London houses are 7x more expensive than those in the North

Houses in London are up to seven times more expensive than houses in the North of England, Open Property Group research has revealed.

Using house-price-per-square-metre data, it found that London house prices sell for an average of £7,731 per square metre. In comparison, cities in the North sat at the other end of the scale. Houses in Stoke-on-Trent sell for an average of £1,104 per square metre and Bradford houses are close behind, selling at £1,307 per square metre.

Major Northern cities also fell below the £2,000 price per square metre threshold. To buy a property in Leeds, you will be looking at paying an average of £1,684 per square metre. In Manchester, the price per square metre will be £1.654.

Houses in Sheffield come in at £1,553 per square metre

Openpropertygroup.com managing director, Jason Harris-Cohen, said:  “While the British public is used to seeing a house price that reflects the entire property package, knowing the actual cost per square metre is a far more effective way of evaluating value for money. Using this method, buyers can compare the price of a like-for-like size property anywhere in the country, without superficial factors in the equation, which is essential for buy-to-let purchasers or anyone looking to add value. 

“Pricing per square metre, however, isn’t just for investors. Being able to compare the cost of each square metre in different UK locations feeds into a key property trend for 2022 – knowing exactly how much space your money will buy you. This is important for many movers as there’s still pent-up demand for extra bedrooms, living space and a home office.

“As our figures illustrate, you can buy up to seven times as much space in the North compared to London. When put like that, it’s easy to see why people will continue to look outside of London and the South East for their next home.”

Stoke on Trent has the cheapest price per square metre

The 2021/2022 House Price Per Metre Ranking

London Vs The North
CityHouse Price per Square Metre
London£7,731
Leeds£1,684
Manchester£1,684
Newcastle£1,534
Sheffield£1,553
Liverpool£1,309
Bradford£1,307
Stoke-on-Trent£1,104

Source: 2021 www.data.london.gov.uk

ADVERTISEMENT
ADVERTISEMENT
0
Would love your thoughts, please comment.x
()
x