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UK property hotspots identified

16th October 2012 | back to article listings BACK    print this article PRINT

Westminster in central London is the most expensive area per square metre for property investment in the UK, and also the most cramped, according to a new study carried out by Halifax.

In the heart of the English capital, properties in the borough cost 7,586 per square metre on average, and are also the smallest in the country at an average of 71 square metres..

The study found that St Albans was the next most expensive area, although at significantly less, at an average of 3,227 per square metre. Nevertheless, this is almost double the national average of 1,668.

Housing economist at Halifax, Martin Ellis, said: "House price per square metre is a useful measure for house price comparison because it helps to adjust for differences in the size and type of properties between locations.

"Westminster has the most expensive prices in the UK on a price per square metre. Interestingly, it also has the smallest average property size in the country.

"Not only has Westminster got one of the highest population densities per square kilometre among UK cities, but it also has a large proportion of properties that are flats."

Edinburgh is the only city among the top 10 based outside of the south of England, with Oxford, Winchester, Chichester and Cambridge all above it as among the most expensive areas.

At 1,830 per square metre, York was named as the most expensive city per square metre in the north of England.

Copyright Press Association 2012

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