Fresh data shows that Open Property Group houses in London are up to 7x more expensive than houses in the North. Showing that the North-South divide is still evident..
The National Statistics house-price-per-square-metre data, found that cities in the North sold for as little as £1,104 per square metre, in comparison to London where houses sell for an average of a whopping £7,731 per square metre.
Openpropertygroup.com Managing Director, Jason Harris-Cohen said:
“While the UK 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..”
