When it comes to price per square foot – where can value be found? Thea Wellband and Harry Gladwin talk to The Times:
When looking at average price of a property in the UK £227,000, purchasers can expect to buy a tiny 167 sq ft in Kensington and Chelsea – the size of four king sized beds. There is however value to be found in certain pockets of K&C, the most expensive borough in the UK. Thea Wellband cites Lots Road and World’s End in Chelsea as a location where savvy purchasers can secure properties for around £1300 per sq ft in comparison to the more prime value areas of Chelsea which can reach anything up to £1800 per sq ft.
High price per square foot values are also being achieved in the Shires. Oxford is one such City which secures comparable prices to London. Harry Gladwin says; “Best in class properties in the most sought after pockets of Central North Oxford are reaching over £1000psf – this is comparable to prime West London. However there is value to be found in the Eastern areas of the City in locations such as Headington and Old Headington. Benefits are that purchasers are close to the M40 for easy access to London and Birmingham and the average price of a home is around £427,000. There are however villages around Oxford and close to the amenities of market towns such as Witney that offer value of around £350 per sq ft – examples include Wolvercote, Crawley, Hailey and Minster Lovell. The key is to discern the difference between a pocket of value and a property that is genuinely compromised.”
To read the full article please click here; https://www.thetimes.co.uk/edition/bricks-mortar/winners-and-losers-in-the-great-space-race-7kmsfs250