House prices: Expert discusses 'interesting' pricing differences
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House prices have continued to rise in the UK as more sellers and buyers work their way up the property ladder. However, house prices vary across the nation, with some areas being a lot more affordable than others. New research by PlumbNation compared average property prices with the average size of a home in each area around the country.
The average UK property
The average property size in the UK is 92.4 square metres.
The average property price is £271,368 with the average home costing £2,936 per square metre.
The cheapest area to buy a property per square metre is Blaenau Gwent in Wales where a square metre of a home costs just £1,268 on average.
The area, in the southeast of Wales, is known for its former coal-mining and steel-working industries.
In England, Burnley in Lancashire is the area with the lowest cost per square metre.
The average property size in Burnley is 88 square metres which equals to just £1,277 per square foot.
This is over 20 times lower than some parts of London.
Another area in Lancashire, Hyndburn, is ranked in third place.
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The area has slightly more expensive homes but they are bigger with an average cost per square metre of £1,290.
Cheapest areas in the UK per square metre:
1. Blaenau Gwent
5. County Durham
7. North East Lincolnshire
8. Merthyr Tydfil
9. Blackburn with Darwen
Where are the most expensive places to buy a property in the UK?
Unsurprisingly, the area where money will get buyers the least floor space is Kensington and Chelsea in London.
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Westminster ranks in second place with the average cost per square metre being more than £20,000.
The City of London has some of the smallest properties in the country.
Average floor space in this part of London is just 47 square metres.
It also has the third-highest cost per square metre at £17,159.
The most expensive area not in the capital is Elmbridge in Surrey where the average cost per square metre is £7,110 – more than £1,000 more expensive than the next highest area.
Another area in Surrey, Mole Valley, came in second place where homes cost £5,870 per square metre on average.
In third place is Three Rivers in Hertfordshire where the average house price per square metre is £5,781.
Three Rivers is located just outside of London, making it the perfect spot for city commuters.
Most expensive areas per square metre outside of London:
2. Mole Valley
3. Three Rivers
4. St Albans
9. Epping Forest
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