Another thing, that I started to do, is calculating price per sq. m. This helps to see, why £150K properties like this are expensive. I mean, not expensive like any other property in London, but expensive even by London standards. It may look nice and even “affordable” on the picture, until you crunch the numbers. £250K full price and 23 sq.m. make £10,870 per sq. m.! The flat is in Hampstead, London Borough of Camden. Now you understand, why wiki says, that “The village of Hampstead has more millionaires within its boundaries than any other area of the United Kingdom.”
The average price for square meter in Westminster, London (city centre) is £7,586 according to The 2012 Halifax House Price Per Square Metre Survey. I find the 2011 survey more interesting, though, as they considered London boroughs as towns.
In The 2011 Halifax House Price Per Square Metre Survey London boroughs made two lists:
I wonder, why did not I get these coordinates earlier. Strangely enough, nobody of the UK investors mentioned, that s/he uses price per square metre as a guide. And I did not have property experience in my home country, where this measurement is popular – that’s why it’s did not come to mind.
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