Monday, February 16, 2015

Property prices in London compared with the rest of England

I've seen a couple of articles like this before on various websites highlighting the extreme difference between house prices between London and the rest of England. I wanted to do this mainly so hear what you think about it! This subject doesn't exactly fit into the style of my blog but It was on my mind as I would love to move to London one day but it is just so expensive.

All of this information I gathered myself from Rightmove.

For the vast majority of us £2million is a lot of money, so you would expect to get a lot for it, correct? For that price in London it gets you a 2 bedroom flat in Colville Square. It's a beautiful, modern and clean flat, one that I don't think anybody would turn there nose up at. However, it's not much for your money in comparison to what I found next..
You can find this flat here.

I had a look around the website and discovered that for exactly the same price £2million you can get a 5 bedroom mansion in Derby that comes with a marble staircase, library and huge indoor heated pool. You can find this property here.

I did a bit of searching for anywhere in London for under £100,000 even though I knew this was a long-shot. All I could seem to find were parking and garages. So for £65,000 you can buy a garage in London. You can find that here.

In comparison I found a decent 3 bedroom terraced house in Birkenhead, Merseyside for slightly more £65,950. It is fitted with a clean, modern kitchen. You can find it here.

Now this comparison might be a little unfair because I have seen some much nicer properties for the same price, however this was mainly to highlight how overpriced it was. I found this 3 bedroom flat in Bethnal Green for £425,000, which you can find here.

In Gainsborough, Lincolnshire you can buy a large 6 bedroom house with its own theatre, courtyard even comes with 3 stables. This was the biggest shock comparison for me. You can find this property here.

This post may seem very biased, however I am well aware of why the property prices are the way they are as it is the capital and a very sought after place. Also if the prices were too cheap London would have a massive over population problem so you really have to look at it that way. For people like me though who dream of living there one day and being where everything is happening and all the big opportunities are, it doesn't leave us much hope. I would really like to know what you think on this topic so please leave a comment below. Do you think these prices are ridiculous or do you think they are very fair for where they are? Do you live in London and wish you could have more for you money or are you completely satisfied? Do you want to move to London some day or do you fear you'll never be able to afford it? Thanks so much for reading!

Abiee x

Abiee Lucas

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