If you are looking to buy a property, it is worth considering the cost per square metre of floorspace. The variation around the UK is dramatic, with the most expensive, not surprisingly, in the London borough's of Kensington and Chelsea, at £11, 321 per sq m. That said, prices here have fallen 1 per cent since 2015.
Compared to the rest of the UK and other parts of London, floorspace (price per square metre) here still carries a high price tag. We, therefore, recommend carrying out a few preliminary checks to ensure you get your money's worth.
- Arrange a viewing of the home you have your eye on and take note of the distribution of space. By doing so, you will have a fair idea of how much of your property is actually useful.
- Consider the property's location, whether it needs renovation, how new it is and its size in relation to your requirements. For example, if you have a large family, a home with spacious living areas would be more practical than one with small sitting and bedrooms rooms and numerous corridors.
If you're unsure if the price tag is too high given the usable space available and would like a second opinion, let us know. We'd be delighted to visit the property with you.
Price per square foot reflects all sorts of considerations such as location, oversize or undersize, what the property is overlooking, whether it is new or old, whether it needs work or is in good condition, and other factors which can distort the overall picture.