The price of apartments in London has gone up by 54 per cent in the last five years to reach £393,235, according to a latest research from Halifax.
The research shows that apartment prices in London more than doubled since 2013, contributing significantly to the national increase. The average price of an apartment in the capital is £276,377 more than flats in Wales.
The data from Halifax shows that demand for residential property is steadily climbing in Greater London, as more number of home-buyers enter the market.
Off-plan investors, local buyers and international investors in London’s residential homes are benefiting from this price rise. Investor, who purchased homes in London, five years ago, are seeing good returns on their investments.
Meanwhile, the average price of an apartment across the UK also increased by 48 per cent in the last five years – from £157,061 in 2013 to £232,135 in 2018. The average price of an apartment increased by £75,074 in the last five years, registering a growth of £1,250 a month. Apartments now account for 15 per cent of all home sales in the UK.
Strawberry Star has several residential schemes in London offering 1-bedroom, 2-bedroom and 3-bedroom apartments in ideal locations. If you are keen on buying a London apartment, contact our local office for details.
Flat prices in London have more than doubled over the last five years, contributing significantly to the national increase.