Interesting new research from Halifax shows that, while areas in London and the South East are continuing to dominate the country's list of most expensive places for property on a per square metre basis, there are, other areas where property fetches a high price per square metre, including Edinburgh and Aberdeen.
Kensington & Chelsea is Britain's most expensive area with an average price of £10,854 per square metre and also has the highest average house price in Great Britain (£857,225). The top 20 most expensive areas in Britain are all London boroughs and the 48 most expensive are all in London and the South East.
Looking beyond London and the South East of England, Altrincham is the most expensive town with an average price of £2,227 per square metre, closely followed by Edinburgh at £2,214 per square metre, with Aberdeen at £2,125 per square metre, also making the top ten most expensive places to buy in Britain, outside of London and the South East.
Conversely all ten of the towns with the lowest prices per square metre are outside the south of England, with five of those being in Scotland. They include Wishaw (£925), Lanark (£957), Greenock (£976), Airdrie (982) and Kilmarnock (£986).
Craig McKinlay, Mortgages Director, Halifax, said: “House price per square metre is a useful measure for house price comparison because it helps to adjust for differences in the size and type of properties between locations. “
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