Westward ho for value-for-money property prices

Looking for the place with the most value-for-money property prices to invest in? Well, look no further than Aberdare in Wales. There a square metre of property will set you back a very reasonable £969.

By contrast, Westminster in central London offers the worst value for money with a square metre of property close to the nation’s seat of power costing an eye-watering £9,379.

The figures were revealed in new data from the Halifax showing that you will definitely get much more bang for your buck if you choose to buy a place to live in the former mining town of Aberdare where the average home is around 121 square metres (about 10 and a half times a standard UK parking space).

Westminster 10 times the cost but half as big

Over in the capital, the average house size in Westminster is a whopping 54 square metres smaller than an Aberdare property but costs 10 times as much.

The Halifax data shows that house prices in greater London are more than double the national average – £5,131 for a square metre of property in London compared to £2,342 across the rest of the UK.

However, those London prices have actually fallen for the first time in almost eight years as the capital’s housing market suffers a slowdown in comparison to other parts of the UK.

Capital treading water

Russell Galley, managing director of Halifax, said: “It is no surprise that Greater London is substantially more expensive than anywhere else in the country.

“Should recent trends persist, prices in the capital will continue to tread water whilst the rest of the country slowly plays catch up.

“While cheaper locations such as Scotland and Wales have started to increase more rapidly over the last 12 months, the prices per square metre in Scotland and Wales mean home buyers can get a lot of house for their money in these regions compared to southern England.”

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Wherever you are buying or selling a home, the cost of conveyancing services is crucial. At Best Value Conveyancing, we pride ourselves on offering low-cost, high-value conveyancing services through our panel of property lawyers across England and Wales.

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