Kensington and Chelsea ‘UK’s most expensive property area’Tuesday, 25 October 2011 10:38
Kensington and Chelsea is Britain’s most expensive area with an average price of £8,038 per square metre of property in 2011, latest figures from the Halifax show.
According to the lender’s study, there has been very little change in the past decade, with nine of the 10 London boroughs making up the most expensive areas in the country also in the top 10 back in 2001.
Outside London and the South East, Cambridge is the most expensive town on a per square metre basis with an average price of £2,783 per m².
Stratford upon Avon at £2,259 per m² and the Cheshire towns of Wilmslow and Altrincham, at £2,241 and £2,148 per m² respectively, are the most expensive towns outside southern England.
Meanwhile, Stanley in County Durham has the lowest average price of all UK towns surveyed, at £784 per m² – less than a tenth of that in Kensington and Chelsea.
Martin Ellis, housing economist at the Halifax, said of the 10 year figures: “There has been little change in the composition of those areas with the most and least expensive properties.”