Thursday, 23 September 2021

Now you can value your property by the metre

Now you can value your property by the metre

ANYONE fascinated by property may want to pay a visit to a new website from the Office for National Statistics, writes Lucy Boon.

The web address is

Handily, you can use it to find out the price per square metre for property across England and Wales.

But the results are a painful reminder of the North-South divide.

In 2004 the price of a square metre of property in Hartlepool was £770. Today it is £987. Whereas in Richmond upon Thames, the same amount of space has appreciated from £3,391 to £8,175.

Displaying price data in this form indicates that the ONS is aware of the trend for judging the value of a property at any address based on its area in square metres, rather than the number of bedrooms. A study by Knight Frank, drawn up on this basis and aimed at Londoners longing to leave the capital, suggests Exeter and Bristol as the best prime location buys for space — while for its part Oxford offers the least value for money.

The site also has a calculator that enables you to find out whether or not it’s worth spending money on an extension. Go to:

Standard Property typed in “RG9” to find out what extra floor space could be worth and it showed that just a small (15m square) extension to a house in RG9 could add an extra £60,000 to its value.

Crazy stuff.

Of course, the value of an extension will depend on many things — like the quality of construction, what type of room it is, and the exact location of the property. However, it offers a general average.


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