September 7, 2007

Regional property price differences

The most expensive areas in the UK are almost ten times as expensive as the cheapest areas in the UK, which just goes to show that the gulf between the wealthiest and poorest areas is getting wider.

The most expensive and probably the most exclusive area in the UK is probably no surprise, the Royal Borough of Kensington and Chelsea has an average property price of £806,057, but in contrast the cheapest area is Merthyr Tydfil in Wales, where the average property price is only £77,509, this marks quite a contrast.

As far as price rises go Kensington and Chelsea boasts a massive 31.2 per cent since August 2006.

There are many regional variations, where some areas may have seen a slight fall, but in the main the property boom is still just about hanging on, although as we have seen it is still booming in desirable areas, whereas in less desirable areas property is harder to sell, and therefore the prices will reflect that.

Source [About Property]