Well-located London properties over £18,000 more expensive, research shows
In news that may interest those weighing up whether to rent or buy in London, new research has indicated that favourably-located properties in the capital attract a substantial price premium.
Research by Halifax Estate Agents showed that across Britain, people are willing to pay extra for homes that are close to workplaces, transport links, or shops, restaurants and coffee bars.
In London the average extra people are willing to pay is £18,749, while the most important factor in creating these premiums is the proximity of good transport links, with 24 per cent saying this was the most important factor in their choice.
Such price premiums may prompt many to look to rent in order to be able to still live in favoured locations.
The figures come days after estate agency Knight Frank reported that rents in London fell 1.8 per cent in the second quarter of this year.
Published 10th October, 2008
© 2008 Estates IT Limited
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In news that may interest those weighing up whether to rent or buy in London, new research has indicated that favourably-located properties in the capital attract a substantial price premium.