Is buying a house in London only for the wealthy?

1 in 5 houses sold in London are over £1 million!

Is buying a house in London only for the wealthy?

According to a recent report, 1 in 5 houses for sale in London are being listed at one million pounds or over! Making buying a house in London one of the most expensive cities in the world!

For some, this latest report will be music to their ears while others will be left frustrated (obviously depending on your home ownership status!)

The map below shows which London boroughs are the most expensive to buy a house in:

emoov_london_house_prices_by_borough

It’s not a big shock that Westminster has the highest percentage of million pound properties, with 63% of all properties listed in this area being 1 million pounds or over.

Chelsea and Kensington are a close second where 62% of all listed properties are one million pounds or over.

With property prices continuing to rise in the capital, this latest news will be very unwelcome to any aspiring London homeowner! On the flip side, this will be fantastic news to the homeowners of London. With many selling up!

If you have a property in London and you’re thinking of selling, Quick Move Now can offer you a free, no obligation cash offer for your property. Simple call us today 0800 068 3366 or complete the online form below.

This content was written by Quick Move Now
Published on 17th June 2016
Last updated on 6th August 2018

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