Haven’t given up on your dream of owning a London home yet? This news story will do it for you.
According to official figures by Land Registry, the average price of a London home is almost £500,000.
In September, the average house price in capital increased by 1.8% or nearly £7,000 to £499,997.
In the north east of England, prices dropped by 0.3% from a year earlier to £99,559. This means the gap between house prices in England and Wales is a whopping £400,438.
The figures showed that 10 London boroughs, including Newham (13.6%) and Greenwich (12%), registered annual price growth of at least 10%.
Kensington and Chelsea was named the most expensive London borough with an average property costing over £1.3m.
Rob Weaver, director at Property Partner, said: “That average prices in the capital are just a whisker off half a million pounds reinforces how buying in the capital has become a pipe dream for most first-time buyers.”
The 10 most expensive London homes on the market:
1. 2 to 8a Rutland Gate in London
2 to 8a Rutland Gate in London could become Britain’s most expensive home ever to be sold if a £280m bid for the 45-bedroon mansion is accepted.
The home came on the market in 2012 after it owner Sultan bin Abdulaziz Al Saud, Crown Prince of Saudi Arabia, died. It’s been empty ever since and over 800 contents of the home, including lavish chandeliers and gilded tissue boxes were auctioned earlier this year.
This flat in one of the world’s most expensive residential developments, One Hyde Park, spans across 9,000 square feet. Designed by the Candy brothers, the apartment is divided into two wings; the five bedrooms can be found in the city wing whilst all the living and entertaining spaces are in the park wing. Owners of this flat can avail concierge services as provided by The Mandarin Oriental Hotel next door.
Set in the heart of Knightsbridge, this home boast seven bedrooms, six bathrooms, three reception rooms, a swimming pool, jacuzzi, gym, sauna and cinema
Spread over 22,775 square feet, this London mansion has an exquisite triple storey reception hall, drawing room, dining room, galleried study, family room, kitchen/breakfast room and conservatory. The first floor has the master bedroom with his and hers dressing rooms and bathrooms and the second floor boasts three further bedrooms. The home also have leisure facilities including a swimming pool, gym, sauna, changing room and treatment room as well as an amazing cinema room and bar.
This seven-bedroom home in the heart of Mayfair is a Grade II listed period townhouse. It boasts one of Mayfair’s largest private gardens with steps down to a sun Terrace and water feature.
The master bedroom suite occupies the entire second floor providing a bedroom, “separate morning room” as well as both his and her dressing and bathrooms. The home also has a swimming pool, gym, spa, cinema room and a wine cellar.