As the London market heats up, getting ahead of the ‘ripple effect’ is a tempting prospect for anyone thinking about cashing in and buying their dream home.
The average asking price of a London home has reached an all-time high of £572,348, according to the Rightmove House Price Index for April. The biggest increases are occurring in the less expensive boroughs, as a ripple effect sees demand move further out of the centre.
For families looking for their next move, considering a move just outside London could mean a bigger house, more space and more outside land. But just what can you get for your cash? We weigh up the options.
Swap a flat in Borough…
This two bed flat in Borough is for sale at £450,000.
…for a bungalow in Brentwood
Three bedroom bungalow in Brentwood, offered in excess of £550,000.
Swap a flat in Earl’s Court…
Earl’s Court two bedroom flat, £680,000.
…for a detached house in Egham in Surrey
Two bedroom detached house in Egham, £515,000.
Swap a two bed in Hampstead…
Two bedroom apartment in Hampstead, £750,000.
…for a three bed in Harpenden
Three bedroom house in Harpenden, £535,000.
Swap a two-bed in Shepherd’s Bush…
Two bedroom flat in Shepherd’s Bush, £600,000.
…for a five-bed in Surbiton
Surbiton five bedroom terraced house, £879,950
Swap a two-bed in Chelsea…
Two bedroom flat in Chelsea, £640,000.
…for a four-bed in Chertsey
Four bedroom house in Chertsey, £589,500.
Matthew James from Rightmove says that, while it can be hard for many Londoners to even think about leaving the highly-prized postcodes of inner London, especially given their recent history of pricegrowth, heading further out might just land you that dream home at a more affordable price.
‘Yes, the commute might be longer, especially for those working in central London, and it won’t suit everyone, but it could be perfect for a family looking for more space or a second- stepper looking to move from a flat to house,’ he says.