Statistics released by property website Zoopla reveal that the average per sq ft price of a property in Britain is £211, an increase of 26% in the last 5 years.
The sq ft price index has been created to give buyers an inside track when it comes to negotiating and evaluating value for money for property. The best indicator of the worth of any property, sq ft price enables investors and buyers to compare individual properties to similar homes in the same area.
Kensington and Chelsea tops the list for the most expensive sq ft in the country at £1,382, up by almost 30% since 2012. By contrast, Blaenau Gwent in South Wales offers the most value for money sq ft value at £79.
Outperforming their fellow London boroughs over the course of the last half decade is Newham and Waltham Forest, which have both experienced more than 80% growth taking the average sq ft value up to £422 and £498 respectively. Both have benefited from improved transport links and the London Olympics in 2012. Following hot on their footsteps is neighbouring borough Barking and Dagenham which saw an increase of 73% to bring its average sq ft value up to £344.
Regionally house hunters in the North East get the most bang for their buck with an average price per sq ft of £124, a rise of just 3% in the last five years. While Slough in Berkshire is one to watch with the highest growth rate outside of London, experiencing 64% growth since 2012.