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Vest Interest

Are There Any Statistics For House Prices By The Square Metre?

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Hi. First a quick anecdote:

My mate's been looking for a place to buy for the past year and a half. He's finally found one and has negotiated a cracking discount on it (he's only paying £1k more than the vendor paid in Jan 2003 - which is a poor return for Cambridge).

Here's the thing though. Having had his mortgage offer open for so long and finally bought, his lender will assume (& will publish) that prices have stayed the same - he's borrowing as much as he originally said he would, against a purchase price exactly of the amount he originally said he was going to spend. Only difference is that he's got a 4-bedroom town house instead of the 2 or 3 bed semi that he thought would be the best he could afford. If the lender chose to compare the price per square metre, I'm sure it would be apparent that the price stagnation story is a bit of a fib.

In a falling market, I expect many people will choose not to borrow less than they can, but to make sure that they get more house for that money. So, 1-bedroom flats will never sell, 3-bed family houses will. Even the Land Registry figures won't show the real decrease in house prices.

Here's my question then - does anyone know of a survey that actually compares like with like? Any of them showing the average price for a 2-bed flat, 5-bed detatched, etc - or indeed the more simple price per sq m that seems common on the continent?

Obviously it would be possible to add up all the room sizes quoted on Rightmove..... but I haven't the patience.

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I don't know where you can find what you are looking for but ...

I sold a 3 bed terraced in Aug'04 .

3 beds , kitchen , lounge and dining room = 55 square meters for around £3000 a square meter .

Location = Reading , Berks .

Bog not measured as I didn't live in there so I haven't included it .

Edited by Wankan

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Cor blimey - £3000 per sq m makes all the numbers in the Halifax report seem paltry. I sold my place last year for £1370 /m^2 and thought I'd done well.

Unless I cocked it up of course

L W Sq Metre

lounge 3.7084 2.9464 10.92642976

dining 3.7084 3.048 11.3032032

Combined 22.22963296

kitchen 2.7432 1.8796 5.15611872

Bed 1 3.7084 2.9464 10.92642976

Bed 2 3.7084 3.048 11.3032032

Bed 3 2.7432 1.8796 5.15611872

Bedrooms combined 27.38575168

Bathroom Yes

Leanto Yes

Garage No

Total Living Space 54.77150336

Edit: Sorry about the decimal points .

Edited by Wankan

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