London house prices more than double the UK average

News at Waterfords | 13/04/2018

For those Londoners contemplating a move out of the capital, this is the best time on record to take advantage of the price divergence.

We all know London is a very expensive place to live. London’s high house prices are in part driven by employment opportunities, higher earning power for London employees as well as the strong demand for people wanting to live in a diverse, cosmopolitan and global city. 

Exactly how expensive London is relative to other parts of the country varies dependent on where we are in the house price cycle.

Since the end of 2013, the average London house price has been over double the average UK house price. This is unusual and not seen before over the full history of the house price index since the early 1970s.

During this 44 year period London house prices have typically been 1.6 times the average UK house price. Previous peaks saw the price difference reach 1.8 times in 1987 and a similar level in the early 2000s but it has never before breached 2 times (double).

Ideal time to sell to London buyers

For those Londoners contemplating a move out of the capital, this is the best time on record to take advantage of the price divergence and get more bang for their buck outside the capital. 

With Surrey, Hampshire and Berkshire being one of the most ideal commuter areas for London, Waterfords expect to see an influx of registrations of London residents wanting to cash in on their property. 

The average house price in London is currently £470,922. In the postcodes that Waterfords operate it is currently £442,147, nearly 7% lower than the capital. 

Waterfords showcase your property to a bigger buying audience

As well as advertising to local buyers, Waterfords are members of Relocation Agent Network. RAN is a national network of estate agents selected by Cartus, the world’s premier provider of relocation services. 

Cartus uses Relocation Agent Network to help relocate people on the move, so when you choose Waterfords, your property will be marketed to these relocating buyers.

Waterfords work with over 30 Relocation Agent Network estate agents throughout London to ensure that our properties are put in front of a bigger buying audience. 

Whether your buyer is moving from London or Lincoln, Birmingham or Bristol, a Relocation Agent Network agent like Waterfords is able to help both buyer and seller to find their perfect match.