« Retiring Brits are more inclined to squander potential inheritance | Main | HIPs are still HIP »

The price of a bedroom

Getting a foot on the property ladder is a difficult, but hugely satisfying step for most first-time buyers. However, those ready to move off the the first rung to a bigger home must be prepared to be further away than the last.

We have analysed property for sale across London at the end of August 2006 to reveal some surprising results.

priceOfAbedroom.GIF

The property ladder steepens as you climb.

Each successive rung on the property ladder is a much greater step than the last, forcing homebuyers to stretch themselves further and further every time they trade up. On average across London a two-bedroom home costs £75,793 more than the price of a one-bedroom home. A three-bedroom costs £137,504 more than a two-bedroom and a four-bedroom home is on average £209,966 more than the price of a three-bedroom home. Warren Bright, Chief Executive at propertyfinder.com said:Chelsea.jpg
While larger homes have additional reception rooms and possibly bigger gardens, the number of bedrooms still provides a very reliable rough guide to London's property ladder. Far from getting easier, this research reveals that the climb gets tougher as buyers seek out larger properties. a fourth bedroom costs almost as much as an entire one bedroom home!

 

 For sale: £1,700,000 a four bedroom terrace house in Seymour Walk, London


 
 

Posted by Bronwyn on September 14, 2006 11:23 AM |

Post a comment

(If you haven't left a comment here before, you may need to be approved by the site owner before your comment will appear. Until then, it won't appear on the entry. Thanks for waiting.)