Using Sliding Doors to Add Style and Elegance to Any Property The Cost of Floorspace The cost per square metre of floorspace across the country varies wildly. In 2020 Which? reported that the North East of England offered the most affordable prices at £1,568 per square metre. The East of England was the third most expensive at £3,435 per m2, whilst the South East was over £4,000 per m2 and Greater London was the most expensive at £6,219 per m2. Since then, prices have increased with the latest estimates suggesting that average prices across London are £7,000 per m2. In the most affluent boroughs of London such as Kensington and Chelsea where average house prices top £1.4m, just one square metre of floorspace is worth an eye-watering £28,500. Even in Camden (with average house prices of around £800,000) it is £16,000 per m2. To make things worse in London, the comparatively small abodes offer an average internal space of just 93m2 – which means that space really is at a premium not only in terms of cost but also availability. Also online at: www.dijonline.co.uk 94 THE door industry journal spring 2023 Entrance, Internal, Sliding & Bi-folding Doors Despite the pandemic, house prices have grown steadily over the last few years. Yet in recent months as inflation surged to a 41-year high of 11%, with Bank of England interest rates following suit to reach 3.5% and predictions of it peaking at 5.25% by mid-2023, house prices have fallen. Higher inflation tends to result in slower house price growth and it can make it harder to secure a mortgage. Average house prices currently sit at £296,000 which is less than this time last year.
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