Suburbs VS. City Centres In The UK
Long-term global trends point to increased urbanization in towns and cities. Even after the mini-exodus from cities caused by lockdowns, there was a slight rebound in favor of city life.
Nonetheless, despite this rebound, the overall picture remains mixed. And, while the workforce may be less interested in escaping to the Outer Hebrides, not all UK cities and suburbs have the same value relationship with one another.
For example, central London is generally more expensive than its neighboring areas. But that’s not always true in every city in the UK, in which investors and property owners are seeing value in unique neighborhoods.
SO, IN CENTRAL LONDON…
An average home of 751 sq ft, approximately, costs £736 per sq ft. You truly get more for your house outside of central London with an average floor space of 776 sq ft and prices of £642 per sq ft.
In Cardiff, Leeds, and Bristol, a similar picture emerges. However, when it comes to value for money, buyers in the suburbs are not always better off.
TAKE, FOR EXAMPLE, NOTTINGHAM…
A typical property in central Nottingham costs £273 per sq ft for a 702 sq ft house. However, in the suburbs, an average 768 sq ft house will cost £338 per sq ft.
Data source: Barrows
