Staggering cost of a square metre space in London

Egerton Crescent, Kensington Credit: PA

A square metre of house in wealthy Kensington and Chelsea is worth 25 times more than the poorest parts of England and Wales. A new interactive map from the Office for National Statistics shows the London borough tops the list of priciest houses with a square metre costing buyers £19,439.

19 of the top 20 most expensive local authority areas are in London with Westminster, the City of London and Camden also topping the list.

Barking and Dagenham was the least expensive London borough, where homes cost £3,994 per square metre.

The ONS found that Blaenau Gwent in the South Wales valleys was the cheapest in England and Wales with a space similar to the size of a phone box costing £777. In 2016 the average cost of property sold in England and Wales was £2,395 per square metre.

In handy online tools, the ONS has also devised a calculator that can help homeowners work out how much an extension could add to the overall value of a property. You can try for yourself here.