Right now, the average price for a house in London hovers around £700,000. I know. Breathe. That’s not a typo, and it’s not Monopoly money.
If you’re looking for a flat, you’re looking at closer to £500,000. That might buy you a one-bedroom with a “compact” kitchen. Or a bedroom so small you can touch both walls with your arms spread.
But wait, you say. What about the outer zones? Fair question. Zone 6 or Zone 7 can drop the average to £400,000. That’s still a lot. But you might get a garden. And a parking spot. Living the dream, right?
Why So Much? (And by “Much,” I Mean Insane)
London is a global city. Everyone wants a piece of it. From lawyers to trust fund babies to international investors who treat flats like stocks.
Supply is tight. Really tight. We’re talking bidding wars where people offer £50k over asking price just to secure a place with a leaky roof. It’s wild out here.
Oh, and don’t forget stamp duty. That tax you pay when you buy? On a £700k house, it’s £25,000. Imagine paying that for the privilege of owning a home. You could buy a car with that. Or a holiday. Instead, you get a receipt from the government.
