£895,000 is a sizeable budget for anyone buying a property and with the average London house price hitting a record peak of £401,072 in September a budget twice that will still buy you a decent pad. But with London house prices rising 21% in London alone last year alone getting a good deal is tough. It’s obvious that leaving the capital you will get far more bang for your buck.
Head to Southampton and exactly how much more space you will get for your money becomes evident. Southampton house prices currently sits at an average of £220,000 but massive growth is expected with property values predicted to rise by 43% by 2019 – taking the average price up by £100,000. In a market where many are saying house price growth has peaked Southampton offers huge opportunities so how does what’s on for sale in Southampton compare to London?
A budget of £850,000 to £895,000 in Southampton will buy you a five bedroom detached house with an abundance of space inside and out
The proof: What’s on offer in Southampton
Holly Lodge – One of the properties currently on our books at Local Property Index in Southampton is a detached family home that boasts four bedrooms, five reception rooms and three bathrooms across 2,860 sq ft of living space. This is supplemented with far reaching views across farmland and woodland in the Meon Valley village location of Corhampton. With a price tag of £895,000 that’s a price of £312 per sq ft for the living accommodation alone without mentioning the perfectly manicured gardens that surround it.
Swanwick House – Head to Swanwick and a budget of £850,000 buys you a five bedroomed detached family home with four reception areas and 3,600 sq ft of accommodation as well as a detached double garage with home office above. This is further complemented by car parking and gated driveway and gardens – all next to open farmland close to Swanwick Lakes at a cost £236 per sq ft of space. What’s not to like?
Head to London and you literally get a fraction of the space for your money
A budget of £895,000 in London will buy you a three bedroom terraced house less than half the size and a garden if you are lucky
The proof: What’s on offer in London (using Richmond upon Thames as an example)
Albany Passage – Remember the rolling gardens and mass of rooms in the Southampton properties? Whilst Richmond boasts a river and park giving the home owner plenty of open space to explore outside getting space inside is a tougher challenge. This property in Richmond comprises three bedrooms and one bathroom in an end of terrace property with a courtyard garden and a single reception room spread over 1,024 sq ft of space all for the same £895,00 price tag.
Fitzwilliam House – Within a few minutes of Richmond town centre a first floor apartment is also available for the same budget as the Southampton detached family homes. This property includes three bedrooms and two reception rooms spread over 874 sq ft of space. At £1,024 per sq ft of space the cost is more than three times the price of the living space of the Southampton properties and doesn’t boast a garden either.
Find out more about properties available for sale in Southampton on Local Property Index by clicking here.