Even more more facts about the property market in UK!
1. Is it a lack of land? Again, probably not. Only 1% of UK land is housing; of all the land in England only 10% is developed. Building 350,000 houses would only increase our housing stock by 1.3% per year, and would only involve building on only 0.01% of land annually. (source)
2. The capital currently has 72 billionaires - worth a grand total of £110bn – calling London their home (or at least their primary home), according to estate agency Wetherell.
3. Estate agent Strutt & Parker found the capital has the lowest retention rate of any region (35%)
4. Harrods department store has a massive one million square feet of floor space – that’s around three Premier League football pitches
5. At $240 per square foot, London office space is some of the most expensive in the world, Forbes reports.
6. There are planning regulations to ensure certain views of the St Paul’s Cathedral aren’t obscured by London’s skyline.
7. London’s cheapest flat is a one-bed flat sold for just £79,000 in Clapton by Purplebricks in 2016. It was little more than a room, though, measuring just 75 sq ft.
8. Renting property is actually £1,440-a-year more expensive than buying a house, according to Halifax, and that includes household maintenance and insurance costs
9. With all the talk about house prices, home ownership is at it’s lowest level since 1980s
10. The average floor space of newly built houses in the UK are the tiniest compared with countries like Ireland, Spain, France, Denmark, Australia and USA.