The mind-boggling reality of London property prices
The average price of a flat in central London has just officially tipped over the £1m mark for the first time.
A report by Cluttons found that values of “prime central London” property rose by 2.3% over the first three months of this year, taking the average flat price to £1.01m. Central north-west saw the fastest-rising prices, going up 4.6%.
So what exactly does £1m buy you in London these days? A little bit of Zoopla research revealed that there are a decent handful of flats with just one measly bedroom going for as much as £7m.
Check them out – in ascending order of price, just to keep you on your toes…
£1m: One bedroom, Stafford Terrace, London W8
The average price of a flat in this area is £1.45m, with the average number of bedrooms standing at 2.3, according to Zoopla. So you might be convinced that this second-floor flat, offering a long leasehold, is something of a bargain. Or you might not…
£1m: One bedroom, Ladbroke Square, Notting Hill W11
This “stylish and spacious” flat offers an en-suite bathroom and walk-in wardrobe, and access to communal gardens. It’s also got high ceilings and wood floors described as “wonderful”. But are they £1m wonderful? You decide.
£3.25m: One bedroom, Lowndes Court, Lowndes Square, Knightsbridge SW1X
You get just the one bedroom for £3.25m in this third-floor 1,038-square-foot flat, plus a guest cloakroom (though of course your guests won’t be able to have a sleepover, unless they’re happy to camp out in the conservatory/reception room). You also get a porter and private balcony, though no garden, despite being right next to Garden Square.
£3.75m: One bedroom, Pont Street, London SW1X
Okay, so you might only get one bedroom, but at least this Knightsbridge flat does offer a sizeable reception room and dining room to supplement the sleeping space shortage. The maisonette has its own front door, but you’ll have to chill out on the front step if you want to catch any rays this summer, as there’s no garden or balcony.
£4m: One bedroom, Eccleston Square, Pimlico, London SW1V
Knight Frank is offering this Pimlico flat, boasting 1,662 sq ft of floor space – which works out for the, ahem, bargain price of £1,805/sq ft. If you find yourself feeling a little claustrophobic with just the one bedroom, fear not – you can camp out in either of the two reception rooms instead. There are two bathrooms too, plus a separate “laundry/staff” room.
£6.7m: One bedroom, Upper Grosvenor Street, Mayfair, London W1K
This 2,000-sq-ft purpose-built apartment boasts a bevvy of nice little add-ons – after all, it’s the little touches that make all the difference when you’re spending almost £7m. So chucked in with your one bedroom, you get “bespoke hand carved panelling details with Artcoustic custom fabric speakers”, an “en-suite Arebescato and Henry IV marble bathroom”, a “balcony off the kitchen with Bowers and Wilkins outdoor all weather speakers”, and, thank goodness, a “Control 4 Home Automation system which controls heating, air conditioning and audiovisual systems”. Entertain your guests in either of the two reception rooms, or chill out in the panelled “library/study”. Heads up, though, if you’re not a fan of Burr walnut, be ready to chuck a few extra bob on a redecoration job, as it makes in appearance in most of the rooms.
£6.95m: One bedroom, One Hyde Park, 100 Knightsbridge, Knightsbridge, London SW1X
You probably could have guessed that One Hyde Park would top the list in terms of price. Strutt & Parker are offering this “ultimate pied-a-terre” in the “the most prestigious development in London”. The listing is rather short on pictures and floor plan details, but you get that old favourite of the sup
er-rich one-bed, the guest cloakroom, as well as a wine store and bar. If you feel a little cramped in your one bedroom, you can always stretch your legs in the reception room, entrance hall, or – actually, that’s it, unless you fancy hanging out in the loo.
All images: Zoopla
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