If you’re planning to improve your Chelsea property, an extension is the perfect way to add space, change your home’s layout and improve the value of your house. Now, you can find out just how much you can add to the price of your property with a handy new tool.
The Office For National Statistics (ONS) has created an online tool that reveals the price per square metre of a property in England and Wales. Simply select your borough to reveal a raft of data about house prices in the area, based on 2016 figures.
In Chelsea, the value of one square metre of property is £19,439; by installing an extension on a Chelsea home, householders could stand to stand to add thousands to the asking price of their property in years to come.
Meanwhile, in other areas of the country, the figures were less astonishing – in Blaenau Gwent in South Wales, the value of one square metre of property is just £777. The average cost of a patch of property across England and Wales was £2,395 per square metre, the data shows.
Of the 20 most expensive areas in the UK, 19 were in London – in addition to Chelsea and Kensington, Westminster, the City of London and Camden took the top places in terms of value.
The ONS also revealed that the average house in England and Wales has a floor area of 104 square metres – about two-fifths the size of a tennis court. Flats are around 49 metres squared on average. Collectively, a UK property is, on average, 90 square metres in size – that’s just less than the EU average and much smaller than homes in the USA.