Recently, the average home in London increased to $500,000 a price tag that was once reserved for major city centres. The increase in average home prices is good news for Londoners as this is a massive indicator of how valuable London properties are. However, you may be left wondering what kind of home does $500k buy you if that’s the average?
In today’s blog, we will be exploring what the “average” London home looks like, and what to expect if this price tag is in your budget.
If we were to give the average home a profile it would be broken down as the following:
- Single-family home
- Backyard/front yard
- Driveway and/or Garage (for multiple cars)
- 2-3 bedrooms
- 2-2.5 washrooms
- 1-2 floors
The size/offerings of the homes at this price point change depending on the area of London that the property is located. The more central you are in London, the older the home will be (in most cases). This is not to say these preloved homes are not a deal, you could get anything from a spacious bungalow to a thinner-detached Victorian home. The style of the home is also dependant on location as you can also find spacious bungalows on the outskirts of London.
If you are interested in learning more about buying or selling in London contact one of our friendly team members today. At PC275 we specialize in buying and selling homes safely by leveraging our virtual services. Feelgood@pc275.com
At PC275, we provide virtual buying and selling consults for free and can help you determine your home’s value while adhering to social distancing guidelines!