Family Fortunes: Zoopla reveals where family homes have seen the biggest increase in price per sq ft

20th January 2021

• Family homes in the Midlands have recorded the greatest increase in price per square foot over the past four years, with the price per sq ft standing at £212 in the East Midlands and £223 in the West Midlands 

• At a local authority level, Merthyr Tydfil in Wales has seen the highest gains, followed by the Forest of Dean in Gloucestershire and Tameside in Greater Manchester

• Looking at family homes with the most expensive price per sq ft, Kensington and Chelsea in London ranks in first place, with a premium price of £1,936 per sq ft

• Outside of London, Elmbridge in Surrey leads the way, where the average price per sq ft of a family home is £591

 

Zoopla, the UK’s most comprehensive property destination, has revealed where family homes have seen the biggest increase in price per sq ft, as well as the areas where family homes have the most expensive price per sq ft. 

 

Biggest increases in the Midlands 

 

Family homeowners in both the East and West Midlands have seen the biggest increase in the price per sq ft of their property over the past four years. The East Midlands ranks in first place, with a price per sq ft of £212, an increase of £43 (25.4%), while the West Midlands comes in second place with an increase of £44 (24.6%). 

 

For those on the hunt for the perfect family home, there’s a variety of homes on offer, including a contemporary four bedroom detached house in Staffordshire with a price tag of £400,000, and a cosy three bedroom barn conversion. The period property is located in the historic village of Eyam, providing easy access to the Peak District 

 

For buyers prioritising space, Scotland offers the overall best value for money with £142 being the average price per sq ft of a family home. Meanwhile, in England, the North East offers the best value for money for families, with an average price per sq ft of £171. The region has some stunning properties currently for sale, including a 3 bedroom Edwardian terraced townhouse in Newcastle for £350,000.

 

Widespread gains at a local level

 

At a local authority level, family homes in the district of Merthyr Tydfil in Wales have seen the biggest gains, with the price per sq ft now standing at £123, an increase of £34 (38.2%) in four years. With its enviable location surrounded by rolling countryside and just south of the Brecon Beacons National Park, it could be the perfect location for those who want to live in easy proximity of the great outdoors, with properties on sale including a two bed terraced house on sale for £120,000.

 

In second place is the district of the Forest of Dean in Gloucestershire, well known for its historic woodland. The price per sq foot for a family home in this area has increased to £233, representing an increase of £64 in the last four years (37.9%). In third place is the Tameside region in Greater Manchester, where the price per sq ft stands at £197, an increase of £52 (35.9%). Well positioned to both Manchester city centre and the Peak District, family homes for sale include a quirky converted chapel on sale for £535,000 and a period mid terraced three bedroom property on sale for £225,000. 

 

Reflecting its dominance as the region with the biggest increases, several local authorities in the Midlands feature in the top ten list including Nottingham, Birmingham, Sandwell and Ashfield. 

 

Premium prices in London 

 

Looking at family homes with the most expensive price per sq ft, Kensington and Chelsea in London ranks in first place, with a premium of £1,936 per sq ft. Home to Kensington Palace Gardens, which holds the title for the priciest street in Britain, as well as many embassies and mega mansions, it’s easy to see why it’s a location with such a high price per sq ft. For families in a position to splash the cash, suitable properties for sale include a modern four bed detached house on sale for £4,000,000. 

 

This is followed by Westminster in second place (£1,649) and Camden in third place (£1,120). Of the top ten in London, the borough of Southwark has seen the biggest increase in price per sq ft over the past four years. The price per sq ft has increased from £666 in 2016, to £760 in 2020, an increase of £94 (14.1%). 

 

Outside of London, Elmbridge takes the crown

 

Outside of London, Elmbridge in Surrey leads the way, with an average price per sq ft of £591, an increase of £63 (11.9%) since 2016. With many looking to buy family homes outside of London as they search for additional space, commuter hotspots like St Albans, Brentwood, and Cambridge all feature in the top ten. 

 

Locations near Areas of Outstanding National Beauty also feature in the list, with family homes in the Mole Valley having a price per sq ft of £508, up £63 since 2016 (14.2%). Chiltern also features, with family homes commanding a price of £496 per sq ft - up a substantial £70 since 2016. 

 

For those looking for a taste of the rural life, family homes for sale in the Mole Valley include a spacious four bed detached house in Leatherhead on sale for £2,950,000 and a stylish five bedroom detached house for £1,495,000 located in South Heath in the Chiltern Hills. 

 

Gráinne Gilmore, Head of Research at Zoopla comments: “From our research, it's clear that the price per sq ft of family homes varies hugely across the country. Although there has been an increase in the price per sq footage of properties in all regions of the UK, there are still pockets of the country with more affordable housing, while areas located in commuting distance from larger cities or near Areas of Outstanding Natural Beauty are likely to command a premium."

ENDS 

 

Methodology 

 

Zoopla Research

 

The avg price per square foot is a median ratio of house value estimate to floorspace area. The house value component is based on Zoopla house price estimates (C-AVM).  The floorspace component is based on a combination of floorspace data from EPCs and listings data provided by agents. The research looked at family houses only - 3-5 bedroom houses.

 

Family homes for sale

  

4 bed detached house for sale

Staffordshire, East Midlands 

Available on Zoopla for £400,000

3 bed barn conversion for sale

Eyam, East Midlands 

Available on Zoopla for £450,000 

3 bed terraced house for sale

Newcastle 

Available on Zoopla for £350,000

2 bed terraced house for sale

Merthyr Tydfil, Wales 

Available on Zoopla for £120,000

4 bed detached house for sale

Tameside, Greater Manchester

Available on Zoopla for £535,000

3 bed terraced house for sale

Stalybridge, Greater Manchester

Available on Zoopla for £225,000

4 bed terraced house for saleKensington, London

Available on Zoopla for £3,800,000 

4 bed detached house for sale

Leatherhead, Mole Valley 

Available on Zoopla for £2,950,000

5 bed detached house for sale

Great Missenden, Chiltern 

Available on Zoopla for £1,495,000

Regional Breakdown

 

Local authorities with the highest growth 

 

London most expensive 

Top ten most expensive outside London

 

 

- Ends -

For further information, please contact PR Team on pr@zoopla.co.uk or +44 (0)20 3873 8770.

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