London, Brighton and Oxford are per square metre the three most expensive cities in the UK, according to figures for 2002 from Halifax Estate Agents (HEA).
In 2002, properties in London cost an average of £2,728 per square metre. This compares with £2,170 in Oxford and £1,822 in Brighton. Over the past 10 years, the gap between the top and bottom cities has widened. Although London and Oxford were also the leaders of this price list in 1992, the gap between them was only 13%. This has doubled to 26%. In the same period, the gap between London and the least expensive city has grown from 152% to 335%. The least expensive cities were Belfast in 1992 and Hull in 2002.
Jane Pridgeon, managing director of HEA, said: ‘The popularity of city living continues to grow and, as a consequence, is pushing up house prices in those areas. The investment in local transport and amenities are major factors in attracting people back to city centres.’
Between 1992 and 2002 the five cities with the biggest rise per square metre were Brighton (215%), London (190%), Bath (167%), Belfast (165%), and Oxford (161%).
The five cities reflecting the smallest increases over the same period were Swansea (40%), Inverness (39%), Dundee (37%), Aberdeen (28%), and Hull (23%).