The Bricks&Logic map tool is a great way to find areas that are right for you, even if there is nothing to buy or rent there right now. It also gives lots of useful analytical information like which areas are rising in price the fastest.
By looking at £/sqft rather than overall sale or rental values we get a better idea of whether or not a property is good value.. If an area only has large houses, it is going to appear more expensive than one with mostly small flats, even if those same size flats would actually be cheaper if they were in the area with the large houses.
Selecting 'Average Sale £ per sqft' provides you with a quick overview of the cheaper and more expensive areas of London and their locations. Unsurprisingly we see the red zones are in the Centre and to the South West and the lighter zones are focused on the outer edges, particularly to the East.
Example: 700 sqft flat for less than £350k
By editing the filters on the map we can start drilling down into particular areas that might be affordable and have the properties you’re looking for:
Once you have found a general area you think works for you, then you can use the map to zoom in and see the average value of individual streets:
On the left hand you can see information about how this particular area compares to the rest of London in terms of absolute price and performance over time.
Finding a cheap area inside a more expensive one
Seeing this level of variance in an area then leads us to think ‘Can we find an affordable property in a more traditionally expensive area?’ The map below shows an area of Shepherds Bush, an area approximately 75% more expensive than the rest of London. As you can see, whilst there are a lot less streets highlighted there are still a few options for the type of property we are looking for within budget.
I can now zoom into one of these streets to see what properties I might be able to afford. In this case, I select Shepherds Bush Green and I see that a 732sqft flat in Bush Court sold for £351k in 2016. Whilst this may not be particularly recent, we can also see quite clearly that prices in this area for this type of flat have not changed much since then.
By using our map tool we have shown that in general the cheapest areas are in the East of London. What’s more by using our zoom in function, you can create bespoke searches to help you find those affordable gems in traditionally more expensive areas.
Use our Map Tool at www.bricksandlogic.com to help find the best value home for you.