House Price Gap: London vs Rest of UK
/Virtual Offices in London must capitalise on the gap - currently at its highest for twenty years - between London house prices and the national average.
Sarah from London said:
"The housing bubble in London is a golden opportunity for virtual office providers and outsourcing firms in the capital to take advantage of the attractiveness of a central location in the city."
Many businesses don't need a physical presence in the Financial Centre of the World; they can run their business from their phone and still trade from here.
Houses in Liverpool and Glasgow are 75% cheaper than in London. In the capital property values have reached 12 times earnings, breaking records in the process.
A monthly report by Hometrack said the widening gap “highlights a seemingly overvalued London market”.
The average price paid in the capital is now £437,700, gifting virtual offices in London with a market for people who just can't afford to be based there.
In comparison, in Glasgow average house prices are £107,300; in Liverpool the figure is £109,600. Even Bristol, whose housing market has been heating up steadily (currently 16% above a 2007 peak), prices are 47% less than London.
(As of September 25th 2015)
