Virginia Woolf may have been keen on the idea of a room to call her own, but she may have been less impressed to discover the price of one in the City of London has risen 140 per cent in a decade, according to official figures.
Data by the Office for National Statistics (ONS) published today showed that back in 2006, a single habitable room set buyers back £142,554. Fast forward a decade, and that price was £338,833: 138 per cent higher.
The City of Westminster was ranked second, rising from £149,556 in 2006 to £324,834, or 117 per cent. Meanwhile, Hackney and Lewisham followed, rising 108 per cent and 105 per cent respectively.
The data also listed the most expensive local authorities to buy a single square metre of space, ranking Kensington and Chelsea top: a square metre in the borough set buyers back £19,439 in 2016.
However, the City of London came second, with house prices of £17,371 per square metre.
That was followed by the City of Westminster, Camden and Hammersmith and Fulham, which all had prices of over £10,000 per square metre.
“The extremes of the property market are laid bare when you look at house prices at a local level, with the price per square metre in Kensington and Chelsea roughly twenty-five times that in Blaeneau and Gwent in South Wales," said Shaun Church, director at Mortgage Broker Private Finance.
However, there may be good news for house hunters in the capital:
"This data doesn’t account for the recent slump in house prices we have seen in some areas of central London, which suggests house prices may be approaching a ceiling," he added.
A room of one's own: London boroughs, ranked by the price of a single room
|Rank||Area||2006 price per room||2016 price per room||Change over the decade|
|1||City of London||£142,554||£338,833||137.7%|
|2||City of Westminster||£149,556||£324,834||117.2%|
|11||Kensington and Chelsea||£204,518||£398,561||94.9%|
|16||Hammersmith and Fulham||£114,559||£217,282||89.7%|
|17||Richmond upon Thames||£93,895||£174,836||86.2%|
|22||Kingston upon Thames||£70,787||£125,554||77.4%|
|29||Barking and Dagenham||£47,565||£79,447||67.0%|