Digging down into our dataset, we’ve taken a look at the difference in price paid per square foot in 2017 according to which floor flats were situated on.
The analysis reveals that the peak for average price in 2017 was the sixth floor, where flats sold, on average, for £616 per sq ft. This is a 49% premium to ground floor flats.
We know that penthouse apartments can attract an enormous premium, so we were a little surprised to find that average prices above the sixth floor slipped back. We concluded that the average was probably affected by the large number of flats in former social housing blocks which tend to be taller and of lower average values.
Flats are more prevalent in London than in other regions and here, we found little difference in price paid for flats on ground and first floor, at around £765 per sq ft. There is a growing number of high value residential towers in London but the sixth floor, remained the most expensive even in London, with an average sales price of over £1,000 per sq ft in 2017.
