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Average Newham house price £5,000 per square metre

PUBLISHED: 14:38 12 October 2017 | UPDATED: 15:10 12 October 2017

Picture: PA Photo/thinkstockphotos

Picture: PA Photo/thinkstockphotos

PA Photo/thinkstockphotos

A phone box-sized space in Newham is four times more expensive in London’s richest borough, new figures reveal.

Newham was ranked the sixth least expensive local authority for house prices per area, with buyers shelling out nearly £5,000 for every square metre of floor space.

The amount paid in wealthy Kensington and Chelsea, meanwhile, was a staggering £19,400, according to the Office for National Statistics (ONS).

Prices in London soared above the rest of England and Wales, with 19 of the top 20 most expensive areas found in the capital.

The City of London, City of Westminster and Camden followed Kensington and Chelsea as the most costly areas.

But prices in Newham were still double the national average, £2,400.

Extending your property by one square metre will raise the house price by £4,000, the data shows.

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