Two-speed housing market

I’m back at home now and although I wasn’t best pleased at the hour’s delay to my flight back to Inverness, meaning I didn’t get home to the north coast until 2am, it did at least give me a chance to look at the property pages in the Evening Standard while I was waiting and it rammed home just how disconnected the housing market up here is compared to London.

One small snippet that caught my eye was a piece about the effects of the CrossRail project on housing prices – analysts reckon that property prices in the Canary Wharf area are going to rise by up to 43% between now and 2020 as a result of the project.


Now, don’t get me wrong, I’m a huge fan of some of the new-build apartment blocks going up in London at the moment; I think many of them are fantastic pieces of architecture.  But the cheapest one-bedroom apartment I could find in Canary Wharf on Right Move (excluding shared ownership options) was £330,000.  If the analysts are right, in 2020 that’ll cost £471,900.

In contrast, 661 miles away from Canary Wharf’s gleaming towers, I’m buying a three-bedroom detached house with stunning views, outbuildings and just under 10 acres for £95,000.  It really does make you wonder which end of the country is more out of kilter.