Mysterious house prices

Milton Keynes is expanding rapidly, and as a consequence housing density on new estates is being increased. This is being achieved by building on 3 storeys (even 3 bed houses), smaller gardens, and terraced housing.

The odd thing is that these crammed together houses seem to be fetching similar prices to "tarditional" houses with similar living space but on much larger plots.

There seems to be a paradox here. I thought that the reason house prices were different in different parts of the country was because of variations in land prices (it costs more or less the same to build a house in any part of the country).

Yet locally the house prices seem completely unaffected by the actual amount of land you are getting!

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anon
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I wonder how long till we go full circle and have the upper stories hanging over the pavement again ?

mrcheerful

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mrcheerful

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