Homes with the best broadband are the cheapest!
With Labour’s plans to give away free broadband if they get elected, national fast sale estate agent, Springbok Properties, has looked at the current house price cost in areas with the best broadband speed and how it varies across the board.
Springbok Properties looked at each category of broadband speed across every constituency in the nation and how house prices in these areas corresponded, as well as looking at the best and worst areas when it comes to house price cost for every megabyte per second of broadband speed.
The data shows that on average, homebuyers are paying £5,324 in house price costs for every one of the 48.79 megabytes per second of broadband speed.
Perhaps surprisingly though, the lowest average house price is found in areas with the highest broadband speed, an average of £189,077 for homes with 70+mbps.
The sweetest spot for property values? Between 50Mpbs to 60Mbps with the average house price in areas with this broadband speed hitting £283,959.
But where is home to the best value?
When looking at the best value based on the cost of property paid for every Mbps of broadband speed, Liverpool Walton comes out on top with an average broadband speed of 61.3 and an average house price of just £75,000 meaning homeowners pay just £1,223 in property prices for every Mbps.
Kingston upon Hull East was the next best value (£1,253), with Burnley (£1,585), Great Grimsby (£1,605) and Aberavon (£1,624) also amongst some of the best value spots in the UK for a mix of house price value and good broadband speed.
At the other end of the table, the Cities of London and Westminster ranks as the worst constituency for broadband property price value. With an average house of £1,115,000 and a dire average broadband speed of 24Mbps, it costs home buyers £46,458 in property prices for every Mbps of broadband speed.
London dominates the worst value areas with Kensington, Westminster North, Chelsea and Fulham and Bermondsey and Old Southwark also amongst the worst value.
On a regional level, London is also the worst value at £9,066 for each Mbps, while the North East provides the best value at £2,670 for each Mbps.
Founder and CEO of Springbok Properties, Shepherd Ncube, commented:
“It’s amazing how something like broadband has become such an integral part of our day to day lives that it now influences everything from political promises to home buyer choice, but while good broadband can clearly influence a buyer’s decision, it seems that the homes that benefit from the very fastest speeds are actually the most affordable of them all.
This suggests that although broadband speed is important, it isn’t the most influential bargaining chip when it comes to negotiating price as long as you aren’t stuck in the dark ages or in a Wifi blackspot.”
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Broadband speed vs average house price
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Broadband speed – Mbps
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Average house price
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Average cost per Mbps
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48.79
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£259,745
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£5,324
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Category – broadband speed (average download speed)
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Average broadband speed (download)
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Average house price
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20 to 30 Mbps
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28.33
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£223,456
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30 to 40 Mbps
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33.80
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£241,356
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40 to 50 Mbps
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45.23
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£278,223
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50 to 60 Mbps
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55.59
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£283,959
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60 to 70 Mbps
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64.04
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£254,382
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70 + Mbps
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77.56
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£189,077
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Ranking – value per Mbps by region/country
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Region
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Average House Price
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Average Broadband Speed
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Cost per Mbps
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London
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£474,601
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52.4
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£9,066
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South East
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£329,197
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49.4
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£6,661
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East of England
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£291,993
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49.1
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£5,942
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South West
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£260,158
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46.7
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£5,572
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West Midlands
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£201,273
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50.5
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£3,983
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East Midlands
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£194,219
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50.8
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£3,822
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Yorkshire & Humber
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£165,745
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47.3
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£3,501
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North West
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£167,683
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49.8
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£3,366
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North East
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£132,769
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49.7
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£2,670
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Northern Ireland
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£139,951
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43.3
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£3,235
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Scotland
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£155,029
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46.0
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£3,371
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Wales
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£164,433
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39.4
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£4,171
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Ranking – by best value areas per Mbps
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Constituency / location
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Average House Price
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Average Broadband Speed
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Cost per Mbps
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Liverpool, Walton
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£75,000
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61.3
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£1,223
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Kingston upon Hull East
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£113,000
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90.2
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£1,253
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Burnley
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£90,000
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56.8
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£1,585
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Great Grimsby
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£119,125
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74.2
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£1,605
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Aberavon
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£105,250
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64.8
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£1,624
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Middlesbrough
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£109,995
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64.9
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£1,695
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Kingston upon Hull West and Hessle
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£115,000
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67.3
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£1,709
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Swansea East
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£115,000
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66.6
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£1,727
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Stoke-on-Trent Central
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£110,000
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63.7
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£1,727
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Kingston upon Hull North
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£126,000
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72.3
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£1,743
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Hartlepool
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£125,000
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70.6
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£1,771
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Stockton North
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£125,000
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70.4
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£1,776
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Nottingham North
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£123,000
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69.1
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£1,780
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Redcar
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£130,000
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71.3
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£1,823
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Bootle
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£125,000
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68.5
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£1,825
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Ranking – by worst value areas per Mbps
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Constituency / location
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Average House Price
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Average Broadband Speed
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Cost per Mbps
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Cities of London and Westminster
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£1,115,000
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24
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£46,458
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Kensington
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£1,360,000
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55.8
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£24,373
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Westminster North
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£770,000
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33.2
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£23,193
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Chelsea and Fulham
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£950,000
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46
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£20,652
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Bermondsey and Old Southwark
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£600,000
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35.9
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£16,713
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Hammersmith
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£700,000
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42.4
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£16,509
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Bethnal Green and Bow
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£520,000
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32.3
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£16,099
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Poplar and Limehouse
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£472,000
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30.6
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£15,425
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Chipping Barnet
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£530,000
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37
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£14,324
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Battersea
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£720,000
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50.3
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£14,314
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Beaconsfield
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£530,000
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38.3
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£13,838
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Islington South and Finsbury
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£679,200
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50.8
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£13,370
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Holborn and St Pancras
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£722,000
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54.1
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£13,346
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Saffron Walden
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£420,000
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32
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£13,125
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Hampstead and Kilburn
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£755,000
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57.8
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£13,062
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*House price data by constituency only freely available for England and Wales on a granular level, so while we were able to include Scotland and Northern Ireland within the top line statistics, we could not include them at consistency level.
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Sources
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Average house price
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> Constituency
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> Region-national level
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Broadband speeds
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