Finding value in London: price per sq ft

[flyingfido]

Hi everyone,
My name’s John and this year I bought a flat in Kennington, London (my first home, wahey!). To be honest, I got a bit pissed off during the process particularly working out where to buy a property in London and how much to pay.

My problem was that I wasn't sure if what I was paying for was good value for the area that I was looking at. I spoke to some friends in property and they always mention price per sq ft as the best way to pick up a bargain, however, I couldn’t find any metrics to use as a comparison.
This frustrated me. So I want to create a website that will tell people whether or not the house they are buying is good value (by allowing them to compare houses of the same size, number of bedrooms etc. in the same area). I will do this by comparing houses based on the price per sq foot in each area. However, I want to gauge whether this would be of interest to others.

If you help me out I'll give you free access to the site and/or a copy of this information once I've pulled it together. All I need is for you to answer 3 questions below. I'm trying to figure out if others are having these problems and whether the information I can provide would help to solve this problem.

1. When looking at houses, do you have a problem figuring out if what you are paying for is good value?

2. If each time you viewed a house someone were to tell you whether or not the price good value (by using price per square foot for similar properties in the postcode/area to calculate
how much the property is worth), then would you find this information useful?

3. How much would you be willing to pay for this information?

If you are interested in this, then please write the answers below in this post or send me an email at john [at] buyahouseinlondon [dot] com and I’ll send through a free copy of the answers as soon as they are ready and will give you future access to the site.

Also, let me know any other thoughts you might have about this.

Cheers.

John