Is size everthing?

I have just read an interesting article in the Mail. It caught my interest especially as I have been moaning about how small my new home is….This week, it was revealed that a former London broom cupboard - now a 60.5sq ft micro-flat - in Knightsbridge has been valued at up to a staggering £200,000. That's for a property that's smaller than a full-size snooker table.

 Daft? Perhaps. But it does have one major selling point: its local shop is swanky London department store Harrods. This places it in the heart of one of the capital's hottest locations, with Hyde Park on the doorstep and where even relatively ordinary flats regularly carry a multimillion- pound price tag. 

But is it really worth investing in a property little bigger than the average prison cell, even if it does come with one of the country's most desirable postcodes?

Well, that depends on what you're after. While small studio flats in London's best areas can go for less than £200,000, they're little more than tiny pied-a-terres, and are unsuitable for anything more than a single, and very tidy, resident.

But they are a worthwhile option for those willing to sacrifice space for a posh address or people who work in the capital but have a main home out of town. Indeed, by buying a weekday bolt-hole, commuters can save a fortune on travel costs and time.

According to the Land Registry, the average property price in Kensington and Chelsea is a mind-boggling £821,496. It has a designer kitchen and bathroom, an entertainment system and a truly fabulous address. There's even a window.

The only catch? The living/kitchen area is 10ft by 8ft, with the bed on a mezzanine. Cluttons has a slightly more spacious studio on salubrious Sloane Avenue. On the market for £225,000, it is under offer.

Again, size is limited: it features a 16ft by 15ft living/ kitchen area with a separate bathroom. But for location, it's more or less unbeatable.

Studio flats are often very small, but upmarket areas benefit from a strong market, making any property within them a good investment. In some Central London areas, prices are almost back to where they were at the peak of the market.'

While national property prices have increased by 5.2 per cent in the past 12 months, Kensington and Chelsea has outperformed, rising by an extremely healthy 11.2 per cent. Marylebone, north of busy Oxford Street, has one of the capital's most idiosyncratic shopping streets and is another good bet.