If you had the money, would you prefer to buy this London flat or own an entire property empire in South Essex? 

The London housing market has been booming for years, so we all know that the cost of a property in the capital is on the pricier end of the scale. 

With the average house price in the area coming in at around £369,595, according to Zoopla, you could buy yourself more than 12 homes for the same price as just one in London. 

But dare to dream, if you’ve got that much cash to splash you can definitely afford some variety. 

Here are the nine South Essex properties you could buy for the price of this one London home: 

£5,000,000 

Queen Street, Mayfair, London

Echo:

Described as fully refurbished to an immaculate standard, this three-bedroom flat in Mayfair comes in at a whopping £5million. 

Keeping some period elements throughout including the original façades the property aims to provide contemporary living in a historic setting. 

However, for this extreme price you would not get any private outdoor space, sports facilities or parking. 

Is it really worth it? 

Here's what you could get in South Essex for the same cost: 

£1,395,000

Lodwick, Shoeburyness, Southend

Echo:

Every property mogul needs an impressive pad to live in themselves and what better home than this one in Shoeburyness. 

Boasting panoramic sea views and a huge garden backing on to the water, this detached property is a millionaire's dream.

The property has four large bedrooms, four reception rooms and three bathrooms. 

£750,000

Wyatts Drive, Southend

Echo:

This three-bedroom detached Goldsworthy house backs on to Thorpe Hall Golf Course and enjoys fabulous views. 

Requiring a substantial amount of refurbishment this property is an ideal investment to add to any property empire due to its potential. 

£735,000

Shoeburyness, Southend

Echo:

A substantial property, this home has four large bedrooms, two reception rooms and a conservatory. 

Great for a busy family or a real petrol-head this house has ample off-street parking and even a triple garage. 

£500,000

Ashurst Avenue, Southend

Echo:

Described as deceptively spacious, this three-bedroom family home has two bathrooms and three reception rooms. 

The property benefits from a good sized and beautifully established rear garden that's not overlooked.

£500,000

Western Esplanade, Southend

Echo:

Apartment 1.2 is situated in a prime waterfront location boasting epic sea views. 

Boasting a sunny south facing terrace this flat is a great investment for any property empire. 

£250,000

North Avenue, Southend

Echo:

In need of some modernisation this three-bedroom property is offered with no onward chain. 

A great little investment to add to any multi-million-pound property empire, this home has great potential in terms of immediate resale value and rental yield. 

£250,000 

Marine Avenue, Westcliff

Echo:

Situated in the highly sought after Shorefield Conservation Area is this two bedroom ground floor flat.

Boasting a secluded courtyard garden the property is offered with a share of the freehold with no onward chain. 

£250,000

Southend-on-Sea

Echo:

This three-bedroom terraced property has a south-facing garden and is offered to the market to 'Buy To Let' investors.

The property has been tenanted for approximately twelve years by the present tenants paying £1000pcm and wishing to remain.

£250,000

Southend-on-Sea

Echo:

Requiring some refurbishment this is a great investment property. 

Boasting two-bedrooms, this mid-terrace house has a modern kitchen and a first floor bathroom. 

Leaving you with some spare change, this South Essex empire comes in at £4,880,000. 

Compared to the flat in Mayfair you'd be able to get these nine properties and still have £12,000 left over. 

If you had the money what would you do - buy one home in London or an empire in South Essex? Let us know in the comments.