City of Westminster House Prices: January 2018

Talking about the City of Westminster’s transport links is like selling ice to an Eskimo, there is almost no point, because in reality, this is where most people, tourists and commuters alike, are trying to get to! Needless to say though, that anywhere you are in the borough you are never more than 10 minutes’ walk from one of any underground line in which you can connect to any place in greater London and even further. You are so accessible that walking becomes not only possible but sensible and even cycling is worthy of consideration as there are cycling superhighways sprouting up all the time which allow safe and speedy passage across the borough with ease. For an area that takes in the Houses of Parliament, Downing Street, St James’ and Buckingham Palace it is no surprise that property prices here are sky high. Everywhere is expensive, and surprisingly a lot of the borough is actually residential. Belgravia and Mayfair are clearly the location of the super-rich and property and lifestyle are considerable if you have the money to fund it, but slightly further out places like Marylebone and Maida Vale are also fantastic inner city locations with prime features and amenities.

As of January 2018, the average value of property in the City of Westminster stands at £1,381,887 which represents a price rise of 2.12% for the period January 2017 to 2018. During this period the average price paid for property stands at £1,409,251.

Pimlico is off the beaten track but beautiful

Pimlico is often overlooked when you thing of Westminster but it has a picturesque riverside aspect and it a very residential area so if you are not aware it is not somewhere you would seek out. Home to the venerable Tate Britain though, it is a slightly slower backwater aware from the hustle and bustle. The average property price is still at a premium at £1,631,276 as of January 2018. This is a negligible rise of 0.01%. The average price paid in Pimlico in the last year is £1,486,209. If you are interested in moving here you might have to pay over the odds, but in terms of an asset, it does not seem like a place where you are taking a risk.

Belgravia is really for the high rollers. Nestled between Knightsbridge, Hyde Park and the seat of power, the Queens residence, you are in the most desirable location in the country. You would not expect anything less than a very sizable investment to buy here. The average price paid as of January 2018 is £3,711,924, whilst the current average value is very closely matched at £3,706,282. Static for growth this is a pricey area, but not one where you will lose money long term.

Maida Vale is cheaper but still very centrally located

Maida Vale is close to Regents Park and Lord’s Cricket Ground, if you like the sound of willow on leather. The average price paid here for the past year to January 2018 is £1,095,135, while the average value for property in the location is £986,850 a growth just in line with inflation of 1.63%. It is a quieter suburb but 3 to 4 stops on the tube to Soho, Leicester Square and a dazzling array of shops, nightlife and culture.

Prices here are not really comparable to the average for London. Clearly they are far in excess of the average price paid of £638,665 and the average property value of £678,333 but they are attainable for some who are fortunate enough to have a large amount of money. These locations will never go out of fashion and offer stunning locations, period property and immediate access to the Capital.

Want to know how much your home is now worth, request a valuation with our Estate Agency partners.