Key indicators for buyers
The W1A market is moderately favourable for buyers. Affordability has improved from a peak of 25.4x in 2017 to 16.0x today.
Yearly averages · HM Land Registry Price Paid Data
The average property in W1A sold for £65,455,000 in 2018, with a median of £65,455,000 across 1 transactions.
House price ÷ median earnings · ONS data
Affordability data shown for wider City of Westminster area
A home in City of Westminster costs 16.0x the local median salary — very stretched, improving from a peak of 25.4x in 2017.
Average monthly rent · ONS Private Rental Index
Rental data shown for wider City of Westminster area
Average monthly rent in City of Westminster is £3,138, down 4.6% year-on-year. Rents have risen consistently over the past five years.
2yr fixed · 75% LTV · 25yr term · BoE avg. rate
Based on the average City of Westminster price of £65,455,000 with a 25% deposit (£16.4M), a 2-year fixed mortgage at 3.97% costs around £258,309 per month.
Monthly cost comparison based on current data
Uses W1A avg. price with City of Westminster rental data
Monthly mortgage payments (£258,309) are £255,171 more than renting (£3,138). However, buying requires an upfront deposit of £16.4M — it would take around 1363646 years to recoup that cost compared to renting and investing the difference.
Latest transactions · HM Land Registry Price Paid Data
| Address | Type | Price | Date |
|---|---|---|---|
TRANSFORMER CHAMBER, WELLS STREET W1A 3AE | Other | £65,455,000 | 19 Oct 2018 |
The most recent recorded sale in W1A was a other property on Wells Street for £65,455,000 in October 2018. Across the last 1 sales, the median price was £65,455,000.
Data sources (all free & public): HM Land Registry Price Paid Data & UK House Price Index · ONS Housing Affordability Ratios · ONS Private Rental Index · Bank of England Quoted Household Interest Rates · HMRC Monthly Property Transactions
Contains HM Land Registry data © Crown copyright and database right 2021. This data is licensed under the Open Government Licence v3.0.