Key indicators for buyers
The W1M market is moderately favourable for buyers. Prices have softened (-12.2%), which could present a buying opportunity. 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 W1M sold for £180,000 in 2003, with a median of £180,000 across 1 transactions. Prices fell 12.2% compared to the previous year.
2003averages · HM Land Registry Price Paid Data
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 £180,000 with a 25% deposit (£45k), a 2-year fixed mortgage at 3.97% costs around £710 per month.
Monthly cost comparison based on current data
Uses W1M avg. price with City of Westminster rental data
Monthly mortgage payments (£710) are £2,428 less than renting (£3,138). However, buying requires an upfront deposit of £45k — it would take around 1 years to recoup that cost compared to renting and investing the difference.
Latest transactions · HM Land Registry Price Paid Data
| Address | Type | Price | Date |
|---|---|---|---|
10, AIR BREAK, 99, MARYLEBONE HIGH STREET, LONDON W1M 3DD | Flat/Maisonette | £180,000 | 14 Feb 2003 |
20A, NOTTINGHAM PLACE, LONDON W1M 3FB | Flat/Maisonette | £205,000 | 9 Feb 2001 |
FLAT 1, 5, PICTON PLACE W1M 5DD | Flat/Maisonette | £210,000 | 18 Jun 1999 |
FLAT 1, 5, PICTON PLACE W1M 5DD | Flat/Maisonette | £210,000 | 18 Jun 1999 |
SECOND AND THIRD FLOOR FLAT, 15, NOTTINGHAM PLACE, LONDON W1M 3FF | Flat/Maisonette | £208,000 | 1 Oct 1998 |
FLAT 3, 27, NOTTINGHAM PLACE, LONDON W1M 3FF | Flat/Maisonette | £193,000 | 24 Jun 1998 |
FLAT 4, 9, WELBECK STREET, LONDON |
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.
| Flat/Maisonette |
| £374,500 |
| 12 Jun 1998 |
PART OF, 4, PART OF, CHY HWEL W1M 7TD | Flat/Maisonette | £270,000 | 23 Mar 1998 |
FLAT 1N BLOCK 1, PORTMAN MANSIONS, OAKS ROAD W1M 1PX | Flat/Maisonette | £245,000 | 27 Jun 1997 |
GROUND FLOOR FLAT, 15, NOTTINGHAM PLACE, LONDON W1M 3FF | Flat/Maisonette | £156,000 | 23 Apr 1997 |
FLAT 4Y BLOCK 4, PORTMAN MANSIONS, OAKS ROAD W1M 1LF | Flat/Maisonette | £130,000 | 17 Jun 1996 |
SECOND AND THIRD FLOOR FLAT, 15, NOTTINGHAM PLACE, LONDON W1M 3FF | Flat/Maisonette | £225,000 | 30 Nov 1995 |
3, TREBOROUGH HOUSE, SEYMOUR PLACE W1M 3FP | Flat/Maisonette | £140,000 | 5 Jun 1995 |
PART OF, 62, PART OF, COLLEGE HILL W1M 3RR | Flat/Maisonette | £154,000 | 4 May 1995 |
FLAT 2, 18, MANCHESTER STREET, LONDON W1M 5PG | Flat/Maisonette | £142,500 | 31 Mar 1995 |
14, DUDLEY HOUSE, SEYMOUR PLACE W1M 7HJ | Flat/Maisonette | £125,500 | 28 Feb 1995 |
The most recent recorded sale in W1M was a flat/maisonette property on Marylebone High Street for £180,000 in February 2003. Across the last 16 sales, the median price was £205,000.