Key indicators for buyers
The W1R market is moderately favourable for buyers. Prices are rising at 46.0%, which may favour acting sooner rather than later. 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 W1R sold for £365,000 in 2000, with a median of £365,000 across 1 transactions. Prices rose 46.0% compared to the previous year.
2000averages · 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 £365,000 with a 25% deposit (£91k), a 2-year fixed mortgage at 3.97% costs around £1,440 per month.
Monthly cost comparison based on current data
Uses W1R avg. price with City of Westminster rental data
Monthly mortgage payments (£1,440) are £1,698 less than renting (£3,138). However, buying requires an upfront deposit of £91k — it would take around 3 years to recoup that cost compared to renting and investing the difference.
Latest transactions · HM Land Registry Price Paid Data
| Address | Type | Price | Date |
|---|---|---|---|
FLAT 1, 5, PRINCES STREET W1R 7RA | Flat/Maisonette | £365,000 | 11 Jul 2000 |
FLAT 1, 5, PRINCES STREET W1R 7RA | Flat/Maisonette | £250,000 | 18 Mar 1999 |
FLAT 3, 5, PRINCES STREET, LONDON W1R 7RA | Flat/Maisonette | £249,950 | 3 Jun 1998 |
The most recent recorded sale in W1R was a flat/maisonette property on Princes Street for £365,000 in July 2000. Across the last 3 sales, the median price was £250,000.
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.