Key indicators for buyers
The W1V market is moderately favourable for buyers. Prices are rising at 2007.8%, 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 W1V sold for £19,391,600 in 2017, with a median of £19,391,600 across 1 transactions. Prices rose 2007.8% compared to the previous year.
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 £19,391,600 with a 25% deposit (£4.8M), a 2-year fixed mortgage at 3.97% costs around £76,526 per month.
Monthly cost comparison based on current data
Uses W1V avg. price with City of Westminster rental data
Monthly mortgage payments (£76,526) are £73,388 more than renting (£3,138). However, buying requires an upfront deposit of £4.8M — it would take around 403992 years to recoup that cost compared to renting and investing the difference.
Latest transactions · HM Land Registry Price Paid Data
| Address | Type | Price | Date |
|---|---|---|---|
13, POLAND STREET W1V 3DE | Other | £19,391,600 | 25 Mar 2017 |
KAI KEE CHINESE RESTAURANT, 19, WARDOUR STREET W1V 3HD | Terraced | £920,000 | 19 May 2000 |
APARTMENT 45, 10, OVERBURY ROAD W1V 5AG | Flat/Maisonette | £305,000 | 11 Jun 1998 |
GROUND FLOOR PREMISES, 13, POLAND STREET, LONDON W1V 3DE | Terraced | £100,000 | 17 Aug 1995 |
GROUND & BASEMENT PREMISES, 12, POLAND STREET, LONDON W1V 3DE | Terraced | £100,000 | 17 Aug 1995 |
APARTMENT 45, 10, OVERBURY ROAD W1V 5AG | Flat/Maisonette | £280,000 | 1 May 1995 |
The most recent recorded sale in W1V was a other property on Poland Street for £19,391,600 in March 2017. Across the last 6 sales, the median price was £305,000.
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.