The average property value in Westminster is £1,594,680 according to property sale data for the year ending June 2021 published by HM Land Registry. Between the years ending June 2020 and June 2021, property values in Westminster fell by £256,877. Compare house prices by area
Average property prices in Westminster fell by 13.9% between the years ending June 2020 and June 2021. Between the years ending June 2011 and June 2021, property prices on average grew by 5.8% per year.
If prices in Westminster continue to rise by 5.8% a year, the average property price will be £2,000,888 in 2025.
There were 1,932 property sales in Westminster in the year ending June 2021, a decrease of 22 when compared to the previous year.
The average price for a house in Westminster ranges from £2,876,440 for a terraced house to £5,468,095 for a detached house, with semi-detached in between costing on average £4,528,000.
The average price for a flat or maisonette in Westminster is £1,324,373.
Price trends for small areas may be less statistically significant due to small sample sizes.
Of the property types in Westminster, flat prices have risen the most between the years ending 2011 and 2021, and detached house prices have grown the least.
Detached house prices have risen 44.7% from £3,780,000 to £5,468,095, semi-detached house prices have risen 63.1% from £2,776,870 to £4,528,000, terraced house prices have risen 57.0% from £1,831,549 to £2,876,440, and flat prices have risen 73.2% from £764,504 to £1,324,373.
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The most common type of property sold in Westminster during the year ending June 2021 was flats, which accounted for 85.6% of properties.
The least commonly available type of property sold in Westminster were detached houses, which account for 1.1% of properties sold.
Of the properties sold in Westminster during 2021, 1.8% were new build properties.
The average price paid for a new build property in Westminster was £2,132,180 higher than the average price paid for an existing property.
Of the new build properties sold, the most common type was flats (100% of new build properties sold). For existing properties, the most common type is flats (85% of existing properties sold).
The most common price band for property sales in Westminster is £600k - £800k, which accounted for 13.0% of properties sold in 2021.
28.8% of properties in Westminster had a price over £1 million. For comparison, in England, 2.1% of property sales were priced at over £1 million.
The cheapest properties in Westminster were in the £100k - £150k price bracket, accounting for 0.1% of sales.
Average property price
YoY change in price
Average Property Price
YoY CHANGE in PRICE
Source: Office for National Statistics licensed under the Open Government Licence v.3.0. Contains OS data © Crown copyright and database right 2021. Data sources: ONS Local statistics