Property prices in W1F – an analysis

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Exploring property prices when buying property in W1F is a vital part of the process of buying and the purpose of this article is to give you an overview. This article by Cozee aims to tell you how the house prices over time in W1F have changed and then give you an indication of what the key elements are that shape property price at the moment and will into the future.

Looking at the significance of average prices of property transactions in the area of W1F

The average price is here to help you define how much you should be buying a property for or give you an estimate of how much you could sell it for. The average price gives you a very quick overview of the property market in your area. But this does not mean that your property will sell for this price nor should you put an offer for this price. You will have to factor in the specificities of the property you are looking at. Please see below to check in detail the different factors impacting the price.
Before considering buying or selling a property. Cozee recommends that you also have a look at the median price. The median price gives you the price for which 50% of the properties sold in W1F were sold for a higher price and 50% of the properties were sold for a lower price.
For example in W1F in 2019 there were 5 Flat sold. The median price was £590,000. This means that 50% of the Flat sold in 2019 were sold for more than £590,000 and also that 50% of them were sold for less than £590,000.
Finally if you want a clear picture of how much your property is worth, our team of experts at Cozee are here to help. Their knowledge of the area is a guarantee of quality as they are connected to today’s market in W1F.

Looking to buy or sell your property in W1F?

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What are the factors influencing the property price in W1F?

When it comes to assessing the price of a property we tend to look at 7 main factors. These factors can be economic as well as demographic factors.

Location

We are all aware that the location of a property plays a crucial role in driving up or down the price of a property. Indeed the desirability of the neighbourhood and overall safety of W1F is key to understanding the price. That is why, when buying or selling a property it is important to have in mind the crime rate of the area.
We recommend that you have a look at Police.uk Unfortunately we were not able to gather sufficient data regarding crimes in W1F. Note: it is important to note that there is not a good correlation between a higher crime rate and the price of a property. If this can have an impact, this is not the only factor. A quick example is in central London. The property price are higher than the rest of the UK but property prices are still high.
Then comes the proximity with different amenities such as schools, hospitals, shopping centres and public transportations. These elements have a significant impact on the price of the property you might want to buy or sell. To help you get an idea of how this could affect the price of a property in W1F we have summarised these factors in the table below:

Type of amenities Number in W1F
NHS Trusts (hospitals) 0
Practitioners 0
Pharmacies 0
Schools 0
Shopping centres (within a 5mi radius) 21
Public transports (number of train or underground stations) 0 (for more details we recommend that you have a look at tlf

Economic conditions in W1F

In 2023, we are now all aware that the overall economic environment has a consequent impact on the property price. The Office for National Statistics provides a macroeconomic view of these factors.
The employment rate, the income level in W1F and the overall interest rates will either have a positive or negative impact on the prices you will be able to list your property for or the price you might end up paying. Please find below these indicators provided by the Bank of England and the ONS

Interest rates from the Bank of England over the period 2019-2024 The map below shows you in a very few clicks the income level of around W1F. If you are looking to sell your property this indicator might be very helpful to gauge how much you could ask for. The higher the income is in a certain area, the higher the affordability of the households will be. Finally, on top of the income level, you can also have a look at the employment rate within the neighbourhood of the property you want to buy or sell. The map below shows the percentage of usual residents aged 16 years and over who were economically active and in employment in local authorities, 2011 and 2021. As for the income level, an area with a higher employment rate will most likely fetch higher property prices.

Supply and demand in W1F and how to assess it

This is a basic economic principle but whenever the supply is low and the demand high, asking prices are growing accordingly and vice versa. This is true in your area. This means that if you are selling a property in a highly demanded area you might be able to benefit from an increase in price due to this principle. To assess the supply and demand of properties for sale in W1F, we recommend you to have a look at the number of listings on Rightmove, Zoopla and other listing platforms

Looking to buy or sell your property in W1F?

Our property experts give you a valuation in less than 24h or help you find the properties you have been dreaming of

Check how many properties are currently listed and check for how long they have been listed for. This will give you an idea of how long it takes to sell a flat, house or maisonette in your area.

Property size, features and overall state

When it comes to estimate the price of a property in W1F, estate agents are usually estimating the price per square foot. This means that the bigger the property is, the higher the price will reach. NOTE: this price per square foot in W1F can be impacted by the overall state of the property. A badly maintained property will see a lower price per square foot.
At Cozee we have simplified this for you and we want to provide you with the average price per square foot in your area depending on the property type.

Property Type 2020 2021 2022
Flat £14,058 unfortunately we have no data here £18,519
House unfortunately we have no data here unfortunately we have no data here unfortunately we have no data here
Maisonette unfortunately we have no data here unfortunately we have no data here unfortunately we have no data here

Finally a property offering several features will often reach a higher price. This means several bathrooms, a large number of bedrooms and a garden are factors driving the price up.

Browsing the features of your next place in W1F?

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Ongoing or Upcoming developments in W1F

Whenever an area welcomes new developments, it means that the area is attractive and that developers and public decision makers see a growing potential for the area. These developments such as new housing developments but also new train stations and shopping centres can drive the price of a property in W1F up. We have simplified you the task of finding out how many developments will come up in the coming years in W1F.

Type of development Number of planning applications
Residential 0
Transportation 0
Non residential 0
Planning proposal in progress 0
Green belt 1
Recycling 0
Other applications 0

Note: the applications below are the applications referred to the London Mayor by the local planning authority (usually W1F ‘s Council planning authority). These applications are for: development proposing more than 150 residential units, buildings over 30m in height or buildings over 1000 square metres on Green belt or Metropolitan Open Land)

Demographic indicators in W1F

One of the last major impacting factors of the price of a property in W1F will be the demographic indicators.
Population growth being the first. In W1F, over the past years the population has grown between 2011 and 2021 by 12.72% going from 1,510 to 1702. This type of population growth would usually have a positive impact on the price of the property you are trying to buy or sell. Note: if you see an incredible growth, this might either mean that your postcode did not have previous or enough data for 2011.
Finally the population growth is a good indicator for you if you are looking to buy a property with the intention of renting it out. A high population growth is usually a good indicator of how easy a property will be let.

Other factors impact the value of a property in W1F

At last, there are a few other factors that can have an impact on the price of the property you are looking to buy or sell. These additional factors to take into account are as follow:

  • Environmental factors: floods, droughts but also the overall climate.
  • Governmental factors: is there a specific regulation to facilitate/limit the access to property
  • Market trends: some neighbourhoods in London will see a rise in demand some years due to trends or housing booms while in economic turmoils the prices within the same neighbourhood might decrease more significantly

Compare the average property prices in W1F versus nearby locations

If you are looking to buy or sell in W1F, it might be a good idea to check how the prices are going in nearby neighbourhoods. This will help you get a better idea of the property market in W1F and help you make an offer or help you set your prices (note: we always recommend to get a professional valuation).

Nearby area Average property price in 2021 Rental prices (pcm) 2022 for a 2 beds Check our properties
SW5 £ 1378513 £ 2632 See rental properties in SE20

check our properties for sale in SE20

SW10 £ 1952373 £ 2751 See rental properties in SE20

check our properties for sale in SE20

W14 £ 1178811 £ 2223 See rental properties in SE20

check our properties for sale in SE20

W8 £ 3161479 £ 3095 See rental properties in SE20

check our properties for sale in SE20

SW6 £ 1243811 £ 2070 See rental properties in SE20

check our properties for sale in SE20

SW7 £ 2082927 £ 3183 See rental properties in SE20

check our properties for sale in SE20

W6 £ 958031 £ 2297 See rental properties in SE20

check our properties for sale in SE20

SW3 £ 2219071 £ 3067 See rental properties in SE20

check our properties for sale in SE20

W11 £ 2754133 £ 2739 See rental properties in SE20

check our properties for sale in SE20

W2 £ 1363848 £ 2618 See rental properties in SE20

check our properties for sale in SE20

How are the average price for houses, flats and other property calculated in W1F?

Analysing the Land Registry dataset spanning the past 12 years, we have accurately calculated the average price for a house, a flat and a maisonette in W1F. This involved adding up all prices paid in the area per property type and then dividing this total by the number of properties of that specific type.
Looking at the average price for a Flat in 2021. There were 8 properties sold in our area for a total amount of £12,575,000. So we’ll need to divide £12,575,000 by 8 to get a figure of £1,571,875 for the average price of a house.

How property prices have evolved in W1F?

In this article, you will be able to find out how the rent and sale prices of properties in W1F have changed. Please see below these charts showing how the property prices have evolved over time and how the rental prices have changed as well

Looking to buy or sell your property in W1F?

Our property experts give you a valuation in less than 24h or help you find the properties you have been dreaming of

It is useful to note that as you read this article, you will be able to find the average prices in the graph below that is based solely on data provided by the Land Registry. This means you shouldn’t consider this as an accurate valuation for your property in W1F at all and only use this information to form an understanding of how the property market has changed in your area and the wider area of London too.
Contact a member of our team for an accurate valuation.

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