Evolution of property prices in W1W provided by the Land Registry

Home » Welcome to Cozee » Resources » Properties prices in London – An evolution over time » Evolution of property prices in W1W provided by the Land Registry

Modern residential unit at night in London

Cozee is dedicated to offering comprehensive insights into the fluctuations of sold house prices, property prices, and various property options in W1W. Within this text, we aim to present to you simply and easily how historical shifts in house prices have occurred and then present an analysis of the factors influencing property values in W1W too. So, read on for all of the information you require.

How has the cost of property changed in W1W?

In this article, you will be able to find out how the rent and sale prices of properties in W1W 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 W1W?

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 W1W 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.

Looking at the significance of average prices of property transactions in the area of W1W

The average price serves as a useful tool in determining the appropriate purchase price or providing an estimate for potential property sales. It offers a swift overview of the local property market in your area. However, it's crucial to understand that this figure doesn't necessarily represent the exact selling price, and it's not advisable to make an offer based solely on the average. Specific property details must be taken into account, considering the unique features of the property you are interested in. Further details regarding the various factors influencing the price are provided below for a more comprehensive understanding.
Prior to delving into property endeavours, Cozee emphasises the importance of exploring the median price as an invaluable indicator. By revealing the price at which 50% of the properties in W1W were sold for more and 50% for less, the median price adds depth to the understanding of house prices. Distinguished from the average, this metric provides a clearer picture of the distribution of property values in the local market. It serves as a strategic tool for buyers and sellers, aiding in well-informed decisions regarding property transactions and contributing to a more transparent and dynamic property market.
In the property market during 2019, observe the exchange of 51 Flat units. The median price, marked at £1,449,000, signifies a pivotal point where 50% of these Flat transactions surpassed £1,449,000, and the remaining 50% fell below. This detailed breakdown of £1,449,000 illuminates the diverse spectrum of house prices in W1W during 2019, providing essential insights for those considering property purchases or sales. For a comprehensive understanding of your property's worth, Cozee's expert team is at your service, boasting unparalleled knowledge and connectivity to the contemporary market trends in W1W.

Looking to buy or sell your property in W1W?

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

What are the factors influencing the property price in W1W?

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 W1W 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 W1W. 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 W1W we have summarised these factors in the table below:

Type of amenities Number in W1W
NHS Trusts (hospitals) 0
Practitioners 0
Pharmacies 3
Schools 1
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 W1W

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 W1W 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 W1W. 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 W1W 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 W1W, 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 W1W?

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 W1W, 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 W1W 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 £16,639 £15,844 £15,390
House £12,033 £3,595 £3,595
Maisonette £27,102 unfortunately we have no data here £8,305

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 W1W?

Reach out to our property experts for a quick call, they will help you completing this life changing project

Ongoing or Upcoming developments in W1W

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 W1W up. We have simplified you the task of finding out how many developments will come up in the coming years in W1W.

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

Note: the applications below are the applications referred to the London Mayor by the local planning authority (usually W1W ‘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 W1W

One of the last major impacting factors of the price of a property in W1W will be the demographic indicators.
Population growth being the first. In W1W, over the past years the population has decreased between 2011 and 2021 by -14.84% going from 4,434 to 3776. This type of population growth would usually have a negative 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 W1W

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 W1W versus nearby locations

If you are looking to buy or sell in W1W, 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 W1W 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 W1W?

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 W1W. 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 29 properties sold in our area for a total amount of £31,244,716. So we’ll need to divide £31,244,716 by 29 to get a figure of £1,077,404 for the average price of a house.

Looking to buy or sell your property? Go with Cozee

  • Trusted estate agent
  • More than 25 years of experience combined
  • We help you focus on your objective (investment, 1st time buy)
Skyscrapers of London

Leave a Reply

Your email address will not be published. Required fields are marked *