Based on data from the UK Land Registry which uses a Hedonic Regression methodology (based on around 490 flat sales in the area), City of Westminster properties have performed well above the London average which registered a 2.9% growth.
Land Registry statistics may be accessed via a simple platform provided on the BBC website:
Similar increases of around 8% were recorded based on the average asking price within the Westminster area as recorded in Primelocation’s House Price Index.
The Central London property market needs to be seen in isolation from national or regional price statistics because of a number of important factors:
- Demand based on both local and international demand
- Because of a diverse demand base, several buyer and tenant profiles account to a demand across the price spectrum.
- Central London planning legislation restricts large supplies of new developments. The largest supply of new developments tends to concentrate on city fringes and the edges of London.
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