Central London is in the financial and economic heart of the city and spans several London boroughs including parts of Westminster, Camden, Islington, Kensington and Chelsea and the City of London.
Central London has become a hub for global technology companies in recent years, promoting a thriving housing market which has seen huge growth over this period. This, coupled with the substantial investment in the city’s transport infrastructure makes Central London one of the most exciting property markets in the world.
Central London has some of the most expensive properties in the UK and houses in these postcodes are in huge demand, but by looking further afield at up and coming areas can cost significantly less than more desirable areas and provide a good profit in the long term.
Sandwiched in between Notting Hill and Marylebone, Bayswater is an up and coming suburb which has benefited from investment over recent years, making it a popular location for those priced out of other prime areas of London. Within walking distance from Hyde Park and with good transport links to the rest of London, Bayswater is ideal for those looking for properties in Central London that provide great value for money.
Other areas that offer good value for money include Fitzrovia, Whitechapel and Soho, each with their own culture, shopping opportunities and nightlife to explore.
Central London’s Housing Market
Central London is one of the most expensive and competitive housing markets in the UK, attracting inner city professionals and foreign investors alike with an average property price of £1,665,000. The majority of property sales in Central London within the last 12 months consisted of flats, selling for an average of £1,533,000. Terraced properties averaged £3,266,000 and semi-detached properties averaged £7,608,000.
Value for money can often be found in Fitzrovia and Soho, and it is predicted that house prices could rise significantly over the next few years after an influx of technology firms set up headquarters in and around the area. Bayswater and King’s Cross have also seen significant regeneration projects in recent years, making them some of Central London’s most sought-after locations for both business and residential properties.
Mayfair, Notting Hill and Kensington are some of the most desirable postcode locations in London and are the top areas to look at for those searching for more desirable properties, but be prepared to pay a premium for properties in these locations as they are particularly in demand.
Central London Estate Agents
Those searching for estate agents in Central London will find lots to choose from, and because the housing market is strong and demand high it is an ideal time for sellers. Finding an estate agent that knows the local area, housing trends and provides a good service is imperative for a quick sale.
Average property listings in Central London run for 22 weeks, although this is largely dependent on the type of property being sold, its location and price.