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Living in central London offers all the sights and sounds that make London the city it is renowned for. From the London Eye to the Southbank, and from Camden markets to live music lounges in Islington, Central London has plenty going on.
Of course, with such high prestige comes high property prices. So if you are looking to move out of the area, what can you expect when selling your home?
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Looking to sell your Central London home?
Central London is one of the most expensive areas in the UK for property, and as such, you should expect to achieve an average of around £1,368,530 for your property. However, this can change vastly depending on location, your property type, as well as the number of bedrooms on offer. Some flats will go for less than £500,000, while houses in Belgravia can achieve upwards of £30,000,000.
Property in Islington is the least pricey in the area, although you can still expect to achieve around £1,082,370. Property in Westminster and Camden are the most expensive in the area and should go for around £1,547,210-£1,998,688 on average when sold.
Looking to rent your home?
You may be wanting to move from the area but keep your property to rent out. So what can you expect when putting your property on the rental market? Property in the City of London is in high demand and will achieve an average income of £4,606 PCM.
Lambeth and Islington are more affordable for renters, although you can still expect an income of around £2,500 per month in these areas. Westminster and Camden will bring in about £3,000-£4,000 PCM on average.
Buyer demographic in Central London
The City of London attracts people that are slightly older than the rest of London, where the average is 36 years old. The City of London, however, attracts an average age of 41 years old, where the majority of the population are professional singles.
Property is in high demand across the whole of Central London, with most home sales being completed within 91 days. Lambeth and Islington are the quickest to be sold, at an average of 75-80 days, while there is insufficient data for the City of London.
Camden properties take the longest to sell at around 102 days to sell.
Similar locations to Central London
Central London is home to some of the biggest landmarks in the capital city. If you are looking for a little more peace and quiet while remaining in London, consider moving to Enfield or Haringey in North London.
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