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The City of Westminster is home to some of the most renowned landmarks in London, including St James’s Palace, Buckingham Palace, The Houses of Parliament and 10 Downing Street.
Much of the West End is also situated within the borders of Westminster, including the famous shopping streets of Oxford Street, Regent Street, Piccadilly and Bond Street.
Living in the City of Westminster is truly a privilege, but if you are looking to move away, what can you expect when selling your property?
Looking to sell your Westminster home?
Understandably, property prices in Westminster are high in comparison to other parts of London and the UK in general. When selling your property, you can expect to achieve a price of around £1,998,688 on average, with terraced homes selling for the highest price at £7,198,087 on average.
One bedroom flats are currently most in demand for the area and will be snapped up for £1.4 million on average.
Looking to rent your home?
If you are moving from the Westminster but looking to rent out your property, you can expect to receive an average monthly rental property of £3,962 PCM.
Rooms will achieve an average rent of £937 PCM while flats, which are most in demand and most advertised should reach a monthly income of £3,945. Houses should bring you a monthly income of £4,902 PCM.
Buyer demographic in Westminster
People moving to Westminster are generally a little older than the rest of London at 37 years old on average. Single professionals make up the largest majority in those moving to the area, although married couples are more likely to move here than other boroughs in London.
The average selling time for a property in the City of Westminster is 101 days, although this fluctuates vastly depending on your property type.
Terraced homes should be snapped up within 75 days on average, while detached homes, of which there are few currently for sale in the borough, usually sell within 221 days.
Similar locations to Westminster
Westminster is very much at the heart of London, with most of the city’s famous landmarks situated in this area. If you are looking to move somewhere a bit further away from the tourist spots, it might be worth considering a move to Kensington & Chelsea.
Comparemymove.com is the best start to planning any move, whether you are relocating within London, the UK or further afield. Get free quotes from Comparemymove.com and save up to 70% off your Westminster removals.
We work with only the best removal companies in Westminster – our vigorous approval process delves into third-party feedback, as well as each moving company’s official credentials and insurance policies.
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