Property Data OutlookW1Y
17 recorded transactions · Part of City of Westminster
Compare with another area →Market outlook for W1Y
Key indicators for buyers
The W1Y market is moderately favourable for buyers. Prices have softened (-61.7%), which could present a buying opportunity. Affordability has improved from a peak of 25.4x in 2017 to 16.0x today.
Price trends
Yearly averages · HM Land Registry Price Paid Data
The average property in W1Y sold for £1,135,000 in 2023, with a median of £1,135,000 across 1 transactions. Prices fell 61.7% compared to the previous year.
Prices by property type
2023averages · HM Land Registry Price Paid Data
Affordability ratio
House price ÷ median earnings · ONS data
Affordability data shown for wider City of Westminster area
A home in City of Westminster costs 16.0x the local median salary — very stretched, improving from a peak of 25.4x in 2017.
Rental trends
Average monthly rent · ONS Private Rental Index
Rental data shown for wider City of Westminster area
Average monthly rent in City of Westminster is £3,138, down 4.6% year-on-year. Rents have risen consistently over the past five years.
Monthly mortgage
2yr fixed · 75% LTV · 25yr term · BoE avg. rate
Based on the average City of Westminster price of £1,135,000 with a 25% deposit (£284k), a 2-year fixed mortgage at 3.97% costs around £4,479 per month.
Rent vs buy snapshot
Monthly cost comparison based on current data
Uses W1Y avg. price with City of Westminster rental data
Monthly mortgage payments (£4,479) are £1,341 more than renting (£3,138). However, buying requires an upfront deposit of £284k — it would take around 18 years to recoup that cost compared to renting and investing the difference.
Recent sales
Latest transactions · HM Land Registry Price Paid Data
| Address | Type | Price | Date |
|---|---|---|---|
FLAT 13, 36, CLARGES STREET W1Y 7PJ | Flat/Maisonette | £1,135,000 | 15 Sept 2023 |
FLAT 2, 16, MOUNT ROW W1Y 5DA | Flat/Maisonette | £2,961,284 | 7 Jun 2011 |
FLAT 4, 128, MOUNT STREET, LONDON W1Y 5HA | Flat/Maisonette | £1,535,000 | 10 Mar 2006 |
FLAT A, 5, DAVIES MEWS, LONDON W1Y 1AR | Flat/Maisonette | £675,000 | 30 Apr 2004 |
FLAT C, 1 - 8, DAVIES MEWS W1Y 1AR | Flat/Maisonette | £460,000 | 13 Nov 2000 |
14, NORTH FORELAND ROAD W1Y 3WD | Terraced | £667,486 | 23 Jun 2000 |
BASEMENT AND GROUND FLOOR FLAT, 12, COLLEGE HILL W1Y 5PP |
Data sources (all free & public): HM Land Registry Price Paid Data & UK House Price Index · ONS Housing Affordability Ratios · ONS Private Rental Index · Bank of England Quoted Household Interest Rates · HMRC Monthly Property Transactions
Contains HM Land Registry data © Crown copyright and database right 2021. This data is licensed under the Open Government Licence v3.0.