City of London

Area Guide For City of London

City of London is a city and ceremonial county within London, preferably known as just The City. It is one of two districts of London to hold city status; the other is City of Westminster. A major business and financial centre, throughout the 19th century, the City was the world’s primary business centre, still to this day continues to be a focal meeting point for businesses. The 2011 census confirmed the City has a resident population of around 7,000 but over 300,000 commute into work everyday. The City is made up of 25 wards. They are survivors of the medieval government system that allowed a very local area to exist as a self-governing unit within the wider city.

 
 

City of London Map

Estimated Price: £807,363
Average Asking Price: £1,154,298
Price change in last one year: £93,385
Average Price Paid: £599,903
Average Rent Rates: £2,763

 
 

Property Prices Breakdown in City of London

Average Price for property in City of London is around £807,363 which varies based on type of property you are interested in and ranges from £1,844,072 for detached house to around £1,567,180 for semi-detached. Similarly terraced house is around £1,339,185 and a flat is worth £787,689. Values have been changing and have risen £904 in last 3 months alone. Similar historical trend can be observed in price changes e.g. prices changed £3,411 in last 6 months, £93,385 in last 1 year, £146,794 in last 2 years, £221,276 in last 3 years, £189,416 in last 4 years and £217,436 in last 5 years.

Currently average asking price of a property in City of London is around £1,154,298 based on approximately 466 properties for sale. Same is the case with rental options based on 1,189 properties up for rent, average asking rent is around £2,763 per month.

Estimated property value in City of London is £807,363. Average asking price is £1,154,298 while average price paid is £762,279 which is up by £93,385 and Avg. asking rent £2,763.Based on an Online Survey

Buyers are willing to pay high dollar prices to grab these properties because of the recent trend in real estate investment especially in City of London area. In last 1 year alone average price buyer paid is around £762,279 based on approximately 466 sales in City of London area alone. If you compare it to last 3 years sales of 1,741 properties where buyers paid around £653,449. It has been same for some time now for e.g. if you take an average of amount paid in last 5 years, it comes to around £599,903 for 2,889 and average amount paid for purchase of approx. 3,813 properties sold in last 7 years comes to about £565,217 per sale.

 
 

Properties For Sale in City of London

 
 

Breakdown of asking prices for homes of different sizes show that price varies clearly based on no of bedrooms and type of house. Asking price for a house with 1 bedroom is around £651,429, £1,315,000 for a 2 bedroom house, £1,743,119 for a 3 bedroom house, £3,450,000 for a 4 bedroom house and £3,087,500 for a 5 bedroom house. For a flat similarly the prices varies from £740,009 for a single bedroom to £1,161,899 for a 2 bedroom Flat. Same is the case with 3 bedroom flat £2,101,147 and £6,950,000 for a 4 bedroom flat. To sum up the asking prices for properties in City of London it comes to around average £737,216 for 1 bedroom property, £1,167,467 for 2 bedroom, £2,019,312 for 3 bedroom, £4,908,333 for 4 bedroom and £3,087,500 for a 5 bedroom property.

Rent per calendar month varies similarly based on type and size of the house. If you look at the rents per month for houses alone it can vary from £2,578 for 1 bedroom to £5,325 for 2 bedroom and £14,437 for 5 bedroom. But if you are interested in renting a 1 bedroom flat then rent per month can be around £2,354. As the no. of bedroom increase so will the rent e.g. for a 2 bedroom flat it will be around £3,148, £6,004 for 3 bedroom and £3,553 for 4 bedroom. You should be generally be expecting around average £2,358 rent per month for single bedroom property, £3,214 for 2 bedroom, £6,004 for 3 bedroom, £3,554 for 4 bedroom and approximately £14,437 for a 5 bedroom property in City of London area.

Popular Houses in City of London

Disclaimer : Location real estate estimates and values are based on House price index background data and Sales data provided by United Kingdom Land registry Records available as public records from their website. This information is updated monthly on our website and may not reflect all public transactions. This information is based on estimated calculation generated from our developed algorithms. We are striving to make this information as accurate and useful as possible. This data covers the transactions received at Land Registry in the period 1/1/1995 to 9/1/2014. © Crown copyright 2014. Data produced by Land Registry © Crown copyright 2014.

Sold Properties in City of London

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