Greater London

Area Guide For Greater London

London is the capital city of England and the United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its founding by the Romans, who named it Londinium. London's ancient core, the City of London, largely retains its square-mile mediaeval boundaries. Since at least the 19th century, the name London has also referred to the metropolis developed around this core. The bulk of this conurbation forms the London region and the Greater London administrative area, governed by the elected Mayor of London and the London Assembly. London is a leading global city, with strengths in the arts, commerce, education, entertainment, fashion, finance, healthcare, media, professional services, research and development, tourism and transport all contributing to its prominence. It is the world's leading financial centre alongside New York City and has the fifth-largest metropolitan area GDP in the world, and the largest in Europe (as of 2008). London has been described as a world cultural capital.


Greater London Map

Estimated Price: £613,565
Average Asking Price: £972,504
Price change in last one year: £60,743
Average Price Paid: £469,829
Average Rent Rates: £3,107


Property Prices Breakdown in Greater London

Average Price for property in Greater London is around £613,565 which varies based on type of property you are interested in and ranges from £1,096,340 for detached house to around £647,700 for semi-detached. Similarly terraced house is around £650,884 and a flat is worth £508,975. Values have been changing and have risen £3,773 in last 3 months alone. Similar historical trend can be observed in price changes e.g. prices changed £7,389 in last 6 months, £60,743 in last 1 year, £113,422 in last 2 years, £135,760 in last 3 years, £139,037 in last 4 years and £143,893 in last 5 years.

Currently average asking price of a property in Greater London is around £972,504 based on approximately 79,996 properties for sale. Same is the case with rental options based on 60,969 properties up for rent, average asking rent is around £3,107 per month.

Estimated property value in Greater London is £613,565. Average asking price is £972,504 while average price paid is £544,272 which is up by £60,743 and Avg. asking rent £3,107.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 Greater London area. In last 1 year alone average price buyer paid is around £544,272 based on approximately 79,996 sales in Greater London area alone. If you compare it to last 3 years sales of 246,243 properties where buyers paid around £495,926. 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 £469,829 for 397,473 and average amount paid for purchase of approx. 523,227 properties sold in last 7 years comes to about £447,181 per sale.


Properties For Sale in Greater 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 £422,320, £597,413 for a 2 bedroom house, £648,190 for a 3 bedroom house, £1,107,989 for a 4 bedroom house and £1,745,399 for a 5 bedroom house. For a flat similarly the prices varies from £480,052 for a single bedroom to £703,093 for a 2 bedroom Flat. Same is the case with 3 bedroom flat £1,393,045, £2,851,039 for a 4 bedroom flat and £6,351,092 for a 5 bedroom flat. To sum up the asking prices for properties in Greater London it comes to around average £477,501 for 1 bedroom property, £690,299 for 2 bedroom, £969,074 for 3 bedroom, £1,337,721 for 4 bedroom and £2,018,342 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 £1,508 for 1 bedroom to £2,739 for 2 bedrooms, £2,996 for 3 bedrooms, £4,386 for 4 bedrooms and £6,448 for 5 bedrooms house. But if you are interested in renting a 1 bedroom flat then rent per month can be around £1,821. As the no. of bedroom increase so will the rent e.g. for a 2 bedroom flat it will be around £2,597, £4,718 for 3 bedroom, £7,797 for 4 bedroom and around £12,615 for 5 bedroom flat. You should be generally be expecting around average £1,791 rent per month for single bedroom property, £2,610 for 2 bedroom, £4,112 for 3 bedroom, £5,585 for 4 bedroom and approximately £7,686 for a 5 bedroom property in Greater London area.

Popular Houses in Greater 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 Greater London

Transportation in Greater London

Areas in and around Greater London