Chinatown

Area Guide For Chinatown

Chinatown is past of the City of Westminster, occupying the area in and around Gerrard Street. It contains a number of Chinese restaurants, bakeries, supermarkets, souvenir shops, and other Chinese-run businesses. There is a large residential block called Vale Royal House, which houses a number of families, professionals and single men and women. This block was built in the 1980s and is important for providing housing for the China Town car park underneath it.

 
 

Chinatown Map

Estimated Price: £1,035,057
Average Asking Price: £1,369,494
Price change in last one year: £57,531
Average Price Paid: £872,480
Average Rent Rates: £3,240

 
 

Property Prices Breakdown in Chinatown

Average Price for property in Chinatown is around £1,035,057 which varies based on type of property you are interested in and ranges from £1,321,328 for detached house to around £2,487,062 for semi-detached. Similarly terraced house is around £2,389,507 and a flat is worth £950,772. Values have been changing and have risen £3,248 in last 3 months alone. Similar historical trend can be observed in price changes e.g. prices changed £8,114 in last 6 months, £57,531 in last 1 year, £183,540 in last 2 years, £271,612 in last 3 years, £290,148 in last 4 years and £309,473 in last 5 years.

Currently average asking price of a property in Chinatown is around £1,369,494 based on approximately 20 properties for sale. Same is the case with rental options based on 155 properties up for rent, average asking rent is around £3,240 per month.

Estimated property value in Chinatown is £1,035,057. Average asking price is £1,369,494 while average price paid is £1,422,125 which is up by £57,531 and Avg. asking rent £3,240.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 Chinatown area. In last 1 year alone average price buyer paid is around £1,422,125 based on approximately 20 sales in Chinatown area alone. If you compare it to last 3 years sales of 81 properties where buyers paid around £1,134,734. 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 £872,480 for 180 and average amount paid for purchase of approx. 223 properties sold in last 7 years comes to about £831,062 per sale.

 
 

Properties For Sale in Chinatown

 
 

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 £944,158, £2,616,667 for a 2 bedroom house, £2,850,000 for a 3 bedroom house and £2,000,000 for a 4 bedroom house. For a flat similarly the prices varies from £950,953 for a single bedroom to £1,873,663 for a 2 bedroom Flat. Same is the case with 3 bedroom flat £2,789,545 and £4,200,000 for a 4 bedroom flat. To sum up the asking prices for properties in Chinatown it comes to around average £950,121 for 1 bedroom property, £1,997,497 for 2 bedroom, £2,802,500 for 3 bedroom and £3,100,000 for 4 bedroom.

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 £3,304 for 2 bedroom to £12,783 for 3 bedroom. But if you are interested in renting a 1 bedroom flat then rent per month can be around £2,822. As the no. of bedroom increase so will the rent e.g. for a 2 bedroom flat it will be around £3,846, £6,359 for 3 bedroom and £6,500 for 4 bedroom. You should be generally be expecting around average £2,822 rent per month for single bedroom property, £3,821 for 2 bedroom, £6,853 for 3 bedroom and approximately £6,500 for 4 bedroom property in Chinatown area.

Popular Houses in Chinatown

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.

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