W1W (City Of Westminster) area guide

W1W
City Of Westminster
The W1W postcode district lies within or includes part of the following towns, counties, localities, electoral wards and stations: City Of Westminster, Great Portland Street Station, London, Marylebone High Street, Oxford Circus Station, West End.
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Notes:

A Mouseprice property guide for W1W City Of Westminster is coming soon. In the meantime, please have a look at the raw data and statistics about W1W that can be found by click the relevant links on the left hand side.

Old area guide:

The commentary below was written for the mouseprice.com website in 2006, please be aware that the comments below might be out of date. We recommend disregarding these comments in favour of the data that can be found either above or in the other sections of this website.

Market trends:

West London propertyThe size of the property market in W1W is 1779 homes.

West London propertyWhen growth averages 15.4% over a 5 year period, as in this postcode district, there are a number of possible explanations, for example that this isa dynamic local economy and housing market. Property price growth in this area has significantly exceeded growth in earnings and the national average house price growth, and so the likelihood of it continuing will be dependent upon price earnings ratio, as well as investment by developers and local authorities in continually upgrading local infrastructure, schools, in addition to the continued strength of the local and national economies and any other economies upon which the area depends.

West London propertyThe average property in this postcode district was valued at £373725 over the last 3 months.

West London propertySince most banks lend money to buy property using their customers’ salary as a indicator of affordability, the price earnings ratio is a useful guide as to whether property in an area is expensive or not. Price Earnings Ratio in this postcode district is 9.5. Places like this represent the “well- heeled” districts of each postcode area. Although recently there have been some spectacular price increases in more expensive areas, in general, prices appreciate slowly in more expensive places because there is less demand for more expensive properties, and the turnover of them is slower because they are not commonly used as investment property.

West London propertyNew transactions as a percentage of overall sales are 5.4%.

Housing stock:

City Of Westminster propertyOver half of the properties in the area are Flats, at 96.9% of the total housing stock.

City Of Westminster propertyThe least common type of property in this area is Detached Houses (0.3% of the total housing stock).

City Of Westminster propertyThe property in this area caters well for retirees and young couples who do not have large families.

City Of Westminster propertyA high proportion of property in this area is socially rented.

City Of Westminster propertyA lower than average proportion of property in this area is owner occupied. This suggests that there is a very healthy rental market.

City Of Westminster propertyThe average price of a two bed property in this area is higher than the national average of £187894 at £622597.

Who lives here:

City Of Westminster propertyThe population of this postcode district is 3161.
City Of Westminster propertyThe average age in this area is 33.
City Of Westminster propertySingle people make up 60.5% of the population in this postcode district.
City Of Westminster propertyPeople here work very hard – men work, on average, 44 hours per week, whilst women work for 6 hours less.
City Of Westminster propertyThis is one of the most densely populated places in the country, with 110.1 people per square kilometre.
City Of Westminster propertyThe largest source of work in this area is Real Estate (25.2% of workers), followed by Financial Intermediation (15.5%).
City Of Westminster propertyThis area has one of the highest proportions of degree educated people in the country, at 54.7%.