SW1V (City Of Westminster) area guide
SW1V
City Of Westminster
The SW1V postcode district lies within or includes part of the following towns, counties, localities, electoral wards and stations: Churchill, City Of Westminster, London, Pimlico Station, Tachbrook, Vincent Square, Warwick.
Notes:
A Mouseprice property guide for SW1V City Of Westminster is coming soon. In the meantime, please have a look at the raw data and statistics about SW1V 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commentary below was written for the mouseprice.com website in 2006, please be aware that the comments below might be out of date.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:
The size of the property market in SW1V is 12556 homes.
When compared against a national average compound annual growth rate (CAGR) over the last 5 years of 12.5%, the growth in this postcode district has been 13.1%. This could well be because this is a 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.
The average property in this postcode district was valued at £446140 over the last 3 months.
Since 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 13.4. 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.
New transactions as a percentage of overall sales are 7%.
Housing stock:
Over half of the properties in the area are Flats, at 93.3% of the total housing stock.
For those buyers keen to purchase Detached Houses, this would not be an ideal area, because only 0.3% are this type.
The property in this area caters well for retirees and young couples who do not have large families.
A high proportion of property in this area is socially rented.
A lower than average proportion of property in this area is owner occupied. This suggests that there is a very healthy rental market.
The average price of a two bed property in this area is higher than the national average of £187894 at £429156.
Who lives here:
The average age in this area is 35.
Single people make up 51.8% of the population in this postcode district.
People here work very hard – men work, on average, 45 hours per week, whilst women work for 5 hours less.
This is one of the most densely populated places in the country, with 194.9 people per square kilometre.
The largest source of work in this area is Real Estate (28.4% of workers), followed by Financial Intermediation (13.2%).
This area has one of the highest proportions of degree educated people in the country, at 46.7%.