Westminster sales and lettings market insights for Q1 2017

Westminster Lettings Market Update

The property market in Westminster has started well in 2017, with the completion of many new developments including Berkley's flagship, Abell House. This prestigious development in the heart of Westminster is opposite the iconic Burberry building and has a gym, pool, sauna, business suite and the option to order room service from the Hilton. It is also the first private residential development in the UK to be recognised by Les Clefs D'Or Society, which cements its position in upmarket Westminster. Buildings like this are pushing up rental prices and the quality of living, making it an extremely attractive place to reside. Access to the financial districts is easy and being able to walk out of your home and see some of London's most iconic architecture, means people are flocking to the area.

The rental market as a whole, is stable. We've seen the average time of a property coming on to the market to being let, shorten since Christmas, so we're avoiding periods where properties are left with no rental income being provided. With all the new developments, there is a larger amount of supply than normal. This does mean that tenants have a lot more to see before making a decision, but if the property is priced correctly and presented well, then there's nothing to stop a fantastic tenant from renting yours.

If you are considering letting your Westminster property in the near future, we may already have the perfect tenant waiting for it. For further information or to have a chat about what your home might be worth, contact Jo Frei (Lettings Manager).

Westminster Property Sales Market Update

The residential sales market in Westminster has seen a buoyant start to 2017 with a significant increase in activity from buyers making acceptable offers on property. After a challenging 2016, buyer confidence seems to be slowly coming back into the market and we are seeing more domestic and international buyers registering with us everyday. The sentiment from buyers appears to be positive and although the level of transactions in 2016 were down year on year, prices have remained resilient. Many vendors are in a position that they do not need to sell and so they have resisted reducing the prices of their property or accepting lower offers.


Prices have remained reasonable compared with neighbouring areas of Chelsea, Belgravia, St James's, Mayfair, Marylebone and the West End. The fundamentals remain the same; Westminster is walking distance to the river Thames, the West End and Sloane Square, with excellent transport links and surrounded by world famous landmarks such as the Houses of Parliament, Buckingham Palace and Westminster Abbey.

If you are considering selling your Westminster property in the near future, we may already have the perfect buyer for it. For further information or to have a chat about what your home might worth, contact Amir Ghomshei