A move to Westminster, or investment in property there, is going to give you probably one of the best-known addresses in the UK, so here are some reasons why it might be right for you.
House Prices 🏠
- Most expensive property: £3,864,632
- Average house price in Westminster: £2,972,363 (terraced properties)
- Cheapest property: £625,950 (flat)
Property Investment 🏠 🏠
- The City of Westminster in London is one of the capital’s prime locations for property investment – as suggested by current house prices
- Average prices in London are forecast to increase by 11% in the next five years
- The seat of government in the UK, Westminster is also home to a population of around a quarter of a million people – a higher proportion of whom are of working age than the average in other parts of the capital
- Containing some of London’s most prestigious landmarks, Westminster attracts multinational businesses to match, many of which have their headquarters in the borough
- Less well-known is the fact that the majority of firms here are small businesses, employing fewer than 5 people and a surprising 96% of businesses employ fewer than 50.
Location and Transport 🚌
- Westminster occupies a large part of central London, including most of the West End, making it one of the most important – and sought-after – hubs of the capital
- The mainline stations of Paddington and Victoria are within the City of Westminster, which is also served by underground and bus services
- The efficiency of public transport may be suggested by the fact that 62% of households in Westminster do not own a car.
- Government statistics indicate a total of 310 schools and colleges in or near the City of Westminster
- Some of the fee-paying independent schools – such as Westminster School – are amongst the best-known in the country
- Several colleges of the University of London – including Kings College and the London School of Economics – have campuses within the borough.
- London is known for its parks and open spaces – and the City of Westminster has some of the biggest in the capital in Hyde Park, Regents Park and St James’ Park.
Finally, did you know …
- It is illegal to die within the Palace of Westminster
- You might have thought that Cock Lane, near Holborn Viaduct got its name from an association with poultry – in fact it was one of the first sites in London to be licensed for prostitution (back in medieval times)
- Big Ben is the bell and not the clock tower.