UK House Prices Data Reveals Value of your Central London Home
By Maurice Shasha | Created on 13th December 2016
How much is your central London home worth? The latest UK House Price Index reveals the value of all sold property.
Buying residential property in any part of central London is a lifestyle choice that offers financial benefits.
UK house prices have been as good as gold for more than 10 years. In June 2006, for example, the average price of property in the City of Westminster was £440,489.
A decade later, that figure had jumped to £1,028,617.
In comparison, in June 2006 the price of gold sank from $730 an ounce to $543. Today, it is valued at $1,157.35 an ounce.
Property in central London will retain its value because of a shortage of homes in this part of the capital. But how much is your home worth on the open market?
It is worth bearing in mind that the value of any central London home is dependent on a wide range of factors. These can include the property’s size, type, location, condition, who owns the freehold and even the time of year the property is put up for sale.
To give you an indication of how much your home has risen in value since its purchase, Plaza Estates delves into the latest UK House Price Index covering Westminster.
As a leading independent estate agent in central London, Plaza Estates is aware the UK HPI is not the only measure of local property values.
The UK HPI also takes into account transactions involving cash and mortgages to calculate changes to values compared with the previous month and the same time 12 months earlier.
Property values in the City of Westminster edged up 1.42% between May and June, according to the data for August, which covers transactions that were completed in June. The average price of a home in Westminster now stands at £1,028,617 – 10.77% higher than the figure for June 2015.
Flats and maisonettes in Westminster sold for an average of £969,896 in June – 1.48% more than the average price of £955,721 this type of property sold for in May.
In the whole of England, the average sale price of a home in June 2016 was £229,383. This is 0.8% higher than the previous month and 9.3% more than average values in June 2015.
How much is your home worth? For an up to date valuation of your flat or house in central London, contact Plaza Estates today.
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Maurice Shasha
The Property Industry has always and continues to interest me, and after joining Plaza Estates in 2008 I have experienced a market which has taught me alot. In my role advising clients on their purchases (together with our sales teams), managing the refurbishments for them (together with our management and design team), preparing the property for rentals (together with our rentals teams) or sales and being responsible for the Companies digital marketing I have seen the market from various aspects. The market is always changing and it is essential we constantly adapt, which since Plaza Estates was established in 1972 is something the company has always done. We pride ourselves in the personal relationship and service we have and give all our clients and being part of a company which is "big enough to cope and small enough to care" is something I really enjoy.
If you want 5-star reviews and want to remove negative reviews from Google, contact me via my profile; my contact details are listed there.
SM
Dear Eitan
In this whole sorry saga, with headbutting, unproactive lawyers, and a comatose estate agent etc etc, you have been a beacon of light throughout. Efficient, professional and responsive. This would never have got done without you.
Thank you.
All the best.
Maurice Shasha
We have been using Plaza Estates for many years for all our property requirements (sales, letting and management) and are delighted with the results and service they constantly deliver and provide!
KS
I generally dealt with the Marble Arch branch most of the time, but I can also say that the Knightsbridge office was also exceptionally helpful and professional on the occasions I did deal with them. Plaza Estates in general are excellent.
YZ
Have interacted with Plaza Estates across a couple of sites and always been impressed. Maurice must be the hardest working, most dedicated, helpful and knowledgeable account manager for any company anywhere! A real asset to the team!
LI
I have been a client of Plaza Estates for over 30 years and received excellent service. Both Rodney on the rental side and Fiona in the property management area have been have been attentive and helpful and always willing to go the extra mile on the few occasions when there were problems.
SA
Hope both of you are doing well. I wanted to thank you for always being there for us and for addressing our concerns promptly; safe to say you have been the best agents I have had the pleasure of interacting with.
KR
We have owned our Flat since 2008, which we purchased through Plaza. Our relationship with Plaza goes back to 1982 when we purchased a nearby flat and Plaza have handled all our lettings since then. I would have no hesitation in recommending Plaza - they will find you a good tenant and ensure your ...
MS
Thank you again for all your advice and calm attitude and charm. Nobody could try harder than you, and for which, we really thank you and appreciate it all, not just now, but over the years.
Thanks again for everything!
