Areas of West London had a higher than average percentage of properties selling within the first three months of being on the market, according to LonRes data taken between April and June 2018.
Despite the appeal of East London to property hunters, with new developments and improving transport links luring buyers in, West London has maintained its desirability and has proved largely resistant to London’s recent property slump.
While 20.9% of properties sold within three months in West London, just 9.4% of properties achieved the same in popular East London postcodes – suggesting that would-be buyers need to look westwards rather than eastwards when it comes to purchasing a home.
It may come as a surprise – given that West London is often linked to affluence and expensive postcodes – but the statistics suggest that property prices are actually cheaper per square foot in the west of the capital. West London flats were up to £240,000 cheaper on average than their east London counterparts, while prices for entire houses were around £250,000 cheaper.
With lower prices per square foot and faster sales achieved, West London – which is rich in culture, history and entertainment – has unsurprisingly remained an attractive destination for homebuyers and investors alike.
The area is served by seven of the 12 London Underground lines, while it is also home to some of London’s finest green space. It also contains historic buildings and plenty of amenities, while recent redevelopment and regeneration in White City and Shepherd’s Bush has made these areas newly desirable.
In White City, the iconic BBC Television Centre has undergone major reconstruction, with the much-admired media landmark now offering a number of apartments which include a concierge and fitness facilities. In addition, the building plays host to White City House, the newest part of the Soho House family. This private space offers its members a cinema, spa and rooftop pool.
“In a climate where many are choosing to move out of London or indeed to the east, it is promising to see several clients returning from east London and some never leaving in the first place,” Paul Cosgrove, director at West London estate agent Finlay Brewer, commented.
“The established attractiveness of West London can only be improved upon as new developments arise which will parallel those in the East in a charming and eclectic western environment.”