Westminster Property Market: House Prices, Sold Data & Development Finance, End of H1 2026

Central London super-prime market covering Pimlico, Victoria and St John's Wood with heritage-led conversions

The Westminster property market recorded 1,621 residential sales over the past 12 months, with a median sale price of £790,000. This places Westminster £305k above the Greater London county median of £485,000, and £505k above the UK national median of £285,000.

Prices in Westminster have shown a notable decline, with a year-on-year change of -12.2%. Within Greater London, Westminster ranks 6th by price out of 51 principal towns, and 34th by transaction volume.

Westminster median prices have moved from £818,750 in Q1 2025 to £750,000 in Q2 2026, a change of -8.4% over 5 quarters.

Westminster shares a HM Land Registry reporting district with neighbouring towns, and the source data does not distinguish Westminster-specific sales from the wider district. The figures above reflect the whole shared district rather than Westminster alone.

Property prices in Westminster vary significantly by type. The table below compares Westminster prices with Greater London county averages and UK national figures.

Semi-detached homes in Westminster command £4.61m, while flat properties are most accessible at £700,000. The £3.9m spread between the most and least expensive types indicates a diverse market with opportunities across the development spectrum.

Westminster recorded 11 new-build transactions in the past 12 months, representing 0.7% of total sales. There is moderate development activity, with room for further growth.

New-build properties in Westminster traded at a premium of 388.9% versus existing stock. This premium supports the viability of new development, as buyers are willing to pay more for new homes.

Across the wider Greater London market, 412 new-build completions were recorded — see our Greater London property market report for the full county picture.

The following table shows the most recent property transactions recorded in Westminster, providing real-time evidence of achieved prices for buyers, sellers, and developers:

These transactions are sourced from HM Land Registry Price Paid data and represent completed, registered sales. The range from £365,500 to £790,000 illustrates the breadth of the Westminster market.

For developers considering Westminster, the local market data translates directly into finance structuring. With a median value of £790,000 and detached homes at £2.90m, lenders can assess scheme viability with confidence.

A typical development finance facility for a Westminster scheme with a GDV of £2.90m would attract senior debt of approximately £1.89m at 65% LTGDV. Mezzanine finance can stretch total borrowing to 85-90% of costs, while bridging loans enable rapid site acquisitions completing in as little as 5 working days.

While prices have softened 12.2% year-on-year, experienced developers can still generate strong returns in Westminster by targeting well-located sites with clear demand drivers.

Ready to develop in Westminster? Submit your scheme for indicative terms within 24 hours from our panel of 100+ lenders.

To put Westminster's market in context, the table below compares it with similarly-priced towns across Greater London:

For the full Greater London town-by-town breakdown, see our comprehensive Greater London property market report.