Westminster Property Market: House Prices, Sold Data & Development Finance, Q3 2026 Edition

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

The Westminster property market recorded 2,445 residential sales in the 12 months to 31 May 2026, with a median sale price of £825,000. This places Westminster £340k above the Greater London county median of £485,000, and £540k above the approximate UK median of £285,000.

Prices in Westminster have recorded a notable decline, a year-on-year change of -10.8%. Within Greater London, Westminster ranks 6th by price out of 51 principal towns, and 29th by transaction volume.

On a quarterly view, Westminster median prices moved from £950,000 in Q3 2024 to £850,000 in Q4 2025, a change of -10.5% over 5 quarters. Westminster has now recorded 2 consecutive quarters of price falls. The most recent quarter is excluded because HM Land Registry registrations for it are still incomplete.

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.

Westminster City Council, the local planning authority covering Westminster, approved 1,416 residential planning applications and refused 182 in the last 12 months, with 305 still awaiting a decision. That is an approval rate of 89%.

Those applications propose around 395 homes, an estimated £317.1m of development value at local sale prices. Treat the unit total as an upper bound, since an outline permission and its reserved-matters application both count.

Westminster City Council covers more than one town in Greater London, so these figures are authority-wide rather than specific to 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 £4.54m, while flat properties are most accessible at £725,000. The £3.8m spread between the most and least expensive types indicates a diverse market with opportunities across the development spectrum.

HM Land Registry has so far registered 39 new-build sales in Westminster for the past 12 months, 1.6% of registered transactions. New-build sales are typically registered 6 to 18 months after completion, so this understates current delivery and is not a completions figure.

New-build and existing sales in Westminster differ too much in property mix to quote a like-for-like new-build premium: the gap between their median prices mostly reflects what is being built (for example, a small number of high-value schemes) rather than what a comparable new home commands.

Across the wider Greater London market, 1,285 new-build sales have registered so far. See our Greater London property market report for the full county picture.

The table below shows the most recently registered residential sales in Westminster, 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 £500,000 to £784,000 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 £825,000 and detached homes at £3.05m, lenders can assess scheme viability with confidence.

A typical development finance facility for a scheme in Westminster with a GDV of £3.05m would attract senior debt of approximately £1.98m 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 10.8% 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.