Westminster Inner London
Snapshot: n 241 units sold in 2012; down 5% from 2011 (254 units) n Ten of the 27 schemes in the construction pipeline saw units sold or allocated during 2012 n Average capital value was the highest among the Inner boroughs, as was the average £/sq ft
Table 4: Westminster sales & pricing headline figures 2012 Developments of 10 units or more
Sales rates Construction pipeline total
schemes units
Percentage of pipeline: sold
- completion
- under construction un-sold*
un-launched** 27 847 Headline numbers for active units:
48% 49% 47% 52% 32%
*all units that were not sold **% of pipeline total
sold in 2012 241 sold prior 2012 162 un-sold
un-launched
68 0
allocated to rental, RSL, bulk investment purchase 106
Private schemes/phases active in pipeline schemes
10 units 577 Key averages:
latest capital value (1,2,3 beds) 37.0% sq ft size 23.1%
Individual investors: acquired for investment
number of sales investor % taken from:
Table 5: Westminster key averages 2011-2012 Developments of 10 units or more – calculations based on sample units with both latest price and size only (1, 2 & 3 beds combined)
Westminster Inner London Prime London All London
2012 1,815 838
1,696 628
Average price (£/sq ft) 2011 1,632 763
1,519 594
% change 11.2% 9.8%
11.6% 5.7%
2012 2,286 687
1,823 500
Average price (£'000) 2011 1,668 615
1,536 451
% change 37.0% 11.7% 18.6% 10.8%
Table 6: Westminster initial pricing 2000-2012 (£ per sq ft) Developments of 10 units or more – calculations based on sample units with both initial price and size only
Date 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
Min
£307 £293 £382 £401 £464 £404 £515 £816 £593 £672 £972 £941
£1,100
1 bed (£/sq ft) Ave
£457 £550 £648 £693 £724 £669 £723
£1,134 £977 £987
£1,218 £1,310 £1,335
Max
£750 £835
£1,360 £983
£1,301 £1,052 £1,124 £1,935 £1,884 £1,218 £1,368 £1,849 £2,099
Min
£254 £304 £397 £388 £418 £469 £418 £671 £724 £698 £888
£1,007 £1,026
2 bed (£/sq ft) Ave
£429 £566 £727 £660 £662 £667 £728
£1,232 £1,160 £1,005 £1,177 £1,547 £1,509
Max £713
£1,286 £1,369 £1,283 £1,525 £1,462 £1,753 £2,682 £1,780 £1,341 £1,359 £2,294 £2,754
Min
£277 £334 £419 £372 £362 £428 £482 £609 £864 £693 £889 £939
£1,150
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3 bed (£/sq ft) Ave
£489 £502 £694 £683 £715 £623 £761
£1,413 £1,202 £1,036 £1,094 £1,812 £1,769
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Max
£969 £838
£1,710 £1,713 £1,654 £1,337 £2,044 £2,718 £2,030 £1,932 £1,452 £3,944 £4,160
O 71
2012 1,259 820
1,075 796
Average size (sq ft) 2011 1,022 806
1,012 759
% change 23.1% 1.7% 6.2% 4.8%
55% 264
Pricing Initial average £/sq ft 1 beds 1.9%
2 beds -2.4% 3 beds -2.3%
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