Westminster House Prices and Rents Spring 2025
In Westminster this spring, residents are watching a noticeable shift in the housing market. Westminster house prices in the borough has dropped to £921,000 on average as of February 2025, a sharp 20.9% fall from the same time last year. While prices in other parts of London have crept upward, Westminster stands out for going the opposite way. For a borough where million-pound terraces and listed apartments are the norm, it’s a change that’s caught the attention of buyers, sellers, and renters alike.
EyeOnLondon has been looking at Westminster house prices and rents in spring 2025 capturing the wider trend: falling sale prices, yet rising costs to rent. While it’s become marginally more affordable to buy, especially for first-time buyers who are now spending around £830,000 on average, renting in the borough is more expensive than ever. In March 2025, the average monthly private rent in Westminster climbed to £3,277, up 11.3% on the year before. For context, that’s over £1,000 a month more than the London average.
What this means in practice is a more complex decision for those weighing up whether to rent or buy. For people relying on a mortgage, the average price paid in Westminster sits at £899,000. While that’s down from £1.13 million last year, repayments are still steep and reflect the borough’s prime postcode status. At the same time, cash buyers are paying just over £950,000 on average, suggesting that those with ready funds are still active in the area.
Even within the borough, there are big contrasts. Detached homes, on average, are priced at over £3.7 million, while flats and maisonettes, by far the most common property type in Westminster, now average around £823,000. Rents follow a similar pattern. One-bedroom flats average £2,591 a month, while a four-bed rental commands upwards of £5,600.
It’s worth noting that local trends can be sharper than national averages. With fewer properties changing hands than in outer boroughs or suburbs, short-term shifts tend to appear more dramatic. But looking across the last 12 months, there’s a clear cooling in house prices and a simultaneous heatwave in rental demand, especially in popular neighbourhoods like Pimlico, Marylebone, and Bayswater.
This duality, where buying becomes a bit less out of reach, but renting becomes harder to budget for, isn’t unique to Westminster, but the figures here are more extreme than most. And with no surge in new housing supply expected, it’s likely that rental pressures will continue even if sale prices remain soft.
For anyone trying to make a move this spring, whether getting on the ladder, downsizing, or just reassessing their options, these numbers tell part of the story. The other part is local knowledge: knowing which streets hold their value, which properties are being discounted, and what upcoming developments might shift the landscape again.
For more updates on Westminster house prices and rents spring 2025, and further insights across Central London, visit EyeOnLondon Westminster. We’d love to hear your views in the comments.
[Image Credit | The Wall Street Journal]
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