13.07.2015 Views

Housing Needs Assessment 2006 - Westminster City Council

Housing Needs Assessment 2006 - Westminster City Council

Housing Needs Assessment 2006 - Westminster City Council

SHOW MORE
SHOW LESS
  • No tags were found...

You also want an ePaper? Increase the reach of your titles

YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.

5. The local housing market5. The local housing market5.1 IntroductionThis chapter sets out the results of an analysis of housing market prices and rents in <strong>Westminster</strong>.Information was collected from two sources:• Land Registry• Survey of local estate and letting agentsThe analysis provides a context for the property price situation in <strong>Westminster</strong> and then a sequenceof analyses based on information collected from estate/letting agents. This leads to figures thatshow the minimum price/rent of housing for a range of dwelling sizes.5.2 National, regional and local pictureInformation from the Land Registry shows that between the 4 th Quarter of 2000 and the 4th quarterof 2005 average property prices in England and Wales rose by 79.7%. For London the increase was47.7% whilst for the <strong>City</strong> of <strong>Westminster</strong> the figure was 45.2%.The table below shows average prices in the 4th quarter of 2005 for each of England and Wales,London and the <strong>City</strong> of <strong>Westminster</strong>. The table shows that average prices in <strong>Westminster</strong> are overthree times the average for England, and over twice the London average.Table 5.1 Land Registry average prices (4th quarter 2005)Area Average price As % of E & WEngland & Wales £191,327 100.0%London £289,247 151.2%<strong>Westminster</strong> £590,661 308.7%Source: HM Land Registry, property price data, <strong>2006</strong>PAGE 53

Hooray! Your file is uploaded and ready to be published.

Saved successfully!

Ooh no, something went wrong!