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Money never sleeps, but the people who make it have to! The City of London is renowned worldwide for hosting a global financial services mega-hub, a city within a city. Read on to discover what this unique part of the capital has to offer, and find some of the best new homes in the city and county of the City of London.
What is the city and county of the ‘City of London’?
It can seem a bit confusing at first glance, but the ‘City of London’ is in fact its own tiny county (and city) within the heart of London itself. Also known as the Square Mile, or just ‘The City’, the City of London only covers 1.12 square miles. This makes it the smallest ceremonial county in the UK.
It runs along the north bank of the Thames. Extending from the legal districts of Temple and Chancery Lane along to the Tower of London. Its northern limit is roughly around the famous Barbican performing arts centre. This small but important area makes up the beating heart of the financial services sector for which London is so famous.
Why live in City of London?
The city and county of the City of London is a unique place to live, even by London standards. While half a million commuters make the trip in for each working day, only about 8,000 people actually live here. This makes the City of London a tiny residential community, but one with immense importance to London and the UK.
In terms of concrete benefits to living here, let’s start with the obvious. The City of London is right in the heart of the capital’s never-ending action. The rest of London is immediately accessible since a whole 12 Underground stations are packed into the Square Mile.
As for the City of London itself, it’s an entirely walkable city. Given the richness of the architecture, civic buildings, statues and general beautification efforts across its length, walking is by far the best way to absorb the City of London. You definitely don’t want to own a car or even use taxis if you can avoid it! The City is among the busiest and most congested districts of London.
Walking around will also open your eyes to the sensational dining scene here. The financial district is crammed with large company headquarters, full of hungry executives and staffers. Therefore, it’s hardly surprising that there’s such a high concentration of outstanding restaurants and eateries in the Square Mile. You can find practically every major foodie scene and popular national cuisine represented here. While fine dining options abound, the Leadenhall Market is the place to go for a simple yet delicious lunch.
History and culture wise, The City of London contains some of London’s oldest and most important buildings. The Tower of London, Museum of London, St Paul’s Cathedral, Dr Johnson’s House and the Bank of England Museum are all located here. Of course, you only have to walk outside the Square Mile and you’re still in the heart of London itself. This puts you within reach of its thousands of cultural and historical attractions.
Average property prices in the city and county of the City of London
If you were expecting cheap property options in the City of London, prepare for disappointment. The Square Mile is one of the most desirable areas in the country, and this puts a hefty price tag on its property market. In December 2021, Zoopla recorded the average house price for City of London at nearly £900,000. This is more than triple the national average property price for England, which the ONS recorded as £288,000 in September 2021.
Despite a major dip in 2020 thanks to the pandemic, house prices are back on the rise for the City of London. Analysts are now talking about a ‘gradual return to normality’, as conditions improve. In fact, the whole of ‘prime central London’ has risen by 1.1% in 2021.
Luxury flats are a dominant part of the market here. However, there are also plenty of uber-smart townhouses (many of them period homes that have been sympathetically modernised) and some more inexpensive terraced house options to be found.
New homes in the city and county of the City of London: 10 best developments
If the thought of living in the heart of London’s financial district appeals, then it’s time to get looking. You’ll find the property market relatively small here, compared to other London areas, but it’s fast-moving and always exciting. Below are just five of the top-ranking property developments representing some of the best new homes in the city and county of the City of London.
*PLEASE NOTE these rankings take into account how recently reviews have been submitted, so may not match the overall star ratings shown. More recent reviews are given a greater weighting to reflect current building performance.
Central London is expanding and evolving at a pace that’s hard to keep up with. If you want to get a better idea of what’s going on here, consult our area guide below. Be sure to check back on this list too, as we regularly update the rankings based on the addition of new developments and reviews.
HomeViews provides verified resident reviews of the UK’s housing developments. We’re working with developers, house builders, operators, housing associations and the Government to recognise high performers and help improve standards in the built environment.
The post New homes in the city and county of the City of London: Top 10 developments appeared first on HomeViews.
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