Average House Buying Prices in Paddington

Average House Buying Prices in Paddington

 

Paddington remains at the top of the housing market, and there's a good reason why. 

There are a plethora of answers as to why Paddington dominates London's housing market – a unique look, placed right in the centre of the capital of the UK, and is located in one of the biggest and fastest-growing cities in the world. 

In this article, we will be stating the average costs for buying a house in Paddington, as well as how much you can expect to pay just to get through an average day in Paddington. 

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There's a High Cost That Comes From Individuality

Because Paddington offers an entirely different aesthetic compared to the usual dreary looks of London, Paddington gives off a highly unique feel and style – almost akin to a village in the middle of a bustling city. 

This is due to the fact that Paddington aesthetics takes inspiration from Victorian England, often using cobblestone or other classic materials to build its amenities. 

Not only that, but Paddington is also just a short walk away from Baker Street, home to the fictional character Sherlock Holmes. Around the whole area surrounding Paddington, you can find Sherlock Holmes themed restaurants, bars, shops, and more. In addition, there is a museum dedicated to Sherlock Holmes on Baker Street, which is adored by tourists and locals alike. 

As you'd expect, all the previously mentioned points make Paddington's houses go for mind-boggling prices. 

To get to the point, the average cost of a house in Paddington is around £1,120,896. That's right. Even to get a standard home that people would pass by without much thought, you'll be paying seven figures. 

Although, Paddington does offer some of the best returns on investments for its properties as well as relatively stable conditions. 

The Closer You Are, The More You Pay 

As is the case in most locations, the closer you are to the action, the more expensive properties become. If you decide you want to buy a property right inside some of the most famous streets in Paddington, you can expect to pay much higher than average for a home in Paddington. 

Not only do the prices of homes skyrocket the closer you get to the centre, but the cost of living can also begin to become extremely costly. London is already known for its high cost of living. Simple things like going out for food or drinks can cost a whole day's wages. However, this is even more applicable when talking about Paddington. 

Even though you'll still have to pay an eye-watering price tag for properties on the outskirts of Paddington, compared to the rest of the district, homes on the outskirts can be considered a steal. 

So, expect to pay a small fortune in order to not only buy a house in Paddington but to live in Paddington day-in-day-out. Although, for people who want to live in Paddington but aren't too concerned about being right near the action, the outskirts of Paddington can offer an excellent middle ground.

Conclusion 

It's no secret that Paddington has some of the highest prices for homes out of the whole UK. However, Paddington can be a fantastic location to live for people who have excess capital or even provide an extremely profitable investment opportunity. 

If you are interested in viewing the newest and most up to date properties for sale in Paddington, feel free to browse through our website. We have access to new homes for sale almost instantly, and we can improve the chances of you being able to get your hands on your dream home. 

For more information about buying a home in London, don't hesitate to get in contact with us.



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Fees

Refundable Holding deposit

Capped at 1 weeks rent

Security Deposit

Capped at 5 weeks rent for annual rental under £50,000, or 6 weeks rent for annual rental over £50,000

Rent

The agreed monthly rent

Changes to tenancy

Capped at £50 inc VAT

Early termination charge

Not exceeding the landlord’s financial losses

Late payment of rent

Interest of 3% above BoE base rate for each day the rent is late, once it is 14 days overdue

Replacement keys

Reasonable costs or give the tenant the option to purchase themselves

Utilities, council tax, communication services, TV Licence etc

Tenants own responsibility unless otherwise stated in contract

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