City of London Area Guide

Originally known as the square mile, the City of London is the smallest of London’s districts in terms population and size. This world-famous centre of finance - with more businesses than permanent residents – makes for a superb place to live in the heart of London for its 10,000 or more residents

Originally known as the square mile, the City of London is the smallest of London’s districts in terms population and size. This world-famous centre of finance - with more businesses than permanent residents – makes for a superb place to live in the heart of London for its 10,000 or more residents. Incorporating areas such as Holborn and Barbican, the City enjoys close proximity to many high-density commercial areas as well as a number of London’s historic sites – such as the Tower of London and St Paul’s Cathedral – and the world-famous food markets of Spitalfields and Billingsgate.

Property market

£806k Average house price
£3,683 Average Rent, 2 Bed
4% Average yield
2% Price growth over last 5 years
22% Price growth 5-years forecast
31% Rental growth over last 5 years
16% Rental growth 5-years forecast

Lifestyle

1 Number of ‘Outstanding’ primary schools
0 Number of ‘Outstanding’ secondary schools
530 Restaurants and cafes
720 Number of shops
19% Proportion of open space
31 Number of stations
6b PTAL (Public Transport Accessibility Level)

Popular for high-income professionals looking for a pied-à-terre close to the office, residential property in the district can be in short supply. Although house prices in The City grew slowly over the last 5 years, they are expected to bounce back with higher-than-average growth over the next half decade. Likewise rental prices in the area are expected to increase above the average for London.

As well as offering a short commute to businesses across London, the City is a shopper’s dreamland with ample designer boutiques, luxury retail, and an array of markets offering something for everyone. Entertainment is in abundance too, with everything from Michelin-starred restaurants to street food, and fast-food outlets to independent coffee houses available on the doorstep. The City is home to fabulous architecture – including one of London’s grandest buildings, The Royal Exchange – and there’s a wide choice of bars, nightclubs and gyms to entertain.

As you would expect the City is one of the best-connected areas of London for public transport with a 6B (Excellent) PTAL rating. The area enjoys no fewer than 11 Underground stations – served by District, Circle, Central, Waterloo and City, and Northern lines - DLR services linking residents to Canary Wharf in just 20 minutes, fast access to all London mainline stations and international airports, and business favourite London City Airport just half an hour away. 

 

Insights

 

  • Average house price 56% above London average
  • Average rent for a 2-bed flat is 106% higher than the London average
  • House price growth over the last 5 years was 2%, lower than London at 10%. However, over the next 5 years, house price growth is expected to be 22%, higher than London at 19%
  • Average asking rents grew 31% over the last 5 years, higher than London at 14%
  • Average rents are predicted to grow by 16% over the next 5 years, higher than London at 14%
  • 473 restaurants and cafes per square mile, higher than the figure for London of 24.29
  • 643 shops per square mile, higher than the figure for London of 73.48

The City of London was founded by the Romans between AD 43 and 50. More than 300,000 people come to the City to work every day.

Home to famous landmarks such as the Tower of London, St Paul’s Cathedral and the Museum of London, you will never run out of things to see and do in the Square Mile. Visit the Sky Garden and watch the sunset over the city, explore the pubs around Leadenhall Market or dine into the early hours at Duck and Waffle.

London boroughs

Use the map below to find out what the other boroughs in London have to offer:

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Disclaimers

 

  • Average 2-bed yield is calculated by REalyse using median 2-bed asking rent and median 2-bed sales prices.  
  • Rental growth over the last five years is for all property (not 2-beds).
  • All data is the latest available as of January 2022.
  • PTAL – Transport for London's (TFL) Public Transport Accessibility Levels (PTALs) are a detailed and accurate measure of the accessibility of a point to the public transport network, taking into account walk access time and service availability. Each area is graded between 0 and 6b, where a score of 0 is very poor access to public transport, and 6b is excellent access to public transport.

 

Sources

 

  • Average Price – ONS, October 2021
  • Asking rent – Realyse, December 2021
  • Yield – Realyse, December 2021
  • House price and rental forecasts – CBRE Research - Read our five-year forecast 
  • Outstanding primary and secondary schools – OFSTED (December 2021)
  • Number of cafes and restaurants – ONS (2020)
  • Number of shops – ONS (2021)
  • Open space – GiGL (2015)
  • Number of stations – TfL (2015)
  • PTAL – TfL (2015)