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. 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.

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