Local market reports › W area › W2
Paddington market report W2, London
The standing W2 (Paddington) property market report, rebuilt from the full public record every month. This page is built from the public record and nothing else: 29,250 completed sales registered with HM Land Registry in W2 (London) since 1995, plus current ONS rental figures. There are no valuations, estimates or asking prices in it.
Sales recorded to July 2026; rents are ONS figures for May 2026. The page rebuilds with each monthly release.
In short: the middle 2026 sale in W2 (London) came in at £740,000, out of 117 registered, down 22% on five years earlier, and the mean stands at £980,500, and by floor area homes here have averaged about £15,100 per square metre over the last five years. The record behind it is 29,250 completed sales lodged with HM Land Registry since 1995, monthly refreshed, with no valuations or asking prices anywhere in the figures.
The postcode district W2 covering Paddington, Bayswater, Hyde Park sits in London. A district is the workhorse unit for reading a market: local enough to be meaningful, busy enough that the medians rest on a steady flow of sales.
Where W2 sits
Shaded by median price on the same scale as the average prices map. Click any shape to open it on the live map with every sale plotted at its address, or zoom in past street level to see the sold homes right here.
The going rate for a home in W2
In the W2 property market, the 2026 median sale price is £740,000, from 117 registered sales; the mean, the "average house price" most sites quote, is £980,500, sitting a long way above it, which tells you a few very expensive sales are pulling the average up.
Price per square metre in W2
A square metre of W2 home has cost about £15,100 on average across the last five years of sales, using the floor area on each home's Energy Performance Certificate: the measure that puts a studio and a five-bed on the same footing.
The national median for England and Wales is £285,000, which puts W2 160% above the country at large.
A typical W2 home, priced year by year (1995 to 2026)
The median as recorded at the time, and each year restated in today's money (ONS CPIH), the sharper test of whether homes really got dearer. Hover for the year-by-year figures; click a legend entry to isolate a series.
See this chart as a table
| Year | Median (cash) | Median (today's £) | Sales |
|---|---|---|---|
| 2026 | £740,000 | £740,000 | 117 |
| 2025 | £830,000 | £849,848 | 428 |
| 2024 | £1,000,000 | £1,063,205 | 515 |
| 2023 | £941,200 | £1,034,149 | 480 |
| 2022 | £950,000 | £1,113,983 | 649 |
| 2021 | £951,500 | £1,204,722 | 752 |
| 2020 | £1,022,500 | £1,326,715 | 490 |
| 2019 | £900,000 | £1,179,685 | 424 |
| 2018 | £830,000 | £1,106,406 | 401 |
| 2017 | £965,000 | £1,316,163 | 523 |
| 2016 | £886,300 | £1,239,942 | 596 |
| 2015 | £820,000 | £1,158,660 | 592 |
| 2014 | £850,000 | £1,205,873 | 881 |
| 2013 | £686,000 | £987,086 | 768 |
| 2012 | £615,000 | £905,203 | 746 |
| 2011 | £625,000 | £943,510 | 800 |
| 2010 | £593,000 | £929,977 | 864 |
| 2009 | £500,000 | £803,754 | 705 |
| 2008 | £480,000 | £786,821 | 677 |
| 2007 | £456,500 | £774,351 | 1,472 |
| 2006 | £389,000 | £675,254 | 1,512 |
| 2005 | £350,000 | £622,859 | 1,144 |
| 2004 | £333,000 | £604,793 | 1,357 |
| 2003 | £320,000 | £589,518 | 1,474 |
| 2002 | £290,000 | £545,632 | 1,605 |
| 2001 | £250,000 | £480,612 | 1,387 |
| 2000 | £240,000 | £471,000 | 1,489 |
| 1999 | £200,000 | £398,590 | 1,485 |
| 1998 | £164,000 | £331,046 | 1,248 |
| 1997 | £149,000 | £305,569 | 1,416 |
| 1996 | £132,500 | £279,437 | 1,258 |
| 1995 | £118,000 | £256,514 | 995 |
In cash terms the typical W2 home went from £118,000 in 1995 to £740,000 in 2026, roughly 6 times the price. Even after inflation that is a real rise of about 188%: homes here genuinely became dearer, not merely more expensive on paper. Measured in today's money the market peaked in 2020; the current median sits about 44% below that. Someone who bought at the 2020 peak has not yet seen that price back in real terms.
Year-on-year change in the W2 median
Each bar is the change on the year before, in cash. The zero line is the boundary between rising and falling.
The strongest year on record here is 2014 (+23.9% on the year before); the weakest, 2025 (−17.0%). Single-year swings like these are why the annualised table below matters more than any one year's headline.
What W2 has returned, per year
| Period | Cash, per year | Real terms, per year |
|---|---|---|
| 1 years (since 2025) | −10.8% | −12.9% |
| 5 years (since 2021) | −4.9% | −9.3% |
| 10 years (since 2016) | −1.8% | −5.0% |
| 20 years (since 2006) | +3.3% | +0.5% |
Compound annual growth of the median sold price; the real column deflates by ONS CPIH. Annualised figures smooth the cycle (the chart above shows the cycle), and past growth is a record, not a forecast.
Detached, semi, terraced, flat: four markets in one
A single median hides the split beneath it. Sales of flats dominate the record here, 91% of the typed total. In 2004, the last year both were recorded here, a detached home traded at £4,125,000 against £315,000 for a flat, 13.1 times the price.
Median by property type, W2
One line per type, years with too few sales omitted. Hover for the year's figures; click a legend entry to isolate a type.
| Type | Median (2026) | Sales that year | All-time sales |
|---|---|---|---|
| Detached | £4,125,000 (2004) | – | 45 |
| Semi-detached | £3,438,000 (2025) | – | 182 |
| Terraced | £2,125,000 | 9 | 2,506 |
| Flats | £690,000 | 107 | 26,431 |
Sales activity in W2
The year-by-year sales count
Recorded sales per year. The dip after 2008 is the financial crisis; the last bar is still filling in as recent sales get registered.
The last five years, month by month
Monthly registrations. The sawtooth is seasonal; the register runs weeks behind completions at the right-hand edge.
Over the last twelve months of data, 284 sales completed in W2. Like most of England and Wales, turnover never fully recovered from 2008: the market here averaged 1,430 sales a year before the financial crisis and 438 a year over the last five. Volume matters as much as price: when few homes change hands, the median gets jumpy and a single street can move the figure. The most recent year is always still filling in, because sales appear in the Land Registry weeks or months after completion.
Reading the W2 market
Expect volatility in the annual figures: swings past ten per cent show up repeatedly above, and they usually reflect the mix of homes sold in a given year rather than genuine repricing.
What homes rent for around W2
For renting purposes W2 sits in Westminster. The ONS average private rent there is £3,163 a month (May 2026). A one-bed averages £2,517 a month here and a four-or-more-bed £5,378, so size does most of the work in setting the rent.
Average monthly rent by size, Westminster
ONS Price Index of Private Rents, May 2026.
Against the £740,000 median purchase price, a rent of £3,163 a month (£37,956 a year) works out at a 5.1% gross yield, a ceiling figure that ignores letting costs, voids, maintenance and tax. Because rents are local-authority statistics, districts sharing the authority share the figure.
What people ask about W2 (Paddington)
Is W2 (Paddington) a good place to buy a house?
How much did a house sell for in W2 (Paddington)?
Are property prices falling in W2 (Paddington)?
Where do W2 prices go next?
That question has no honest answer, only evidence. The evidence: the median is down 22% over five years in cash but down 39% after inflation. Weigh the volume chart alongside the price one before deciding anything, and bear in mind every figure is a completed sale that reached the register weeks after completion.
W2's current homes for sale
Everything above is what homes in W2 sold for. This is what you could actually buy today: 227 homes currently on the market from 18 agents publishing to HomesIndex, at a typical asking price 22% above the W2 median sold price.
35% of what is on the market here is asking below what comparable homes actually sold for. The comparison behind each listing uses recent recorded sales of similar homes close by.
"Under comparable sales" compares each asking price with what similar homes nearby actually sold for. It is a starting point for a conversation, not a valuation. Always look at the home itself.
See every W2 home for sale on the map →
These asking prices come live from estate agents publishing feeds to HomesIndex, refreshed each Monday and Thursday. They are a sample of the market rather than its entirety, and an asking price is not a sale price.
The price of an extra bedroom in W
The Land Registry record, split by size: what each kind of home actually sold for across the W area. How much a size step costs is a local fact: the third-bedroom premium runs from about a quarter to nearly four fifths depending on the area, and national rules of thumb miss it.
| Type | 1 bed | 2 bed | 3 bed | 4 bed | 5 bed |
|---|---|---|---|---|---|
| Detached | — | — | £1,185,000 | £1,648,050 (+39%) | £2,400,000 (+46%) |
| Semi-detached | — | £650,000 | £850,000 (+31%) | £1,175,000 (+38%) | £1,681,250 (+43%) |
| Terraced | £563,825 | £675,000 (+20%) | £875,000 (+30%) | £1,200,000 (+37%) | £1,750,000 (+46%) |
| Flat | £450,000 | £630,000 (+40%) | £1,100,000 (+75%) | £2,300,000 (+109%) | £4,100,000 (+78%) |
Four years of recorded sales, split by built form and bedroom count. The register does not state bedrooms, so sizes come from each home's EPC record and a few homes will land one size out. Blank cells mean too few homes for the figure to mean anything.
The risers and the fallers
W2 ranks 17 of 25 in the W area on five-year growth. The gap between the top and bottom of this chart is the difference between buying well and buying badly in the same city.
Winners and losers across the W area, five years
The districts that gained and lost most in cash terms, each row linking through to its own report.
Inside W2, sector by sector
Postcode sectors are the next slice down, each a group of streets with its own market report. Prices can differ sharply between two sectors a few minutes' walk apart.
| Sector | Median (latest) | Sales that year |
|---|---|---|
| W2 1 | £740,000 | 21 |
| W2 2 | £667,500 | 28 |
| W2 3 | £664,200 | 15 |
| W2 4 | £900,000 | 13 |
| W2 5 | £938,800 | 20 |
| W2 6 | £695,000 | 20 |
How W2 compares nearby
Same city, different markets. The neighbouring districts of the W area, dearest first:
| District | Median | 5-year |
|---|---|---|
| W1S | £4,666,000 | -9% |
| W1K | £4,085,000 | +0% |
| W1B | £2,003,800 | -53% |
| W1J | £1,700,000 | +14% |
| W1G | £1,450,000 | -14% |
| W8 | £1,135,000 | -45% |
| W1D | £1,007,500 | +64% |
| W11 | £950,000 | -21% |
| W1U | £893,200 | -31% |
| W1H | £892,500 | -40% |
| W4 | £822,500 | +6% |
| W2 (this report) | £740,000 | -22% |
| W1W | £725,000 | -12% |
| W10 | £702,500 | -2% |
| W13 | £691,000 | +6% |
| W1T | £675,000 | -56% |
| W6 | £661,000 | -12% |
| W9 | £625,000 | -9% |
| W12 | £623,800 | -17% |
| W5 | £585,000 | +2% |
| W14 | £577,500 | -21% |
| W7 | £571,800 | +6% |
| W1F | £565,000 | -53% |
| W3 | £430,000 | -24% |
Thinking of selling in W2? Get a rough value first
Start from what homes here actually sold for, not an estimate. Before booking a house valuation or flat valuation in W2, use the average prices map for a rough value: zoom from W2's shading down to the sold homes on your own street. The figures above are every recorded W2 sale; agents price with this same Land Registry record, and now you have it too.
Local estate agents: one agent per district gets the featured spot on this report, free for founding agents. Claim W2.
Go deeper
Behind the answers sits the same Land Registry record as this page, with W2 already set as the subject. Free, one click sign in.
The live map plots every individual W2 sale at its exact address, and the average prices map zooms from neighbourhood shading to single homes. For a specific question, the report tool writes a custom answer, and any sale's mortgage and rent calculator runs the numbers on a real purchase.
Method, briefly: HM Land Registry Price Paid Data (Crown copyright, OGL v3.0) supplies every sale, geocoded to address level; CPIH from the ONS restates prices in today's money; ONS local-authority figures supply the rents. Medians of real sales, not valuations. No part of this page is financial advice.