Research from the Bank of Scotland has revealed that young, career-minded urbanites are willing to pay a premium for Paddington properties for sale. Paddington came 6th in their list of the top 20 most popular postal areas, ahead of both Putney and Canary Wharf.
The average Paddington house price currently stands at a whopping £899,678 making it one of the most expensive areas within the top 20. In comparison, properties for sale in Fulham go for an average of £782,588 and the average house price in Kilburn (9th on the list) is the highest, at £1,099,481. Streatham properties for sale were the least expensive on the list. The average house price in Streatham is currently £256,359.
The Bank of Scotland found that young, career-minded high earners are willing to pay a premium of up to 40% to live in one of London’s most desirable areas.
Here, we take a look at Paddington properties for sale and identify the area’s amenities and travel links.
What’s so great About W2?
Located in central London, Paddington was once regarded as a less than desirable district. Whilst it would be unrealistic to suggest that the entire area is free from problems, these days it enjoys a far finer reputation than it did as little as 10 years ago.
Paddington properties for sale are good for those looking to live in a largely residential area with easy access to green spaces. It takes a mere 5-10 minutes to walk to Hyde Park from the heart of Paddington, and you’ve also got Regent’s Canal and Little Venice, an attractive and peaceful canal-side gem, only 15 minutes away.
The shopping is excellent. Paddington itself is served by branches of Sainsbury’s and M&S Simply Food. Nearby Marylebone is full of independent boutiques and cafes. Marble Arch can be reached in around 15 minutes by foot and you can be at Oxford Circus in 20 by tube.
Once upon a time, the nightlife and cultural scene in Paddington was a bit lacklustre. Things are improving in both areas all the time. There are some brilliant old school boozers like The Prince of Wales on Harrow Road, along with trendier hangouts such as The Oak, on Westbourne Park Road. There are some excellent cafes, like Gusto, along with a number of quality Thai restaurants.
Properties for sale in Paddington range from stucco period conversions to mid-20th century ex-local authority flats and brand new builds. Houses are in short supply. Most properties for sale in Paddington tend to be flats and large apartments.
Properties for sale in Paddington start at around £180,000 for a studio. These are few and far between. Even ex-local authority flats in high rise blocks go for around £240,000. This is after all, central London. You can expect to pay at least £280,000 for a one bed flat in Bayswater. If you want to live in a mansion block on Porchester Road, be prepared to pay around £390,000 for the privilege.
Two bedroom ex-local authority flats in Paddington start at around £280,000. In Little Venice, you can expect to pay around £315,000 for a private two bed flat. Westbourne Park Road is a popular location, with flats for sale for around £330,000. More prestigious address such as Heron Court on Lancaster Gate, command prices in the region of £600,000 for a two-bedroom residence.
Right at the top of the spectrum you’ve got wow factor properties for sale in Paddington for around £8million. For that, you’ll get a four bedroom duplex apartment in a prestigious development with 24-hour concierge overlooking Hyde Park.
Paddington properties for sale are good for those who want to live in Zone 1 and enjoy access to the Bakerloo, Circle, District and Hammersmith & City Lines. The area is home to one of London’s major railway stations and lies within a few tube stops of St Pancras. You could be in Paris in a couple of hours. Fast and regular Heathrow Direct and Heathrow Connect trains to terminals 1, 2 and 3 run from Paddington station. The area also benefits from good bus links into the West End.
Drivers can connect to the A40, A4 and A5.
Search My Homes Unlimited listings for a wide range of properties for sale in Paddington.
Sources: Bank of Scotland.