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Spitalfields House Prices Spitalfields House Prices

The average house price in Spitalfields is £410,000 using HM Land Registry data.

The average property price increased by £98,700 (15.28%) over the last 5 years and increased by £19,726 (2.72%) over the last 12 months.

Over the last year, there were 60 residential property sales – a decrease of 20 transactions (-33.33%) relative to the previous year. The majority of house sales (26) were in the £330,000 - £544,000 range. Then came properties in the £544,000 - £758,000 range, where 15 were sold within this price bracket.

Excluding fall throughs, properties are taking an average of 75 days to sell (from being listed to completion) and the average difference between asking and sold prices is £-21,428 (-3%).

In April 2024, there were 18 new estate agency instructions, 11 agreed home sales and 20 property price reductions.

Neighbouring Areas: Aldgate, Liverpool Street, Bethnal Green, Stepney Green, Whitechapel, Shoreditch

Postcodes Covered: E1, EC2M

5-Year Average Property Prices in Spitalfields

15.28%

Property prices in Spitalfields increased by 15.28% in last 5 years.

The trend shows the general price tendency over the last 5 years, ignoring all month-to-month fluctuations where anomalies - typically over or underpriced property sales - can skew results. These monthly variations typically do not have any long-term relevance.

We have used linear regression method. The volume of sales in a month is used to put more weight on months with a larger number of properties sold. Additionally, weighting decreases the impact of months with low sales volumes as well as the most recent month - which may consist of incomplete data. Such months have a higher variation of average sale values which may conceal the underlying trend.

From a statistical perspective, we use the least squares method to fit the trend line and weights are equal to the volume of sales squared. The volume of sales is not shown explicitly in the above plot. Also note the time lag for HM Land Registry data to appear (typically 2 to 3 months).

Average Property Prices in Spitalfields Over the Last Year

2.72%

Property prices in Spitalfields increased by 2.72% in last 12 months.

The trend shows the general price tendency over the last 12 months, ignoring all month-to-month fluctuations where anomalies - typically over or underpriced property sales - can skew results. These monthly variations typically do not have any long-term relevance.

We have used linear regression method. The volume of sales in a month is used to put more weight on months with a larger number of properties sold. Additionally, weighting decreases the impact of months with low sales volumes as well as the most recent month - which may consist of incomplete data. Such months have a higher variation of average sale values which may conceal the underlying trend.

From a statistical perspective, we use the least squares method to fit the trend line and weights are equal to the volume of sales squared. The volume of sales is not shown explicitly in the above plot. Also note the time lag for HM Land Registry data to appear (typically 2 to 3 months).

Property Market Heat Gauge for Spitalfields - April 2024

Our Property Market Heat Gauge looks at how long properties in your postcode district have been on the open market before being changed to sold 'Subject to Contract' ('STC') or 'Under Offer' on Rightmove (the UK's leading property portal).

At 61 to 80 days, the broad evidence suggests a slow moving market. This can often be due to estate agency over-valuations out of sync with the realities, a market slowdown or a combination of both. In such scenarios, some vendors may either choose to wait for the market to pick up (which may result in some relisting the property at a later date). Others simply reduce the price to a level that will entice more buyer interest or approach a sell house fast or auction company like Property Solvers.

Please note that this is not an indicator of how quickly property sales are taking to complete (i.e. to go through the whole conveyancing process). This measurement also does not take into account the risk of home sales falling through.

No. of New Instructions Over the Last 12 Months in Spitalfields

Using local estate agency reported data, this chart illustrates the number of properties that have come on to the market.

No. of Agreed Home Sales Over the Last 12 Months in Spitalfields

Using local estate agency reported data, this chart illustrates the number of property sales agreed. Note that these figures are not fully reflective of properties completed (sold and registered as such at HM Land Registry).

No. of Properties with Price Reductions in Spitalfields

Using local estate agency reported data, this chart illustrates the number of properties which have been seen their prices dropped (typically due to a lack of buyer interest).

Average Annual House Prices in the Spitalfields since 1995

Using HM Land Registry data, this chart displays average annual house prices in the Spitalfields area since 1995.

Recent Property Sales in Spitalfields

AddressInitial PriceSold PricePrice ChangeFirst Listed DateSold DateDays to Sell
Flat 7, Philip House, Heneage Street, London, Greater London, E1 5LW£490,000£445,000-£45,00024 Mar 202330 Jan 2024312 Days
Flat 1, Brune House, Bell Lane, London, Greater London, E1 7NW£500,000£500,000£0018 May 202306 Oct 2023141 Days
30 Elder Street, London, Greater London, E1 6BT£2,750,000£2,625,000-£125,00028 Apr 202308 Sep 2023133 Days
Flat B, 26, Princelet Street, London, Greater London, E1 6QH£2,450,000£2,300,000-£150,00029 Dec 202211 Aug 2023225 Days
Flat 20, Hanbury House, Hanbury Street, London, Greater London, E1 5JD£575,000£560,000-£15,00028 Mar 202217 Jun 2023446 Days
Flat 2, Phillip House, Heneage Street, London, Greater London, E1 5LW£450,000£450,000£0028 Sep 202216 Jun 2023261 Days
Flat 54, Brune House, Bell Lane, London, Greater London, E1 7NP£485,000£455,000-£30,00001 Feb 202325 May 2023113 Days
Flat 15, Phillip House, Heneage Street, London, Greater London, E1 5LW£525,000£515,000-£10,00012 Oct 202229 Mar 2023168 Days
Flat 8, Ramar House, Hanbury Street, London, Greater London, E1 5JH£330,000£330,000£0013 Jan 202321 Mar 202367 Days
4 Hopetown Street, London, Greater London, E1 5LE£350,000£350,000£0024 Aug 202216 Mar 2023204 Days
Flat 21, Herbert House, Old Castle Street, London, Greater London, E1 7TW£425,000£420,000-£5,00031 Jan 202217 Nov 2022290 Days
Flat 17, Casson House, Hanbury Street, London, Greater London, E1 5JJ£500,000£500,000£0021 Apr 202217 Oct 2022179 Days
Flat 30, Brune House, Bell Lane, London, Greater London, E1 7NW£450,000£433,000-£17,00024 Dec 202130 Sep 2022280 Days
Flat 1, Bloomfield House, Old Montague Street, London, Greater London, E1 5PA£525,000£497,500-£27,50021 Mar 202216 Sep 2022179 Days
196 Woodseer Street, London, Greater London, E1 5HQ£689,995£675,000-£14,99515 Dec 202106 Sep 2022265 Days
17 Casson Street, London, Greater London, E1 5LA£1,500,000£1,500,000£0017 Mar 202231 Aug 2022167 Days
Flat 29, John Pritchard House, Buxton Street, London, Greater London, E1 5AS£475,000£475,000£0029 Apr 202219 Aug 2022112 Days
Flat 42, Chicksand House, Chicksand Street, London, Greater London, E1 5LH£500,000£500,000£0011 Apr 202229 Jul 2022109 Days
Flat 25, Carter House, Brune Street, London, Greater London, E1 7NN£550,000£420,000-£130,00015 Feb 201922 Jul 20221253 Days
3 Princelet Street, London, Greater London, E1 6QH£2,850,000£2,705,000-£145,00025 Feb 202219 May 202283 Days

Most Expensive Streets in Spitalfields

PostcodeStreetAreaAverageNo. of Sales
E1 6QEFournier StreetLondon£3,900,0004
E1 6QHPrincelet StreetLondon£1,934,7966
E1 6QJPrincelet StreetLondon£1,366,6663
E1 6NPWheler StreetLondon£1,100,0003
E1 6NQCommercial StreetLondon£1,011,6666
E1 5LPPrincelet StreetLondon£967,93210
E1 5LACasson StreetLondon£889,5254
E1 6NGCommercial StreetLondon£872,1005
E1 7HWSandys RowLondon£803,1254
E1 5AGDeal StreetLondon£780,2509

Least Expensive Streets in Spitalfields

PostcodeStreetAreaAverageNo. of Sales
E1 7NYOld Castle StreetLondon£360,5004
E1 5NWEvelyn HouseGreatorex Street, London£385,8005
E1 7TSGoulston StreetLondon£388,2067
E1 5AHDeal StreetLondon£390,5003
E1 6EBCommercial StreetLondon£409,1666
E1 5JRKingward HouseHanbury Street, London£409,1685
E1 6BDCommercial StreetLondon£440,7083
E1 5BDDurward StreetLondon£446,2504
E1 5ENGreatorex StreetLondon£466,6666
E1 5AWUnderwood RoadLondon£471,2504

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