Area Guide For Millbank

Millbank is an area of Central London in the City of Westminster. Millbank Estate behind the Tate Britain gallery was popular with “right to buy” tenants, with the result that the majority of the flats are now owner-occupied. Millbank's general appearance dates from the 1930s, when the area was extensively rebuilt to repair damage caused by the 1928 Thames flood disaster, following the collapse of a 25-metre-long section of the Thames Embankment.


Millbank Map

Estimated Price: £1,099,593
Average Asking Price: £1,485,777
Price change in last one year: £134,738
Average Price Paid: £822,228
Average Rent Rates: £2,957


Property Prices Breakdown in Millbank

Average Price for property in Millbank is around £1,099,593 which varies based on type of property you are interested in and ranges from £4,651,589 for detached house to around £2,240,134 for semi-detached. Similarly terraced house is around £2,474,766 and a flat is worth £974,672. Values have been changing and have risen £5,913 in last 3 months alone. Similar historical trend can be observed in price changes e.g. prices changed £11,745 in last 6 months, £134,738 in last 1 year, £222,602 in last 2 years, £308,245 in last 3 years, £347,254 in last 4 years and £346,653 in last 5 years.

Currently average asking price of a property in Millbank is around £1,485,777 based on approximately 460 properties for sale. Same is the case with rental options based on 683 properties up for rent, average asking rent is around £2,957 per month.

Estimated property value in Millbank is £1,099,593. Average asking price is £1,485,777 while average price paid is £1,146,719 which is up by £134,738 and Avg. asking rent £2,957.Based on an Online Survey

Buyers are willing to pay high dollar prices to grab these properties because of the recent trend in real estate investment especially in Millbank area. In last 1 year alone average price buyer paid is around £1,146,719 based on approximately 460 sales in Millbank area alone. If you compare it to last 3 years sales of 1,447 properties where buyers paid around £913,007. It has been same for some time now for e.g. if you take an average of amount paid in last 5 years, it comes to around £822,228 for 2,463 and average amount paid for purchase of approx. 3,242 properties sold in last 7 years comes to about £767,880 per sale.


Properties For Sale in Millbank


Breakdown of asking prices for homes of different sizes show that price varies clearly based on no of bedrooms and type of house. Asking price for a house with 1 bedroom is around £694,500, £1,400,000 for a 2 bedroom house, £1,845,825 for a 3 bedroom house, £2,713,636 for a 4 bedroom house and £2,872,500 for a 5 bedroom house. For a flat similarly the prices varies from £865,952 for a single bedroom to £1,318,419 for a 2 bedroom Flat. Same is the case with 3 bedroom flat £2,005,932, £1,905,714 for a 4 bedroom flat and £6,950,000 for a 5 bedroom flat. To sum up the asking prices for properties in Millbank it comes to around average £862,686 for 1 bedroom property, £1,320,361 for 2 bedroom, £1,997,119 for 3 bedroom, £2,399,444 for 4 bedroom and £3,891,875 for a 5 bedroom property.

Rent per calendar month varies similarly based on type and size of the house. If you look at the rents per month for houses alone it can vary from £2,266 for 1 bedroom to £2,948 for 2 bedroom, £5,138 for 3 bedroom and £4,973 for 4 bedroom. But if you are interested in renting a 1 bedroom flat then rent per month can be around £1,978. As the no. of bedroom increase so will the rent e.g. for a 2 bedroom flat it will be around £2,918, £5,852 for 3 bedroom and £4,819 for 4 bedroom. You should be generally be expecting around average £1,987 rent per month for single bedroom property, £2,921 for 2 bedroom, £5,718 for 3 bedroom and approximately £4,873 for 4 bedroom property in Millbank area.

Popular Houses in Millbank

Disclaimer : Location real estate estimates and values are based on House price index background data and Sales data provided by United Kingdom Land registry Records available as public records from their website. This information is updated monthly on our website and may not reflect all public transactions. This information is based on estimated calculation generated from our developed algorithms. We are striving to make this information as accurate and useful as possible. This data covers the transactions received at Land Registry in the period 1/1/1995 to 9/1/2014. © Crown copyright 2014. Data produced by Land Registry © Crown copyright 2014.

Sold Properties in Millbank

Transportation in Millbank

Browse by Streets in Millbank

Browse by Outcodes in Millbank