Homes in Fitzrovia typically sell for about £751,000, and every one of them is a flat. Nobody bought a house here in the last year. The number of sales was small. Prices have also come down hard in the past year. You are paying a large sum for a flat in very old surroundings, at a slightly lower price than a year ago.
The Land Registry recorded 42 sales in the year to May 2026, at a median of £751,000. All 42 were flats, so the flat median and the overall median are the same £751,000. There is no house price to report because no houses were sold. Forty-two sales is also a small number for a district this central, so one penthouse or one bedsit can shift the median by more than you would expect.
The official house price index for the area fell 23% in the twelve months to May 2026, and flats on their own fell 23% as well. That is a big drop by any standard, and it is the published figure, not a reading of where prices go next. If you are buying, find out when the seller bought and what they paid. A flat bought near last year's level and listed at that price is asking you to cover the seller's loss.
Council tax runs high, as you would expect in central London. The most common band is E, and only about 6% of homes are in bands A or B. Westminster's band D bill is about £1,050 a year. That is low for a London borough, and it is the one cost here that looks cheap next to the purchase price.
Renting does not get you out of paying. Typical private rent across Westminster was about £3,150 a month in April 2026. That figure is the Office for National Statistics' borough-wide mean, not a median of local listings. Broken down by size, a one-bed in Westminster averages about £2,500, a two-bed about £3,250, a three-bed about £3,830 and a home with four or more bedrooms about £5,360. There is no published figure for studios or rooms, so whatever the small ads say, there is nothing official to check it against.
Local incomes are high, but not that high. Median gross household income, before tax, was about £77,600 in the financial year to March 2023. That is an Office for National Statistics estimate averaged across the area, so it is a few years out of date and before deductions. A household on that income can rent here with some pain. Buying at £751,000 takes either a second high income or money saved or given years earlier.
The homes are small. At the 2021 census, about 45% of households had one bedroom and 35% had two. Only about 15% had three bedrooms and 6% had four or more. When you search for somewhere to buy, you are mostly choosing between one-beds and two-beds. A third bedroom is one of the hardest things to find in this part of London.
Fitzrovia is expensive to buy into and expensive to rent in, and the recent fall in prices only makes it slightly less expensive. On cost, this is one of the hardest places in the area to make the numbers work.