A typical home in Pimlico sells for about £650,000, and calling it a "house" is mostly a courtesy. Nearly everything that sells is a flat. A whole stucco terrace runs to seven figures. Prices are down by more than a fifth on a year ago. It's cheaper than it was, and it's still central London.
The Land Registry recorded 136 sales in Pimlico in the year to May 2026, at a median of £650,000. Flats made up 123 of them, at a median of about £643,000. The other 12 were terraced houses, at a median of about £1,935,000. With flats accounting for almost every sale, the lease length and the service charge on a converted stucco house deserve as much scrutiny as the price itself. Owning one of Cubitt's terraces outright, from the front step to the chimney pots, is a seven-figure purchase a dozen buyers made all year.
The published house price index for the area fell 23% in the twelve months to May 2026, leaving its average at about £836,000, and the flat-only index fell by the same 23%. Over five years the index is down about 18%. A seller who bought five years ago is now the person in Pimlico least keen for anyone to look the index up.
Band E is the most common council tax band here, and only 8% of homes fall in bands A or B. Westminster's Band D bill comes to about £1,050 a year, small change next to a £650,000 flat.
Across Westminster as a whole, the typical private rent was about £3,150 a month in April 2026, down about 4% on the year. That's a mean from the Office for National Statistics' rent index for the whole borough. By size, the borough averages about £2,510 for a one-bed, £3,250 for a two-bed, £3,830 for a three-bed and £5,360 for four bedrooms or more.
The Office for National Statistics models average household income across Pimlico at about £73,450 a year, gross and before tax, for the financial year to March 2023. Set that against a £650,000 flat and the mortgage calculator has given its answer before anyone types in a second salary.
Price per square metre comes from the sales that could be matched to an energy certificate's floor area, which was 26 sales, about 19% of the year's total. Across those, the median was about £11,390 per square metre, for a typical floor area of about 122 square metres. That's roomy for a district of flats, so the measurable sales probably lean towards the bigger homes.
The 2021 Census gives the bedroom mix: 40% of homes have one bedroom, 37% have two, 18% have three and 6% have four or more. A family that needs four bedrooms is shopping in the smallest aisle of the shop, and paying seven figures to get into it.
Buying in Pimlico is expensive, and it stays out of reach of local incomes even after a year in which prices fell by nearly a quarter. A softer market doesn't make it affordable.