Soho homes go for about £680,000, and they are almost all flats. Houses barely come up for sale. Only four homes changed hands in a year. Prices on the local index fell by about a fifth. Expensive and quiet on the sales side, and the flat you get still comes with a nightclub queue outside.
The Land Registry recorded four sales in Soho in the year to May 2026, at a median of about £680,000. All four were flats, so the flat median and the overall median are the same figure. There was no house sale for the house figure to come from. Four sales in a year is a thin market to read a price from. One sale on Dean Street could move the median by more than an ordinary year of change would.
The house price index for the area tells a harsher story. As of May 2026 it put the average price at about £836,000, down about 23% over twelve months, and flats alone fell by about 23% as well. Over five years the index shows a fall of about 18%. That covers a wider area than four sales on a few Soho streets, but every Westminster flat buyer from a few years ago has had the same letter from their mortgage lender. Anyone waiting for Soho to get cheap has, for once, been rewarded for waiting.
Council tax is the one bill here that comes in under expectations. Band E is the most common band, and only about 1% of homes sit in bands A or B. Westminster charges about £1,050 a year at band D. That makes a Soho flat in a middling band one of the few things in the West End that costs less than it looks. Bands run street by street and floor by floor, so look up the flat's own band on the Valuation Office Agency's list rather than trusting the average.
Most people here rent, and Westminster's typical private rent was about £3,150 a month as of April 2026. That figure is a mean from the Office for National Statistics' rent index and covers the whole borough, not Soho's own flats. By size, a one-bedroom home averages about £2,505 a month across Westminster, two bedrooms about £3,250, three bedrooms about £3,830, and four or more about £5,360. Nobody publishes a studio or room figure for the borough, which is a shame in a district that seems to be made of them.
Against local incomes, buying is a long reach. The Office for National Statistics modelled gross household income, before tax, at about £75,000 for the financial year to March 2023. That figure is three years old and averaged over a wider area, but no reasonable reading of it puts a £680,000 flat within easy reach. The people who own here mostly bought with money made somewhere else, a long time ago.
The homes themselves are small. In the 2021 census, about 52% of Soho households had one bedroom, about 36% had two, about 10% had three and about 2% had four or more. A three-bedroom family flat is unusual enough here that anyone who finds one will hear about it from everyone they tell.
On price, Soho is a poor bet for most buyers: hardly anything sells, and what does sell costs more than any local income can carry. The recent fall has taken some of the sting out, but only for someone who already has that sort of money.