The Chelsea area houses 24,952 households and holds a population of 48,658.

We’ve compiled this information to offer you a comprehensive overview of the current property landscape in Chelsea. This includes details on properties sold recently, property sizes, and pricing based on type of property and number of flats vs houses, giving you a broad understanding of the real estate market in the area.

On this page you will find:

2019 – 2023

From 2019 to 2023, Chelsea experienced a dynamic real estate landscape with a total of 2,479 property sales. Breaking down these transactions by bedroom categories reveals interesting trends. The majority of sales were in the 3-4 bedroom range, accounting for 55% of the total with 1,363 properties changing hands. Following closely behind, 1-2 bedroom properties constituted 22% of the sales, totaling 549 units. Meanwhile, 5+ bedroom residences made up the remaining 885 sales, contributing to the diversity of Chelsea’s property market. This not only underscores the resilience of Chelsea’s real estate market but also paints a vivid picture of the diverse preferences shaping the borough’s housing dynamics over this half-decade journey.

2019 – 2023

Despite minor fluctuations, the average sold prices remained within the bracket of £2 million throughout these years. This stability shows a consistent demand for properties in Chelsea. Even during years where there were slight decreases (e.g. 2019 and 2023), the market seemed to rebound or stabilise in the subsequent years (2020 and expected to rebound in 2024). This showcases the resilience of the Chelsea property market. With a mature and established housing market in Chelsea, such stability proves attractive to both buyers and sellers, fostering confidence in property investments.

There’s a noticeable increase in the number of properties sold each year, with a significant jump from 2019 to 2022, suggesting a growing market and increased activity in the housing sector.

The average selling price exhibits annual fluctuations, yet an overarching upward trend is discernible. Between 2019 and 2022, a consistent rise in the average selling price suggests a market upturn, influenced not only by the conclusion of the Brexit negotiations but also bolstered by the stamp duty holiday in 2021 and the depreciation of the GBP in recent years.

The average square footage doesn’t vary drastically, hovering around 1300 sq/ft. This metric however shows an increasing trend over the years, from the average price per sq/ft from £1,493.57 in 2019 to £1,642.97 in 2022. This indicates a consistent rise in the value of properties per square foot over these years.

Overall, the data suggests a buoyant market in Chelsea, characterised by increasing property values, a growing number of properties sold and a consistent rise in the value per square foot. This signifies sustained demand and attractiveness of Chelsea’s real estate market.

The correlation between a property’s size and its value is a critical consideration for potential investors seeking insights into the Chelsea housing market. An examination of property sizes in relation to the number of rooms reveals compelling trends that could inform investment decisions.

Properties in Chelsea generally tend to be larger across all bedroom categories compared to areas like Fulham. The difference in size between different bedroom categories is more pronounced in Chelsea. The gap between the average square footage of 1-2 and 3-4 bedroom properties in Chelsea (800 sq/ft to 1,795 sq/ft) is more significant compared to Fulham (753 sq/ft to 1402 sq/ft).

In the last five years, 28% of transactions were freehold properties, which consistently exhibited a notably higher market value than leasehold properties. In Chelsea during this timeframe, freehold properties commanded an impressive average price per square foot of £1,967.02.

Constituting 72% of the market, leasehold properties emerge as the more prevalent and widely available option in Chelsea. Despite a lower average selling price compared to freehold properties, leasehold properties often feature fewer bedrooms, as a majority of them are flats. However, they still maintain an appealing aspect for buyers seeking larger accommodations or more spacious living arrangements. The average price per square foot for leasehold properties stands at £1,455.80.

28%

Freehold Average Price Paid:

£4,649,178.51

Amount of properties sold: 682

Average price per sq/ft: £1,967.02

72%

Leasehold Average Price Paid:

£1,482,472.44

Amount of properties sold: 1,797

Average price per sq/ft: £1,455.80

Flats constitute the largest number of properties with 1,711 units, suggesting their prevalence within the Chelsea real estate landscape. In contrast, detached houses represent the smallest segment with only 14 units, indicating their relative scarcity within the area.

The average prices associated with each property type highlight the premium nature of semi-detached houses in Chelsea, characterised by larger spaces and often unique features, compared to other property types like flats, which offer more compact living arrangements.

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