June 2025 has marked a steady transition into the summer market for Pimlico and Westminster, with local activity remaining encouragingly robust against a backdrop of wider economic caution. Both the sales and lettings markets continue to show healthy levels of demand, although buyers and tenants alike remain price-sensitive and highly selective. If you’re a homeowner or landlord in SW1, read on for this month’s insights and find out why listing now could help you make the most of Westminster’s resilient mid-year momentum with Tuckerman Residential.
Sales
The sales market across Pimlico and Westminster has maintained its measured pace into June, building on a positive spring. While the frantic urgency of the Q1 stamp duty rush is behind us, genuine buyer interest has not waned although the market is now clearly favouring realistically priced, well-presented homes.
Prices:
Average sale prices have held firm since spring, underpinned by consistent local demand. In the City of Westminster, average house prices remain around 15–18% below April 2024 levels, yet month-on-month figures are broadly stable and some micro-pockets have edged up slightly. In Pimlico, period flats and garden apartments that are well maintained continue to attract competitive bidding. The message for sellers is unchanged: buyers are prepared to offer decisively for the right property, but over-ambitious pricing will still meet resistance in this value-conscious climate.
Transaction Activity:
Transaction volumes in June have reflected the seasonally steady trend typical for early summer. Compared to May, we’ve seen a slight uplift in new buyer registrations, with motivated buyers hoping to exchange before the traditional August holiday lull. Nationally, agreed sales remain ahead of 2024 levels by around 5–7%, and this is mirrored locally: our team continues to handle multiple new offers on well-positioned listings.
Speed of Sales:
Homes priced correctly and presented to a good standard are still moving swiftly with many sales agreed within three weeks of coming to market. Some ‘best and final’ scenarios are emerging for desirable flats in Pimlico and classic period conversions in Westminster, while anything that needs significant work or is priced optimistically can linger on the market well into summer.
Buyer & Seller Sentiment:
Buyer sentiment remains cautiously positive. Domestic movers, first-time buyers, and pied-à-terre seekers all remain active in Zone 1, drawn by the relative value Pimlico offers compared to neighbouring super-prime postcodes. There is also an uptick in interest from international buyers returning to London with a longer-term view. Sellers, meanwhile, are increasingly pragmatic: most appreciate that the post-pandemic market highs have recalibrated, and that realistic pricing is the best way to secure committed offers before August’s slower weeks.
Noteworthy Trends:
The ongoing speculation about a potential base rate cut later in the summer continues to be a key talking point, with some buyers considering acting sooner rather than later to lock in mortgage deals. Turn-key properties remain the best performers, anything needing major work is struggling to find buyers unless priced to reflect renovation costs. With economic headlines still mixed, the fact that Pimlico and Westminster are holding steady is a testament to the enduring appeal of this prime central patch.
If you’re a local owner weighing up your options, now is an opportune time to launch before the summer slowdown. Tuckerman Residential is advising many clients who wish to capture current buyer confidence and secure a sale with minimal fuss. Get in touch for an up-to-date valuation and practical guidance on achieving the best result.
Lettings
The lettings market across Pimlico and Westminster remained extremely busy throughout June, with tenant demand staying high and rental values continuing to edge upwards.
Achieved Rents:
Average rents in SW1 are now firmly above last summer’s levels. Westminster’s average monthly rent remains around £3,350 pcm, up over 10% year-on-year. Well-located one-bedroom flats in Pimlico that were letting for £2,200 pcm in spring are now often achieving closer to £2,400 pcm, while larger family homes can command well over £1,250 per week if modernised and well-presented. Yields for landlords remain strong, with improved returns helping to offset any lingering cost pressures.
Demand & Time on Market:
Demand remains intense as summer brings in new waves of relocation tenants, graduates, and young professionals. Many well-positioned flats are let within a week of marketing, often within just a few days and multiple-bid scenarios are still the norm. Compared to June 2024, stock levels are tighter, pushing tenants to act quickly to avoid missing out. As a result, void periods are increasingly rare for landlords who keep their properties well maintained and marketed accurately.
Tenant Profile & Behaviour:
The diversity of tenants remains a hallmark of the local market. Corporate relocation demand is strong, particularly for family houses and two-bedroom flats with good access to transport and amenities. Young professionals and couples continue to dominate the one- and two-bedroom market, while some long-term renters are also beginning to weigh up first-time buying opportunities as talk of more accessible mortgages grows louder. For the majority, however, renting remains the most viable option in the short term — and competition shows no sign of easing.
Landlord Sentiment & Supply:
Landlord sentiment is positive, with many enjoying record-high rents and shorter marketing times. While some landlords are mindful of potential changes under the Renters’ Reform Bill, most are taking a pragmatic view and remain focused on maximising returns while ensuring compliance with new rules when they arrive. Supply remains tight, with no surge in new rental listings — a key factor supporting rent levels. Savvy landlords are investing in minor upgrades to attract the best tenants and achieve premium rents.
Noteworthy Trends:
Bidding wars for well-located flats and family homes continue to drive asking rents upwards, and longer leases (12–24 months) are increasingly common as tenants look to secure certainty in a competitive market. Renewal rates remain high, with many tenants opting to stay put to avoid competing for scarce new listings. Pimlico’s relative affordability compared to neighbouring Mayfair or Knightsbridge is also fuelling interest, drawing tenants keen for a central location with better value for money.
For landlords, the picture remains bright: with tenant demand outstripping supply and voids rare, now is an excellent time to let your property or grow your portfolio. Tuckerman Residential’s dedicated lettings team is helping landlords achieve record rents and manage compliance with upcoming regulation changes — so you can enjoy strong returns with peace of mind.
In Summary
Pimlico and Westminster continue to demonstrate their resilience and enduring appeal as we head into the summer market. Buyer and tenant demand remains strong, while realistic pricing and smart presentation are key to securing quick, successful transactions in both sectors.
If you’re considering selling or letting your property this summer, Tuckerman Residential is here to guide you every step of the way. Get in touch with our friendly local team for a no-obligation valuation and expert advice on making the most of this active market.
