Downsizing in Fitzrovia: What You Would Actually Release
Selling at the £1,300,000 Fitzrovia average and buying at £910,000 releases about £332,300 after costs. Fees, stamp duty and moving take roughly £57,700 of it.
The introduction costs you nothing. If you go ahead, we may be paid a fee by the firm we introduce you to. There is no obligation.
Selling at the £1,300,000 Fitzrovia average and buying at £910,000 releases about £332,300 after costs. Fees, stamp duty and moving take roughly £57,700 of it.
The downsizing sum for Fitzrovia
Start with the gap. Selling at £1,300,000 and buying at 70% of that, £910,000, leaves £390,000 before costs. Costs are the part people underestimate.
Agent fees at 1.5% are £19,500. Stamp duty on the purchase is £35,500. Total £57,700, leaving £332,300 in hand.
Where the sale proceeds go
The commercial page for this town sets out the introduction itself: Equity release in Fitzrovia.
Moving or borrowing, compared honestly
A lifetime mortgage at 65 on the same property would release about £442,000. Downsizing nets £332,300. The difference is that downsizing costs you the house, and equity release costs you the estate.
Over twenty years that £442,000 release grows to roughly £1,557,451. The downsizing figure does not grow at all, because there is no debt.
Bands, stock and timing
Council tax follows the property, not the person. Band D in Fitzrovia is £1,048, and a smaller home may sit in a lower band. Check the band before you offer, not after.
Downsizing works best when you are not in a hurry.
Moving within London rather than out of it keeps you near family and known services. The average price across the county towns we cover is £732,469, against £1,300,000 here.
What a move within Fitzrovia looks like
The schools families ask about here are All Souls CofE Primary School, Christ Church Bentinck CofE Primary School, The St Marylebone CofE School, Westminster City School and The Grey Coat Hospital. 2 local schools were rated Good or Outstanding overall at their most recent graded Ofsted inspection. Ratings age between inspections, so read the latest report before you rely on one.
On getting about: Fitzrovia to Goodge Street (walk) takes about 2 to 7 min.
By price, Fitzrovia ranks 14 of the 320 London locations we cover, at £1,300,000 against a county average of £732,469. Band D council tax here is £1,048, against an average of £2,121 across the towns we cover in the county.
Is Fitzrovia right to stay in?
Fitzrovia is a quiet, handsome, medical and media district of Georgian terraces, mansion blocks and new-build, the calmest of the central West End districts.
The full local guide covers schools, transport and the market in detail: Fitzrovia property and area guide.
- The calmest of the central West End districts
- Eight Underground lines plus the Elizabeth line within minutes
- University College Hospital and its A&E on the doorstep
- The lowest Band D council tax in England, on the Westminster side
- Fitzroy Square, the Fitzrovia Chapel and outstanding architecture
- Still central London, boundary roads are busy and development is constant
- Driving is impractical, Congestion Charge, ULEZ and CPZ
- Central London GP and dental lists are pressured
- The Camden side is billed differently, check the exact address
- Conservation and listed-building rules limit works and glazing
| Who it suits | Out of five | Why |
|---|---|---|
| Professionals | ★★★★★ | Superb for anyone working at University College Hospital, UCL, on the Harley Street medical fringe, or in the advertising, media and design businesses along Charlotte Street, many residents genuinely walk to work, and the Elizabeth line at Tottenham Court Road handles everything else. |
| Pied-a-terre buyers | ★★★★☆ | A calmer, more discreet central base than Soho or Covent Garden, with excellent transport and (on the Westminster side) the lowest council tax in England, marked down for Westminster's 100% second-home premium and the additional-property SDLT surcharge. |
| Property developers & investors | ★★★★☆ | Consistent professional and corporate rental demand from the hospital, university and media sectors, and a steady supply of high-quality new-build around Fitzroy Place, marked down for commercial-premises lending restrictions on older stock and active short-let enforcement. |
| First-time buyers | ★★☆☆☆ | Among the highest prices per square foot in the country, a stock of small flats often above commercial units, and a narrow lender list on much of it, achievable with a substantial deposit and good advice, but a demanding first purchase. |
| Families | ★★☆☆☆ | Better than Soho, but still weak. All Souls CofE Primary is the one state primary in the district and there is no secondary; family-sized homes are scarce and expensive; green space is limited to Fitzroy Square, Crabtree Fields and Regent's Park a walk north; and the borough boundary splits school admissions between Westminster and Camden. |
Fitzrovia is known locally for The BT Tower, and The Fitzrovia Chapel. The Grade II listed tower on Cleveland Street, opened in 1965 as the Post Office Tower and for years the tallest building in Britain, the landmark by which Fitzrovia is recognised across London.
Practical detail for Fitzrovia: the W1T and W1W postcode district and nearest A and E is University College Hospital, Euston Road, on the district's northern edge; verify with NHS.
Fitzrovia has history behind the price. In 1745, The Middlesex Hospital is founded, later rebuilt on Mortimer Street, the beginning of the medical character that still defines the district.
Fitzrovia at a glance
| Downsizing line | Fitzrovia figure |
|---|---|
| Sale price, local average | £1,300,000 |
| Purchase at 70% of value | £910,000 |
| Estate agent at 1.5% | £19,500 |
| Stamp duty on purchase | £35,500 |
| Legal and moving | £2,700 |
| Total costs | £57,700 |
| Net released | £332,300 |
| Lifetime mortgage alternative at 65 | £442,000 |
Figures are local averages used for illustration. Confirm your own numbers before acting on them.
Ask about Fitzrovia
Three details is all we need. You are told before anything is passed to a partner firm.
Your checklist
- A real valuation of your home, not the £1,300,000 average
- The council tax band of the property you are buying
- Total moving costs of about £57,700
- The equity release comparison, in writing, before you decide
The introduction costs you nothing. If you go ahead, we may be paid a fee by the firm we introduce you to. There is no obligation.
Check broadband before you make an offer in Fitzrovia
Broadband speeds can vary street by street in Fitzrovia, so check the exact address before you commit. Ofcom's free checker shows which broadband speeds and mobile coverage are available at any UK property.
We can introduce you to a specialist who can combine your mobile, broadband and utilities into one bill. There's no fee for the introduction.
We don't provide these services ourselves. Switching household bills is not a regulated financial service, so FCA protections and the Financial Ombudsman do not apply. We'll only pass your details to the specialist if you ask us to. See our privacy notice.
Questions people ask
How much would I release by downsizing in Fitzrovia?
Is downsizing better than equity release?
What are the costs of moving?
How do I check broadband speed at a property in Fitzrovia?
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