Fitzrovia - The Next Marylebone?
In my opinion, Fitzrovia will become one of the most sought-after areas to purchase a house over the next 3 years in all of London…
Within the next decade, it will become one of the most recognised places of London for prime residential house and will become a part of ‘Prime London’.
Why do I believe this?
Look at next door Marylebone…
As of 2004, Marylebone’s now famous high street was incredibly run down and consisted of little more than many charity shops.
Marylebone High Street is now one of London’s more sought-after high streets and locations and with its renovation and regeneration, prices in Marylebone soared.
It is now a true quintessential English high street and this has made it all the more popular with London house buyers.
“Fitzrovia will become one of the most sought-after areas to purchase a house over the next 3 years.”
Let’s look at some of the regeneration and ‘goings on’ in Fitzrovia…
Fitzrovia has often been seen as the ‘inferior brother or sister’ to Marylebone…
This was much the same with St James’s vs Mayfair.
For the record, I think that St James’s, along with Belgravia, are literally the two most incredible places in London in which to live - nicer than Mayfair without question!
In terms of Fitzrovia:
There is of course investment in Crossrail, which will open up a number of opportunities and will raise prices in the area.
In terms of green space, there is Hyde Park and Regent's Park within walking distance, which is perfect for a sunny day.
UCL, and Westminster Universities are closeby.
A number of highly sought after schools are in the immediate area.
New luxurious flats in Fitzrovia are being built and developed, as well as new public spaces being made available.
Best in class retail facilities and office space is being made a priority.
Fitzrovia is close to Oxford Street and Regent Steet.
At the time of writing this article, over the course of the last month, the highest achieved price per sq ft in Marylebone was £3,485/ sq ft.
In contrast, the highest achieved price per sq ft achieved in Fitzrovia over the course of the past month was £2,800/ sq ft.
I am fascinated to see how long it will be until prices in Fitzrovia match or even exceed those in Marylebone.
Would you consider living in Fitzrovia?
If so, what road is your dream house on?