Historic home of the UK’s financial industry, the City of London sits right in the heart of the capital. Sometimes called ‘The Square Mile’ or just ‘The City’, living here is an option for only a privileged few. Some of those lucky enough to call it home have added their views and insights on HomeViews in order to reveal the best places to live in the City of London.
City of London – the beating heart of the capital
The Square Mile is home to many of London’s biggest cultural, financial and political icons. From the Bank of England to St Paul’s Cathedral, some of London’s best-known buildings and institutions are here.
Today, what the area lacks in green spaces, it compensates for in architectural beauty. The beautiful and expensive stone of the Isle of Portland can be found in many historic buildings and monuments. The ‘modern cathedrals’ – eye-catching skyscrapers of glass and steel – are just as impressive.
So, if you’re a history or architecture buff, the City of London will be a paradise to live in. Wander anywhere around the Square Mile and you’ll find something astonishing to look at within moments. Of course, Christopher Wren’s 17th-century masterpiece, St Paul’s Cathedral, is easily the most eminent tourist attraction to be found in the City. But there’s also the Museum of London, and the Tower of London lies directly on the border of the Square Mile.
Naturally, there’s ample opportunity for leisurely breaks of cappuccino and cake in the area’s many stylish cafes and casual eateries. There are also some of the best restaurants in London here, from Michelin-star winners to cult-status dining sensations.
There really is something for everyone in the City of London. Provided that you have the financial means to maintain a central London lifestyle, this area offers everything you could ask for.
City of London property market outlook
The City of London is one of the most desirable locations in one of the world’s most expensive cities. Therefore, it’s definitely not cheap to move here! During the past 12 months, the average sales price for property here was just over £1 million.
The pandemic may have caused a record drop in house prices in central London last year, but this average is creeping back up again. By May 2021, the City of London reversed the losses of the pandemic. As such, property prices averaged 25% higher than the previous year.
One area that hasn’t recovered fully yet is renting. If you want to rent in the City of London, the area average is only £553 per week, which is actually 1.8% lower than the London average. While this is still a pricey figure for anyone on a London living wage, it’s a lot more manageable than what you would have expected during the area’s rental boom years.
10 best places to live in the City of London
Without further ado, enjoy our top rankings for new property developments in the City of London. Remember that this list comes solely from the verified ratings given to HomeViews by those currently living there.
Soaring high at number one is The Eagle, a Mount Anvil development. This high-rise building comprises both residential units and commercial space. There are 276 apartments here, 70 of which are Family Mosaic affordable housing units. The Eagle is close to Old Street Station and an easy walk from the vibrant London neighbourhoods of Shoreditch and Hoxton.
Next up, Mount Anvil and Clarion Housing Group have partnered to bring Lexicon – also known The Chronicle Tower – to the Islington borough. Its 115 metres and 36 storeys make it the area’s tallest tower. There are 146 units here – a collection of one, two and three-bedroom apartments, set on City Road by Regent’s Canal, and edged by Angel, Shoreditch, Clerkenwell and Farringdon.
Our bronze medallist this time is Barts Square, which is a large mixed-use redevelopment by Sheppard Robson for Helical, comprising 236 high-quality apartments, three office buildings and various retail and restaurant spaces. It offers a very convenient location that residents say is an easy walk from City of London’s best amenities while providing great cityscape views. It’s also very close to Farringdon East Station, which provides links to Canary Wharf, the West End and Heathrow Airport.
Central Square is developed by Mount Anvil and comprised of 274 studio and one to four-bedroom apartments. It is located in Clerkenwell, and is within easy walking distance to Old Street, Angel and Barbican stations. Residents love the stunning city views and well-kept gated gardens here.
Canaletto London is a development by Groveworld, featuring 190 one, two and three-bedroom apartments and studios in a 31-storey tower. Situated in City Road in Hoxton, the development is less than a ten-minute walk away from Old Street Underground and rail station, with connections to the Northern line and Great Northern rail services. Victoria Miro gallery is within walking distance to the property.
3.90 (5 reviews)
3.90 (5 reviews)
At number six, Charterhouse The Square is a mixed-use development by Thornsett, which comprises 174 residential units across two blocks. On site, there’s a range of one and two-bedroom apartments with a dedicated concierge service. The development is just a 3-minute walk away from Barbican Station and is located in the Farringdon area with its vast array of shops and restaurants close at hand.
In at number seven is The Heron, developed by the Heron Corporation and designed by David Walker Architects Ltd. It is located a 4-minute walk from Moorgate station which serves the Circle, Hammersmith & City, Metropolitan and Northern Lines. There are 284 one to six-bedroom apartments on offer here, alongside a few studios. The management team, facilities and location all rank highly across our resident reviewers’ scores.
A Taylor Wimpey scheme, the upcoming Denizen development features one, two and three-bedroom luxury apartments. The site is just minutes away from the City, Moorgate and Farringdon stations, and Barbican and Moorgate Underground stations are just a little further on. While it’s early days for this development, already residents are impressed with the overall quality of the design and build.
Blake Tower features a collection of 74 residential units in a mix of one, two and three-bedroom apartments in the Barbican. The development is only a 3-minute walk away from Barbican station and only a 10-minute walk from Farringdon station. Residents are a short walk away from the Barbican Centre too.
4.63 (4 reviews)
4.63 (4 reviews)
The last of our City of London top-rated entries, Landmark Place offers a selection of 165 one, two and three-bedroom apartments and penthouses. This exclusive riverside development sits in between two iconic river crossings, London Bridge and Tower Bridge. The development is equidistant to Monument and Tower Hill Underground stations, which are only a short walk away.
If you want to know more about the City of London, head over to our in-depth area guide. Here you’ll find details on the area’s new construction and development prospects, cultural attractions and more.
A fun fact about the City of London
Being a ‘freeman’ of the City of London is today a mostly symbolic role with charitable associations. However, it once gave those who held the title certain special rights and privileges. Many today focus on often-exaggerated bylaws, such as allowing freemen to move livestock over London Bridge or criminals being offered a velvet rope instead of the hangman’s noose!
What is true is that for these historic merchant traders, freedom from certain tolls, tariffs and taxes helped many grow their wealth. Many of the wealthiest families in London today have freemen of the City of London in their family tree.
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