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Living In Whitechapel: Local Guide And Property Market

August 5, 2021

The origins of Whitechapel date back to the 13th century, when the church of St Mary Matfelon was founded and was soon dubbed ‘alba capella’ - meaning ‘white chapel’.

In the 15th century, industrialisation ushered in a new era of engineering, brewing and clothing industries which remained prevalent in the district for several hundred years. However, by the late 19th century, the area began sinking into poverty as these industries moved elsewhere.

A summary of Whitechapel’s history would not be complete without mentioning one of history’s most notorious London figures, Jack the Ripper. The area’s poverty at that time gave rise to much crime, including those famously unsolved murders committed in 1888.

Whitechapel today

Today, Whitechapel is a popular London district with big plans and a regeneration project underway that is set to be completed by 2025.Whitechapel vision (a Tower Hamlets project) is creating 3,500 new homes in the district, bringing it into line with the standards of luxury apartments found in nearby Aldgate and The City itself. The Masterplan has outlined highlights to include:

  • New public spaces for relaxation and social enjoyment
  • Street market enhancement
  • Development of community facilities and a cultural centre
  • Creation of new industry hubs for media, technology, medical research and culture
  • 5,000 new local jobs as a result of the new developments

Many of the historic buildings in Whitechapel continue to form part of its rich urban character, including the synagogues and heritage churches, as well as the historic shopfronts and the Whitechapel Road hospital. These have more recently been joined by landmark buildings such as the Royal London hospital, Idea Store and the East London Mosque.

Whitechapel has been and continues to be a historic centre of community and philanthropic organisations that serve an ever-changing community. The market and main high street are thriving established commercial centres which are enjoyed by both visitors and locals alike.

With a population of almost 15,000 and a median age of 29, the majority of Whitechapel residents are renters. Proximity to the City of London is a big draw card for renters.

Living in Whitechapel

With a fine art gallery, a historical street market and all of the restaurants, markets and galleries dotted along London’s beloved Brick Lane, there is plenty to do in Whitechapel!

Whitechapel is an area that maintains its community roots while offering a diversity of cultures - it has a lot to offer. From an array of markets to worldwide cuisines, living in Whitechapel affords its residents the quintessential vibe of East End living with a smattering of international influence.

2 Bedrooms, 1 Bathroom

Mile End Road, Stepney, E1

Stepney Green (0.3M)

Whitechapel (0.3M)

£380,000 (Share of Freehold)

View property details

Whitechapel property market

Like most London districts, the Whitechapel property market has weathered the pandemic conditions favourably overall, and is showing clear signs of a solid recovery.Properties in Whitechapel sold for an overall average price of £767,673 during the month of June 2021, a figure 2.53% higher than three months ago in March 2021. It also represents a significant rise of 14.01% year-on-year. This reflects not only a considerable resilience following the dire conditions of a Covid-ravaged 2020, but also that a longer-term growth is still in action - the average Whitechapel sold prices have increased by almost 27% over the past eight years.

In terms of property types, terraced houses sold for an average of £830,753 and flats for an average price of £608,980. Whitechapel boasts a large number of handsome Georgian townhouses and neo-Georgian properties, as well as Terrace properties.

1 Bedroom, 1 Bathroom

Brady Street, Bethnal Green, E1

£300 per week (£1,304 pcm)  tenancy info

Whitechapel (0.2M)

View property details.

Read More: Summer London Property Market Update

Read More: How Does Help To Buy Work?

Crossrail property price premiums

When Whitechapel Station opens up to Crossrail, journey times to Heathrow airport will be reduced to just 39 minutes, and getting from Whitechapel to Liverpool Street or Canary Wharf will be as quick as 3 minutes. This will create an important interchange between east and south east route sections, and will inevitably support the surrounding area’s economic growth.A delay of four years has done little to dampen the strength of property prices surrounding relevant stations, of which Whitechapel is one. Areas with imminent Crossrail stations have been largely outperforming the wider areas they are located in since the initial plan was approved back in 2008.

Research shows that, on average, properties with postcodes home to Crossrail stations have been enjoying a 17% premium in values above their wider areas. Average property prices in Crossrail station postcodes are currently £572,686, with wider districts sitting at average values of £490,429.

Tottenham Court Road has seen the largest Crossrail-related boost, with property values currently averaging just under £2 million in the W1 postcode, 140% greater than the wider Camden borough, which sits at £822,936.

Whitechapel - at 26% over its wider borough area - while not quite so dramatically evident, has also been identified as being home to some of the greatest Crossrail property value premiums.

Despite the extensive and ongoing delays to the project, Crossrail continues to be arguably the most eagerly anticipated of London developments in recent times. It will transform the way Londoners traverse our capital, and will significantly shorten travel times for commuters and locals alike.

Portico’s East London Director, Ed Lugg, says, “Despite its delayed arrival, it’s no great surprise that many areas set to benefit are continuing to witness considerable growth in property values, with homes close to Crossrail stations commanding impressive premiums in comparison to their wider boroughs.Following the market uncertainties related to Covid, the capital is regaining momentum, and with many Londoners returning to work as lockdowns ease, we expect that property prices along Crossrail routes, such as Whitechapel, will continue to rise as the launch day approaches.”

What about renting in Whitechapel?

Whitechapel boasts such a prime location when it comes to City proximity, and with the imminent launch of the Crossrail links, it is a favourite among commuting renters.

Currently, average Whitechapel rental prices are around £492 per week,.

What is particularly noteworthy is that, despite the increase in property prices as a result of Crossrail, rental rates in the Whitechapel area are currently 20.2% below that of the general London average of £556 per week. Despite its regeneration and Crossrail developments, there are still plenty of great rental deals to be found in Whitechapel.

Looking to rent, buy, sell or invest in Whitechapel?

You only need take a quick stroll down Brick Lane to realise that living in Whitechapel offers a unique combination of East End charm and diverse touches that make it a special place to live in London. It’s already a fantastic location for commuters and those wanting close proximity to the City or the financial and business centre of Canary Wharf, but with Crossrail coming, the ease and speed of these connections will be even more valuable.

For investors, it's not too late to ride the Crossrail premium rise and get in on the action. For renters, there are still bargains to be had, and Whitechapel offers up a relatively affordable prime London location with plenty of charm to boot.

Speak with our local Sales and Lettings Managers about renting, buying, selling or investing in Whitechapel by calling 020 8539 3650. You can also find out how much your Whitechapel (or London based) property is worth in a few clicks with our online property valuation tool.

View our complete list of properties to rent in Whitechapel and/or properties for sale in Whitechapel or its surrounding areas.

We already know how much your rental property is worth. Type your postcode to find out and get an online valuation within 60 seconds.

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