Number of housing units in London (UK) 2001-2021

The capital city of England, London has a population of approximately nine million residents and by 2041, the population of London is estimated to exceed 10 million individuals. To house them, the sprawling city has a stock of approximately 3.7 million dwellings. Annually, there are between 15,000 and 25,000 housing construction completions.

Average house prices

The average asking price for a home in London was almost 540,000 British pounds in June 2022-more than any other city in the UK. The average house price for a new dwelling in London region, stood at 451,000 British pounds, lower than the average for existing dwellings.

Average rental costs

Unsurprisingly, London also topped the ranking as the most expensive region for renters. The average cost of rent stood at 1,846 British pounds in 2022. Certain Boroughs in London will set back the average renter more than others. Westminster, Lambeth, and Hammersmith, Fulham, Kensington and Chelsea were the most expensive boroughs based on the average monthly rent.