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Residential real estate in London - Statistics & Facts

Undeniably, London is one of the most important cities not only in Europe, but also globally. With its population of nearly ten million, the megacity is the second biggest financial center in the world after New York and has proved its attractiveness to investors, talent, commerce, arts, and culture.

Living in London has its price, and it is a high one. The average monthly rental costs could range from approximately 1.14 thousand British pounds for a dwelling in Croydon, to over two thousand British pounds for areas in the heart of the city – Westminster, Lambeth, Chelsea, Fulham, Hammersmith and Kensington. According to the Index of Private Housing Rental Prices (IPHRP), rents have risen by 7.7 percent since 2015. Should one opt for purchasing a home in London, the average monthly costs would be 1,378 British pounds. Potential buyers save 311 British pounds monthly from the cost difference of buying over renting, but should also be ready to set aside an average of 109.9 thousand British pounds for a deposit.

Not surprisingly, private renters constitute the largest share of households in London. This, however, might change, if the number of people who buy a dwelling with a mortgage keeps growing. Yet, properties available for rent heavily outweighed those available for sale as of the fourth quarter of 2019.

While housing in London seems expensive, this can be partially explained by high development costs, resulting from political uncertainty, climbing construction costs, and the weakening of the British pound. As of the third quarter of 2019, the Prime Central Residential Development Land Index (RDLI) reached 117.85 points, an increase of 17.85 percent since September 2011, but also a considerable drop since 2014 when the index peaked.

Interesting statistics

In the following 5 chapters, you will quickly find the 43 most important statistics relating to "Residential real estate in London".

Residential property market in London (UK)

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Important key figures

The most important key figures provide you with a compact summary of the topic of "Residential real estate in London" and take you straight to the corresponding statistics.

Rental costs

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Dwelling stock

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