London, United Kingdom
Property prices · 2024 · Europe
Property price trend in London (2024–2026)
Property comparison — cities in United Kingdom (2024)
| City | Centre /sqm | Outside /sqm | 1-Bed Rent | vs London |
|---|---|---|---|---|
| London | GBP 12,500 | GBP 7,200 | GBP 2,200 | — |
| Edinburgh | GBP 5,200 | GBP 3,200 | GBP 1,400 | -58.4% |
| Bristol | GBP 4,800 | GBP 3,000 | GBP 1,350 | -61.6% |
| Manchester | GBP 4,500 | GBP 2,800 | GBP 1,300 | -64% |
| Birmingham | GBP 3,800 | GBP 2,400 | GBP 1,100 | -69.6% |
| Leeds | GBP 3,200 | GBP 2,000 | GBP 1,000 | -74.4% |
Other Europe cities (2024)
Frequently asked questions
How much does property cost in London in 2024?
In London, the average price per sqm in the city centre is GBP 12,500, and GBP 7,200 outside the centre (2024 data). Prices have risen 7% since 2024.
How much is rent in London in 2024?
A 1-bedroom apartment in London rents for approximately GBP 2,200 per month in 2024. A 3-bedroom apartment costs around GBP 3,500/month.
Is it better to buy or rent in London?
Renting is generally more cost-effective in London. The price-to-rent ratio is 25.0x — it would take approximately 25.0 years of rental payments to equal the property purchase price. Current mortgage rates are approximately 4.50%.
What are mortgage rates in United Kingdom in 2024?
The average mortgage rate in United Kingdom is approximately 4.50% as of 2024. With a price-to-rent ratio of 25.0x, buyers should carefully weigh mortgage costs against rental savings.
What is the price per sqm in London?
The average property price per square metre in London city centre is GBP 12,500 in 2024. Outside the centre, expect to pay around GBP 7,200/sqm.