London Real Estate Market Outlook 2025 and Beyond: Trends, Prices, and Investment Opportunities

London’s real estate market in 2025 stands at a pivotal moment, shaped by post-pandemic recovery, shifting economic winds, and policy changes. Both residential and commercial sectors are navigating a new landscape of higher interest rates (after 2022’s inflation surge) and a return of workers and international buyers to the city. This report provides a comprehensive overview of current trends, prices, and forecasts for London’s property market, with an outlook extending to 2030. We examine housing and commercial property trends, price trajectories, investment flows, supply-demand dynamics, the rental market, key sub-markets across London, and the major developments and policies influencing the market’s future.

Residential Real Estate Trends (2024–2025)

London’s housing market has shown resilience through 2024 into 2025, albeit with modest growth compared to other UK regions. Affordability challenges and higher mortgage costs (after interest rate hikes in 2022–2023) have tempered price increases in the capital. According to Nationwide data, London’s house prices in early 2025 were only about 1.9% higher year-on-year, the slowest regional growth in the UK theguardian.com. In fact, 2024 saw essentially zero house price growth in London, even as the UK average rose ~4.6% ft.com. This underperformance reflects how stretched pricing and higher borrowing costs hit London harder than cheaper regions.

• Interest rate impacts: The Bank of England’s rate hikes (peaking at 5% in 2023) led to a sharp slowdown in buyer demand in 2023. However, by mid-2025 the tide is turning. The Bank has begun cutting rates (down to 4.25% in May 2025) and markets anticipate further cuts, which is easing mortgage costs knightfrank.com knightfrank.com. Lower financing costs are expected to underpin housing demand in London going forward. Knight Frank notes that cheaper fixed-rate mortgages in 2025 should support a spring pickup in buying activity knightfrank.com knightfrank.com.
• Post-pandemic recovery: London’s population and housing demand rebounded after an exodus in 2020–21. International migration has remained high (albeit down from 2022 peaks) and offices have largely re-opened, bringing renters and buyers back. Unemployment is low and wages are rising in real terms theguardian.com, providing underlying support. That said, pandemic-era preferences for more space mean some demand has shifted to outer suburbs or commuter areas, softening inner London owner-occupier demand relative to pre-2020 trends.
• Policy distortions: A temporary stamp duty holiday (higher tax-free thresholds) had been in place, which expired at the end of March 2025. This led to a surge of completions in early 2025 as buyers raced to beat the deadline theguardian.com theguardian.com. After the holiday’s end, a short-term dip in market activity is expected as demand “resets” theguardian.com. Nonetheless, agents anticipate activity will recover by summer 2025 as the market adjusts and buyers return to a more stable tax environment theguardian.com.
• Prime vs mainstream: Prime Central London (PCL) homes (the high-end market in areas like Mayfair, Kensington, etc.) have been a weak spot. PCL prices in late 2024 were down about 1–2% year-on-year, reflecting both global economic uncertainty and specific factors like tax changes knightfrank.com knightfrank.com. In fact, PCL values are still 18% below their 2015 peak on average knightfrank.com. In contrast, more “needs-driven” segments such as prime outer London (leafy family neighborhoods) saw slight price gains (+1% YoY) knightfrank.com. Mainstream mid-priced London suburbs have also held up better than the ultra-luxury tier, buoyed by domestic demand.

Expert outlook: Despite recent stagnation, experts are cautiously optimistic that London’s housing market will regain momentum. Knight Frank revised up its five-year house price forecast for Greater London to +18% cumulative growth by 2029, citing the improving interest-rate outlook knightfrank.com. Similarly, Savills predicts that 2025 will mark a return to modest price growth in London (roughly +2.5%), after which annual gains of 3–4% could become the norm through 2030 savills.co.uk. In short, the stage is set for a period of slow but steady growth in London home values, as the market adjusts to a post-boom, higher-rate era rather than a sharp boom-bust cycle.

Commercial Real Estate Trends (Offices, Retail, Industrial)

London’s commercial property sector in 2025 is experiencing a gradual recovery after the pandemic shock and 2022–23 valuation corrections. Different segments are faring differently:

• Office Market: The Central London office market is rebounding as businesses solidify hybrid work patterns and the “flight to quality” accelerates. Office leasing activity picked up in late 2024 and Q1 2025 – the West End saw its lowest vacancy rate (≈7.4%) in years by Q4 2024 langhamestate.com, and overall central London vacancy dipped to ~7.1% by early 2025 from a post-COVID high of 8.7% businesstimes.com.sg. Demand is heavily skewed toward prime, modern space: two-thirds of Q1 2025 take-up was for new or refurbished Grade A offices knightfrank.com. As a result, prime rents have hit record highs – about £100/sq ft in the City financial district and £90/sq ft in Southbank knightfrank.com – even while older secondary offices languish. Notably, large occupiers are consolidating into bigger high-quality spaces: companies have reversed some COVID downsizing, with reports of firms leasing larger London offices, essentially “undoing” their 2020 cuts as in-person collaboration proves valuable businesstimes.com.sg.
  • Geographical trends: The City of London and Docklands saw rising investor interest in early 2025. Investment in City/Southbank offices totaled £968m in Q1 (up 33% QoQ) driven by sovereign wealth funds and institutions knightfrank.com. The West End (Mayfair, Soho, etc.) remains highly sought after – Q1 investment there hit £1.6bn (27% up QoQ) with big deals like Norges Bank’s purchase of estates in Covent Garden and Mayfair knightfrank.com. Occupier demand in the West End is spilling into fringe areas (Knightsbridge, Victoria, etc.) as tenants seek quality space amid low core vacancy knightfrank.com. Meanwhile, outer London and South East office parks have seen a resurgence in Q1 2025 with the strongest take-up since 2008, as some firms “north-shore” operations to cheaper locations post-pandemic knightfrank.com knightfrank.com.
• Retail and Hospitality: London’s retail property is in recovery mode. High Street retail was hit hard in 2020–21, but foot traffic and tourism are improving. Prime shopping streets (e.g. Oxford Street) are undergoing revitalization projects – e.g. the huge new IKEA Oxford Street flagship is slated to open in 2025, filling a major vacancy and drawing shoppers timeout.com. Rents for prime retail have bottomed out and even started rising slightly, especially for well-located shopping centres and retail parks, which saw their strongest rental uptick since 2008 in early 2025 knightfrank.com. Additionally, hospitality and leisure venues are buoyed by tourism’s return: the £1.3 billion Olympia redevelopment (completing in 2025) will add restaurants, hotels, and entertainment venues, cementing West Kensington as a cultural hub timeout.com. Investors are cautiously re-entering the retail sector for prime assets, though secondary shops still face challenges from e-commerce.
• Industrial/Logistics: The logistics and warehouse sector remains a standout performer, underpinned by e-commerce and supply chain demand. In Greater London’s outskirts, industrial vacancy is extremely low (~3-4%), and rents continue to climb to record levels. Q1 2025 saw £1.6bn invested in UK industrial assets (a ~10% YoY rise) knightfrank.com. In and around London, occupiers are competing for scarce warehouse space (“sheds”), leading to bidding wars for logistics units. Land shortages – as industrial land gives way to housing – mean supply is constrained. Even though investment volumes dipped in 2024 due to pricing uncertainty, sentiment is improving in 2025. Capital targeting industrial is substantial, and with pricing now adjusting, more deals are closing knightfrank.com. All told, “sheds and beds” remain favoured: industrial was the largest recipient of overseas CRE investment 2021–2024 (24% of foreign capital) bpf.org.uk, and purpose-built residential (Build-to-Rent) is another key target (see below).

Overall commercial outlook: The UK commercial real estate market is charting a more stable course in 2025. Investment volumes in Q1 2025 were muted (£8.1bn, down 28% YoY) amid lingering macro uncertainty knightfrank.com. But confidence is cautiously returning – capital values have rebounded from 2022’s plunge and are at their highest since late 2022 knightfrank.com. London, being a “safe-haven” global city, continues to attract a disproportionate share of capital. There is a flight to quality across sectors: investors and occupiers are focusing on the best assets (modern, green-certified offices; prime logistics; resilient retail schemes), while older or marginal properties may struggle (e.g. older offices with poor energy ratings face obsolescence). Overall, 2025 is expected to see London’s commercial markets stabilize and then strengthen, provided interest rates continue to ease and the economy avoids any severe downturn.

Current Pricing Trends and Future Price Forecasts

Residential Prices: London’s average house prices remain the highest in the UK, and despite recent flat growth, they are poised to rise moderately in coming years. As of early 2025, the average London home price (per Nationwide) is around £529,000 theguardian.com – roughly double the UK average (~£268,000)】 ft.com. After a slight dip in 2023, prices in London stabilized through 2024 (0% annual change) ft.com. Adjusted for inflation, that amounted to a real-terms decline, but the feared “crash” did not materialize as supply remains tight and employment strong.

Looking ahead, multiple forecasts predict a return to growth for London house prices from 2025 onward, but at a measured pace:

• Savills Forecast: The estate agency Savills expects London mainstream house prices to rise ~2.5% in 2025, following an estimated ~2% growth in 2024 savills.co.uk. They forecast London values to increase a cumulative +14% over 2024–2028 savills.co.uk. (This is lower than the UK-wide forecast of +21% over the same period, reflecting London’s affordability constraints and slower recovery savills.co.uk savills.co.uk.) Savills notes that London’s “already stretched” affordability will keep growth moderate, even as the broader UK sees a stronger bounce savills.co.uk. By 2030, Savills projections imply London prices could be roughly 20–25% higher than today in nominal terms.
• Knight Frank Forecast: Knight Frank’s May 2025 outlook is slightly more bullish for London. It revised up its five-year Greater London growth projection to +18.2% (2025–2029) amid improved mortgage conditions knightfrank.com. Notably, Knight Frank expects Prime Central London (PCL) to be flat in 2025 (0% change) but to rally thereafter – projecting ~+19% cumulative growth in PCL by 2029 knightfrank.com. This hinges on a resolution of current headwinds (like tax changes for the wealthy, see policy section). If political uncertainty abates, PCL could see “quick” price rebounds given a decade of underperformance knightfrank.com.
• Office for Budget Responsibility (OBR): The UK’s OBR (fiscal watchdog) forecasts nationwide house prices will rise ~2.5% annually on average from 2025 to 2030 simplybusiness.co.uk simplybusiness.co.uk. This implies a steady, modest growth path rather than a boom. Under this outlook, by 2030 the average UK house price could reach ~£300,000 (up from ~£268k in 2024) simplybusiness.co.uk. London would likely see similar annual growth rates in the low-to-mid single digits, given its maturity. In essence, the OBR expects nominal price growth roughly keeping pace with incomes, avoiding both bubbles and significant real declines.

To illustrate these forecasts, the table below shows projected annual house price growth under different scenarios:

Estimates: Knight Frank did not publish exact annual figures; we have interpolated an approximate trajectory reaching their 5-year total. Savills forecast currently runs to 2028. All figures are nominal house price growth per year.

Overall, these outlooks point to a period of sustained, moderate price growth for London housing. There is broad agreement that the sharp spikes of the pandemic boom are behind us, but so too is the downturn risk, barring a severe recession. By “2030 and beyond,” London’s chronic undersupply (discussed later) and global city status are expected to keep an upward pressure on values.

Commercial Property Values: In the commercial sector, capital values underwent a correction in 2022 as interest rates jumped (property yields rose, pushing prices down ~20% in aggregate). In 2023–2024, prime yields stabilized and are now starting to compress again slightly for the most in-demand assets. For example, prime London office yields moved out to ~5% in 2023 (from ~4% in 2021), but with renewed investor interest in 2025 and easing rate expectations, yields are inching down (prices inching up) for trophy assets knightfrank.com. Capital growth forecasts for commercial property vary by segment:

• Offices: Analysts expect prime London office values to rise modestly over 2025–2027 (perhaps ~2–3% annually) after the 2022 repricing, while secondary office values may stagnate or fall unless refurbished (due to occupier flight to quality). Rental growth in prime offices (with rents hitting £100/sqft) knightfrank.com will support values even as yields remain higher than the ultra-low levels of 2019. The big unknown is how much unused office space can be absorbed or repurposed.
• Retail: Prime retail yields have peaked and may improve if retail sales rebound. However, any capital growth will likely be focused on prime High Street and prime shopping centres. The retail sector has a bifurcated outlook – best assets could see values tick up, while weaker assets face further write-downs or redevelopment to alternative uses.
• Industrial: Logistics assets might resume their pre-2022 growth trajectory fairly quickly. With rental growth still running hot in industrial, many predict double-digit total returns in this segment over the next 5 years. Yields for prime London urban logistics are very low (sub-4%) due to intense investor demand, and values are near record highs. This sector is a clear outperformer, though higher construction and financing costs have tempered new development.

In summary, London commercial property values in 2025 have likely hit their floor and are gradually rising for quality assets. Price forecasts to 2030 generally foresee mid-single-digit annual total returns (rent plus capital growth) for prime commercial real estate – attractive enough for investors in a low-yield world, but dependent on continued economic and occupier recovery.

Investment Activity and Market Opportunities

Investment volumes: Investment activity in London’s real estate is recovering, though not uniformly across sectors. In 2024, total commercial real estate (CRE) investment in the UK was subdued by global uncertainty and higher debt costs. London, as usual, captured a large share of deals. By Q1 2025, UK CRE investment totaled £8.1 billion (–28% YoY) knightfrank.com, with London-based assets making up a significant portion. Offices were the most active sector (£2.2bn in Q1) followed by residential “living” sectors (£2.0bn), then logistics and retail knightfrank.com. Cross-border investors continue to play a dominant role – 53% of CRE investment in Q1 2025 was foreign-sourced capital】 knightfrank.com. Notably, American investors have surged: in 2024, US buyers deployed £13.6bn into UK commercial property, more than double 2023 levels and accounting for a record one-third of all investment bpf.org.uk. This flow from the US “eclipsed all other nations combined” and included several £100m+ mega-deals (Blackstone, KKR, etc.) targeting London hotels, mixed portfolios, and later in the year prime offices bpf.org.uk bpf.org.uk. Other active investor groups in 2024–25 include Middle Eastern sovereign wealth funds (e.g. Abu Dhabi investing in City of London offices knightfrank.com) and European and Asian institutional investors seeking stable, long-term assets.

Market opportunities: The current market presents a number of strategic opportunities for investors and developers:

• Value-add and redevelopment: With parts of the office market in flux (older buildings struggling to attract tenants), investors see opportunity in repurposing or upgrading assets. Converting underused offices to residential is one play (encouraged by planning relaxations, see policy section). Also, refurbishing offices to Grade A, ESG-compliant standards can capture outsized demand and rent premiums. Investors with access to capital can acquire secondary assets at a discount and reposition them – an attractive strategy given London’s enduring location value and the looming 2030 energy efficiency deadlines.
• Build-to-Rent (BTR) Residential: The private rented sector in London offers significant growth potential. Institutional investors (including many from North America) have been pouring money into Build-to-Rent apartments in London’s metro area. Over 17,000 BTR units were completed in the UK in the last 12 months bpf.org.uk, many in London, and more are in the pipeline. However, rising construction costs and planning delays caused a sharp fall in new housing construction starts in 2023–24 (London housing starts were down 44% YoY) savills.com. This future supply gap means that well-located rental developments coming on line in 2025–2027 are likely to lease up swiftly at high rents. Investors are targeting this “beds” sector for its resilient demand and inflation-hedged cashflows. Neighborhoods with large regeneration schemes (e.g. Stratford, Wembley, Nine Elms) are hubs for new BTR communities.
• Prime central London recovery: For opportunistic investors, prime London residential is arguably undervalued relative to its historical trend. As mentioned, PCL prices remain ~18% below peak in real terms knightfrank.com. Some high-net-worth buyers and family offices are taking this moment to acquire luxury London properties at a relative bargain, betting on a bounce-back if global conditions normalize. Indeed, once the uncertainty over tax status and politics clears (see non-dom tax changes), London could reassert itself as a safe-haven for wealthy global buyers, potentially driving a rebound in the ultra-prime segment knightfrank.com.
• Life sciences and alternative sectors: A notable growth area in London real estate is life sciences R&D space. Investors are partnering with universities and hospitals to create lab-capable office spaces (for biotech, pharma startups, etc.) in areas like King’s Cross, White City, and Canary Wharf. With strong government support for biotech and a shortage of lab space, this niche offers high rental premiums. Other “alternative” asset classes like data centers, student housing, and co-living developments are also attracting interest due to structural undersupply and robust demand in London’s market.
• Infrastructure-led opportunities: Major transport and infrastructure upgrades often create property investment hotspots. For instance, the Elizabeth Line (Crossrail), opened fully in 2022, has boosted accessibility in districts like Farringdon, Woolwich, and Tottenham Court Road – areas along the line have seen increased development and rising values. Similarly, future projects (even those in planning) like Crossrail 2 or the Bakerloo Line extension are guiding investors to land-bank in those corridors, anticipating long-term uplift if/when those projects proceed. Another example: the new Silvertown Tunnel (opening 2025) will improve links to East London’s Royal Docks and Greenwich; investors have been active in these areas expecting growth in logistics and mixed-use potential once the tunnel opens timeout.com timeout.com.

In summary, London remains one of the world’s top real estate investment destinations, with $132 billion invested in its commercial property in the past decade – more than any other city globally eliteagent.com. The market in 2025 offers a mix of stabilized core assets for yield-focused investors and value-add opportunities for those looking to leverage London’s transformation (be it through urban regeneration, new infrastructure, or shifting occupier trends). The key for investors is careful sector and asset selection: the gap between prime and secondary is wide, making informed strategy essential.

Demand and Supply Dynamics

A fundamental driver of London’s real estate is the imbalance between demand and supply, especially in housing. London faces a well-documented housing shortage that underpins long-term price and rent pressures. Here we analyze the current demand-supply situation in both residential and commercial segments:

Residential Demand: Demand for homes in London comes from a growing and internationally diverse population. The city’s population is around 9.5 million in 2025 and projected to keep rising, fueled by both natural growth and migration. Net international migration remains positive (despite a dip from record highs), with the UK easing post-Brexit visa rules and schemes like the Hong Kong BN(O) visa attracting tens of thousands of new Londoners (who often arrive with funds to buy property) benhams.com benhams.com. Culturally, homeownership is still a strong aspiration in the UK, meaning demand to buy persists even among high prices – though many younger households remain stuck renting due to deposit and mortgage constraints.

Crucially, demand far outstrips supply of homes. The Greater London Authority’s new draft London Plan targets 88,000 new homes per year to meet need savills.com, a dramatic increase from previous targets (~52,000/yr). This reflects years of undersupply: recent construction has averaged only ~37,800 net new homes per year (2020/21–2022/23)】 trustforlondon.org.uk – barely half of what’s needed and not even keeping up with household formation. In 2023–24, the situation worsened as construction starts plummeted (private housing starts down 44%, affordable starts down 84%) savills.com, due to economic uncertainty and high construction costs. Only 14% of the annual target was started that year savills.com, pointing to even greater shortfalls ahead unless trends reverse.

This persistent undersupply is why, even when demand temporarily cools (e.g. due to interest rates), London’s housing market tends to find a floor. Buyers may pause, but fundamentally there are far more people looking for housing than homes available – a recipe for ongoing competition. The scarcity is especially acute in affordable and mid-market housing. Many would-be first-time buyers remain in the rental market or living with family, representing “pent-up” ownership demand that could be unleashed if conditions improve (e.g. lower mortgage rates or new help-to-buy schemes). With the economy expected to grow modestly and mortgage rates normalizing, latent housing demand in London should re-emerge, bumping up against constrained supply.

Residential Supply: On the supply side, London’s challenges include limited land, complex planning, and construction industry capacity. Most development is on brownfield land, often former commercial sites requiring expensive remediation or infrastructure. The planning process in London boroughs can be slow, and local opposition (NIMBYism) to density remains a hurdle. While there are many approved projects (over 200,000 consented units in designated Opportunity Areas remain unbuilt savills.com), turning permissions into completions is the big challenge. Developers cite difficulty in getting “deliverable” permissions – planning consents that are economically viable to build in a timely way savills.com. Rising build costs (labour and materials inflation) over the past two years have further squeezed margins, causing some projects to stall.

Additionally, affordable housing delivery has lagged badly. Public housing funding hasn’t kept pace with need, and private developers face higher costs contributing required affordable units, slowing projects. According to Trust for London, only ~69% of new homes added in recent years were in inner London, and outer boroughs under-deliver relative to population trustforlondon.org.uk. However, the new London Plan may push more development into suburbs and even release some protected land to hit ambitious targets.

In sum, London’s housing supply crunch is set to continue, and possibly intensify, unless bold measures are taken (discussed in policy section). This dynamic virtually guarantees that any upswing in demand (from lower rates or economic growth) will rapidly translate into upward price and rent pressure. It also means competition remains fierce for available properties, benefiting sellers/landlords over buyers/renters in the long run.

Commercial Demand & Supply: In commercial real estate, demand and supply vary by sector:

• Offices: Demand for London office space has bifurcated: high for modern, sustainable offices (to attract staff back and meet ESG targets), low for older stock. The supply of prime offices is actually tightening – new development starts slowed during the pandemic and high construction costs curtailed speculative building. So, even though overall vacancy is ~7%, much of that is older space; prime Grade A vacancy is much lower in core sub-markets. Pre-leasing of new projects is common. For example, developers report that pre-lets remain crucial as tenants commit early to new builds to secure quality space content.knightfrank.com. Some planned office projects were paused in 2022–24 due to uncertainty, meaning fewer new completions in 2025–27, which will limit supply. Meanwhile, some outdated offices may be removed from stock (conversion to other uses) rather than adding to supply glut. Thus, the office market paradoxically faces a shortage of the right product and an excess of obsolete space. Net effective supply is tightening in the prime segment, supporting rents, while older buildings face high vacancy unless repositioned.
• Retail: Demand for retail space in London is recovering as footfall improves, but the shift to online shopping has reduced retailers’ space requirements. Supply of retail space, especially in central London, actually increased during the pandemic (vacant units). Now, much of that space is gradually being absorbed or repurposed (e.g. Oxford Street vacancies being filled by leisure, retail or even proposed office use). The supply of prime retail units in top locations remains limited (hard to create new High Street), so as demand returns from flagship brands and international retailers, prime retail rents are rebounding. Secondary retail supply is abundant, though, keeping rents low in tertiary locations and high streets in weaker catchments.
• Industrial: Demand for London industrial/logistics space far outstrips supply. The rise of e-commerce, same-day delivery, and urban logistics has companies scrambling for warehouses close to the city. Yet supply is extremely constrained – London has lost a lot of industrial land to redevelopment (over 1,300 hectares lost 2001–2015, and more since). What land remains trades at a premium. Vacancy ~3% is essentially frictional (space is leased almost as soon as it’s built). New supply comes from intensification (multi-storey warehouses, etc.) and a few outlying developments, but overall London’s industrial pipeline is limited. This mismatch means industrial rents in London have been growing at double-digit rates until recently, and even now continue to rise faster than inflation. The shortage of “sheds” will persist as long as alternate uses (housing) pay more for land – a fundamental conflict in London’s land use.

Bottom line: Demand drivers – population growth, a strong services economy, London’s global city status – remain robust, while supply of both housing and commercial space faces structural limitations. London’s real estate dynamics are characterized by scarcity. This underpins the long-term strength of the market but also creates affordability issues and encourages innovative solutions (such as higher-density building, co-living, workspace sharing, etc.). Unless there is a significant policy intervention or economic shock, expect demand to continue outpacing supply in most segments, sustaining upward pressure on prices and rents well into the future.

Rental Market Overview

London’s rental market has been running hot, though a recent cooldown suggests some relief for tenants may be on the horizon. By mid-2025, rents are still at record highs, but the breakneck growth of 2022–2023 has moderated. Here’s a snapshot of the rental landscape:

• Record Rent Levels: London remains the most expensive rental market in the UK by far. The average monthly rent in Greater London is around £2,200–£2,700 (depending on measure) in 2025 homelet.co.uk theindependentlandlord.com, roughly double the UK average (~£1,150). For instance, a recent index showed average advertised rents in London at £2,698 per month, up 2.5% year-on-year theindependentlandlord.com. In prime central areas or larger units, rents are much higher: the priciest borough, Kensington & Chelsea, has average rents over £3,600 per month ons.gov.uk. Such levels mean renting is a significant financial burden, consuming over 40% of median household income in London.
• Recent Rent Surge (2021–2023): The pandemic lull gave way to an unprecedented rent boom from late 2021 through 2022. As students, young professionals, and international migrants returned to London, rental demand exploded while supply was very tight (many landlords had sold or switched to short-term lets). This drove double-digit rent growth in London for the first time in decades. Zoopla reports that rents rose 21% over the last 3 years (2020–2023) in the UK, with London and other big cities leading the surge】 zoopla.co.uk zoopla.co.uk. By mid-2023, London rents were rising ~15% year-on-year. This created a “rental affordability crisis” with bidding wars for apartments, long queues at viewings, and tenants often paying above asking rent to secure a home. Rental yields improved for landlords, but many tenants were priced out or forced to downsize/relocate.
• Growth Cooling in 2024–2025: Fortunately for renters, this steep climb has finally cooled. Annual rental growth in London has slowed dramatically as of spring 2025. Nationwide, rents were up just 2.8% in the year to April 2025, the slowest pace in 4 years zoopla.co.uk zoopla.co.uk. London specifically saw rent inflation fall to the low single digits (~2–3% YoY by mid-2025), a far cry from the 10%+ a year earlier. Several factors explain this moderation:
  • Slight demand easing: Rental demand, while still high, has pulled back from 2022’s frenzy. With offices adopting hybrid work, not everyone needs to be in London full-time. Also, some high earners who were renting have taken the plunge into homeownership as the sales market stabilizes (aided by improved mortgage availability for first-time buyers) zoopla.co.uk zoopla.co.uk. Additionally, net immigration has normalized a bit and there was a 50% drop in net migration in 2024 from 2022’s peak (though still above long-term averages) zoopla.co.uk, slightly reducing new rental household formation.
  • Improved supply: While still low, rental supply has increased off the extreme lows. There are about 17% more homes available to rent in early 2025 than a year prior】 zoopla.co.uk. Properties are staying on the market a bit longer, giving renters more choice. Some landlords are re-entering the market as interest rates stabilize, and a few institutional Build-to-Rent projects have been completed, adding new units. Despite this uptick, supply remains ~20% below pre-pandemic norms zoopla.co.uk, so competition is still fierce – just not as manic as before.
  • Affordability ceiling: Simply put, rents hit a point where many tenants cannot afford further increases. By late 2023, the share of income spent on rent in London was at record highs. This has a natural braking effect: if tenants can’t pay more, rent growth has to slow. Landlords also recognize that pushing too high leads to arrears or vacancies. The removal of rent caps in Scotland showed that market forces, not just regulations, are curbing rent rises due to affordability limits zoopla.co.uk.
• Regional variations within London: Even within London, rent trends vary. In early 2025, some of the most expensive sub-markets have actually seen rents plateau or dip slightly – for example, West Central London (around Westminster/Covent Garden) saw rents –0.6% year-on-year, and North West London slightly negative as well zoopla.co.uk. This suggests the top-end rental market hit a ceiling. On the other hand, relatively more affordable outer zones or commuter areas still saw increases, as renters priced out of central locations seek cheaper options. The overall slowing of rent growth is broad-based but areas like the North East of England (e.g. Newcastle) still led the country with ~5% rent growth, whereas London’s growth was closer to ~3% zoopla.co.uk zoopla.co.uk. Essentially, London already went through its sharp rent jump, and other regions are now catching up at a slower pace.
• Renter demand vs. buy demand: A notable dynamic is that rental demand remains 60% above pre-pandemic levels in the UK zoopla.co.uk. Many London renters are prospective first-time buyers delayed by high prices or unable to get a mortgage. As credit conditions improve (and banks ease some affordability tests), some higher-income renters will transition to buying, easing rental demand at the margin zoopla.co.uk. However, for lower-income renters, buying remains out of reach, so rental demand from that cohort is stable or growing. The city’s large student population and young professionals ensure a steady influx of renters each year.
• Rental outlook: Looking ahead, experts expect London rents to keep rising, but at a much more sustainable pace. Zoopla projects 3–4% rent growth for 2025 nationally zoopla.co.uk – London may be in that range or slightly higher given ongoing supply tightness. Over the next 5 years, Knight Frank forecasts London rents to cumulatively rise about +17% by 2029 knightfrank.com knightfrank.com (roughly 3% annually), a touch below their house price growth forecast as some equilibrium returns to the rental market. Importantly, government policy (see next section) could also influence rental trends: the Renters’ Reform Bill expected in 2025 will change eviction rules and could motivate some landlords to sell, squeezing supply further and pushing rents up knightfrank.com knightfrank.com. In fact, the anticipation of these rules has already contributed to landlords exiting – new rental listings in Q1 2025 were still 18% below 2019 levels knightfrank.com knightfrank.com. Additionally, energy efficiency requirements (EPC upgrades by 2028) are prompting some landlords to sell rather than retrofit, again reducing rental stock knightfrank.com. These factors suggest the rental market will remain landlord-favorable, with vacancy rates extremely low and upward pressure on rents, especially for quality properties.

In summary, London’s rental market in 2025 is still very challenging for tenants – rents are near all-time highs, and while the growth has slowed, there’s been no notable reduction in rents. Landlords are benefiting from strong demand and have been able to be selective with tenants, although they face their own challenges with new regulations. For renters, any respite is relative; competition for affordable units remains intense. The structural undersupply of rental housing in London underpins the market, and without a significant increase in rental development or policy intervention, high rents are here to stay, growing gradually from this new elevated base.

Key Geographic Sub-Markets within London

London’s property market is not monolithic – it is a collection of many sub-markets with distinct dynamics. Here we highlight several key geographic sub-markets in both central and Greater London, noting their current trends and outlook:

Prime Central London (PCL)

Areas: Encompassing the prestigious postcodes of Mayfair, Belgravia, Knightsbridge, Chelsea, Kensington, Notting Hill, and St. John’s Wood, among others. Also includes pockets of high-value property in Westminster and the City fringe.

Characteristics: PCL is known for its ultra-luxury residential properties, high-net-worth international buyers, and historically as a “safe deposit box” for global wealth. It also overlaps with core office/retail districts (e.g. Mayfair offices, West End retail).

Recent trends: As discussed, Prime Central London has underperformed in recent years. Prices are roughly flat to slightly down over the past year knightfrank.com, and transaction volumes are muted. Tax and political changes have weighed on this market – notably the end of the non-domiciled tax status (effective April 2025) which has prompted some wealthy foreigners to leave or be cautious (more on this in policy section) knightfrank.com. Also, past increases in stamp duty on high-value homes (up to 15% for some bands) and the 3% second home levy have made PCL purchases pricier. As a result, demand in PCL remains subdued in 2024–25 knightfrank.com, with buyers having more negotiating power. Knight Frank’s Prime London Index showed annual price falls of ~1–2% in late 2024 knightfrank.com. Lettings in PCL, however, have been strong (some owners choosing to rent out rather than sell at a discount).

Outlook: The medium-term outlook for PCL is cautiously optimistic. The consensus is that PCL has significant “rebound potential” once headwinds ease, given that prices have been effectively discounted for years. The combination of a lower pound (still below pre-2016 levels, making London cheaper in USD or EUR terms) and potentially more stable political climate post-2025 could lure back international buyers. Some nationalities remain very active in PCL: for example, there’s sustained interest from Middle Eastern buyers (often seeking a stable place to park oil wealth) and an influx of Hong Kong and Chinese buyers motivated by education and diversification benhams.com benhams.com. According to a study, Hong Kong buyers were the largest overseas contingent in London in 2024 (13.5% of foreign purchases) benhams.com, many targeting prime areas. PCL’s deep appeal – top-tier culture, schools, security of ownership – endures. We may see a return to growth in PCL prices by 2026–2027, with forecasts ~+3% in 2026 and +5% in 2027 knightfrank.com. Moreover, the ultra-prime segment (homes £10m+) might see record-breaking deals again as global billionaires re-enter once non-dom changes are digested. On the commercial side, West End offices and retail in PCL (e.g. around Bond Street) are thriving, with investor demand robust knightfrank.com, which bodes well for maintaining the prestige and vibrancy of these districts.

The City of London & Canary Wharf (Financial Hubs)

Areas: The City of London (the “Square Mile”) and Canary Wharf in Docklands are the two main financial districts. The City also has some residential pockets (e.g. Barbican), but is predominantly offices. Canary Wharf is mixed-use but dominated by office towers and increasingly, new residential developments on the estate and nearby (Wood Wharf, South Quay).

Recent trends: These areas were heavily impacted by the pandemic (with office workers remote and some firms downsizing space). Even in 2023, office utilization was below pre-Covid norms, raising questions about demand for all that office space. However, by 2024–25, return-to-office momentum (often via hybrid mandates) has improved occupancy. The City’s office leasing picked up, though vacancy remains elevated (~9% in City in late 2024). Still, prime City offices with great amenities and ESG credentials are doing well – as evidenced by record rents of £100/sqft in the City knightfrank.com. Investment interest in the City has revived, with sovereign wealth funds and others taking stakes in major developments (e.g. Abu Dhabi’s Modon in a Broadgate project) knightfrank.com. Canary Wharf faces more headwinds; some banks have reduced footprint. The Canary Wharf Group is actively pivoting the area towards diversification – adding residential units (thousands of new apartments), a life-sciences hub (the new Genomics lab campus), and more retail/leisure to make Canary Wharf a 24/7 neighborhood beyond finance.

Outlook: The City is working to reinvent itself as well, encouraging conversion of obsolete offices into residential or creative uses. The City of London Corporation has an initiative to add 1,500 homes in the Square Mile by 2030. We expect uneven performance in these hubs: top-tier buildings (like new skyscrapers or well-refurbished ones) will lease and sell strongly, while older office blocks might be candidates for repurposing. Rents for prime City and Docklands offices are forecast to hold firm or rise slightly, but secondary rents may stagnate. On residential: City fringe areas (Shoreditch, Farringdon) continue to gentrify and are popular with young professionals. Canary Wharf’s new homes are drawing renters and some buyers who appreciate the high quality and relative value (you can rent a modern flat in Canary Wharf for significantly less than an equivalent in Zone 1). With Crossrail now cutting travel times, living in Docklands is more attractive. International investors (from Asia, Middle East) also like buying new-build flats in these areas for rental yield. Thus, City/Docklands sub-markets are in transition, but likely to remain central to London’s economy – albeit with a shift to a more mixed-use flavor over the coming decade.

West End & Midtown (Central London Mixed-use)

Areas: The West End includes areas like Mayfair, Soho, Fitzrovia, Marylebone, Covent Garden, and Midtown stretches through Holborn, Bloomsbury towards the City. These areas combine luxury residential, prime offices (especially hedge funds, creative industries), retail (Oxford St, Regent St), hotels, and cultural venues.

Recent trends: The West End property market has been very resilient. Residential here is part of PCL (see above) – super-prime flats and townhouses are common. Commercial demand in the West End is sky-high: Q1 2025 saw record investment volumes in West End offices (£1.6bn) with many large trophy deals knightfrank.com. Norges Bank (Norway’s sovereign fund) notably acquired stakes in Mayfair and Covent Garden estates knightfrank.com, underlining investor confidence in the West End. Office vacancy in West End is the lowest in London (~7% and dropping) langhamestate.com, and prime office rents (around £120/sqft in Mayfair/St James’s) are among the world’s highest. Retail and hospitality in the West End is recovering strongly: footfall is increasing as tourism resumes and office workers/social life return. Flagship retail spaces on Oxford Street are in high demand from international brands (e.g. IKEA’s upcoming store, as mentioned) timeout.com. Regent Street and Bond Street continue to command top rents for luxury boutiques.

Outlook: The West End’s diversified appeal (business, shopping, entertainment, high-end living) makes it a perennial hot spot. Expect ongoing investment and redevelopment: for example, the Oxford Street District is undergoing a £150m improvement plan including pedestrianization and mixed-use redevelopment of older stores. In Fitzrovia and Bloomsbury, we see tech and media companies expanding (the Knowledge Quarter around Euston/Kings Cross and Tech Belt areas like Clerkenwell are bridging West End and City). Midtown (Holborn) has several major projects (like Post Building, etc.) upgrading the office stock. On residential, the pipeline of new luxury developments is limited (due to scarcity of sites), which will keep supply tight and values high. An example is the 1 Mayfair ultra-luxury scheme completing in 2025 with just 29 residences valued at £2 billion total hudsonsproperty.com – an average of nearly £70m each, showing the level of wealth targeting this area. Overall, Central West End/Midtown sub-markets should see strong rental and capital growth, particularly as international travel normalizes (boosting demand for pied-à-terres and luxury second homes, as well as retail spend).

Emerging East London & Regeneration Zones

Areas: This refers to neighborhoods in East and Southeast London that have seen significant regeneration. Key examples: Stratford and the Olympic Park (Newham), Docklands surroundings (Royal Docks, Greenwich Peninsula), Old Oak Common (NW London, a future HS2 hub), Nine Elms (Vauxhall/Battersea in SW London), and various Opportunity Areas like Tottenham Hale, Brent Cross, Croydon, etc.

Recent trends: London’s growth in the 21st century has been largely in these regeneration zones. East London: Stratford, since the 2012 Olympics, has transformed with thousands of homes, Westfield mall, new cultural institutions (e.g. V&A East opening 2025) timeout.com, and office relocations (e.g. Transport for London’s HQ). Property values in Stratford have climbed strongly (though still cheaper than central London), and it remains a focus for future development (International Way project adding 380 homes completes in 2025) timeout.com. The Royal Docks area (Silvertown, Custom House) is similarly on the rise, aided by Crossrail and the upcoming Silvertown Tunnel improving connectivity timeout.com. Greenwich Peninsula’s ongoing build-out (around the O2 arena) is creating a new residential district. South of the Thames, Nine Elms saw a flurry of luxury apartment towers (including the new US Embassy and Battersea Power Station project). While initial sales there slowed due to oversupply of high-end flats, the area is maturing with more amenities and the Northern Line extension now open.

Importantly, many overseas buyers who want new-build but can’t afford Zone 1 are turning to Zones 2–3 regeneration areas. As noted by Benham & Reeves, not all foreign investors have millions for PCL; they are increasingly looking at Outer London areas like Southall, Hayes (west), West Ham, Woolwich (east), Wandsworth (south) etc., which offer regeneration potential and improved transport benhams.com. These zones often have major schemes by top developers, attracting foreign capital and renters alike.

Outlook: The trajectory for these sub-markets is continued growth and convergence with central London. As infrastructure projects complete (e.g. HS2’s Old Oak Common hub around 2030, new Overground stations, Cycle superhighways, etc.), previously peripheral districts become viable for more intensive development. The Mayor’s plan emphasizes building housing near transport nodes – so expect high-density projects around Crossrail stations, new Tube extensions, and rail hubs. For instance, Old Oak Common (which will eventually be a super-connected interchange) is slated for 25,000 homes and huge commercial space in coming decades. East London’s Elizabeth Line corridor (Custom House, Woolwich, Abbey Wood) is already seeing house price outperformance due to newfound accessibility. Many of these regeneration areas also coincide with housing “Opportunity Areas” earmarked in the London Plan – which will be critical in attempting to reach housing targets. We anticipate that Stratford and the Queen Elizabeth Olympic Park will further establish themselves as a second major business/cultural center in East London (with institutions like UCL East campus, new museums, etc.), boosting property values locally.

Investors view these emerging sub-markets as offering higher yield and growth prospects than ultra-prime central London. Yields on new apartments in Zone 2/3 can be 4–5% (versus 2–3% in PCL), and there is scope for stronger capital appreciation as the area improves. Therefore, international investment is flowing here – for example, Hong Kong buyers are active in schemes like Royal Eden Docks, White City (West London regeneration around former BBC), and others benhams.com benhams.com. Over the next 5+ years, these areas will likely continue bridging the gap with more established districts, both in pricing and desirability, as London’s center of gravity expands east and south.

Outer London Suburbs

Areas: The outer boroughs (Zones 4–6 and beyond) such as Bromley, Croydon, Barnet, Enfield, Ealing, Waltham Forest, etc. – essentially the more suburban parts of Greater London.

Recent trends: Outer London often offers relatively larger houses, more green space, and (somewhat) more affordable prices, making it popular with families and those priced out of inner areas. In the last couple of years, outer London housing markets performed relatively well – many outer boroughs saw small price gains even when inner London was flat, as buyers sought space and value for money knightfrank.com. For example, prime outer London (like Wimbledon, Richmond, Hampstead) had +1.2% annual price growth in Apr 2025 vs. –1.6% in PCL knightfrank.com. During the pandemic, outer suburbs from Richmond to Redbridge saw heightened demand, a trend that has only partly reversed. On the rental side, outer zones have also seen strong rent increases as renters move further out for affordability; yields are a bit higher in the suburbs, attracting buy-to-let interest (although commuting costs/time trade-offs are a factor).

Outlook: Outer London will continue to play a key role in housing delivery. Several town centers on London’s fringes are undergoing redevelopment (e.g., Croydon’s regeneration with new malls and tall residential blocks, Brent Cross Town development in Barnet adding homes and offices, Hounslow town center plans, etc.). The London Plan encourages densification around transport in outer boroughs – we may see more mid-rise apartment schemes near train stations historically surrounded by low-rise housing. Politically, there’s pressure to use some outer London land (even Green Belt land in select cases) to meet housing needs, though this is contentious. Transport upgrades like the planned Crossrail 2 (if revived in the 2030s) would heavily involve outer SW and NE London, unlocking growth. Also, expansions of park-and-ride and rail capacity (e.g. Thameslink upgrades, Overground extensions) will improve suburb-city links.

Property price growth in outer London might outpace central London in percentage terms in the coming years, given still-strong demand for family homes and relatively lower starting prices. For instance, some forecasts have London’s outer boroughs leading growth in 2025 (Hamptons predicted +4.5% for London overall, with outer zones buoyed by domestic buyers) moneyweek.com. One challenge is the affordability pinch from higher interest rates is felt more strongly in cheaper areas (since buyers there are often more leveraged). But if rates fall, outer areas stand to benefit from a surge of first-time buyer activity.

In rentals, outer areas might see more supply as some central landlords seek different opportunities (though many landlords are leaving altogether due to regulatory changes). Build-to-Rent is also expanding to outer London – for example, Canada Water (Southwark, on the cusp of inner/outer) is getting a huge new mixed-use project with rental units; Wembley Park (Brent) already has a large BTR community. These provide professionally managed rentals attractive to those who don’t need to be in Zone 1.

In summary, outer London’s sub-markets are diverse but generally positioned for steady growth, supported by ongoing demand for more space and the city’s expansion. Key outer borough centers will increasingly become self-sufficient mini-cities with their own employment hubs, which should boost local property markets.

Major Developments, Infrastructure Projects, and Government Initiatives

London’s urban landscape in the latter 2020s is being reshaped by several major developments and infrastructure projects, as well as public-sector initiatives aimed at supporting growth. These have direct implications for real estate values and opportunities:

• Transport Infrastructure:
  • Elizabeth Line (Crossrail): Since fully opening in 2022, the £19bn Crossrail project has been a game-changer. It dramatically cut travel times east–west across London. Areas like Woolwich, Abbey Wood, Ilford, Ealing have seen increased housing demand and price outperformance as a result of their new fast connections. Property consultants noted a “Crossrail premium” of 5-10% on house prices near new stations. As the line settles into normal operations, its regenerative impact continues (e.g., attracting businesses to Farringdon and Paddington hubs).
  • Silvertown Tunnel: Due to open by late 2025, this new road tunnel under the Thames will link Greenwich Peninsula to the Royal Docks (Newham). It’s the first new Thames road crossing in 30 years timeout.com. Controversial due to environmental concerns, it nonetheless should reduce congestion at Blackwall Tunnel and improve access to East London. Better connectivity could spur development in the Royal Docks/Silvertown area – which already has projects like Silvertown Quays (a huge mixed-use scheme) underway. Expect logistics and residential sites on both sides of the river to get a boost from the improved link.
  • High-Speed 2 (HS2): The HS2 rail project, while primarily inter-city, has significant London components. Old Oak Common in West London will become a major HS2 and Crossrail interchange (the station is under construction, planned by 2030). This is driving the Old Oak/Park Royal regeneration, targeting 25,500 homes and 56,000 jobs over 30 years. However, the HS2 leg to Euston Station has faced delays and uncertainty; in 2023 the government paused work on Euston’s HS2 terminus to cut costs en.wikipedia.org. A redesigned, smaller Euston HS2 plan is likely, but timeline pushed out. The delay might temporarily cool development enthusiasm around Euston, though long-term that area (with significant public land) is slated for mixed-use redevelopment tied to the new station.
  • Bakerloo Line Extension: A proposed extension of the Tube’s Bakerloo Line to Lewisham (and potentially beyond to Bromley) is on the drawing board. While not funded as of 2025, the mere prospect has stimulated housing plans in New Cross, Lewisham and along Old Kent Road, where large-scale redevelopment is contingent on better transport. If it proceeds in the 2030s, it could unlock tens of thousands of homes in SE London. The Crossrail 2 north-south line is similarly paused but safeguarded – if political will and funding revive it, that would profoundly impact areas like Wimbledon, Tooting, Hackney, and Tottenham with new stations, but for now it’s in limbo.
• Urban Mega-Developments:
  • Olympia Redevelopment: The historic Olympia exhibition center in West Kensington is undergoing a £1.3bn redevelopment due in 2025 timeout.com. It will deliver a state-of-the-art events venue plus a creative district including a 4,400-seat music arena, hotels, offices, and eateries. This will transform the surrounding area into a cultural hotspot and likely uplift Hammersmith & Fulham property values. Already, developers and investors (e.g. Yoo Capital) behind Olympia are eyeing adjacent sites for supporting development.
  • King’s Cross & Tech Central: While King’s Cross Central (67-acre mixed redevelopment) is mostly complete with offices (e.g. Google’s new “landscraper” HQ opening 2025 timeout.com), housing and University facilities, it continues to draw investment. Google’s HQ (330m long) cements the area as a tech hub alongside Facebook and others. Nearby, the Knowledge Quarter including British Library expansion and life-science labs will further enhance the area. This ongoing activity keeps pushing up rents and values in King’s Cross, Camden and Islington surrounds.
  • Earls Court Redevelopment: After years of false starts (the Earls Court exhibition center was demolished in 2015 but plans stalled), a new masterplan is underway to build 4,500 homes plus offices on the huge 40-acre site spanning Kensington & Chelsea and Hammersmith & Fulham. In 2023, the site was sold to Delancey and investors who aim for a fresh, perhaps more mixed-use scheme. If it progresses in late 2020s, it will be one of central London’s biggest housing boosts.
  • Thames Tideway Tunnel: London’s “super sewer” is a less glamorous but critical project. Construction completed in 2024 on this 25km tunnel under the Thames to capture sewage overflows timeout.com. When fully operational by 2025, it will greatly clean the river. A cleaner Thames enhances the appeal of riverside property (less odor, more recreation). It’s also a pre-condition for some riverside development intensification. Long-term, a cleaner environment can lift property values citywide, especially along the water.
• Housing and Planning Initiatives:
  • New London Plan (2025): As noted earlier, the Mayor’s new London Plan under consultation is a major initiative. It raises housing targets to 88k homes/year and emphasizes a “brownfield-first” approach savills.com savills.com. There is talk of increasing density, supporting more small sites development, and possibly reviewing Green Belt in select locations. The Plan seeks to streamline planning and give more flexibility to boroughs to approve schemes that deviate from rigid rules (acknowledging that too many permissions are unimplemented) savills.com. If successfully implemented, this could gradually improve housing supply, though execution is uncertain. The Plan also highlights affordable housing – maintaining or increasing requirements on private schemes to include affordable units (typically 35-50% of units, though viability often reduces this). Real estate developers will be watching how any new policies affect their ability to get projects approved and funded.
  • Infrastructure-led Housing: The UK government has various funding pots like the Housing Infrastructure Fund (HIF), which awarded money to support new transport or utilities in places like Docklands and Enfield to unlock housing sites. Similarly, “Investment Zones” were proposed in 2023 – one of which is focused on a zone in Inner London (possibly around Canary Wharf or Royal Docks) to spur innovation and development with tax incentives. In mid-2025, the British Government announced several new Regeneration Partnerships to redevelop underutilized city center sites (some in London boroughs) – this includes transforming old shopping precincts or council estates into mixed-income communities with thousands of homes.
  • Major Estate Regeneration: Many of London’s council housing estates are undergoing regeneration (either by councils or with private partners). For example, projects like Elephant & Castle (Southwark) – replacing old estates with new mixed developments (the new town center and housing is well underway), Aylesbury Estate (multi-phase rebuild in Walworth), Woodberry Down (Hackney, ongoing large estate regen), and Broadwater Farm (Tottenham, in planning). These initiatives aim to increase housing supply, improve quality, and often add private units for sale. They are complex and sometimes controversial, but represent a significant portion of the development pipeline across various boroughs.
  • Government Housing Initiatives: Nationally, one key recent initiative is the First Homes scheme (introduced 2021) – offering new flats to first-time buyers at 30% discount – which some London developments are incorporating. The government also temporarily cut Stamp Duty in 2020–2021 to stimulate the market, and as noted, maintained a somewhat elevated nil-rate band until Mar 2025. There’s discussion of future planning reform to streamline approvals (e.g. zoning-style system), but progress has been slow. In late 2024, the government created a Department for Science, Innovation and Technology hub in London, potentially aiding real estate in innovation districts.
• Commercial Hubs and Initiatives:
  • Life-Science Clusters: The government and GLA are promoting life-science and tech clusters. This has real estate impacts: e.g. White City (West London, around Imperial College) has new lab buildings and residential, becoming a life-science hub; Stratford is targeting biotech with lab space at Here East. The London Cancer Hub in Sutton is another example (large campus planned). These clusters often get public funding and planning support, boosting local real estate demand for specialized space.
  • Cultural Infrastructure: Aside from Olympia and V&A East, London is seeing investment in cultural venues which can regenerate areas. The new Museum of London at West Smithfield (City) is under construction, expected to drive footfall in Smithfield/Farringdon. The proposed Centre for Music (a world-class concert hall mooted for the City) was shelved in 2022, but other smaller arts venue projects continue. Culture-led regeneration, such as the BBC Maida Vale studios site being redeveloped into a music venue and affordable housing, or the Brick by Brick Croydon arts initiatives, indirectly raise local profiles.

Overall, these projects and initiatives collectively indicate that London is investing in its future as a global city, even amid economic uncertainties. Better transport links, cleaner environment (super sewer, ULEZ expansion citywide in 2023), and large mixed-use developments will all influence where people and businesses choose to locate. For real estate stakeholders, being aware of these can highlight “where next” opportunities – history shows proximity to new stations or revitalized districts often yields above-average property appreciation. Additionally, government policies attempting to boost housing or specific sectors can open up new niches (e.g. build-to-rent benefitted from institutional support, life sciences from R&D funding, etc.). Of course, deliverability is key – not all plans come to fruition on time. But those that do will shape London’s market through 2030 and beyond.

Regulatory, Tax, and Planning Policy Changes

The policy and regulatory environment around London real estate is evolving. Several recent or upcoming changes in taxation, regulation, and planning are materially affecting the market:

• Abolition of Non-Dom Tax Status: A major change for wealthy international investors is the UK’s decision to scrap the long-standing “non-domiciled” tax regime from April 2025. This regime previously allowed resident foreigners to shield overseas income/assets from UK tax indefinitely. Its abolition (replaced with a limited 4-year tax exemption for new residents) is expected to make the UK less attractive for some ultra-rich individuals taxscape.deloitte.com taxscape.deloitte.com. Indeed, the change has already prompted a wealth exodus: Knight Frank reported “a number of non-doms have left the UK” as a result, dampening demand in prime London markets knightfrank.com. The new system only gives newcomers a short tax holiday (4 years) taxscape.deloitte.com, after which they’re fully taxed on worldwide income, and even trust protections are being removed taxscape.deloitte.com taxscape.deloitte.com. This is a significant shift. Impact: Prime central London may see fewer super-rich buyers or at least more price sensitivity, potentially capping growth in the ultra-prime segment. Developers of luxury projects will keep a close eye on whether the wealthy adapt to the new rules or choose other cities. Conversely, it could push some to invest sooner before rules bite, or encourage those who truly want to be in London to simply treat the taxes as a cost of doing business. (It’s worth noting that many non-doms are in London for lifestyle or business reasons beyond tax.)
• Stamp Duty and Transaction Taxes: The UK’s Stamp Duty Land Tax (SDLT) has seen adjustments in recent years. For ordinary buyers, the pandemic stamp duty holiday (2020–21) gave way to permanently higher tax-free thresholds (up to £250k, or £425k for first-time buyers) which were in place until 31 March 2025. After that date, thresholds reverted lower, effectively a tax rise for buyers from April 2025 onward theguardian.com. This policy change bunched transactions into early 2025 and could slightly soften demand afterward as costs rise. More notably for London, there’s a 2% SDLT surcharge on non-UK residents buying residential property, introduced in 2021 galliardhomes.com. This means overseas buyers can pay up to 17% SDLT on the top slice of a purchase (15% for UK residents on high-value second homes +2% non-resident surcharge) knightfrank.co.uk. This steep entry cost may deter some speculative or marginal foreign buyers. However, London remains very attractive globally, and many overseas buyers factor it in. There’s talk politically of further measures on foreign owners (Labour at one point proposed a ban on foreign buying of new builds, akin to Canada’s policy, but it’s not confirmed). Additionally, Annual Tax on Enveloped Dwellings (ATED) charges and the end of corporate ownership loopholes have been implemented over the past decade, reducing the benefit of holding London property in opaque offshore companies. All these indicate a trend of tax tightening on high-end and foreign property investment.
• Renters’ Reform and Landlord Regulations: The Renters’ Reform Bill in England (likely to pass in 2024/25) will overhaul the private rental sector. Key changes include: abolishing “Section 21” no-fault evictions, making tenancies open-ended, and strengthening tenant rights. While good for tenant security, landlords perceive this as tilting the balance against them. Coupled with other changes (e.g. phased reduction of mortgage interest tax relief since 2017, additional licensing schemes, proposed minimum standards), many small landlords are exiting the market knightfrank.com. As noted, new rental listings are down sharply vs pre-2019 knightfrank.com, partly due to landlords selling. This exodus constrains rental supply and ironically pushes rents higher knightfrank.com knightfrank.com – the very outcome opposite to what tenant groups desire. London, with a huge private rental sector, is feeling this acutely. The Mayor of London has lobbied for rent controls, but currently the national government opposes that, so it’s unlikely before 2025’s general election. The energy efficiency (MEES) regulations also pressure landlords: by 2025/2028 (proposed deadlines), rentals will need EPC rating C or better, and by 2030 all rented properties (commercial too) must be EPC B or above simmons-simmons.com mfsuk.com. Currently, about 80% of London’s offices do NOT meet an EPC B standard zenturaworkspace.co.uk, and a large share of older flats/houses also need upgrades. This could render many properties unrentable if not improved, prompting further sales or costly renovations. Expect to see green retrofit costs becoming a significant factor in valuations – buildings that can’t economically reach required efficiency may get marked down or converted to other uses.
• Planning Policy Changes: On planning, the new London Plan (discussed) signals a more pro-development stance, but its success hinges on local implementation. The Mayor is also pushing “Small Sites” policies to encourage gentle densification of suburban plots (like building more infill homes, mews houses, etc.). Nationally, the government tried to introduce zoning-style planning reform in 2020 which met resistance; a watered-down approach now gives local areas more say but also more responsibility to meet targets. There’s a new Permitted Development Rights (PDR) expansion: commercial to residential conversions have been made easier since 2021 under Class MA PDR (though London boroughs often use Article 4 directions to exempt key areas). PDR has delivered thousands of new flats (often smaller, entry-level units) by converting offices – this trend will continue, especially with surplus office retail space in some town centers. The quality of some conversions is debated, hence regulators might refine standards (e.g. minimum space and light requirements now apply after some sub-par outcomes). Planning rules also now allow upward extensions on blocks and redevelopment of vacant commercial buildings into homes with a faster track, which could marginally increase housing supply.

Another planning realm is height and density. The City of London approved multiple tall towers in the Eastern Cluster (though a couple got delayed). Westminster historically restricts tall buildings, but we see exceptions like 1 Marble Arch (M&S redevelopment) getting approval after initially being blocked for heritage – the compromise allowed a contemporary design to replace the 1920s M&S building, showing planning may increasingly favor redevelopment over preservation in cases where economic benefits are strong timeout.com. Still, London’s protected views and heritage mean height will remain a contentious issue.

• Taxation of Development and Ownership: On the development side, the Community Infrastructure Levy (CIL) and Section 106 agreements are how developers contribute to local infrastructure and affordable housing. There are talks of simplifying this with a new Infrastructure Levy, but no concrete change yet. If implemented, it might be a flat tax on final value, which could alter economics of projects (some could pay less, some more compared to the current system). For owners, an upcoming issue is Council Tax reform: some argue council tax is regressive (a mansion in Chelsea pays only a few times more than a small flat in Peckham). There’s speculation that after the 2025 election, reforms or additional levies (like a higher rate for empty homes or second homes) could be introduced in London to encourage better use of housing stock. Already, boroughs can charge 100% premium on homes empty over 2 years; from 2024 they can charge on homes empty >1 year and a 100% premium on second homes (if they adopt these powers). This could marginally push owners of rarely used “lockup” homes (often foreign-owned pieds-à-terre) to rent or sell them.
• Commercial Sector Regulations: For commercial property, aside from EPC/MEES, there’s evolving policy on office-to-resi conversions and business rates. Business rates (a property tax on commercial real estate) were revalued in 2023, shifting some burden: central London retail and office saw rateable values drop (because rents fell in pandemic), whereas industrial saw increases. The government has frozen the multiplier for now, providing relief. Long-term, they discuss rates reform to support high streets (like more frequent revaluations, reliefs for improvements). Additionally, post-Brexit financial rules might impact demand for City offices – e.g., if deregulation (or divergence from EU) boosts banking profits, banks may expand London presence (positive), but if more euro clearing shifts to EU, that’s a negative. However, early signs show London keeping its financial clout, remaining Europe’s top finance hub, which bodes well for office demand.

In summary, London’s real estate stakeholders must navigate an environment of tightening tax/regulatory screws on investors and landlords, paired with attempts to liberalize planning to boost supply. For residential, policies are increasingly pro-tenant and aimed at extracting more tax from high-end owners. This could cool some speculative demand at the top end, but underlying market forces (supply shortage) likely dominate in the medium term. For commercial, ESG and other regulations will prompt significant capital expenditure but also create opportunities (e.g., refurb specialists). Planning reforms could, if realized, gradually ease the housing crunch by enabling more development – though likely not enough to fully close the gap. Overall, regulation is pushing the market towards higher quality, more sustainable, and more transparent practices, which in the long run can enhance London’s appeal, even if there are short-term adjustment pains.

International Buyer Influence and Economic Factors

London’s property market has a global reputation, and international factors heavily influence it – from foreign buyer activity to macroeconomic trends and currency movements. Here we examine how these elements are playing out in 2025 and beyond:

Foreign Buyer Trends: International buyers have long been a key segment, especially in prime London. Recent data shows some shifts in the composition of overseas purchasers:

• Buyers from Asia (notably Hong Kong, China, Singapore, India) have increased their presence. In 2024, Hong Kong-based buyers were the single largest group of overseas homebuyers in London, making up 13.5% of foreign purchases benhams.com. Singaporean, Chinese, and Malaysian investors also collectively make up a significant share benhams.com. The UK’s offer of residency to Hong Kong BN(O) holders since 2021 has driven a wave of HK families relocating and buying homes (often in outer boroughs or new builds).
• Middle Eastern and African high-net-worth buyers remain active in super-prime segments, looking for secure assets amidst regional instability. Gulf buyers (from UAE, Saudi, Qatar) have been bolstered by high oil prices in 2022–23, giving them more capital to invest abroad. We see continued acquisition of landmark assets (e.g. a Qatari fund buying into London’s Canary Wharf group, Saudi investors in luxury apartments, etc.). Additionally, in the West End office market, sovereign wealth funds from the Middle East have been making big moves (e.g. Abu Dhabi in Broadgate, Norges Bank from Norway also investing heavily) knightfrank.com knightfrank.com.
• European buyers had pulled back somewhat post-Brexit (and due to weaker currencies like EUR vs GBP). London saw a 9% decline in European buyers after Brexit benhams.com. However, some are returning, especially the ultra-wealthy from countries with wealth taxes or instability (e.g. some French, Italian families). The easing of travel post-Covid and relative political stability in UK (despite economic issues) might renew London’s allure as a diversification play for EU investors.
• North American buyers: A notable trend is the rise of U.S. buyers in London residential. The strong dollar in 2022 made London property ~20% cheaper in USD terms, and although GBP has recovered some ground, US buyers still find value. Major US private equity and institutional funds are already huge in commercial property (as noted, record investment in 2024 bpf.org.uk). On the residential side, Americans have even overtaken some traditional groups in PCL purchases recently (partly due to some relocating finance professionals and partly the dollar strength story).
• Russian and sanctioned individuals: Historically, Russians were big players in high-end London (earning it nicknames like “Londongrad”). Since sanctions in 2022 (after the Ukraine invasion), that faucet has largely closed. Many oligarch-owned properties are frozen or being sold quietly. The absence of new Russian money has been one factor in softer demand at the top end, but other nationalities have somewhat filled the gap.

International Influence on Demand: Foreign buyers influence certain segments disproportionately:

• In new-build developments, especially high rises in inner London, overseas investors often buy a large share of units (sometimes 50%+ in prime schemes) either as rentals or pied-à-terres. For example, many Nine Elms condos were sold to Asians; Canary Wharf and City Road (Shoreditch) towers also saw strong Asia/Middle East demand. If those international flows slow, developers might have to adjust pricing or target the domestic market more.
• In the ultra-prime housing market (£10m+), foreigners account for the majority of transactions. So prime townhouse and penthouse prices are very attuned to global geopolitical and economic shifts. Safe-haven flows (when there’s turmoil abroad, London gets influx) versus policy deterrents (taxes, transparency laws) can swing this sub-market.
• Student housing and rental demand: London’s many universities attract tens of thousands of foreign students each year, who impact both the rental market (many rent privately) and the investment market (some wealthy families buy flats for their student children). For instance, Chinese student numbers had grown substantially pre-pandemic; any changes (like stricter Chinese capital controls or UK-China relations) could affect demand for small flats in areas near universities (e.g. around UCL, Imperial, LSE, etc.). Recently, Indian student numbers have surged (overtaking Chinese in UK in 2022), which may also translate into housing demand.

Economic Factors:

• Interest Rates and Inflation: As covered earlier, interest rates are a key factor. The Bank of England’s base rate is expected to decline gradually from 5% (2023 peak) towards perhaps ~3% by 2026, according to market pricing knightfrank.com. High inflation that plagued 2022 (10%+) is subsiding towards 3–4%. Lower inflation and rates improve buyer affordability and investor yield spreads, benefiting real estate. However, if inflation proves sticky or rates stay higher for longer, that could constrain price growth. The OBR’s benign scenario of ~2.5% annual house price growth assumes no major rate shock simplybusiness.co.uk.
• UK Economic Growth: London’s property health is tied to the broader economy, especially employment in key sectors. The outlook is for modest GDP growth (~1% in 2025, per Oxford Economics knightfrank.com), avoiding recession. London’s economy tends to outperform the UK average due to its concentration in high-growth sectors (tech, finance, professional services). Job growth projections for London remain positive; in fact, some forecast an additional 240,000 office jobs in inner London by 2030 (though offset by remote work to some degree) bisnow.com. As long as job creation continues and wages rise, demand for housing (both to buy and rent) should remain solid. Unemployment is very low (~4% in London), and real earnings are growing again as inflation recedes theguardian.com, which supports housing affordability at the margin.
• Currency Values: The value of the British pound influences international investment. After a turbulent fall to near parity with USD in 2022, the pound stabilized in 2023–24 around $1.25–1.30. A weaker pound historically boosts foreign buyer interest, as they effectively get a discount. If the pound were to weaken again (e.g., due to any market concerns about UK fiscal health or a dovish Bank of England), expect a surge of overseas buying taking advantage. Conversely, a significantly stronger pound could dampen some foreign demand. Many analysts see GBP likely range-bound, but political events (like a 2025 change of government) could have an impact. So far, markets seem comfortable with a likely Labour win, so no major currency swing is expected from that alone.
• Global Economic Health: London is a global hub, so global economic conditions feed in. Positive scenario: If we see a soft landing globally – the US avoids recession, China stimulates growth, Europe stabilizes – then investor confidence and wealth creation will be high, benefiting London property as an investment destination. Cross-border capital flows would remain strong. Negative scenario: If global growth stumbles (some foresee slower Chinese growth, EU energy issues, or a US downturn), London could see reduced demand in commercial leasing (if multinationals cut back) and possibly more cautious investor sentiment. However, often in global turbulence, London real estate is seen as a safe haven, especially by international investors looking to diversify risk knightfrank.com. For instance, ongoing geopolitical tensions (war in Ukraine, US-China rivalry) can actually increase London’s relative attractiveness due to the UK’s stability. There are already signs of this: Knight Frank noted that given “tariff-induced uncertainty” in the US-China sphere, the UK is positioned as “stable by default”, attracting overseas buyers and tenants seeking a safe haven knightfrank.com.
• Political Outlook: The domestic political environment also matters. A general election is due by 2025; if Labour comes to power (as polls suggest), they have pledged to prioritize housebuilding (target 300k homes/yr nationally, which could mean more support for London development) and to give London more autonomy on things like affordable housing. Labour has also floated ideas like a landlord register, perhaps some form of rent control for extreme cases, and a potential reform of council tax. These could have mixed impacts: e.g. more housebuilding efforts could moderate prices long-term but are hard to achieve; any rent control could dampen investment in rentals. Meanwhile, Labour’s stance on non-doms we’ve seen (they support abolition, which is happening) and on overseas buyers (they mentioned restricting sales of new homes off-plan to foreigners, to give locals first dibs). If implemented, that might alter how developers market projects (maybe requiring domestic marketing first). However, such rules might be symbolic as enforcement is tricky. Investors will keep an eye on any tax changes a new government might implement – e.g., an increase in Capital Gains Tax or changes to inheritance tax on property (Labour considered treating some capital gains as income). These could marginally affect investor appetite.
• Brexit and London’s Global Role: By 2025, Brexit is a done deal but its effects continue to unfold. London lost some EU-related business (like banking jobs to Paris/Frankfurt), but retained a strong global finance role. The UK’s new trade deals (e.g., a UK-US mini deal on tariff reductions in some industries knightfrank.com) and focus on sectors like fintech, life sciences, and creative industries will shape demand for commercial space. If London continues to innovate and attract talent (via new visa schemes for skilled workers, etc.), its property market will benefit. There is some concern that stricter post-Brexit immigration may reduce population growth, but the government has actually expanded visas to India, Hong Kong, etc., so London’s international population is still growing. The city’s universities, cultural scene, rule of law, and timezone make it unique – no other European city has yet dethroned it for international property investors.

In summary, international and economic factors present both upside and downside for London real estate:

• Upsides: Safe-haven demand remains a big plus – in times of uncertainty elsewhere, London sees capital inflows. A diverse mix of foreign buyers (now more from Asia and Americas) provides a broad base of support. The prospect of lower interest rates and steady economic growth by 2025–27 should bolster both domestic and overseas demand. A relatively weak pound keeps London competitively priced on the world stage, and global ultra-rich individuals still view London as a must-have city in their portfolio (for lifestyle, education, business networking).
• Downsides: Higher taxes and transparency (end of non-dom, foreign buyer surcharge, register of overseas property owners) might dampen some speculative or opaque investment. Geopolitical conflicts can cut both ways – while some flee to safety, others face sanctions or difficulties moving money (e.g., Chinese capital controls could limit middle-class Chinese buying abroad, though wealthy usually find a way). If the global economy hit a major recession, London property would not be immune – corporate leasing would fall, unemployment could rise, and some forced sales might occur (though severe price drops would likely be mitigated by lack of oversupply).

On balance, London’s status as an international nexus for capital and people is intact and arguably strengthened after navigating Brexit and the pandemic. As one indicator, a recent study confirmed London attracted more commercial property investment in the past decade than any city globally (US$132bn) eliteagent.com, beating New York and Paris – a testament to its enduring appeal. Barring unforeseen shocks, London will likely continue to be a magnet for global real estate investors and a barometer of luxury property sentiment, even as it adapts to new global realities in the latter 2020s.

Conclusion and Outlook to 2030

London’s real estate market in 2025 is a picture of measured optimism amid structural challenges. The pandemic and economic shocks have been absorbed; what emerges is a market rebalancing to new fundamentals – slightly higher interest rates, higher building standards, and changed work habits – yet still underpinned by the age-old allure of London.

Key takeaways and outlook for the rest of the decade:

• Residential market: Expect a period of sustainable growth rather than boom. Price forecasts converge around ~2–4% annual rises for London homes in the coming years simplybusiness.co.uk savills.co.uk. This implies house prices might grow roughly in line with incomes, potentially improving affordability a bit (after inflation adjustment). By 2030, London average house prices could be on the order of £600–£650k (up from ~£540k today), and the UK average near £300k simplybusiness.co.uk. The housing shortage will persist, so significant price corrections seem unlikely absent a major external shock. Government efforts to boost supply (88k homes/year target) will, if anything, take years to materialize – meaning the imbalance will continue to support the market. Locations with the most new development (East and Outer London) may see more moderate price growth due to added supply, but will still benefit from improved infrastructure. Prime Central London is a wildcard – having lagged, it could outperform later if global buyers return in force, though tax changes temper the upside. Overall, housing in London remains a solid long-term bet, with the rent-versus-buy equation likely motivating many to purchase if they can (since rents are so high, buying becomes attractive when rates ease).
• Commercial market: The 2020s are a decade of transformation. By 2030, London’s offices will be fewer but better – many inefficient buildings will be withdrawn or retrofitted, while shiny new towers redefine the skyline (the City’s “2025 cluster” of tall buildings will be largely up by then, barring delays). The push for carbon neutrality and high-tech, collaborative spaces will make London’s prime offices among the world’s most advanced – and tenants will pay top dollar (or pound) for them. Retail will likely stabilize into a smaller footprint: by 2030, more high streets will have morphed into mixed-use leisure-residential streets. Industrial land will remain gold dust – we may see the UK’s first multi-story urban warehouses in London, and possibly logistics hubs integrated with new rail freight schemes to address sustainability. Investment in London commercial property should remain robust; even if yields globally compress, London’s transparency and liquidity will attract funds. Sectors like life sciences, media studios, data centers around London will grow significantly, creating new asset classes at scale. The City’s financial sector by 2030 may have evolved to incorporate more fintech and green finance, but it’s unlikely to have ceded its crown, ensuring steady demand for high-end commercial space.
• Rentals and living patterns: London’s rental market might see some structural shifts by 2030. Build-to-Rent could become a much larger part of the market (perhaps 30-40% of new units delivered), giving renters more options in professionally managed blocks, albeit at market rents. If institutional landlords grow, that could stabilize rent growth somewhat (as they tend to prefer occupancy over maximizing rent at all costs). However, unless there is a policy of rent caps, renting will continue to be expensive. On the social side, we might see more multi-generational households if affordability stays tough – a trend already observed, with adult children staying longer with parents or families pooling resources. There is also a possibility that by 2030, some form of rent regulation could come to London (especially if political power shifts and rental pressures remain high). That would be a game-changer, though any controls would likely be mild (e.g. limiting increase rates within tenancies) to avoid investor flight.
• Infrastructure dividends: Many current projects will bear fruit by 2030. The full impact of the Elizabeth Line will be reflected in regenerated stations and new businesses along its route. If HS2 is running to Old Oak Common by then, West London will have a huge new nexus, possibly spurring a “Canary Wharf of the West”. The Bakerloo extension, if commenced, will have boosted SE London land values even if not finished. Technological infrastructure like 5G/6G networks and ubiquitous fiber broadband will make more distributed work possible, but London’s draw as a place for face-to-face interaction will still pack the trains each morning (perhaps in a hybrid rhythm). In short, connectivity improvements will enlarge London’s functional map, making previously marginal areas integral parts of the metropolis.
• Risks: The outlook isn’t without risks. Globally, if interest rates were to rise sharply again (e.g., due to a resurgence of inflation or fiscal crises), real estate would come under pressure. Locally, political risk – say, a government imposing heavy property taxes or failing to manage debt leading to economic turmoil – could hit confidence. Climate change is another risk: London must invest in flood defences (Thames Barrier upgrade by 2070s, etc.) to remain safe; any climate event or perception of increased risk could affect certain areas (waterfront properties, for instance, might face higher insurance). So far, climate risk is managed, and indeed green buildings command premiums, but it’s an evolving factor. Another consideration is the future of work: if remote work tech leaps (virtual reality offices?) and more firms embrace global remote teams, office demand might stagnate. However, human nature and past trends suggest a counter-force of people wanting to congregate in creative cities, and London is the premier example of that in Europe.

To conclude, London’s real estate market heading toward 2030 appears set for healthy, albeit more measured growth, propelled by enduring demand and constrained supply. It will continue to be a place of opportunity: for investors seeking stable returns, for developers innovating to meet housing needs, and for millions of individuals and families staking their future in the UK’s capital. The city’s ability to reinvent – through infrastructure, new industries, and cultural vitality – bodes well for its property sector. While challenges around affordability and supply require concerted action, the initiatives in motion give hope that London can evolve to remain vibrant and inclusive. For stakeholders, the key will be to adapt with the trends: invest in quality and sustainability, leverage areas of growth, and stay attuned to policy shifts. If that is done, the phrase “Safe as houses” will likely hold true for London real estate in 2025 and beyond.

Sources:

• Knight Frank Research – UK Housing Market Forecast, May 2025 knightfrank.com knightfrank.com knightfrank.com knightfrank.com
• Knight Frank Research – UK Real Estate Investment (Q1 2025) knightfrank.com knightfrank.com knightfrank.com
• The Guardian – UK house prices stagnant in March as London struggles, Apr 2025 theguardian.com theguardian.com
• Savills Market Forecasts – Five-Year House Price Predictions (Dec 2024) savills.co.uk savills.co.uk
• Simply Business – House price predictions 2025–2030 (OBR and Savills insights) simplybusiness.co.uk simplybusiness.co.uk
• Benham & Reeves – Foreign investment in London’s property market, Mar 2025 benhams.com benhams.com benhams.com
• British Property Federation/CoStar – Overseas Investment Report 2024 bpf.org.uk bpf.org.uk
• Zoopla Rental Market Report – June 2025 zoopla.co.uk zoopla.co.uk zoopla.co.uk
• ONS – Private rent and house prices, UK: Jan & June 2025 ons.gov.uk theindependentlandlord.com
• Time Out – 8 Huge Developments That Will Change London in 2025 timeout.com timeout.com
• Savills Blog – Towards a new London Plan (880k homes in 10 years), May 2025 savills.com savills.com
• Deloitte – UK Spring Budget 2025: Reform of Non-Dom Tax Regime taxscape.deloitte.com taxscape.deloitte.com
• GOV.UK – SDLT Surcharge for Non-Residents (Policy from Apr 2021) galliardhomes.com