London real estate: how the capital's real estate market is changing
London continues to retain its status as one of the world's most expensive cities to buy and rent. The average property value here in 2023 was around £530,000, significantly higher than the national figure.
The main factors affecting the London market remain high demand from foreign investors, limited supply and the popularity of upmarket areas such as Kensington and Chelsea.
However, in recent years there has been an exodus of residents to the suburbs due to high prices and improved remote working conditions. This has had the effect of reducing demand for housing in central areas and increasing interest in suburban areas such as Croydon and Surrey.
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