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The London property market has remained active in recent months, with a notable spike in property sale volume in March 2025 likely driven by changes in stamp duty rates. Median prices have shown steadiness alongside fluctuating monthly sale volumes, reflecting ongoing buyer interest. Compared to the previous two years, the market has seen consistent activity, with transaction counts in peak months such as March 2025 exceeding typical levels observed in 2023 and 2024.
The most recent median house price in London stood around £467,500 in May 2025, representing a moderate YoY increase compared to May 2024 figures. This suggests a steady upward trend in property values, with London maintaining its reputation as a high-value real estate market despite wider economic uncertainties. The YoY price growth underscores the continued demand for housing in the capital city.
Median house prices in London vary significantly by property type, with detached houses commanding the highest prices, often exceeding £700,000, while flats generally have lower median values around £376,000 to £400,000. Over the past year, detached and semi-detached houses have experienced stronger price growth compared to flats and terraced houses, reflecting buyer preference shifts towards suburban and spacious properties. This year-on-year dynamic highlights the diversity of London’s housing market and evolving buyer priorities.