Flats for Sale in London 2026: Prices by Size
The average flat in London costs £427,310. According to HM Land Registry's August 2026 data, flat prices fell 5% over the year and are well below the £554,430 average for all homes in the city. The borough is the biggest price factor: the average flat costs about £948,000 in Kensington and Chelsea, but around £246,000 in Bexley and Barking and Dagenham. In the new developments on our site, studios start from $515,000 (about £387,000) and one-bedroom flats from $405,000. Below you will find flat prices by borough and size, leasehold costs and the tax overseas buyers pay.
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London Flat Prices by Property Type
| Property type | London average (August 2026) | Annual change |
|---|---|---|
| Flat / maisonette | £427,310 | -5.0% |
| Terraced | £648,650 | +0.1% |
| Semi-detached | £730,580 | +1.8% |
| Detached | £1,164,439 | +1.8% |
| All properties | £554,430 | -2.2% |
House prices in London are holding steady, and the fall comes entirely from flats. According to the ONS, flats account for half of all property sales in the city, so falling flat prices pull the London average down too. For buyers, this means a cheaper entry price than in 2025. For the overall picture covering both houses and flats, see our London house prices page.
London Flat Prices by Number of Bedrooms
| Flat type | Price range | Median price | Size |
|---|---|---|---|
| Studio | $515,000 – $870,000 (≈ £387,000 – £654,000) | about $640,000 (≈ £481,000) | 39–47 m² |
| 1 bedroom | $405,000 – $3.49 million (≈ £305,000 – £2.6 million) | about $715,000 (≈ £538,000) | 38–108 m² |
| 2 bedrooms | $830,000 – $3.24 million (≈ £624,000 – £2.4 million) | about $2.4 million | 65–93 m² |
| 3 bedrooms and more | $5.9 – $33 million | varies widely by project | 190–485 m² |
The figures are the prices of London flats for sale on our site as of October 2026. Listings are priced in US dollars; sterling equivalents are rounded at about $1.33 to the pound. New developments usually quote a "starting price" for the smallest unit. Most new London developments focus on studios and one-bedroom flats, while two-bedroom and larger flats are mostly found in central schemes in Chelsea, Battersea, Mayfair and around the City.
London Flat Prices by Borough
| Borough | Average flat price | Annual change |
|---|---|---|
| Kensington and Chelsea | £947,855 | -15.3% |
| Westminster | £784,694 | -15.1% |
| City of London | £726,060 | -14.6% |
| Camden | £656,955 | -11.4% |
| Hammersmith and Fulham | £579,711 | -6.4% |
| Islington | £542,886 | -9.1% |
| Wandsworth | £532,028 | -6.5% |
| Southwark | £466,671 | -2.9% |
| Lambeth | £441,815 | -7.2% |
| Tower Hamlets | £429,851 | -13.6% |
| Ealing | £410,282 | 0.0% |
| Kingston upon Thames | £368,099 | +2.5% |
| Hounslow | £353,291 | -3.8% |
| Greenwich | £350,603 | -3.9% |
| Newham | £320,546 | -6.6% |
| Barking and Dagenham | £245,845 | +2.3% |
| Bexley | £245,833 | -0.8% |
Source: HM Land Registry, UK House Price Index, August 2026 (flat / maisonette average). The sharpest falls are in the centre: flat prices in Kensington and Chelsea, Westminster and the City of London are down 14–15% in a year, and in Tower Hamlets, home to Canary Wharf, by 13.6%. Outer boroughs are more stable, and Kingston upon Thames and Barking and Dagenham are the two boroughs where flat prices are rising. The more affordable developments on our site are also concentrated in outer boroughs such as Greenwich (Woolwich, Kidbrooke), Hounslow (Brentford), Ealing and Barking and Dagenham.
New-Build or Resale Flat?
The average price of a new-build home in London was £475,340 in June 2026, down 6.5% in a year; this figure covers both houses and flats. New-build flats usually offer high energy efficiency and shared facilities such as a gym and concierge, and off-plan purchases are typically paid in stages over the construction period. Resale flats are often cheaper per square metre, but older buildings can bring maintenance and renovation costs. All the listings on our site are new or recently completed developments.
Leasehold, Service Charge and Ground Rent
Almost all flats in London are sold as leasehold. You buy the flat under a long lease, while the building and the land belong to a separate freeholder. The lease runs for a fixed term, so always check how many years remain before buying. Each year the owner pays a service charge covering the building's maintenance, cleaning, insurance and shared areas; it varies by building and is higher in developments with more facilities. Ground rent is an annual rent paid to the freeholder. In England, new long residential leases granted since 30 June 2022 are limited by law to a "peppercorn" ground rent, which is effectively zero. Older leases may still carry a ground rent.
How Much Tax Do Overseas Buyers Pay on a London Flat?
There are no restrictions on foreigners buying flats in England. The buyer pays Stamp Duty Land Tax (SDLT): 0% up to £125,000, 2% from £125,001 to £250,000 and 5% from £250,001 to £925,000. Anyone who has spent fewer than 183 days in the UK in the 12 months before the purchase pays an extra 2% on every band, and a buyer who owns a home worth £40,000 or more anywhere in the world, for example in Turkey, pays a further 5% on every band. For example, on a £427,000 flat, the London average, standard SDLT is £11,350. For a non-resident buyer it rises to £19,890, and to £41,240 if they also own another home. For choosing a solicitor, registering the title and the payment steps, see our London home buying process guide, and for a comparison with the rest of the country see our UK house prices page.
Frequently Asked Questions
How much does an average flat cost in London?
According to HM Land Registry's August 2026 data, the average flat in London costs £427,310, down 5% in a year.
Which London borough has the cheapest flats?
Bexley and Barking and Dagenham have the lowest average flat prices at about £246,000. Havering and Croydon are also below £260,000.
How much is a one-bedroom flat in London?
In the new developments on our site, one-bedroom flats start from $405,000 (about £305,000), with a median of about $715,000. In central areas such as Bayswater, prices can exceed $3 million.
Can foreigners buy a flat in London?
Yes, there are no restrictions. However, non-residents pay an extra 2% on top of standard SDLT, and buyers who own another home pay a further 5%. Buying a flat does not grant residency.
What are the annual costs of owning a flat in London?
The building's service charge, council tax paid to the local council and, where applicable, ground rent. New leases granted since 30 June 2022 have an effectively zero ground rent.
Flats for Sale in London
Below you can find flats for sale that we have selected from new developments in London. Each listing includes location, size, number of bedrooms and completion details. For all listings including houses, see our London homes for sale page, and contact our advisor about any development you are interested in.
