Canary Wharf joins London’s £1m property elite as prime market becomes hyper-local

Investec’s 2026 Property Index reveals a growing fragmentation in London’s £1m-plus prime residential market, with buyer power rising and postcode-level dynamics driving sharp variations in price, discounts, and sales speed. Canary Wharf (E14) has emerged as a significant high-value location, with average prices reaching £1.33m and a per-square-foot cost climbing to £1,156. This marks its rise into London’s “premier league” of prime areas. Meanwhile, traditional upscale districts like Bayswater (W2), St John’s Wood (NW8), and Knightsbridge (SW7) saw discounts widen, some exceeding 14%, amid slower sales and increased listings. The number of £1m-plus homes listed in London rose 12% in 2025 to nearly 7,000, giving buyers more leverage and time to negotiate.

The Intermediary (30/01/2026)