An Exciting New Neighbourhood
In the last few years, we've witnessed an evolution of Canary Wharf from a working weekday corporate epicentre to a highly desirable - and liveable - central London neighbourhood. Exceptional retail, restaurant and leisure options, combined with varied transport connectivity and close proximity to some of the city's most prized green spaces have all contributed to a shift in the way residents perceive this part of East London.
The new Elizabeth Line station at Canary Wharf was handed over to TFL in early 2022; the 250 metre structure being located in a former dock. With trains every five minutes at peak times, travellers will be able to reach Paddington in 17 minutes, Heathrow in under 40 minutes and the City in less than 10 minutes.
Source: JLL Research / Land Registry / TFL / Dataloft
Canary Wharf in numbers
42%
Of homes in Canary Wharf are private rented compared with 25% London wide
26%
Of households in Canary Wharf are families
82,000
Number of people exiting at Canary Wharf underground station on a weekday (pre-pandemic)
10th busiest
Canary Wharf underground is one of the busiest Underground stations in London (2019)
534
Number of residents per restaurant, compared with London average of 1,023
154,000
Workday population of Canary Wharf
58,223
Number of people who call Canary Wharf home
940,000 sqft
of shops, restaurants, bar and amenities in Canary Wharf
Jubilee first for 4G
In 2020 the Jubilee Line between Westminster and Canning Town was the first to allow passengers 4G connectivity on train and platforms.
Canary Wharf future
The new Elizabeth Line station at Canary Wharf was handed over to TFL in early 2022, the 250 metre structure being located in a former dock. With trains every five minutes at peak times, travellers will be able to reach Paddington in 17 minutes, Heathrow in under 40 minutes and the City in less than 10 minutes.
Canary Wharf – sales market
Demand for homes in Canary Wharf has risen this year, with JLL seeing a 48% annual increase in the number of new home reservations in the year to March 2022.
Buyers in 2022 favour larger homes. The floor area of new properties sold by JLL in Canary Wharf this year averaged 745 square foot, up from 595 square foot in 2021. 54% of properties sold so far this year had two or more bedroom compared with just 28% in 2021.
2000
The year the first sale over £1 million was recorded in Canary Wharf
93%
of sales in the last 12 months were flats
8%
Of properties sold in the last 12 months achieved £1 million or more
61%
Of new developments in Canary Wharf have average asking prices of £1,000 per square foot or more
Average achieved prices and key events - Canary Wharf
Canary Wharf – rental market
Stock levels have not kept pace with demand across Canary Wharf in recent months, supporting growth in achieved rents. The number of properties on the market now compared with the same point a year ago has dropped by 30% in Canary Wharf.
Rents achieved across Canary Wharf in Q1 2022 averaged £506 per week. This increase has been driven in part by demand for high specification apartments in new developments. But increased demand this year compared with last has meant landlords have been able to increase rents on renewal too. Comparing achieved prices per units this year with the same period in 2021 shows rent achieved on renewal rose by an average of 13.1%.
27%
Of tenants are students
49%
Of tenants already lived locally, having moved less than a mile
20%
Annual increase in the number of viewings booked for rental properties in Canary Wharf
69%
Of tenants are under 30 years old.
Average rent achieved - Canary Wharf
