← Blog · 9 August 2026 · By Aadityaa Mehrotra

London house price trends: every postcode, on the sold record

Adjusted for inflation, the typical London district is 24% below its own best year. The most expensive third of districts peaked in 2017 and the cheapest in 2021, and the expensive third has fallen roughly twice as far.

Terraced houses on Delancey Street, Camden Town, London — Photo: David Howard, CC BY-SA 2.0, via Wikimedia Commons

A single figure for a city of nine million averages over very different markets. Splitting London into the 128 postcode districts with a long enough run of sales to track, and converting every year into today's money, separates them.

Every one of the 128 districts is past its best year

Each district is measured against its own benchmark: the year its typical sale was worth the most in today's money. On that basis the median London district sits 24% below its peak, which for that district was 2019.

Cash prices in most of these districts are higher than they were ten years ago. The fall is a real-terms one: nominal prices held roughly level through several years of high inflation, which is arithmetically a decline in value.

Eight districts, each against its own best year. A line ending well below the dashes has lost the most ground.

Eight districts against their own best year, in today's money · the figure on the right is how far below that year the district sits now

dashed horizontal line: that district's own best yeardashed stretch of a line: too few sales to price those yearsall figures adjusted for inflation; cash prices in most of these districts are still higher than ten years ago

The shapes differ. Some districts rose to a sharp peak and fell away from it. Others have a long plateau, where the loss accumulated over several years rather than in any one of them.

The more expensive the district, the harder the fall

Sorting every district by its rate per square metre and splitting the list into three equal groups gives three tiers. They start hundreds of thousands of pounds apart, so each is indexed to 100 at the start: the comparison is between shapes, not levels.

London's districts split into three equal groups by price per square metre · each line is that group's typical sale in today's money, set to 100 in 2005

all three lines start at 100 in 2005dot: that line's highest point

All three rose for about a decade. They separate at the far end. The most expensive tier peaked in 2017 and is 27% below that high; the cheapest peaked in 2021 and is 16% below its own. Peak year and depth of fall both track the price tier.

The same gradient holds district by district. Each dot is one district, placed at the year it peaked.

When each district's typical price peaked · one dot per district, stacked where several peaked in the same year

one dot per district, at the year it peakedaverage peak year

Price tier	Typical fall from its own peak	Average peak year
most expensive	-32.5%	2018
middle	-23.3%	2018
least expensive	-18.2%	2020

The turn moved outwards from the centre, roughly 1.1 years between the most expensive tier's average peak and the least expensive tier's.

The extremes

Furthest below its peak	Peak	Now vs peak	Closest to its peak	Peak	Now vs peak
SW1H	2022	-68%	E11	2018	-8%
W1T	2018	-55%	SE28	2017	-8%
SW1P	2016	-53%	E4	2021	-9%
SW1W	2022	-49%	SE2	2017	-10%
E1	2019	-46%	E6	2021	-11%

Treat the sharpest individual falls with care. Central districts like SW1H sell small numbers of very expensive homes, so a single quiet year moves the median a long way. The tier gradient above is the more robust finding: it rests on dozens of districts rather than one.

London by district · median sold price, shaded

Open the sold prices map →

Written by Aadityaa Mehrotra.