What Does £1 Million Buy You in London’s Property Market (in Different Areas)?
In London real estate, £1 million sits at a curious intersection. It is a meaningful sum for most buyers and yet, in a city where prices have stretched dramatically in recent years, it buys markedly different things depending on where you look.
Understanding what £1 million buys in various corners of London reveals not just price differences but how lifestyle, location and outlook shape value. For some areas it still secures a generous family sized home. In others it opens the door to a refined pied a terre. In yet others it may represent a strategic entry point for long term investment.
Here is a snapshot of what £1 million commonly buys across distinct London neighbourhoods in 2026.
South West: Family Friendly and Well Connected
South West London remains one of the most desired sectors for families and professionals seeking space, green surroundings and strong transport links.
In areas such as Clapham, Balham or Wandsworth, £1 million typically secures a substantial three bedroom period conversion with generous reception rooms and outdoor space if you know where to look. These homes are rarely new builds. They are characterful, close to commons and set within well loved streets.
In slightly more suburban pockets closer to Wimbledon Village or Raynes Park, a similar budget might buy a four bedroom terraced house that requires some modernisation. These properties appeal to families planning to stay longer term and willing to invest in updating.
Overall, South West London delivers floor space and community amenity for £1 million that feels aligned with daily living rather than short stay convenience.
North London: Substantial Versatility
£1 million in North London typically buys a property with flexibility. In areas such as Highbury, Finsbury Park, Harringay or Crouch End, buyers frequently find spacious three bedroom apartments in well maintained period buildings. The ceilings are high, the rooms generous and journeys into the City straightforward.
Further north towards Muswell Hill and Alexandra Park, the same budget might secure a modern detached or semi detached house with a garden, ideal for families. These parts of North London offer a balance between urban energy and residential calm.
Buyers prioritising green space, independent schools and local lifestyle often see this budget as an opportunity to secure both scale and future growth potential.
West London: Central Access and Prestige
West London is harder territory for £1 million but still offers compelling opportunities.
In areas such as Acton, Chiswick’s fringe or Ealing Broadway, £1 million often buys a newly finished apartment in a well regarded development or a four bedroom house requiring improvement. The appeal here is connectivity — the Elizabeth line, local high streets and established neighbourhoods.
Closer to central and high value enclaves such as Notting Hill or Kensington, £1 million is more likely to secure a one or two bedroom apartment in a period conversion or a modern development. These homes are perfect for professionals, couples or investors seeking strong rental appeal.
In West London, value often leans toward location over space, particularly as you move closer to core London.
East London: Growth and Character
East London continues to be a hotspot for buyers targeting future growth.
With £1 million in areas such as Hackney, Dalston or Haggerston, buyers can often acquire a substantial lateral apartment with two or three bedrooms, generous entertaining space and period character. These properties blend contemporary finish with creative energy and proximity to independent dining, galleries and parks.
Further east into Walthamstow or Leytonstone, the same budget can stretch to family homes with gardens and room to extend subject to planning.
For buyers seeking early entry into areas with strong cultural identity and solid long term prospects, East London at this price point remains compelling.
South East London: Space and Community
In South East London, areas such as Greenwich, Blackheath and Brockley continue to draw buyers seeking community feel, excellent schools and easy access to central London.
With £1 million, buyers can often secure a generous three or even four bedroom house with garden, period detail and potential to enhance over time. These homes offer the kind of space that is increasingly rare closer to the centre.
Buyers here frequently prioritise lifestyle — local markets, river walks and quieter streets — without giving up convenient travel to work or leisure hubs.
South East Inner Suburbs: Strategic Entry
Moving further out into areas such as Bromley, Sevenoaks fringe and Crystal Palace, £1 million presents even stronger purchasing power.
Here it is realistic to find substantial detached family homes with gardens, multiple reception spaces and room to modernise. These locations remain well connected by rail to central London, making them attractive for commutes while also offering more space at the price point.
For families looking for long term ownership and lifestyle balance, these suburbs often represent serious value.
Central London: Refined Pied a Terre or Investment
In the heart of London, £1 million works differently. It is less about scale and more about location and quality of finish.
In areas such as Marylebone, Fitzrovia, Mayfair fringe or the South Bank, £1 million typically buys a chic one or two bedroom apartment, often in a period building or boutique residential development.
These properties appeal to executives with global mobility, city lovers who want an elegant base, or investors seeking strong rental demand. Floor space may be modest, but the location, outlook and cultural access often justify the pricing.
Central London buyers at this price point are buying connectivity and convenience as much as the property itself.
What Value Really Means in London
Across London, £1 million rarely buys the same thing twice. What it determines is context.
In outer zones you may secure the sort of house that invites long term family life. In inner zones you may secure refined city living with immediate access to culture, work and leisure.
Another lens on value is the potential for improvement. In areas with planning clarity, properties purchased at this price point may deliver additional long term growth through refurbishment or extension.
This aligns cost with strategy rather than short term perception.
Final Thought
London’s property market defies simple classification, but viewing £1 million through a regional lens reveals meaningful variation.
In South West and South East London the budget buys space and community.
In North and East London it buys versatility and future potential.
In West and Central London it buys access, prestige and lifestyle.
The smartest buyers understand that value is not just the square footage or number of rooms. It is how the property supports life, work and long term goals.
In London, £1 million is still a significant investment.
The question is what story it allows you to write.