Canary Wharf is positioned between the areas of Poplar and the Isle of Dogs in the East London borough of Tower Hamlets. It is one of the world's main financial centres and is home to an array of high-rise structures including One Canada Square, which is the fourth tallest building in the UK.
In 2021 the average price of a property in Canary Wharf was £624,750, making the area notably more expensive than the overall average across the borough of Tower Hamlets, which recorded an average price of £585,534. Canary Wharf is also markedly more expensive than Bromley by Bow, where the average property price was £353,861. Conversely Canary Wharf is notably more affordable than in Spitalfields, where the average price was £1,110,585 during the same period.
Flats accounted for most of the properties sold in Canary Wharf in 2021, fetching an average overall price of £620,697. Terraced properties in the area reached a slightly higher average price of £665,133 and semi-detached properties in Canary Wharf sold for £768,812 on average.
Overall property prices in Canary Wharf remained relatively consistent throughout 2020 and 2021. However since 2017, when the average was £557,366, property prices have increased in the area by 12%.
What is living in Canary Wharf like?
There are numerous residential tower blocks in Canary Wharf including Newfoundland, South Quay Plaza and Landmark Pinnacle, which is Europe's tallest residential building. The area also boasts approximately 16,000,000 square feet of retail and office space. It is home to the European or global headquarters of an array of notable media organisations, professional services and banks including Thomson Reuters, JPMorgan and Barclays. More than 100,000 people work in Canary Wharf, making it a busy area during the week.
Despite being in such a bustling central location, Canary Wharf benefits from numerous open spaces including Cabot Square, Westferry Circus and Canada Square. There are also a handful of leisure activities on offer including two multiplex cinemas, a public library and two marinas, which are owned by the Canal & River Trust.
Although getting around by car might not be the best option in Canary Wharf, due to both its central location and position within the ULEZ zone, the area benefits from an extensive cycling infrastructure. The London part of the NCR 1 runs between Greenwich Foot Tunnel and Enfield Lock, via Tottenham, Mile End and Canary Wharf, but there are many more routes besides this one for cyclists to enjoy.
Living in Canary Wharf pros and cons
Pro: Canary Wharf has numerous open spaces
During much of the year Canada Square is covered in grass and offers a small slice of greenery amongst all the skyscrapers. During the winter months it is transformed into an ice rink bringing an additional element of festive cheer to one of the world's most important financial and business districts. Cabot Square is the largest of all Canary Wharf's squares and contains several fountains, many of which are surrounded by established trees.
Con: Canary Wharf is located within the ULEZ Zone
Designed to reduce air pollution in the city, the ULEZ zone requires drivers of all vehicles that don't meet emissions standards to pay a daily £12.50 charge. This cost can quickly add up so it is important to factor it into your budget if you're thinking about moving to the area.
Pro: Canary Wharf has excellent transport connections
As one of the city's most important business areas and its central location, Canary Wharf is served by an array of city, regional, national and international links. The Docklands Light Railway (DLR) stops at West India Quay, Heron Quays and Canary Wharf offering access to the likes of Bank, Stratford, Lewisham and Woolwich. Canary Wharf station is located on the Jubilee line offering services eastbound to Stratford and westbound to the West End. Additionally the Crossrail Elizabeth Line will call at Canary Wharf when it opens, providing direct connections to the City of London, Paddington and Liverpool Street.
There are numerous major roads in the Canary Wharf area including the A12 which starts in Blackwall and heads towards Stratford, the A13 to Limehouse, Aldgate, Barking and Southend, and the A102 Blackwall Tunnel which carries traffic to Greenwich and an array of destinations in the county of Kent. Excellent road connectivity means that there are numerous bus routes serving Canary Wharf including the 135 which runs to Liverpool Street, and the D8 which goes to Stratford.
Its location on the river means that Riverboat services are easily accessible including the RB6 to Putney, the RB1X to Westminster and the RB4 to Nelson Dock. Additionally London City Airport is just three miles away and can be accessed with ease on the DLR.
Is Canary Wharf a safe place to live?
Between January 2020 and December 2021 there were 3,230 criminal incidents recorded in Canary Wharf. More than 1,000 of those reports related to cases of theft and a further 944 were categorised as violent crimes. There were also 248 vehicle offences, 230 cases of arson and criminal damage, and 214 burglaries.
Crime in the area fell sharply from February to March 2020 and remained low until July and August when levels began to rise again. This can largely be attributed to Covid-19 related lockdown restrictions. Crime throughout 2021 was generally notably higher than in 2020, reaching a high in October 2021 when 171 incidents were reported.
In November 2021 the area saw 26 reports of harassment and 19 reports of violent crime. During the same period, 39 crimes per 1,000 residents occurred in Canary Wharf. This is significantly higher than the 10 crimes per 1,000 residents recorded across the borough of Tower Hamlets, and the 8 crimes per 1,000 residents recorded across the wider London area.
There were several hotspots in the Canary Wharf area for incidents of harassment, including around Canary Wharf Shopping Centre, Cuba Street, and Janet Street. These areas were also hotspots for reports of violent crime.
Which celebrities live in Canary Wharf?
Canary Wharf has undergone somewhat of a transformation in recent years, and it is no longer solely comprised of empty office blocks. This, of course, means that the area has become home to a number of famous faces and the wider borough of Tower Hamlets has seen an array of celebrities setting up home within its boundaries. In terms of Canary Wharf itself, it has become a bit of a favourite amongst actors with the likes of Robert De Niro making it his base whenever he's in the city.
Things to consider when moving to Canary Wharf
Although Canary Wharf may not initially seem like a particularly family-friendly area, there are numerous primary and secondary schools within a one mile radius of this major financial centre. These include the Culloden Primary School on Dee Street and St Saviour's Church of England Primary School on Christ Street, both of which have been rated as 'Outstanding' by Ofsted.
Although there are a handful of attractions in the area, including the Museum of London Docklands, Canary Wharf tends to be much busier during the week as it is a significant centre of employment. This is somewhat different to many other areas of the city and means it can often offer a slice of calm in the middle of the capital.