Stretching across several boroughs on both the north and south banks of the river Thames, the Docklands area occupies a prime position in Tower Hamlets, Southwark, Greenwich, Newham and Lewisham. Docklands was once part of the world's largest port, the Port of London, however after the docks were closed the area quickly sunk into poverty and many people moved out leaving properties derelict.
In 2021 properties in Docklands reached an average price of £549,697, which is just below the overall £585,534 average seen across the borough of Tower Hamlets. It was however notably more expensive than the overall average in the borough of Newham, which sat at £440,835 during the same period.
Most properties sold in the Docklands area in 2021 were flats, which recorded an average price of £539,688. Terraced properties averaged £601,797 and semi-detached properties in the area fetched an average price of £662,712.
Property prices in Docklands remained fairly consistent between the beginning of 2020 and the end of 2021. Notably prices are currently up by 5% since 2019, when the average property fetched £525,627.
What is living in Docklands like?
In recent decades the desirability of Docklands has increased significantly, and the local population has doubled during the last three decades. Many of the historical warehouses and wharfs have long been demolished, however many of the areas docks still survive and some are used today as water sports centres and marinas.
As development in the area is ongoing, the Docklands landscape is always changing and evolving. There are numerous exciting plans in the pipeline, including construction of new skyscrapers at Canary Wharf, which only seek to add to the vibrant atmosphere in the area already. Existing luxury residential developments include 10 George Street, Sailmakers and Wardian London.
There is a strong restaurant, bar and caféscene comprised of both super laid back offerings and upmarket spaces which attract visitors from across the city. The general atmosphere and buzzing evening scene is ideal for young professionals, who will also benefit from the constantly improving transport links across the city.
While the area isn't necessarily renowned for its areas of green space, Millwall Park is a beautiful open space with a variety of facilities including football pitches, playgrounds, meadows and walkways. The park is also connected to Mudchute Urban Park and Farm, which spans more than 30 acres and is run by a community charity who do lots of excellent work with children and young people.
Living in Docklands pros and cons
Pro: Improving transport links
Although Docklands isn't particularly well known for its transport links, investment in the area over recent decades has seen many improvements. The DLR was extended in the mid-1990s and again in the late-1990s to serve more of the area, including Greenwich town centre and Lewisham. In the mid-2000s additional developments improved connectivity further, reaching the likes of London City Airport and Woolwich Arsenal. Additionally Canada Water station is on the Jubilee line, as is Canary Wharf, Canning Town and North Greenwich.
There are numerous potential transport improvements that could benefit the area, including Crossrail links to Heathrow, Reading and central London, and the extension of the DLR towards Dagenham.
The London bus services in the area are all prefixed with a 'D', and although they primarily serve Tower Hamlets, residents across Docklands benefit from easy access to Newham and Hackney.
Con: Docklands is within the ULEZ zone and experiences less than ideal air quality
Drivers who own vehicles that do not adhere to the emissions standards set out by the ULEZ scheme will need to pay the daily £12.50 charge to drive within the Docklands area. However Docklands isn't within the Congestion Zone, and so the Congestion Charge won't apply unless you are driving into the Congestion Zone area.
The ULEZ scheme is designed to improve air quality across London, however Docklands residents are still currently being exposed to levels of pollutants that exceed the annual limit recommended by the World Health Organisation (WHO). Between January 2021 and February 2021 air pollution exceeded recommended levels on more than half the days, which equates to exposure four times the recommended level over the course of a year.
Is Docklands a safe place to live?
If we focus on the part of the Docklands area closest to Canary Wharf, we can see that there were 3,230 crimes reported between January 2020 and December 2021. This is higher than in nearby Limehouse, which recorded 1,040 crimes but much lower than in many other areas of Tower Hamlets including Bethnal Green, Spitalfields and Banglatown and St Peter's.
Of these 3,230 crimes, there were 1,038 cases of theft, 944 violent crimes and 248 vehicle offences. Crime was down in the area throughout the middle of 2020, rising towards the end of the year and remaining relatively stable throughout 2021. Crime fell between October 2021 and November 2021 from 171 crimes per month to 147 crimes.
In the neighbouring area of Island Gardens, which is also within the borough of Tower Hamlets, there were 1,375 crimes reported during the same period. This figure included 533 violent crimes, 160 cases of theft and 143 public order offences. The number of crimes occurring each month are lower here than in Canary Wharf, reaching a peak of 74 in July 2021. Crime fell between October 2021 and November 2021 from 64 to 47 cases.
There were 11 cases of harassment recorded in Island Gardens in November 2021 alongside five reports of miscellaneous theft and five assaults without injury. There were a handful of crime hotspots in the area, including the eastern edge of Millwall Park, Westferry Road, and Burrells Wharf Square.
Overall, there were four crimes per 1,000 residents recorded in Island Gardens during November 2021. This compares favourably to the borough of Tower Hamlets which recorded 10 crimes per 1,000 residents, and the wider London area which saw eight crimes per 1,000 residents.
Which celebrities live in Docklands?
Its proximity to the heart of London's business and financial districts mean that many high net worth individuals have snapped up some of the most expensive property in the Docklands area. Undoubtedly this also includes some famous faces, however as this part of the city isn't a renowned celebrity haunt, it allows them to live somewhat under the radar and to simultaneously enjoy a slice of luxury and a healthy amount of anonymity.
Things to consider when moving to Docklands
Many regeneration projects have caused a certain level of conflict between developers and long-term residents of an area, however arguably it is particularly noticeable in this part of London. A rapid property boom caused property prices to soar, which left many people who have lived in the area for their entire lives feeling as though they were being squeezed out of the place they call home.
Today the disparity between the plethora of luxury apartment blocks or the numerous stylish warehouse loft conversions stands in stark contrast to the run-down estates that simply haven't seen enough investment for decades. However, redevelopment in the area has expanded outwards, with the likes of Deptford and Greenwich also seeing deserved investment being put into the areas in various ways.
Prices in the Docklands area are comparatively quite affordable given its relatively central location, so now could be the ideal time to invest if you want to live in a vibrant part of the capital that is seeing improvements being completed on a relatively consistent basis.