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Canary Wharf Buy-to-Let Guide

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    Everything You Need to Know About Canary Wharf Buy-to-Let

    Canary Wharf is well-known as London’s financial capital. Located in the West India Docks on the Isle of Dogs, this business hub is home to some of the world’s biggest banks and towering office buildings. The district aims to be a ‘city-within-a-city’, with work, home, and play all in one place for Canary Wharf residents.

    With such popularity among working professional renters and with more regeneration on the way, property investors are wondering if Canary Wharf is the perfect place to invest in buy-to-let property. So, how does the area stack up when it comes to the property investment scene?

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      A picture of Canary Wharf, Financial District in London

      Buy-to-Let Property Prices in Canary Wharf

      According to Rightmove, the average price of a property sold in Canary Wharf over the last year was £567,640. This is nearly double the average for the whole of the UK, which is £284,691, as stated by the UK House Price Index. However, an average house price of half a million pounds is not uncommon in London, and Canary Wharf’s stock is not as expensive as many buy-to-let properties for sale in London, where the average is more than £1 million in some areas.

      This average sold price is 10% down on the previous year. This isn’t surprising as the 2023 property market was characterised as challenging, and London was the worst affected of all regions.

      But is the property market’s current disappointing performance set to continue? According to Savills’ Residential Forecast, growth is set to return to the UK from next year, and healthy growth is predicted from 2026 onwards. But it’s worth noting that London’s projected growth of 13.9% by 2028 is lower than the overall national average of 17.9%.

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      Buy-to-Let Rental Market in Canary Wharf

      According to, the average monthly rent for a property in Canary Wharf is £2,920. This is very expensive considering that the overall average for the UK is £1,262 per month, making Canary Wharf a good option for those investing for monthly income.

      While rent in the area is definitely on the pricey side, Unbiased states that the average asking rent in Canary Wharf has actually decreased in 2023, in contrast to the trend towards rapidly increasing rental costs across the country.

      Situated in Transport for London Zone 2, the area has good links to the rest of London and is popular with City workers who want to live close to the action. However, the decline in demand may be due to the rise of remote work, as commuters have prioritised an easy journey to work less in recent years.

      Canary Wharf also has potential as a destination for a student investment property. The area attracts affluent student renters due to convenient transport links and proximity to institutes such as the University of Greenwich.

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      Investment Properties for Sale in Canary Wharf

      Canary Wharf is known for its towering glass skyscrapers and is even home to some of the tallest residential buildings in Europe. As such, many available properties are high-rise apartment blocks, including modern and luxury apartments. There are also trendy warehouse conversions popular with young professionals, and traditional Georgian and Victorian terraces can be found in outer areas like Limehouse and Blackwall.

      So, what’s the most popular property type for buyers in Canary Wharf? According to Rightmove, most sales in Canary Wharf last year were flats, selling for an average price of £543,453. Terraced properties went for an average of £805,431, while semi-detached properties fetched £730,000.

      Further Reading: If you’re considering a buy-to-let investment, find out about stamp duty rates on second homes with our useful guide!

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        Buy-to-Let Investment in Canary Wharf: Area Breakdown

        Canary Wharf is located in Zone 2 and the E14 neighbourhood. The central area of Canary Wharf typically sees the most demand, with average prices reflecting this. Poplar is the nearest outer neighbourhood to the central district, situated to the north.

        There are also nearby options, such as Limehouse and Blackwall, where property prices are lower than those of central Canary Wharf.

        Canary Wharf Station

        Average Property Prices in Canary Wharf Station

        The average property price in this area is £755,674.

        Average Rental Yield in Canary Wharf Station

        The average rental yield in this area is 3.94%.

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          Average Property Prices in Poplar

          The average property price in this area is £542,880.

          Average Rental Yield in Poplar

          The average rental yield in this area is 6.59%.

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          Average Property Prices in Blackwall

          The average property price in this area is £573,629.

          Average Rental Yield in Blackwall

          The average rental yield in this area is 5.32%.

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            Average Property Prices in Limehouse

            The average property price in this area is £564,442.

            Average Rental Yield in Limehouse

            The average rental yield in this area is 5.59%.

            (Average property prices taken were from Rightmove in early 2024; rental yield estimates were calculated with figures from in the same period)

            What is the Best Area of Canary Wharf to Invest in?

            The most central parts of Canary Wharf, such as the area around Canary Wharf Station, are the most expensive, as expected, due to high demand and convenient location. This premium price tag means the rental yield is not as good as in other areas.

            More affordable property can be found in the outer neighbourhoods of Poplar, Blackwall, and Limehouse. Out of these areas, Poplar has the lowest average property price, and its advantageous location near Canary Wharf has driven the average rental costs up, leading to the highest average gross rental yield.

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            Why You Should Consider a Buy-to-Let Investment in Canary Wharf


            Canary Wharf started as a regeneration project, built on London’s derelict docklands. It’s now a thriving urban hub, home to sleek glass, steel skyscrapers, and some of the world’s most major banks.

            The area has benefitted from continuous redevelopment since its inception. However, as mentioned, the district’s growth has been stalled somewhat by the trend towards remote work, which has led to a loss of business tenants in the office buildings.

            However, the area has just been announced as a recipient of the government’s ‘levelling up’ funds, sharing £242 million between Barking Riverside and Canary Wharf. This shows a renewed focus on the district, which may make Canary Wharf a smart long term investment choice in the future.


            There’s more to Canary Wharf than high-rise office buildings and corporate headquarters. The district is also home to numerous shopping and leisure options, with year-round events and exhibitions. The area’s appeal to renters comes from proximity to work, good links to the rest of London, and the aspirational lifestyle offered by being a Canary Wharf resident. This is more popular with some investors looking for serviced accommodation investments.

            There are over 300 places to shop and dine in the area, so residents enjoy convenience and ample green spaces like Jubilee Park.

            Home to luxurious new developments, there’s also prestige that comes with residing in Canary Wharf, which is likely partly due to the premium price tag that comes with living there.

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            Canary Wharf New-Builds

            Canary Wharf is a sought-after area with new-build developments that are ongoing or in the pipeline. The government has announced that funds have been set aside for newly built housing in Canary Wharf, and the district is often targeted by private developers, too.

            In fact, the area is a hotspot for luxury developments, and these flashy residences often include private gardens, indoor recreation facilities, and high-specification amenities. The waterside districts are particularly popular for these kinds of new build projects.

            New builds are highly desirable, but they are typically more expensive than older properties, and Canary Wharf is already generally a pricey prospect for property investment. For this reason, many investors look to cheaper parts of London or other regions with more affordable prices on average for a new build investment.

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              Off plan

              Off-Plan Property in Canary Wharf

              Off-plan is one strategy for buying a newly built property at a lower price than usual. By investing during the planning or construction stage of the development, investors can take advantage of discounts offered by the developers.

              As a coveted part of London for property, it’s not uncommon to find off-plan investment opportunities in Canary Wharf. But even with the discounted price that can be attained by going off-plan, it’s still much more expensive than other areas, especially as many of these developments are high spec and luxurious.

              For investors looking for cheaper off-plan options in London, it could be worth exploring off-plan property in Luton or other commuter areas.

              If you’re willing to look further afield, much more affordable opportunities can be found in major Northern cities such as Manchester and Liverpool.

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              How Does Canary Wharf Compare to Other UK Regions When It Comes to Buy-to-Let?

              Canary Wharf is an eye-catching investment opportunity, but realistically, it’s a very expensive area compared to other UK regions when it comes to property.

              While it’s hard to find a property for less than half a million pounds in Canary Wharf, cities in the North of England are much more affordable and have more promising rental yields. For example, Zoopla states that Liverpool is one of the UK’s top cities in terms of rental yields. They calculated that with the average price of a buy-to-let property in the city being £128,905 and the average monthly rent standing at £798, the gross average rental yield comes out at 7.43%. The property portal also references Liverpool’s excellent employment prospects and large student population as reasons for the city’s attractive opportunities for a property investor.

              London’s projected growth for capital value is also less than the overall UK average.

              Northern regions such as the North West are predicted to experience more robust growth, and Savills forecast a rise of 20.2% for this part of the country by 2028.

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                Want to Invest in Canary Wharf?

                While the appeal of Canary Wharf may have dwindled somewhat, it’s still a prestigious area which stands to benefit from continuous regeneration and a global reputation.

                However, the district is simply too expensive to be lucrative for the average property investor. Other areas of the UK, especially regions outside of London, are much more affordable.

                Find out more about the UK’s property investment hotspots with our buy-to-let area guides:

                Map of Canary Wharf

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                Jessica Ferris

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                Jessica is a property content writer at RWinvest. Keeping a close eye on the UK property market, Jessica helps our readers stay informed and up to date on the latest market news and statistics.