London: official statistics
London as a statistical region (ONS code E12000007) is the area of the Greater London Authority: the 32 London boroughs and the City of London, 33 local authorities in all. It covers 1,572 square kilometres, the smallest of England's nine regions by area but the second largest by population after the South East, according to the ONS mid-year population estimates. Croydon (410,085) and Barnet (408,087) are the most populous boroughs.
On most money measures London is at the top of the regional tables, and on unemployment it is also at the top. The labour market figures below load live from the ONS; the others show the latest values read on 13 October 2026.
Figures from the ONS update automatically when a new release comes out; the others show the latest value when we last checked, with its period.
A services economy built on finance, tech and professional firms
London generated £614.5 billion of gross value added in 2024. Finance and insurance made up 17.1% of it, more than twice the UK share of 8.0%; professional, scientific and technical activities 13.4% (UK 8.6%); and information and communication 11.5% (UK 6.1%), according to the ONS regional GVA by industry. London produced 51% of the UK's finance and insurance output and 44% of its information and communication output. Manufacturing was 2.2% of the London economy, against 8.9% nationally.
Including taxes on products, London's GDP was £656.3 billion, 22.8% of the UK total, in the ONS regional GDP release of 23 September 2026.
GDP per head and why it overstates residents' income
GDP per head in London was £72,201 in 2024, 1.7 times the UK figure of £41,627 and the highest of any region. The ONS warns that this measure is distorted by commuting: output produced by people who live in the South East or East of England but work in London is divided only by London's resident population.
Gross disposable household income, which is counted where people live, gives a smaller gap: £36,487 per head in 2024, 140.5% of the UK average, still the highest in the UK, in the ONS GDHI release. Measures that take housing costs into account give a different picture; see child poverty figures. Scotland's and Wales's figures are on their own pages: Scotland's population and the GDP of Wales.
Unemployment: the highest of any English region
London's unemployment rate was 6.8% in May to July 2026, the highest of the nine English regions and up from 6.1% a year earlier (UK 4.9%). The employment rate for 16 to 64 year olds was 73.9%, down from 75.3%, and the inactivity rate 20.5%. The claimant count rate was 5.1% in August 2026.
High pay and high unemployment can coexist because the two measures describe different groups of people. Borough figures, including for inner and outer London, are in the Nomis London labour market profile.
Pay: median and mean
Median full-time pay for jobs in London was £49,692 a year in April 2025 (£958.20 a week), 27% above the UK median of £39,039 and the highest of any region. The mean was much higher, £70,275, because a minority of very high earners pull the average up; that is why the ONS leads on the median. Including part-time jobs, the median was £43,190.
House prices are falling while rents rise
The UK House Price Index average for London was £550,037 in July 2026, down 3.3% on a year earlier. London was the only English region where prices fell by more than 1%. Flats and maisonettes averaged £424,013 (down 6.6%), while detached houses averaged £1,167,718.
Rents moved the other way: the ONS Price Index of Private Rents put the average London rent at £2,332 a month in August 2026, up 3.5% on the year and the highest in the UK. For borough-level sale prices, see how to find sold house prices.
Population: the only English region to shrink
London's population was estimated at 9,122,909 at mid-2025, down 26,737 (0.3%) on a year earlier; every other English region grew. Births exceeded deaths by 54,211, the largest natural increase of any region, and net international migration added 51,839. But a net 131,961 more people moved from London to other parts of the UK than moved in. London's median age, 36.2, is the lowest of any English region, and its density, 5,804 people per square kilometre, compares with 451 for England. For context, see net migration to the UK.
Who runs London
The Greater London Authority is made up of the directly elected Mayor of London, currently Sadiq Khan, and the elected London Assembly, which scrutinises the Mayor. The 33 borough councils run most local services. The GLA is one of the seven mayoral authorities with an Integrated Settlement, and the only one that receives domestic abuse funding as a tier one authority, according to the GOV.UK Mayoral Strategic Authority funding note.
Questions about London
What is the population of London?
9,122,909 at mid-2025, according to ONS estimates published on 29 July 2026. That was 26,737 fewer than a year earlier, as more people moved out to other parts of the UK than arrived.
What is the average salary in London?
The ONS median for full-time jobs in London was £49,692 a year in April 2025 (£958.20 a week). The mean was £70,275. The all-employee median, including part-time jobs, was £43,190. The 2026 figures are due from the ONS in the autumn.
What is the unemployment rate in London?
6.8% in May to July 2026, the highest of England's nine regions and above the UK rate of 4.9%. The figure on this page updates with each monthly ONS release.
What is the average house price in London?
£550,037 in July 2026 on the UK House Price Index, 3.3% lower than a year earlier. Flats averaged £424,013.
What is London's GDP?
£656.3 billion in 2024 at current market prices, 22.8% of UK GDP, or £72,201 per head, according to ONS regional accounts. The per head figure is inflated by commuters who live outside London.
What is the average rent in London?
£2,332 a month in August 2026, up 3.5% on a year earlier, in the ONS Price Index of Private Rents. The ONS also publishes borough averages in the same dataset.
Related questions
- What is the average salary in the UK?
- What is the UK unemployment rate?
- What is the average house price in the UK?
- How much are rents rising in the UK?
- What is net migration to the UK?
- What is UK GDP per capita?
- What is the population of Scotland?
Official sources: ONS labour market in the regions of the UK · Nomis labour market profile: London · ONS population estimates for England and Wales · ONS regional economic activity by GDP · ONS Price Index of Private Rents · UK House Price Index for July 2026 (GOV.UK) · Greater London Authority
Other regions: East Midlands · East of England · North East · North West · South East · South West · West Midlands · Yorkshire and the Humber