London art scene soars: 5 reasons to be cheerful about the capital’s creativity

London is a global capital of creativity, finance, and cultural exchange — and has long been a pivotal player in the art world. Despite the many challenges facing the planet, both politically and economically, it is reassuring to learn that London’s art ecosystem is thriving and uniquely resilient, according to the prestigious annual report from Art Basel & UBS.

So, while basking in the glow of the findings from The Art Market 2025, here are five key reasons to be cheerful for British creatives:

1. UK reclaims number 2 position in the world art market

Perhaps the clearest sign that Britain's art scene is in robust health is the nation's securing of the second-largest share of worldwide sales at approximately 18%, amounting to $10.4 billion (£7.6bn) in 2024. That’s a gentle dip in value, yet a firm recovery of market share that sees London stake its claim above China.

This isn’t just a numbers game: it's a signal that the capital's auction houses, galleries, and collectors are competing on a truly global level. For Londoners, it heralds renewed interest, investment, and international visibility.

This outlines not only institutional confidence but also boosts local cultural momentum — and with it, footfall at galleries and major fairs such as Frieze, Masterpiece and London Art Fair.

2. Pump up the volume

One of the most encouraging trends is that global transaction volumes rose 3% to 40.5 million — driven by increased activity at the more accessible end of the market. The biggest rise? Works priced under $50,000 (£36,800) — perfectly aligned with London’s vibrant mid‑tier gallery scene, where emerging and under‑the‑radar artists are being discovered.

In the UK, the “art for all” ethos is gaining traction: smaller works, prints, photographs and editions are flying off gallery walls and into homes across the capital.

For Londoners, that means affordable opportunities to begin or expand collections, in neighbourhood galleries from Clapham to Islington. The effect is art democratisation in action — promising vibrancy and engagement at every level.

3. Small galleries surge

The heartening news for the high street is that galleries with less than $250,000 (£184,000) annual turnover saw a 17% increase in sales.

These nimble, often locally rooted art showrooms form the backbone of London's creative world — from the emerging art hub of Rathbone Place to the independent spaces of Hackney Wick.

Their success reflects shifting values: collectors seeking community and discovery, rather than chasing trophy pieces.

London’s art scene has always prided itself on supporting the grassroots — and this data reveals this ecosystem is alive and flourishing, with truly entrepreneurial galleries thriving as they connect visitors to fresh talent and cultivate the city’s next crop of stars.

4. Digital provides a gateway for new collectors

Although online sales dipped 11% to $10.5 billion (£7.6bn), they remain 76% above pre‑pandemic levels and, crucially, within those platforms 46% of online buyers were brand-new collectors.

For London, this is a huge point: digital spaces are now a launchpad for new audiences — from UK millennials to international art lovers who discover galleries in St James’s or Shoreditch via Instagram, Artsy or gallery web sales.

London galleries have been quick to adapt — organising virtual viewings, publishing high‑quality catalogues and engaging audiences on social media. The result? A global marketplace powered by curiosity, not exclusivity. The report shows how these collectors are entering at accessible price points and growing into more confident buyers over time — a trend London institutions should celebrate and encourage.

5. Women artists gain momentum

It's important to highlight perhaps the most socially resonant news: women artists now make up 41% of dealer rosters and, in primary markets, they account for 46% representation with 42% of associated sales.

Locally, London’s galleries have seized upon this shift — organising solo shows for female artists, promoting diversity, and supporting career development. The ripple effect is tangible: female-led exhibitions in London have attracted sponsorships, critical acclaim, and collector interest, nourishing a more equitable, innovative cultural scene.

A 4% sales rise in galleries with a majority of women artists only serves to further highlight the business benefits of diversity.