Billingsgate Market is closing because the City of London Corporation decided to withdraw support for the current site, citing that it no longer meets modern standards. The decision followed the abandonment of a proposed £1bn relocation to Dagenham due to soaring construction costs and inflation. The site is now earmarked for redevelopment.
Billingsgate Market is closing because its current site is outdated, inefficient for modern logistics, and contributes to congestion, with the City of London Corporation cancelling a planned £1bn relocation to Dagenham due to rising costs, but plans are now in place to move both Billingsgate and Smithfield to a new site in the Royal Docks by 2028, allowing for modernization while redeveloping the old sites for housing and culture.
What is going to happen to the Billingsgate Market?
April 2019: The City of London Corporation announces plans to move Smithfield, New Billingsgate and New Spitalfields markets to one mega-site in Dagenham. November 2024: Dagenham is off! The City of London announces that the markets will still close, but they will NOT now relocate to Dagenham.
Most traders from both markets have agreed to move together to a new site, although the current markets will stay open until at least 2028, the City of London Corporation said. It added that it had signed an agreement with the Greater London Authority to work on the proposals.
UK consumers prefer cod and haddock. We eat these fish more than any other nation. This is the fish served most often in our fish & chip shops. Most of this comes from the Icelandic, Norwegian and Barents Seas, where around one twelfth of the total is caught by the British trawler Kirkella.
Historic London Markets To Close: Smithfield & Billingsgate Could Shut After Centuries Of Trading
What will replace the Billingsgate Market?
On December 3, 2025, Albert Island at the Royal Docks was announced as the new preferred site to co-locate Smithfield and Billingsgate Markets. These markets will become known as New Smithfield and New Billingsgate Markets.
When the plan was made public, in April 2019, excitement was expressed about the City of London Corporation, owner of the Smithfield meat market in Farringdon, Billingsgate fish market in Poplar and the New Spitalfields horticultural produce hub in Leyton, consolidating all three in one place.
Billingsgate is not London's best known market, but it might be the best value for money. One kilogram of fresh salmon goes for 14 quid, 17 if it's a premium fillet.
News that the City of London Corporation is to close Smithfield meat market and Billingsgate fish market for good by 2028, abandoning plans to relocate them to a new £1bn Dagenham Docks development, is slowly being absorbed by Smithfield traders.
London house prices did not grow at all in 2025, with the average £661,000 recorded in December the same as at the end of last year. Nationally, asking prices fell by 0.6 per cent over the course of 2025, according to the latest data from Rightmove.
Borough Market is a wholesale and retail market hall in Southwark, London, England. It is one of the largest and oldest food markets in London, with a market on the site dating back to at least the 12th century.
After almost eight centuries at the heart of life in the capital and a period where their future lay in doubt, the historic Smithfield and Billingsgate markets are to get a new home on a former industrial site in east London.
In November 2024, the council announced it did not intend to proceed with these plans as they were no longer economically viable; instead, Billingsgate Fish Market and Smithfield Market would close in or after 2028 with no replacements.
Billingsgate is served by almost every port in the United Kingdom. Most of the fish is transported by road directly from the coast and arrives at the market in the early hours of the morning.
In 2025, 68% of London leavers stayed in the South of England (South East, South West or East of England) – the highest proportion since 2021 and up from 62% in 2024. This marks a reversal of the pandemic and then affordability-led trend that pushed buyers further into the Midlands and North.
The best-tasting fish in the UK is subjective, but popular choices for flavour and versatility include Haddock (sweeter, flakier) and Cod (meatier) for fish and chips, Salmon (rich, Omega-3s), Sea Bass (mild, delicate), and luxury options like Dover Sole, Brill, and Monkfish for their distinct textures and tastes, with local specialties like Cornish Sardines or Shetland Mussels also highly rated.
Portugal is the biggest consumer of cod in the world, with 20% of all cod caught worldwide being eaten in the country. While salt cod is a traditional Christmas Eve meal, it can be found in Lisbon year-round.
