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Yes it's very low, which makes it all the important for the cycling community to help the police.
Please take a look at our new stats page for the Met police. The 'sanction detection' rate for 2017 is standing at 1.7%.
https://www.stolenride.co.uk/resources/crime-statistics-bicycle-thefts-met-police/
StolenRide
Cool map. Basically the chances of any comeuppance from stealing a bike is negligible.