Most commentators had anticipated a pretty good result for the Conservatives in suburban London, and the first declaration suggests that this is happening. The Conservatives gained Putney with a 6% swing (a 4% increase in their vote and a steep drop in the Labour vote) - the first confirmed change of the night.
If Putney is typical, Labour's majority has vanished. But it is something of an odd place, prepared to vote Conservative massively in elections for Wandsworth Council but share its favours with Labour at a national level for a while. The same goes for neighbouring Battersea - which should also declare soon.