We take a look at the cheapest places to buy a property in London according to the UK House Price Index (HPI) for March 2019. This shows the most affordable London areas by borough, and how house prices in London have changed over the past year.
**Update: the results are in - you can find the most recent data on the cheapest places to buy property here: 10 Cheapest Places to Buy a Property in London in 2022.**
Considering renting instead? See our blog on Cheapest Rent in London for up-to-date rental prices in different areas of London.
The UK House Price Index provides monthly updates on the changing average prices of residential properties across the UK. The lighter greens on the map above show the ten cheapest London boroughs as of March 2019.
Lewisham is the only new entrant in this year's '10 cheapest' list. Hillingdon prices increased by 1.12% since March 2018 to an average of £410,804, pushing it off the list.
Kensington and Chelsea remains the most expensive borough, and by some margin. The average house there comes in at £1,163,082 - over £25,000 more than the price of an average home in the next cheapest borough in the London city centre - the City of Westminster.
Starting with the cheapest and working our way up in value, here are the ten lowest-cost areas to live in London in 2019:
1. Barking and Dagenham
Average house price: £300,517
Barking and Dagenham remains the cheapest place to buy property in London. With an average price of £300,517, this borough offers great value for money. Excellent transport links into Central London are set to further improve with Crossrail to Chadwell Heath and the Overground extension to Barking Riverside.
Discover more flats for sale in London under £300k here, or if you'd prefer to rent in the area, see property to rent in Chadwell Heath.
2. Bexley
Average house price: £342,993
Bexley is the second cheapest borough with an average price of £342,993 – 4.3% higher than in March 2018. Bordering Greenwich to the west and Bromley to the south, Bexley will be served by Crossrail services from its Abbey Wood station once the line opens.
3. Croydon
Average house price: £359,336
Croydon's renaissance continues, attracting buyers with its low prices, ever-improving amenities and easy access to Central London. £359,336 is the average price of homes in this borough in 2019 – slightly down on last year's prices.
Croydon also has quite a few new builds for sale in London available.
4. Havering
Average house price: £362,698
More than half the land in the borough of Havering is protected Greenbelt land. Transport into central London is provided by the District Line running west to Upminster – one of the main urban areas in the borough alongside Romford, Hornchurch and Rainham.
5. Sutton
Average house price: £368,520
Sutton schools boast the best results of any borough in Greater London. With average house prices at £368,520 it provides an attractive option for growing families looking to upsize away from the central London zones.
6. Newham
Average house price: £370,525
Average prices in Newham have grown to £370,525 in 2018 - a significant 4.97% increase over the previous year. Popular areas such as Stratford and Custom House offer a wide variety of affordable new-build properties with transport links provided by the DLR as well as Central and Jubilee tube lines.
Find your perfect house for sale in Newham here.
7. Greenwich
Average house price: £372,803
This Royal Borough is named after the World Heritage Site of Greenwich, with its Naval College, Observatory, Royal Park and many other attractions for visitors. The average house price in Greenwich is now £372,803, making it an appealing prospect for buyers too.
8. Enfield
Average house price: £397,193
The most northerly London borough, Enfield is connected with the tube network by Arnos Grove, Southgate, Oakwood and Cockfosters underground stations on the Piccadilly Line. Crossrail 2 could provide an additional boost to the borough's economy and property prices, currently averaging £397,193.
9. Lewisham
Average house price: £397,335
Covering a large area of east London, Lewisham includes historic Blackheath, fashionable Deptford and the popular residential areas of Brockwell, Forest Hill and Sydenham. With average prices at £397,335, this borough offers great value homes in a wide variety of attractive neighbourhoods.
10. Hounslow
Average house price: £404,615
Stretching from Chiswick in the east to Bedfont at its westerly tip, Hounslow offers a hugely varied property stock. Brentford has enjoyed substantial development in recent years, while Isleworth remains a firm favourite with commuters wanting more space for their growing families.
Explore more
Still looking? Here's some insight into the current market: why it's still a great time to buy your home in London and our First Time Buyer Guide.
Here are a few more areas to start your search: properties for sale in London under £300,000 or modern living in new build homes.
Or if you'd rather rent, see the the cheapest areas to rent in London right now and affordable one-bed areas to rent in London. Also, find out why it makes sense to invest in outer London right now and get some great insight into what to do when you first move in.
Want to sell or rent your property? Get a free, no obligation valuation and find out how much your property is worth in today's market. For more information on trends and property prices london, visit our living in guides.
