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10 cheapest places to buy a property in London

By Jan Moys

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We take a look at the cheapest places to buy a property in London according to the UK House Price Index (HPI) for March 2018. This shows the most affordable London boroughs and how house prices have changed over the past year.

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 2018.

Hillingdon is the only new entrant in this year's '10 cheapest' list. Redbridge prices increased by 4.9% since March 2017 to an average of £422,551, pushing it off the list.

Kensington and Chelsea remains the most expensive borough, and by some margin. The average house there comes in at £1,343,582 - over £30,000 more than the price of an average home in the next cheapest borough - the City of Westminster.

Starting with the cheapest and working our way up in value, here are London's ten lowest-cost areas for buying property in 2018:

1. Barking and Dagenham

Average house price: £291,159

View from The Lemonade Building, Barking

Barking and Dagenham remains the cheapest place to buy property in London. With an average price of £291,159, 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.

2. Bexley

Average house price: £343,144

Hall Place in Bexley

The second cheapest borough with an average price of £343,144 - 4.3% higher than in March 2017. Bordering Greenwich to the west and Bromley to the south, Bexley will be served by Crossrail services from its Abbey Wood station from December 2018.

3. Newham

Average house price: £351,114

The Caxton Works development in Canning Town, Newham

Average prices in Newham have dropped to £351,114 in 2018 - a 3.7% decrease since 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.

4. Croydon

Average house price: £363,472

Saffron Square in Croydon

Croydon's renaissance continues, attracting buyers with its low prices, ever-improving amenities and easy access to Central London. £363,472 is the average price of homes in this borough - little changed since last year.

5. Havering

Average house price: £369,313

Langtons House in Havering

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.

6. Sutton

Average house price: £378,555

Sutton High Street

Sutton schools boast the best results of any borough in Greater London. With average house prices at £378,555 it provides an attractive option for families looking to upsize away from the central London zones.

7. Greenwich

Average house price: £379,786

The view from the Royal Park in Greenwich

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. House prices have increased by 2% since 2017 to reach an average of £379,786.

8. Enfield

Average house price: £393,500

Chase Side in Enfield

The most northerly London borough, Enfield is connected with the tube network by Arnos Grove, Southgate, Oakwood and Cockfosters stations on the Piccadilly Line. Crossrail 2 could provide an additional boost to the borough's economy and property prices, currently averaging £393,500.

9. Hounslow

Average house price: £396,271

Hibernia Gardens in Hounslow

Stretching from Chiswick in the east to Bedfont at its westerly tip, Hounslow encompasses a huge variety of property. Brentford has enjoyed substantial development in recent years, while Isleworth remains a firm favourite with commuter families.

10. Hillingdon

Average house price: £401,454

West End Road in Ruislip, Hillingdon

This most westerly London borough and home of Heathrow Airport, Hillingdon is served by the Piccadilly and Metropolitan lines. The British Airways headquarters is located in Harmondsworth and Cadbury Schweppes also has its head office in the borough.

Explore more

Discover the 10 cheapest places to rent in London, find out why it makes sense to invest in outer London right now or get some great mortgage advice for first-time buyers.

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