According to the latest official Land Registry data, the average London property price is £490,945. Whilst many areas of central London will certainly top that, we’ve looked at five of the cheapest areas in London we cover where you can get on the property ladder for less than the capital’s average. All the areas we look at benefit from great transport links, local amenities and green space – the ideal combination for London living.
Update: Read the most recent 10 most affordable London areas to buy.
Walthamstow
Walthamstow is an ideal home for creatives and those looking for independent businesses in a close-knit community. Walthamstow is home to the William Morris Gallery, God’s Own Junkyard – a haven for lovers of salvaged neon signs, a popular market and numerous independent cafes and restaurants. Being on the Overground, Walthamstow is also perfect for commuters.
£465,000 | 2 bedroom apartment
Barking and Dagenham
The borough of Barking and Dagenham sits to the east of Stratford and Canary Wharf, and offers residents easy access to both central London and the Essex countryside as well as having some of the cheapest house prices in the capital. Commuters already benefit from the Disctrict and Hammersmith and City lines, a Crossrail station will be opened, as well as an extension to the London Overground to Barking Riverside by 2021, and plans in the pipeline include improvements to the A13 and plans for a new Thames river crossing.
£265,000 | 1 bedroom apartment
Croydon
Great value can still be found in the rapidly developing area of Croydon, now a firm favourite with first-time buyers as well as those moving from more central locations to find more space. Croydon is a hub of growth, with a 12 year, £5.25bn programme underway including 46 regeneration projects, a vast array of new facilities and businesses including Boxpark and a new Westfield. Transport links to Croydon are also always a big draw for Londoners. Find out more about the quantum factors affecting growth in Croydon in our London Report.
£335,000 | 1 bedroom apartment
Sutton
For those looking for the perfect balance between city living and suburban calm at less-than-average prices, Sutton tops the list. With a busy high street, an array of independent pubs, a creative vibe (the Rolling Stones were discovered whilst performing in a pub on Sutton High Street) and the glorious Nonsuch Park, Sutton has something to please everyone.
£365,000 | 2 bedroom apartment
Stratford
Stratford’s popularity has skyrocketed since the announcement of the 2012 London Olympic Games. Before 2012, few Londoners would have considered heading two stops further down the tube and Overground lines from Shoreditch to find out just how far their budget could stretch (at the time £250,000 could have brought you a three bedroom house). Although prices have certainly risen in the area, the borough of Newham still remains one of the cheapest in London, and with incredible transport links, the Olympic Park, Westfield and numerous other benefits from investment in the area, it still remains a fantastic place to find a home under the London average.
£449,995 | 2 bedroom apartment
Whatever your budget, our teams are here to help you with your property search.
