Best-value homes: The 6 cheapest places to buy in London
Although everyone knows that East London tops the list of the most affordable boroughs in the capital when it comes to buying a home, there is value to be found in north and west London too.
The average London home now costs £475,000 price-tag, but homes on the capital’s fringes can be significantly cheaper, Homes and Property writes.
According to the latest Land Registry figures, the average price in the cheapest borough, Barking and Dagenham, stands at £277,000.
loading...
But there are also places in London where prices start from a much lower sum.
If you search on Rightmove, you’ll see that the asking prices for one-bedroom flats in some parts of the east London borough start from £140,000 and for two-bedroom flats from £170,000.
London’s second cheapest borough, Bexley is the most in-demand area for buyers in the capital, according to the latest report from online estate agent eMoov.
Havering is also on the list, although Havering is among the areas with the fastest-rising prices in the capital – up 11.8 per cent to £362,000 over the past year. But it remains the fourth cheapest area to buy in London.
Property in Bexley sells for an average of £333,000, but you can find here one-bedroom flats for £110,000 and two-bedroom flats from £150,000.
Enfield in north London and Hounslow in south-west London also make it on to the top 10 list of cheapest areas in the capital, with house prices under £400,000.
In Enfield, the minimum price for which you’ll find a one-bedroom flat is £180,000, while prices for two-bedroom flats start from £230,000.
loading...
Hounslow is cheaper, with one-bedroom homes having asking prices of £170,000 and two-bedroom flats beginning at just under £200,000.
Loading...