Property Investing 101

The 10 London boroughs with the cheapest house prices

East and south London remain the top areas for home buyers on a budget in 2019 according to the latest sold prices recorded by the ONS.

Some of the 10 cheapest places to buy a home are also among areas where house prices have risen most over the course of the year in the capital’s struggling property market, where the average house price dropped 1.7 per cent to £474,000.

1. Barking and Dagenham
Average price: £300,518
Annual price change: 2.4%

Barking and Dagenham in Zone 4 is still the cheapest borough to buy a home in London, with property a third cheaper on average than in the rest of the capital. As a result, it’s unsurprising that the east London borough is one of the few areas to see positive house growth this year. There is huge regeneration afoot, with almost 11,000 new homes planned in a new riverside district.

2. Bexley
Average price: £341,784
Annual price change: 1.8%

Crossrail may have been delayed but people are still buying into this south-east London borough. A branch of the line will end at Abbey Wood when it finally does open, connecting this relatively inaccessible neighbourhood to central London.

https://www.homesandproperty.co.uk/property-news/where-to-buy-in-2019-cheapest-house-prices-in-london-a126831.html

3. Newham
Average price: £365,182
Annual price change: -0.8%

Newham in east London was one of the Olympic boroughs and has enjoyed a significant boost in investment and new building as a result. The regeneration is set to continue apace (eventually) as the borough has five Crossrail stations on the cards.

4. Croydon
Average price: £365,931
Annual price change: -2.6%

The 2018 World Cup put Croydon on the map as a fun hotspot thanks to the crowds of football fans enjoying the action on the screens at the south London borough’s Boxpark. The venue is catering to the first-time buyers snapping up new homes in the area – it was the sixth top borough for Help to Buy sales in London last year.  

5. Havering
Average price: £375,014
Annual price change: 2.1%

On the Essex-London border, Havering will also get an Elizabeth line stop in Romford, the borough’s main town. There are plans for thousands of new homes in the borough and Romford itself is getting £35 million of investment around the riverside. 

6. Sutton
Average price: £382,607
Annual price change: 0.3%

The south-London borough of Sutton is on a mission to become the UK’s first sustainable suburb with first-time buyer homes being built with full eco credentials. In travel Zone 5, it is set to get an extension of the Croydon to Wimbledon tram service. It was also found to be the area with the best life satisfaction in London. 

7. Hounslow
Average price: £395,734
Annual price change: -0.4%

Hounslow remains the cheapest place to buy a home in west London, mainly due to its proximity to Heathrow Airport and the resulting plane noise. But a major regeneration programme is attempting to add to Hounslow’s attractions with a £410 million revamp of the former Hounslow Civic Centre site including nearly 1,000 new homes. 

8. Enfield
Average price: £396,908
Annual price change: -0.5%

Three train stations and three Tube stations connect this outer north London borough, which borders the M25 to the north, to the rest of the capital, making it eminently commutable. Enfield has been designated as one of Sadiq Khan’s “Housing Zones”, with new neighbourhoods and transport upgrades on the horizon. 

9. Hillingdon
Average price: £399,639
Annual price change: -4.5%

With two Crossrail stops in the borough – at Hayes & Harlington and West Drayton – Hillingdon remains surprisingly under the radar, despite being the fourth best area for Help to Buy sales in London.

10. Greenwich
Average price: £411,492
Annual price change: 2.9%

The cheapest inner London borough, Greenwich in south-east London has seen significant regeneration in the borough including 5,000 new homes and shops, restaurants and businesses at the Royal Arsenal development.