The average price of real estate in London over the previous year was £7,10,796. Overall, sales prices in London rose by 7% from the prior year and 13% from the highest price of £628,969 in 2019. With these prices, buying a home in a London borough or close to the city may seem practically impossible.
Therefore, if you want to move to London or purchase a house in or near London but are uncertain where to begin, don’t worry; we are here to assist you. If you require on-ground assistance, you may approach trusted UK estate agents. You can also avail of the reports from the UK government’s “House Price Index”, which gives weekly updates on how UK residential property prices are changing on average.
Read on to find out about the list of the cheapest areas that you could consider buying in and around London.
List of cheapest London Boroughs
London is a charming city to live in with a diverse population of nationalities, renowned architecture, museums and galleries, and a tonne of green spaces. It also has access to excellent schools and universities, countless job opportunities, and skilled and efficient law enforcement officials that keep the city safe. The city has something to offers everyone from sleek and modern to quaint and charming period homes and buildings.
The 32 local government districts that make up the ceremonial county of Greater London are known as the London boroughs, and a London Borough Council governs them. These boroughs in and around the city are convenient for commuting and have reasonably priced homes. Here is a list of the cheapest boroughs you could consider buying in and around London.
- Dagenham ( £3,35,000)
- Barking (£3,53,249)
- Croydon (£3,89,984)
Barking, Dagenham, and Croydon are the parts of London where real estate is most reasonably priced. With an average home price of (about) £3,50,000, these boroughs provide a great deal. Many educational institutions, like the Barking Learning Centre, a learning centre that offers a variety of courses, are located in the Dagenham and Barking borough. Additionally, it has a gallery, a café, a library with free public internet access, and a space for conferences and meetings. Excellent transportation options are also available to go to Central London. Croydon borough features a sizable shopping area and vibrant nightlife. Additionally, it has convenient access to Central London and constantly developing amenities.
- Bexley (£4,12,354)
- Newham ( £4,40,654)
- Hounslow ( £4,50,640)
Bexley, Newham and Hounslow are also considerably affordable places. With an average home price of (about) £4,30,000, these boroughs have good transportation networks, educational institutions, community centres and areas of cultural and historical significance. Newham and Hounslow especially have a diverse population, educational institutions (Such as the University of East London’s campuses—Stratford and Docklands) and places of interest like museums, parks, markets and avenues for sports.
- Lewisham (£5,28,139)
- Bromley (£5,53,004)
Lewisham constitutes suburban communities like Brockwell, Forest Hill, and Sydenham and spans a sizable portion of east London. It offers outstanding value properties in a range of lovely neighbourhoods at an average price of £5,28,139. On the other hand, Bromley offers amenities like theatres, a library, a cinema and even civic society. Also, did you know noted author H. G. Wells was born in Bromley?
More Options: Cities and Towns
Apart from boroughs, small towns and cities also provide affordable options for people who want to buy homes, properties or land in and around London. Here is a list of those for your consideration:
- Shildon (£80,773)
- Durham (£54,000)
- Stevenston (£1,02,473)
- Peterlee (£1,06,637)
- Cleator Moor (£1,17,460)
- Irvine ( £130,964)
- Ferry Hill ( £1,37,500)
- Old Road West, Gravesend (£3,98,375)
- Cumnock, Ayrshire (£3,55,050)
- Harlow Avenue (£356,000)
- Downham (£358,467)
- Greenwich (£5,06,004)
Conclusion
London is a happening place, perfect for buying land or property to start a business, set up a home or host an event. We’ve curated a list of the cheapest boroughs, cities and towns to consider buying in and around London. Happy Buying, happy living!
