Here are the best places to buy in London, so you can see which postcodes you might like to call “home”. This all without breaking the bank. For those prioritising affordability, there are excellent cities near London. Perfect for commuters open to a train journey of over an hour. However, if a lengthy commute isn’t for you, then exploring the best places to buy within London is a great alternative. Say goodbye to the idea of lengthy commutes and hello to London living!
Cheapest areas in London
Comparing prices of flats & houses in best places to buy in London
Everyone has their own view of what makes an ideal home. For some it’s a house with outside space; others prefer modern apartments with a view. The majority of first-time buyers opt for flats (especially in London), which are typically cheaper than houses.
However, not all flats are more affordable! Pricing contains many factors, including location within the area, year of build, and whether or not the apartment has extras like on-site amenities.
During our research into the best places to buy in London, we selected the most affordable areas that combined average property prices for all property types. This way you can get the best idea of affordability, whether it’s a house or flat.
For an idea of what you can afford, use the house affordability calculator below. It will look at your ingoings’ and outgoings to provide you with an idea.
The best place to buy a house in London
According to Zoopla, the average price paid for a property in London is £735,685 as per January 2024. Such a figure is enough to price most first-time buyers out of the market. Fortunately, there are plenty of sought-after neighbourhoods in the capital where the average price is significantly less than the £735k figure. This is why many choose to live in a London commuter town.
Most people think of London as an unaffordable city when it comes to buying property. Especially if they’re a first-time buyer. While it’s true that England’s capital is expensive when it comes to house prices compared to the rest of the UK. However, it doesn’t mean that every neighbourhood is expensive. There are some cheaper places to live in London.
There is still value to be had in the capital. Those looking for a home in London needn’t feel like they have to give up the dream and compromise on a move to commuter town in order to get on the property ladder. There are still affordable areas where hopeful homeowners can lay down roots. For our research we’ve used the average property prices found on Rightmove, as per January 2024. These are the 7 best places to buy in London!
7) Redbridge, North London
Redbridge is home to one of the highest proportions of millennials in London. The district of Redbridge will also feature a stop on the Elizabeth Line (Crossrail), which will see four stations at Ilford, Goodmayes, Chadwell Heath, and Seven Kings.
The new travel links mean there will be plenty of investment in building homes in the area, which is known for its excellent schools, green spaces and parks.
Ilford, in particular, is a draw for first-time buyers with median house price averages of £380k. The introduction of the Elizabeth Line in Ilford means that residents can get to Tottenham Court Road station in a little over 20 minutes.
Average property prices in the Borough of Redbridge: £543,022
6) Bromley, South East London
Located in South East London, on spot number 6 in our top 7 of best places to buy in London sits Bromley. It is becoming somewhat of a property hotspot in the capital. Its appeal starts with convenient travel links that take around 25 minutes to get into central London. In fact, there are six train stations in Bromley. Commuting will be the last of your worries.
But it doesn’t stop there: a range of new-build properties and period homes offer a good mix of housing styles. While the high street has a selection of restaurants, bars, cafes and shops, including a large shopping centre. It’s one of only four South London towns that has been designated as Metropolitan Centre.
Average property prices in the Borough of Bromley: £542,661
5) Bexley, South East London
You will find Bexley just eight miles from Bromley. The small South East London town has plenty going for it, with Bexley Village offering charming houses and independent shops. The area is popular for many who prefer quieter living in the capital.
Bexley train station has direct lines to Charing Cross and London Victoria, both of which take around 40-odd minutes. It’s also a short drive from Bluewater, which offers plenty in the way of shopping amenities for residents of Bexley.
Average property prices in the Borough of Bexley: £478,976
4) Newham, East London
The borough of Newham put itself on the map with the 2012 Olympics. It is also well known for UEL, otherwise known as East London University, the Theatre Royal Stratford East and Stratford Circus, a popular arts venue. In 2011, Westfield Shopping Centre, which is one of the largest in Europe, opened in the borough.
Improved travel links and a location that is just a stone’s throw away from London’s financial district, Canary Wharf. This makes the borough of Newham a popular choice for young professionals. Towns in the borough include Stratford (£440k), Plaistow (£375k), and West Ham (£400k).
Average property prices in the Borough of Newham: £468,487
3) Uxbridge, West London, a place to buy in London
Famously known as the constituency for prime minister Boris Johnson, Uxbridge. It has much more than its political roots going for it. With a stop on the Piccadilly and Metropolitan lines, residents can enjoy convenient links into the centre of London. The M25, M40 and M4 are also nearby, which gives the area excellent travel links for vehicle owners.
There is a range of houses built from the 1920s onwards. These come in the form of bungalows, cottages and detached homes. Redevelopment of RAF Uxbridge brings with it the St Andrew’s Park development. It adds to the recent spate of new homes constructed in the area.
Average property prices in Uxbridge: £467,818
2) Croydon, South East London
Affectionately nicknamed The Cronx in reference to its likeness to New York neighbourhood The Bronx. Croydon has seen sweeping changes over the years. Famous brutalist architecture buildings like Fairfield Halls remain. But they’re now joined by modern residential developments. Most of which feature five-star amenities like concierge services, swimming pools and fitness centres.
Entertainment amenities are high on the agenda in Croydon. With Boxpark 2.0 opening in 2016 and providing pop-up eateries and bars. The area has also been referred to as the tech centre of South London. Thanks to the number of emerging tech start-ups setting up in the CRO postcode.
Average property prices in Croydon: £444,854
1) Barking and Dagenham, East London, best places to buy in London
On the first place in our top 7 of best places to buy in London, Barking & Dagenham! A major regeneration project is underway in the borough of Barking and Dagenham. Which will see 50,000 new homes constructed in the near future. The area happens to be one of the cheapest in the capital. Yet still offers sought-after features such as riverside living.
An increasing number of shiny new high rises are adding to the skyline. However, there is still a large number of period properties from the Victorian and Edwardian era. Recently, a new public square outside the town hall completed, offering a new shopping arcade and library.
Average property prices in the Borough of Barking and Dagenham: £399,141
Finding the best place to buy in London
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Last Updated: January 16th, 2024
