If you’re looking for a property in the heart of London but are struggling to find an affordable option, there are many areas you can buy a house in at a fraction of the price. Prices in established neighbourhoods are notoriously expensive, so if you can’t afford to live in Chelsea or Holland Park, consider looking in a Cinderella location. These neighbourhoods are poised for a complete makeover. Barratt London and Rightmove conducted research to find the most underrated hotspots in London, revealing where to buy a property in a low-cost neighborhood.
If you’re interested in living in a borough close to a train station and still want to be close to Central London, try Enfield, a leafy north London borough. Enfield is within easy reach of the Piccadilly Line and the M25, and has plenty of shops and restaurants, including Ikea. Prices here are steadily rising, but they’re still relatively affordable compared to the rest of the capital.
The median rent in London is PS1450 per month. With a flexible schedule, you can live in a flat for PS1,000 per month, or a studio for PS1500. The most affordable flat in London was PS20,000 in 2022, a run-down property in East London’s Leyton. However, if you’re not looking for a run-down property, consider Bromley or one of the many affluent boroughs that have lower house prices.