The city of London is one of the most expensive in the world to live in. From rent to energy costs, everything about the capital comes at a premium. But if you know where to look, it’s possible to buy property in and around London without breaking the bank. Read on for the 5 cheapest areas to buy in London right now, so you can find your new home without breaking the bank!
1) Docklands
Docklands is one of the cheapest areas to buy in London. With its burgeoning art scene, proximity to central London and easy transport links, it has the potential to be as fashionable as it is practical. The area has great accessibility with underground and overground lines coming within a few minutes of your front door.
Plus there are excellent restaurants and galleries at which you can while away the hours on a Saturday afternoon. A riverside stroll can take you to Canary Wharf or Greenwich – both only around 10 minutes away on foot – or right across Tower Bridge into East London’s hipster neighbourhoods if that’s more your style.
2) Canning Town
Canning Town is an area of the London Borough of Newham and is the cheapest place to buy a house. It offers a wide range of reasonably priced housing, which you can find on its community’s website. If you prefer somewhere a little more active, Canning Town is only 7 minutes away from Stratford Westfield Shopping Centre.
For those looking for somewhere with access to great transport links then this is the place for you. You’ll be just 12 minutes away from Canary Wharf via DLR, or 30 minutes via Overground – perfect if you want quick access to the city centre! Another benefit of living in Canning Town is that it’s close to London City Airport.
The nearest station is 15 minutes away by bus and this service runs every 10-15 minutes during peak hours. There are also plenty of schools nearby for children who attend school as well as after-school clubs, meaning kids will never get bored!
3) Holloway
This district is also included in the cheapest areas to buy in London. Some people call it the mean streets of North London, but Holloway is now transforming from its old image. Renters can find studios for £730 a month on average, and two-bedroom flats for just £1,300. It has a vibrant mix of young professionals, families and students; art studios are popping up too.
You’ll find everything from Indian curry houses and Italian pizza joints to modern gastropubs with fusion foods. The developers have also done their part, putting up brand new apartments that seem better than many other parts of town. There’s also plenty of green space in the form of Alexandra Park, which is popular with joggers and dog walkers alike.
Old Stoke Newington Rd is one of the main shopping areas, as well as Tufnell Park Road. Every Saturday morning you can head down here for a farmers’ market, where you’ll find locals stocking up on organic fruit and veg, handmade soaps and candles, or the latest issue of Charlie Hebdo.
4) Croydon
Croydon, which is a borough in the south of the city and borders with Sussex, was one of London’s first commuter suburbs. It offers much lower prices than its neighbouring areas. Some great places to buy are Thornton Heath and Coulsdon (a village-turned-suburb just 15 minutes away from central Croydon) both offer properties for under £500,000 for four bedrooms.
If you’re looking for space but don’t want to spend too much, head to Brockley (just 20 minutes southeast of central London), where you can find houses up to seven bedrooms for around £1700,000-£25,00,000. Or if you have the cash to splash, New Addington might be the place for you.
It’s also close to central Croydon and has lots of new developments with some pretty luxurious homes on offer. If you’ve got money to burn, why not consider Wimbledon or East Sheen?
They’re popular with families who work in Central London because they’ve got some fantastic schools nearby. Finally, we’d recommend Heston as another cheaper option: even though it’s an hour out of the centre, it does offer more affordable house prices and property sizes.
5) Tooting
Tooting, a district of the London Borough of Wandsworth, is one of the more affordable areas near central London and offers spacious properties, good connections and an interesting mix of cultures. This area is conveniently located with tube stations just a few minutes away from Tooting Broadway and Tooting Bec.
The area also has three mainline railway stations that make it easier for people who work outside of London. For example, Wimbledon Station can be reached in around 20 minutes from Tooting’s nearest station. High Street shopping is within easy reach too, as well as other major retail centres like Clapham Junction and Streatham Hill Shopping Centre.
With plenty of green spaces, including Tooting Commons Park and Bushy Park Golf Course, this makes a fantastic place to live. There are also lots of supermarkets nearby including Tesco Express, Sainsbury’s Local and Lidl (with 24-hour opening hours).
Conclusion
Now that you know the five cheapest areas to buy in London, it’s time for you and your family or friends to put a plan together and find out what you’re going to do. It’s not a good idea to rush into anything. But if you have an idea that is good enough, now is the time to make it happen!
There are many advantages to living in any of these five cheapest areas to buy in London. So it all depends on what you’re looking for and what type of lifestyle will work best for you. There are many options for houses and flats available, depending on the size of your family or the number of people with whom you want to live.
For Sales & Booking:
UK Office Address: 88-90 Goodmayes Road, Goodmayes, IG3 9UU, UK
Feel Free to contact us:
+44 798380 4244
Info@propertybuy-rent.co.uk
