How to buy a property in London? - Things you should consider!

property in London

Buying a property in London is one of the biggest investments of your life, particularly when house prices are considerably higher than most places in the World However over time they have proven to be great investments.

With a population of more than 8.6 million, London is a densely populated metropolis with a melting pot of multi-ethnic residents from all over the world.

With so many people looking for accommodation in London, the housing market is very competitive for both renting and buying a London property. 

If buying property in London is your dream, then, you need to research the market thoroughly to track down your dream home and buy it at the most appropriate price as prices across the capital can vary significantly.

How to find a property for sale in London?

Whether you want to buy a house in London’s quieter places with a postcard view, or need help to buy London properties in some of the busy areas, this simple guide will help anyone leaping on the housing ladder or relocating to the capital.

Property Prices in London

The average price for property in London stood at £647,488 in the month of June 2019. This is a rise of 0.68% in the last three months (since March 2019) and fall of 2.36% since 12 months ago.

Last year most property sales in London involved flats which sold for on average £536,388. Terraced properties sold for an average price of £671,484, while semi-detached properties fetched £654,423.

Where to buy a property in London?

Take a look at the cheapest places to buy a property in London. This shows the most affordable London boroughs and average house prices latest by June 2019.

1.      Barking and Dagenham

Average house price: £300,517


2. Bexley

Average house price: £342,993

3. Croydon

Average house price: £359,336

4. Havering

Average house price: £362,698

5. Sutton

Average house price: £368,520

6. Newham

Average house price: £370,525

7. Greenwich

Average house price: £372,803

8. Enfield

Average house price: £397,193

9. Lewisham

Average house price: £397,335

10. Hounslow

Average house price: £404,615

11. Lewisham

Average Property Price: £438,841

12. Hillingdon

Average house price: £410,804

13. Kensington and Chelsea (Royal Borough)

Average Property Price: £2,042,466

14. Westminster

Average Property Price: £1,146,916

letsbid report