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
Average house price: £342,993
Average house price: £359,336
Average house price: £362,698
Average house price: £368,520
Average house price: £370,525
Average house price: £372,803
Average house price: £397,193
Average house price: £397,335
Average house price: £404,615
Average Property Price: £438,841
Average house price: £410,804
13. Kensington and Chelsea (Royal Borough)
Average Property Price: £2,042,466
Average Property Price: £1,146,916