Where to Find Affordable Housing in London in 2021
With the current world situation, buying a house seems to be the least priority for many people. This could be because of a number of reasons. But looking at the latest property statistics in several parts of the UK, you’d think that buying a house these days is almost impossible. In London alone, the average home in the capital costs more or less 11 times the average London salary.
The good news is, those statistics hide a couple of micro-markets all around London that you could target if you’re really planning on owning a piece of London property. All you have to do is do some research and house hunting. In fact, in every Tube zone, you’ll probably find a few promising options. Here are some possible best-value areas in London where you can buy a house.
If you’re looking for an area with affordable flats, then Bow Road might be a great option. You’ll have a hard time finding a place like Bow Road, which is an unreconstituted slice of old fashioned East London that has not been regenerated yet. The average price for a flat here is around £380,000. The area is brimming with new homes below the £400,000 range, and there are plenty of cheaper ex-local authority options.
If you’re looking for a house, then East Acton might be a better option for you. The area sits between Wormwood Scrubs and Western Avenue and is known to have a couple of boxy post-war houses. The area is near central London and the Central Line. You’ll also find a couple of good local schools that are perfect if you want to raise a couple of kids. The average price of a house in East Acton is around £500,000-£600,000.
In the past decade, Tottenham Hale has been the focus of the construction of quite a lot of new buildings. Despite that, you’ll still be able to find a purpose-built two-bedroom flat for less than £300,000. The area is being primed to be a hub for shops and office spaces, due to Argent Related’s proposed £500 million project for a new town centre. You should invest in a flat before the prices start to climb once the project is completed.
In another corner of London, West Ham sits perfectly near the District and Hammersmith & City Lines. It also has great schools well regarded by Ofsted, which is great news for parents and parents-to-be. You’ll find houses in the West Ham area at an average price of about £430,000.
What’s great about Barking is you’ll find flats at around half the London average and houses less than the average first-time buyer spends on a starter home. If you prefer living in East London, then Barking is for you as it sits at the confluence of the rivers Thames and Roding. The area also has good transport links, good schools, and of course, affordable housing. Flats go for around £200,000, and a typical house will go for around £400,000.
In this day and age, it’s almost impossible to find houses and flats at reasonable prices in London but it can be done. Take advantage of the areas in this list and find the perfect place for you and your family without breaking the bank.
If you’re planning to buy a property in the UK, you’ll need a reliable conveyancing solicitor to work with you. Conveyancing Supermarket is here to help you find the right conveyancing solicitor within your budget. With our fixed fee conveyancing online quotes, you can compare fees easily whether you’re buying or selling a property. Contact us today to get started!