5 Places To Buy Property In London As A First-Time Buyer

London is a famously expensive city to live in and buy property in, but that doesn’t mean you need an endless budget to get on the property ladder. If you’re looking to buy a home in the Big Smoke but you can’t afford to live on ‘the Monopoly board’, consider checking out these more affordable alternatives

5 Places to Buy Property in London

With a staggering average property price of £523,666 as of March 2022, London is well-known for its competitive property market and for having some of the highest house prices in the world. But while a plush pad in famously upmarket areas like Kensington and Chelsea, Marylebone or Mayfair may set you back millions, it’s still possible to get a foot on the property ladder without breaking the bank, especially in areas that are undergoing regeneration and new home development. If you’re thinking of buying a house in London, consider investing in these up-and-coming and relatively affordable areas of the nation’s capital:

1. Barking and Dagenham, East London

Perhaps spurred on by the Olympics-driven regeneration renaissance of neighbouring borough Newham, Barking and Dagenham is in the midst of rapid development. Situated in the East, the borough has fantastic transport links to the rest of the capital and has become an increasingly attractive source of affordable housing for families and professionals in recent years.

2. Uxbridge, West London

Situated at the end of the Metropolitan and Bakerloo lines within Hillingdon, Uxbridge is one of the greenest towns in London that’s considered a jewel of the West. As well as providing a much-needed breath of fresh air away from the hustle and bustle of town, you’ll also find an array of charming local attractions and community-focused amenities.

3. Redbridge, North London

With a crime rate 10% lower than the London average and an array of beautiful green spaces on display, it’s no surprise that more UK families are choosing to move to Redbridge. Although this lovely part of Ilford, North London remains relatively cheap, it’s already becoming more competitive, as evident in the significant average price rise of 5.4% over the past 12 months.

4. Royal Borough of Greenwich

Although you may know the Royal Borough of Greenwich for its famous Observatory and Prime Meridien marker, it’s also home to some fantastic properties at a reasonable rate. While it may not be the cheapest area on our list, it’s certainly one of the trendiest in 2023!

5. Bromley

Situated around 10 miles from Central London, Bromley is a much-loved town that’s still one of the best places to buy property in the Greater London area. Well-known for its shopping, eateries and outdoor activities, this is a place where you can enjoy the buzz of the capital without the headaches.