New map shows the cheapest London areas to buy a house and where prices are falling fast

Some Greater London areas still have an average property price under £400,000

Home to some of the priciest properties in the country, most prospective London homeowners have no choice but to scrape together a hefty deposit. However, not all areas are completely out of reach, with some surprisingly affordable neighbourhoods dotted around the city.

Our new interactive map shows all the cheapest places to buy a home in London, with homes in the SE28 postcode currently selling for the lowest prices. Properties in this postcode area, which covers Thamesmead in South East London, sold for an average of £326,176 each in the 12 months to the end of July.

The tool also includes property prices for areas that border London, including some postcode areas that are technically either fully or partially in Hertfordshire. You can find the average sale price for every postcode area in the country using our interactive map.

The IG11 postcode area, which covers Barking, is the next cheapest place in Greater London to buy a home, with houses selling for £348,116 on average. The third cheapest postcode area is DA8 (Erith) with an average home sold for £351,665, RM15 (South Ockendon) with an average home sold for £352,351.

Next on the ranking list is DA1 (Dartford) with an average home sold for £352,496.

In contrast, Belgravia has the highest average sale price of any postcode area in London to have had at least 20 sales over the last 12 months. Houses sold for an average of £4,310,225 in the SW1X postcode area.

The W1K area was the next most expensive place to buy a home in our city, and the average home in Mayfair sold for an average of £4,160,689 last year.

That’s followed by SW1W (Belgravia) with an average home sold for £2,818,912, W1U ( Marylebone ) with an average home sold for £2,581,856 and W1G (Harley Street) with an average home sold for £2,511,948.

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