Where is the cheapest place to shop in London in 2023?

Monday April 03, 2023 5:13 pm

With the OBR expecting property prices to drop 10 percent this year, first-time buyers are tentatively hoping that 2023 will be the year they can finally afford to climb the property ladder. But with the London property market still too active for many young buyers, what is the best district to buy?

We asked the team of mortgage experts at onlinemortgageadvisor.co.uk to break down average house prices in each London borough – here are the 10 most affordable places to live in London as of January 2023.

10. Hillingdon – £467,411

Hillingdon is in the heart of West London. With a multicultural community, it is home to award-winning parks, including the scenic Colne Valley Regional Park, which is a nature lover’s paradise. Hillingdon’s High Street offers a mix of independent boutiques and popular high street shops, making it a popular shopping destination. All in all, Hillingdon effortlessly blends modern city life with a rich history and culture, making it on our list of the 10 cheapest boroughs for property prices.

9. Enfield – £463,926

Enfield is renowned for its rich history, with attractions including the Grade II listed Forty Hall and Gardens and Whitewebbs Transport Museum providing insights into the area’s past. Enfield is also a foodie’s paradise with a vibrant and diverse culinary scene that encompasses everything from Indian street food to Italian delicacies.

8. Lewisham – £462,198

Lewisham, located in South East London, boasts an impressive range of shops, bars and restaurants along with a thriving arts scene. Lewisham also offers plenty of green space to explore, including Mountsfield Park and Ladywell Fields. The area was a key site during World War II, and many of the original buildings still stand. With excellent transport links to the rest of London, Lewisham is a vibrant and exciting place to live and work.

7. Sutton – £445,079

Located in South London, Sutton city center is home to many shops, restaurants and cultural attractions including the Sutton Theater and the Honeywood Museum. The district is home to several beautiful parks and green spaces, including historic Sutton Green and Beddington Park. Travelers will appreciate the area’s excellent transport links, including several National Rail stations and easy access to the M25.

6. Greenwich: £445,079

Located on the banks of the River Thames, the London Borough of Greenwich is a true gem. This historic destination features attractions including the iconic Cutty Sark ship and the Royal Observatory, where visitors can stand on the Prime Meridian Line. Stroll through the stunning Greenwich Park or explore the bustling Greenwich Market, packed with artisan food and unique crafts. The O2 Arena, a world-class entertainment venue, attracts renowned artists and events throughout the year. Plus, with easy access to central London via the tube, Greenwich is a great location for those working in the city.

5. Croydon – £434,426

Croydon has excellent transport links with the rest of the city and is a popular destination for professionals and families alike. The area is home to a variety of notable attractions including the historic Croydon Clock Tower and the modernist Fairfield Halls theater complex. It has a wide variety of shopping options, from high street brands to independent boutiques. Residents can enjoy the outdoors at nearby Addington Hills or Wandle Park, while foodies can indulge in cuisines from around the world.

4. Havering – £434,331

Havering, located in the northeast of the city, has much to offer to locals and visitors alike. The district boasts a mix of historic charm and modern conveniences, including a variety of shops, restaurants, and cultural attractions. It has an abundance of green spaces and parks, including the sprawling Hornchurch Country Park, which provides a welcome retreat from city life.

3. Newham: £432,094.58

Newham, located in East London, is home to everything from the trendy cafes of Stratford to the beautiful greens of Queen Elizabeth Olympic Park. The district has played an important role in London’s history, being the home of the 2012 Olympic Games. Visitors can learn about Newham’s past at the local museums and galleries, or explore its thriving contemporary art scene.

2. Bexley – £401,801.52

Bexley, located in South East London, offers a charming mix of suburban living and green space, as well as the second cheapest median property price. It has a variety of parks, including Danson Park and Lesnes Abbey Woods, perfect for a leisurely stroll or family picnic. The area is also home to iconic landmarks such as the Bexleyheath Clock Tower and the historic Hall Place and Gardens. For shopping, there is the Broadway Mall and a variety of high street and independent stores. The area also has excellent schools and is well connected with reliable transport links to central London.

1. Barking and Dagenham – £353,635

Located in East London, Barking and Dagenham boasts the cheapest property prices in London. From the historic Barking Abbey to the bustling markets of Dagenham, it offers a unique mix of old and new. Take a walk along the River Thames or visit the award-winning Valence House Museum to learn about the rich history of the area. For sports enthusiasts, the district is home to the world famous Dagenham & Redbridge FC and the state of the art Jim Peters Stadium.


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