Cheapest Places to Live in London
There’s no doubt about it. London is expensive. The price of renting a two bed flat for a month will normally reach north of a grand, and prices in upmarket areas such as Chelsea can get to a staggering £2,500 a month. It’s costs like this that consistently put London high up on the list the world’s most expensive cities to live in.
Nevertheless, those thinking of moving to London should not be put off by the price of accommodation. Its fast-paced culture, job market and diversity make London an excellent city to bring up a family and boost a career. And not all London housing costs the equivalent of buying a second hand Ford Fiesta every month. London is a huge city, with areas and prices ranging to suit anybody’s budget. Here are the cheapest places to live in London.
Maybe the cheapest borough to rent in London; an average house in Bexley will cost £1,007 a month to rent, roughly £2,000 cheaper than in London’s most expensive areas. For those looking to buy, the average house price sits at £235,000.
Located in the South East, it takes around 45 minutes to commute from Bexley to central London – perfect for anyone with a job in the city.
Not only affordable, Bexley is known for being one of the best places in London to bring up a family. This is largely thanks to its high-achieving schools. Many of which have received a 1 (excellent) or 2 (good) OFSTED rating.
Next on our list is the borough of Havering, found on the east outskirts of London. An average house here will put renters back just £1,083 a month, and houses for sale usually go for around £253,000.
From bustling Romford, a town known for its nightlife and shopping, it takes around 35 minutes to get into central London.
With the development of the crossrail set to bring Havering even closer into the London scene, now is an excellent time to invest in property in the area, as its upwards trajectory is going to be unstoppable.
Located South West, on the very opposite side of London to Havering, Sutton’s average properties are priced at around £294,000, while renters should expect to pay roughly £1,166 a month for an average house.
Despite only being a 45 minute commute to Central London, Sutton is home to picturesque green spaces and rolling hills. It also enjoys one of London’s lowest crime rates. A truly outstanding place to bring up a family.
The borough where the late great David Bowie spent most of his childhood, Bromley is an inspiring place. An average house in Bromley will cost £1,271 a month to rent, and around £341,000 to buy.
The one and only place to come under both London and Kent ‘the garden of England’, Bromley offers a quick jump to central – around 15 minutes to Victoria – along with a homely town atmosphere. The borough was also ranked as one of London’s happiest places to live. This may have something to do with the good schools and vast choice of independent shops that attract newcomers every year.
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Probably the best on the list for anyone who likes a good village. Renters in Enfield should expect to pay around £1,285, and those wanting to buy should be looking at around £300,000 for a two bedroom house.
Most of the schools in Enfield reach OFSTED’s ‘Excellent’ or ‘Good’ status.
Enfield’s connections to London are superb, with a commute to Kings Cross under half an hour, and a close proximity to to M25 making trips out of the city no trouble at all. Despite its closeness to the centre, however, the borough has retained a cute village feel, making it the perfect place for any outdoors types.
Redbridge beats the rest of our list when it comes to proximity to Central London. It is located on the Central Line, just a hop skip and a jump from the edgy Shoreditch nightlife and the newly developed Stratford (thanks to the Olympics!) This also means that living here comes at a bit more of a cost. Renting an average property would put you back £1,300 a month, and the price of buying a flat usually reaches above £300,000.
In accordance with the city, Redbridge is a diverse borough with 40% of its population coming from ethnic minority backgrounds. In spite of its closeness with London, Redbridge is where the city meets rural Essex. And this can been seen in the leafy suburbs of Wanstead and South Woodford.
Although the furthest from Central London on our list, Croydon still boasts excellent transportation links, with a train to London Bridge only taking 15 minutes. The average rent for Croydon comes in at about £1,309 a month and the price of the average flat costs around £280,000.
A certified up and comer, Croydon is making huge leaps in both the retail and technology industries. The renowned shopping centre Westfield is set to be taking up residency there in 2019, covering a huge 1.5 million square foot of retail space. Additionally, Croydon has won the reputation for a being an incubator for digital start-ups, making it a great place for young and trendy types.