Buying in London: How much home can I afford?

London’s property market

London's property market is versatile and changes significantly from one neighbourhood to another.

According to the UK House Price Index, as of November 2025, the average house price in the UK is £271,188. UK property prices have also risen by 0.3% compared to the previous month, and by 2.5% compared to the previous year.

House prices in London

The average house price in London, as of November 2025, is £553,258, below is a breakdown of price by property type.

• Detached houses - £1,158,316

• Semi-detached houses - £717,235

• Terraced houses - £635,862

• Flats and maisonettes - £432,744

The most affordable areas to live in London

Below are some of the more affordable areas in London for buying a house.

1. Plumstead

Average house price over the last year according to Rightmove: £439,292

A thriving borough in southeast London, Plumstead in Zone 4 is among London’s cheapest areas for buying a house. Located a stone’s throw from the Elizabeth line at Woolwich, it offers superb commuting links to the City. Plumstead Common is ideal for families looking for large detached properties.

Plumstead has direct train services to Charing Cross, which take about 40 minutes. There are also many excellent schools here, including Ofsted’s top-rated Bannockburn Primary School.

2. Deptford

Average house price over the last year according to Rightmove: £438,875

Highly popular among first time buyers, Deptford’s property market offers a mix of large Victorian houses and new build developments. Found in London’s Zone 2, it boasts award-winning pubs, cafés and restaurants, as well as multi-use art spaces, traditional breweries and quirky vintage shops.

This neighbourhood offers excellent transport links, being located on the Docklands Light Railway (DLR) line. Its train station operates services to London Bridge every 15 minutes.

3. Barking and Dagenham

Average house price over the last year according to Rightmove: £372,870

Barking & Dagenham in Zone 4 strikes the perfect balance between urban and rural living. Its new regeneration project – Barking Riverside – promises state-of-the-art accommodation, sports facilities, leisure centres and riverside walks. As part of this, a new overground station was opened to connect East London and North London.

Barking and Dagenham boasts 25 parks and gardens as well as a nature reserve, perfect for escaping the capital’s frenzy. It also has plenty of restaurants, cafés and shops to suit all tastes.

4. Erith

Average house price over the last year according to Rightmove: £350,658

Sitting between South East London and Kent, Erith in Zone 6 is a brilliant place to call home. It benefits from easy access to Cannon Street in central London and is a stone’s throw from the beautiful Kent countryside and coastline.

Most of Erith’s housing stock was built in the 1960s. Today, it offers modern townhouses and apartments and excellent amenities for homebuyers.

5. Belvedere

Average house price over the last year according to Rightmove: £356,605

Located in southeast London, Belvedere is a charming town within the Borough of Bexley in Zone 5. It enjoys vast green spaces, such as Lesnes Abbey Woods and Frank’s Park, as well as beautiful riverside walks. It also boasts excellent transport links to the capital, being located next door to the Elizabeth line at Abbey Wood.

If you enjoy walking, the Green Chain Walk provides opportunities for relaxing strolls between the River Thames and Crystal Palace Park.

Looking to buy your new home? Discover our brand-new homes and flats in and around London. We also have unique homebuying offers to help you move.

Call or visit our Sales Advisers today to find your new property.