London house prices: Barking and Dagenham is the last borough with average house prices under £300,000

Latest figures reveal that the average London house price is now £500,000, and there's only one borough remaining where the average price falls under £300,000...
The latest Land Registry house price report reveals that Barking and Dagenham is the cheapest borough in the capital in which to buy a home, with average prices of £292,494. 

It's no surprise that the Essex borough, which offers 15-minutes commute to Fenchurch Street, continues to be a firm favourite of first-time buyers thanks to good-value homes and thousands of new-build flats. 

However, with annual price rises of 11.7 per cent, prices within this area are set to surpass £300,000.

INTERACTIVE MAP: DISCOVER THE AVERAGE HOUSE PRICES IN EVERY LONDON BOROUGH


The report reveals that first-time buyers are continuing to head east and south-east to find the best value starter homes in the capital.

The leafy borough of Bexley is the next most affordable area in which to buy a London home. Average house prices in the south-east London hotspot, popular with young families priced out of more central locations, passed the £300,000 mark this month and have seen annual rises of almost 12 per cent to £302,299.

Newham, in east London, is the capital's fastest-rising borough, with annual growth of 13.6 per cent taking average prices to £316,986.

REVEALED: LONDON'S 10 CHEAPEST BOROUGHS TO BUY A HOME
(in reverse order)


 

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