London house prices: Barking and Dagenham tops the list of the 10 cheapest boroughs in which to buy a home

A new report reveals that first-time buyers are continuing to head east and south-east to find the best value starter homes in the capital.
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There are only two London boroughs left where average house prices are still below £300,000, according to a new report.

The Land Registry figures reveal that despite recording the highest monthly increase in prices, Barking and Dagenham is still the cheapest borough in the capital in which to buy a home, with average prices of £288,809. 

Barking continues to be a firm favourite of first-time buyers thanks to good-value homes and thousands of new-build flats. This popular Essex town is just nine miles east of central London and a 15-minute commute from Fenchurch Street.  

(in reverse order)

With average asking prices of £297,507, Bexley is the next most affordable area to buy a London home, with this leafy borough continuing to attract young families priced out of more central locations. 

Highly rated local schools and good-value houses boost the family appeal of the borough's most popular areas, such as Bexleyheath, where residents can commute to offices in the City in just over half an hour.

Andrew Bridges, managing director of London estate agents Stirling Ackroyd, said: "Today’s new hubs of activity aren’t in Kensington & Chelsea – they’re emerging in boroughs such as Newham and Barking. Volumes matter as much as prices – and it’s here that there’s a greater supply of relatively affordable homes."

Newham, in east London, is the capital's fastest-rising borough, with annual growth of 15.5 per cent taking average prices to £316,045.

The royal borough of Kensington and Chelsea is home to the most expensive properties in London, despite experiencing the biggest monthly fall in prices.

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