House prices in London: The 20 neighbourhoods with the cheapest homes

Getting onto the property ladder has been challenging for many years, but rising interest rates are making it even harder.

For people wanting to buy their first home during a cost-of-living crisis, the price of property in their chosen area will be a key factor to consider.

So which parts of London have the most affordable homes?

According to new figures published by the Office for National Statistics, average house prices across London vary dramatically, from Knightsbridge at the most-expensive end of the table to Croydon Central towards the other.

Across England and Wales, the cheapest neighbourhoods to buy a property can largely be found in the North East, North West and Yorkshire and the Humber.

The ONS splits England and Wales into 7,202 small areas, of which 128 have median house prices of under £100,000. The cheapest place to buy a house is Horden in County Durham, where the average property will set you back just £57,500.

Unsurprisingly, the top 20 most expensive neighbourhoods were all found in London.

The figures are based on ONS analysis of HM Land Registry data on prices paid for properties in the year to September 2022.

So how do property prices compare across London? Here we reveal the 20 cheapest neighbourhoods to buy a property.