London’s most affordable house prices

Focusing on Zones 1-6, some of the most affordable properties in the capital can be found along the District, Hammersmith & City, Suffragette, Weaver and Elizabeth lines.

In Dagenham East, and nearby Becontree and Dagenham Heathway (which are served by the District line) property prices over the past three years averaged under £350,000. All three east London areas get you into Fenchurch Street in less than 50 minutes.

Barking and Barking Riverside (which only opened in 2022) also offer some of the best value property in London with mean house prices of £358,000. Barking is particularly well-connected, straddling the District, Hammersmith & City and Suffragette lines. A commute to Fenchurch Street takes just 20 minutes.

In north London, adjacent areas Edmonton Green, Southbury and Turkey Street, all sit on the maroon parallel lines representing the Weaver line. Here, house prices average approximately £366,000, and short journey times to major train stations like King’s Cross and St. Pancras make them popular commuter hubs.

How to calculate your mortgage affordability

Looking to buy your first home? Mortgage expert at TNHG New Build Mortgage Services, Terry Higgins, explains how to work out your budget:

“Broadly speaking, mortgage lenders will lend up to five times your income (if you’re buying on your own) or five times your combined household income (if you’re buying with somebody else).

“Generally, you will need a deposit of at least 5%, although there are a few lenders and schemes that will allow a smaller or even no deposit in certain circumstances. That said, the bigger your deposit, the wider your choice of mortgage products. Plus, it will bring down your mortgage interest rate – and therefore your monthly payments.

“A good mortgage broker will do all the leg work for you, including helping you understand how much you can borrow. Strict rules govern lenders and prevent you from borrowing more than you can afford.

“But you also have to be comfortable with the repayments. It’s a good idea to sit down with a recent bank statement and look at your monthly ingoings and outgoings. This will give you an idea of your monthly affordability.”