Cheapest area in the UK to live: Joe Ricotta list out 7 cheapest property
You might be discouraged about your prospects of buying your first house given that the UK's average property price this year nearly crossed the quarter-million-pound threshold says Joe Ricotta. Even more so in the capital, where the most expensive housing markets in the UK at the moment include Kensington and Chelsea, Westminster, Richmond, and Camden.
Is it worthwhile to even search for a property in the capital? Is it feasible to purchase a home for under £500,000, and if so, where?
The good news is that not all boroughs and neighborhoods have similar housing costs. Below, we list the most cost-effective nearby London for property purchases.
1: Barking and Dagenham
The most affordable area to purchase real estate in London is still Barking and Dagenham. The average home price in this borough is £300,518, making it an excellent bargain. Cross-rail to Chadwell Heath and the Overground expansion to Barking Riverside are expected to substantially enhance the already excellent transportation connections into Central London asserts Joe Ricotta .
2: Bexley
At an average price of £342,993, Bexley is the second-cheapest borough, up 4.3% from March 2018. Joe Ricotta elaborates when the Cross-rail line opens, Bexley, which is bordered to the west by Greenwich and to the south by Bromley, will be serviced by services from its Abbey Wood station.
3: Croydon
Croydon's resurgence is still going strong, luring purchasers with its affordable costs says Joe Ricotta, constantly upgrading amenities, and convenient access to Central London. The average price of a property in this borough in 2019 is £359,336, which is a little decrease from prices in 2018.
4: Havering
The Havering borough has more than 50% protected Greenbelt territory. The District Line, as per Joe Ricotta, which travels west to Upminster, one of the main urban centres in the borough along with Romford, Hornchurch, and Rainham, provides access to central London.
5: Sutton
Greater London's borough with the best academic performance is Sutton. With average home prices of £368,520, it is a desirable alternative for expanding families wanting to move outside of central London's zones.
6: Greenwich
This Royal Borough is named after the Greenwich World Heritage Site, which has the Naval College, the Observatory, the Royal Park, and several other tourist attractions. With a current average property price of £372,803, Greenwich is a desirable option for purchasers as well.
7: Lewisham
Lewisham is a major district in east London that contains the well-liked residential communities of Brockwell, Forest Hill, and Sydenham as well as the trendy Deptford and historic Blackheath. The average price of properties in this borough is £397,335, and there are many lovely neighborhoods to choose from.
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