With the state of current house prices, mortgage rates and the cost of living, enjoying the London dream as a homeowner can feel like just that, a dream.
But all is not lost. Here is a list of the most affordable spots in and around London you may not have considered.
From leafy suburbs to built-up spots outside of the centre, there’s someting for everyone eyeing up the daunting property ladder.
Purley
You get the best of both worlds in this leafy suburb in Croydon, London’s most southerly borough.
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Croydon town centre, retail parks and an Ikea superstore are minutes away, and you can stretch your legs while enjoying the views in wild green spaces such as Happy Valley Park or Farthing Downs, and unwind with a pint in a traditional pub.
If you prefer long-distance walks, explore the North Downs Way from Caterham, just one stop from Purley on the line linking London and Brighton.
Where to buy
Outdoor space is taken seriously at Fount Spring Place in CR8, as each of the one and two-bedroom shared ownership homes comes with a balcony or terrace, along with a communal courtyard, gardens and an under-fives’ play area.
From £76,250 for 25 per cent of £305,000, shnewhomes.co.uk
North Acton
Move to the most affordable part of fashionable Acton and you’ll have supermarkets, sports facilities, restaurants and the Grand Union Canal on the doorstep.
You’ll live five minutes along the Central line from Ealing Broadway and just over half a mile from Acton Main Line station, on the Elizabeth line.
North Acton is destined for great things as it’s on the edge of the Old Oak and Park Royal regeneration area, set to create a new town across Brent, Ealing and Hammersmith & Fulham with 25,000 homes and a rail superhub.
Where to buy
One and two-bedroom shared ownership flats have recently been released at SO Resi North Acton in W3, all with private balconies and access to a residents’ roof terrace, gym, lounge, play area and concierge.
From £115,000 for a 25 per cent of £460,000, sharedownership.co.uk
Brentford
Given its location next to Chiswick and the Thames, and across the water from Kew, it’s no wonder that Brentford is such hot property.
Major investment has brought a revitalised high street and waterfront, new cafés and eateries, a new stadium for Brentford FC and thousands of new flats to this previously industrial area.
Brentford and Kew Bridge stations have services to Waterloo, or jump on a bus to pick up the Piccadilly, District and Mildmay lines.
Where to buy
At Post House in TW8, a former sorting office has been transformed into a collection of shared ownership flats with balconies and flooring fitted throughout.
One, two and three-beds start at £98,750 for 25 per cent of £395,000 and applicants with a local connection to the London Borough of Hounslow are given priority, sales.sng.org.uk
West Ham
Canary Wharf, the City and Stratford are all less than ten minutes by Tube from West Ham, one of the best-connected and most affordable areas in Zone 2.
If it has escaped your attention, that’s because until recently there wasn’t much interest but now an entire new neighbourhood is taking shape.
TwelveTrees Park will include a park, offices, science school and more than 4,700 homes.
Where to buy
Reserve a one or two-bedroom shared ownership at West Ham Village, E15, within TwelveTrees Park and you could be getting the keys much sooner than you think. Ready to move into, they are a five-minute walk from five Tube and train lines.
From £108,125 for 25 per cent of £432,500. peabodynewhomes.co.uk
Kidbrooke
If you’d love a south-east London address but Greenwich or Blackheath are beyond your reach financially, check out Kidbrooke – in particular Kidbrooke Village, a thriving new village with a strong community spirit.
Only 16 minutes from London Bridge, it has a new station, a rewilded park and a village square where a regular farmers’ market and other events take place.
In a survey, more than nine out of ten residents said that they feel they belong in the neighbourhood. It will eventually feature more than 5,400 homes, of which around 40 per cent will be affordable.
Where to buy
Among these new and affordable homes are one and two-bedroom shared ownership flats in Laney House, featuring high-spec, light-filled interiors.
Shared owners can opt in to use the pool, gym, cinema and other facilities in The Clubhouse, an on-site private members’ club.
Prices from £39,500 for a minimum ten per cent share of £395,000, nhghomes.com
Harrow
It used to be seen as predominantly a family-focused area but with thousands of new flats already delivered or under way, Harrow has flung open its doors to singles and couples too.
Commuting is a breeze from Harrow-on-the-Hill, which is on the Metropolitan line or 15 minutes by train to Marylebone, though locals have everything they need on the doorstep – shopping and sports centres, parks, pubs and clubs, plus history and culture in the oldest part, around the world-famous Harrow School.
Where to buy
The one-bedroom flats at Sheepcote Road in HA1 are designed to maximise space and light, with tons of built-in storage, high ceilings and oversized windows, plus communal areas including courtyard and rooftop gardens, an allotment and co-working lounge.
Priced at 20 per cent below the local market value, they start at £274,000, pocketliving.com
Hendon
There’s something for everyone in this corner of north-west London. In the case of those looking to buy for the first time, that means an impressive array of new-builds coupled with an increasing range of amenities.
The majority of new homes are in West Hendon, convenient for supermarkets, gyms, Bang Bang – London’s largest Asian food hall – and sailing and windsurfing on the Welsh Harp Reservoir.
The Northern line at Colindale and Hendon station, for Thameslink trains, are in easy reach.
Where to buy
Square Roots Hendon, in the heart of the action in NW9, consists of 244 studio, one, two and three-bedroom flats and duplexes with private outdoor space, landscaped gardens and play areas.
Prices start at £73,125 for 25 per cent of £292,500, squareroots.co.uk
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