The average asking price for a London home is now a staggering £685,200, Rightmove revealed last month, but the type of property you can get for that sum varies wildly across the capital.
Mortgage rate hikes are beginning to have a knock-on effect on asking prices as buyers push for better deals, and more than four in 10 sellers (42 per cent) are accepting offers five per cent or more below asking price. On average, however, price reductions are currently 3.8 per cent, and it seems there has not been an immediate hit to buying power — yet.
Those seeking to haggle for a home priced below the London average will need to consider a wide range of locations and property types.
From riverside maisonettes to five-bedroom properties in deepest darkest suburbia (but still Greater London, just), we’ve found homes in every borough — all priced at or below the average asking price in the capital.
Barking and Dagenham
Chadwell Heath, £675,000
Behind its bright exterior, this three-bedroom detached house in Chadwell Heath features a loft conversion currently used as office space as well as a garage, driveway and garden. But the main selling point has to be its covered outside bar. Through Your Move Glenwood.
Barnet
Edgware, £680,000
This modern mid-terraced townhouse is close to the A41 and walking distance from Stanmore Tube stop at the northern end of the Jubilee Line. It has three bedrooms, two bathrooms and a further downstairs cloakroom. Through Gibbs Gillespie.
Bexley
Sidcup, £685,000
If you can see past the lime green external splashes and patterned internal decor, this three-bedroom home in a conservation area has a 120ft-long rear garden and good proximity to prestigious preparatory schools, according to agents Village Estates.
Brent
Wembley, £685,000
Across the rail tracks from Wembley Stadium, this semi-detached home is for sale through Robertson Phillips. The three-bedroom property has a large rear garden as well as a garage and driveway. It features a kitchen-diner and downstairs cloakroom as well as views of the Wembley arch and access to a range of transport options.
Bromley
Bickley, £685,000
This mock-Tudor detached house features five bedrooms, two bathrooms, a driveway and garden. It is walking distance to Bickley station with its rail services to central London and the Kent countryside. For sale though Browne Estates.
City of London
Moorgate, £675,000
The City has far fewer residential opportunities than other boroughs but close to the Barbican Centre is this bright two-bedroom apartment. It has a balcony, concierge service and a new lift. Through Savills.
Camden
Euston. £685,000
A short walk from Regent’s Park and walking distance to Euston station with its Tube and mainline links is a one-bedroom flat on sale via Scraye. The ground-floor apartment has a modern kitchen and bathroom as well as air conditioning and a communal courtyard.
Croydon
Upper Norwood, £685,000
Close to the lively Crystal Palace Triangle, this two-bedroom character cottage mixes exposed brickwork and retro furnishings with modern fittings. Glass doors led to a courtyard garden. It’s walking distance to Crystal Palace park and station, through Pedder.
Ealing
Hanwell, £685,000
Reduced in price in May, this three-bedroom terraced house close to Hanwell’s Elizabeth Line station has kerb appeal as well as a rear extension and loft conversion. Through Robertson, Smith & Kempson.
Enfield
Southgate, £685,000
With a 93ft-long landscaped back garden, including side access through a gate from a private driveway, this end-of-terrace house in Southgate has a large footprint. Near Southgate Tube station and the Piccadilly Line, it’s for sale through Kinleigh Folkard & Hayward.
Greenwich
Eltham, £685,000
On the edge of Sutcliffe Park and the Kidbrooke Village regeneration scheme, this three-bedroom maisonette has an open-plan living, dining and kitchen space as well as a planted balcony. It benefits from a resident-only gym and a 24-hour concierge service. Through Dexters.
Hackney
Shepherdess Walk, £685,000
This riverside apartment between Shoreditch Park and Angel Tube stop has two bedrooms and the same number of bathrooms. On the first floor of the purpose-built Angel Wharf block, the modern flat is served by a concierge. Through Ellis & Co.
Hammersmith and Fulham
Fulham, £685,000
Close to the green space of Lillie Road Recreation Ground and the banks of the River Thames, this three-bedroom home sits across two floors above what appears to be disused commercial premises. A multi-purpose living space, bedroom and bathroom are on the first level, with two further bedrooms at the top. Through Foxtons.
Haringey
Tottenham, £685,000
At 1,200sq ft, this period property is one of the roomier properties available at London’s average asking price. The three-bedroom Tottenham home has lengthy front and back gardens as well as a 23ft-long galley kitchen and spacious sleeping spaces. Close to Tottenham Marshes, it is being marketed by Nested.
Harrow
Kingsbury, £680,000
In need of an overhaul, this three-bedroom semi-detached on Kenton Road in Kingsbury offers an opportunity for the right buyer. There’s a rear garden, as well as a generous driveway and garage, the property also has scope to extend. Through Winkworth.
Havering
Romford, £685,000
Close to Risebridge golf course and the A12 in Romford, this bungalow sits on a large plot with parking for several cars. As well as a spacious lounge-diner, the property has a bathroom, kitchen and two bedrooms along with a rear garden. Listed by Beresfords.
Hillingdon
Ruislip, £685,000
A four-bedroom house for the London average asking price. Within a mile of West Ruislip Underground station, this property has a garage, garden, fitted kitchen and spacious reception room. On the market through Coopers.
Hounslow
Brentford Dock, £685,000
Overlooking the Thames and opposite Kew Gardens, this four-bedroom maisonette in Brentford Dock benefits from a marina and shared gardens with picnic area. There’s a secure garage, too. Listed this month by agents Quilliam.
Islington
Highbury Park, £680,000
Set in the historic Loxford House is a two-bedroom, first-floor apartment for sale. There’s an open-plan living room and a high-spec kitchen. The property is close to Arsenal Tube stop and walking distance to the Emirates Stadium. Through Winkworth.
Kensington and Chelsea
North Kensington, £684,995
Just off Ladbroke Grove, this one-bedroom apartment has a spacious open-plan reception and dining room, an integrated kitchen and balcony. Offering almost 580sq ft of high-spec living space in an uber-desirable area. Through Foxtons.
Kingston upon Thames
Chessington, £685,000
This four-bedroom semi-detached house in Chessington sits on a corner plot close to King Edwards Recreation Ground. It features a conservatory as well as a patio and lawn, while the driveway has space for several cars. Finished to a high standard, the property is listed by Laurels.
Lambeth
Clapham Old Town, £685,000
In Clapham Old Town, just north of the Common, a top-floor apartment is available via Orlando Reid. The three-bedroom home features a large kitchen as well as a living room and a study.
Lewisham
Sydenham, £675,000
If you’re after a doer upper, this run down three-bedroom semi in Sydenham could be just the ticket. With separate kitchen, dining and living rooms as well as divided bathroom and toilet, there is plenty of scope to reorganise as well as upgrade the property, which is walking distance to Forest Hill station. Marketed by agents Kenton.
Merton
Mitcham, £680,000
Chain-free, this terraced Mitcham house has four bedrooms and two bathrooms. Outside space comes in the form of a rear patio and lawn plus a garage and driveway at the front. Colliers Wood Tube stop is half a mile away, providing Northern Line links to central London. Listed by W Property Consultants.
Newham
Stratford, £685,000
Featuring not one but two balconies, this Stratford flat also has two bedrooms and two bathrooms. Offered leasehold it has a current ground rent of £1,197 and service charges of £2,202 a year. It’s on the edge of the Queen Elizabeth Olympic Park and West Ham’s London Stadium. Through Alexander Rose Estates.
Redbridge
Woodford Green, £680,000
This high-spec two-bedroom apartment sits in a development on the former Claybury Hospital estate. On the edge of Claybury Park, the property has allocated parking and access to communal gardens. Through Durden & Hunt.
Richmond upon Thames
North Sheen, £685,000
After going unsold at auction, a three-bedroom terraced home directly opposite North Sheen station is available through Barnard Marcus. Just north of Richmond Park, this house has an upstairs bathroom and downstairs cloakroom as well as rear and front gardens. In need of modernisation.
Southwark
Surrey Quays, £685,000
A three-storey, four-bedroom dockside townhouse in Surrey Quays. As well as Canada Water Underground station, the property is close to Greenland Dock pier and its ferries to Canary Wharf. Bedrooms are scattered on each floor of the building, with kitchen and living space in the middle. Marketed by Chase Evans.
Sutton
Purley, £679,950
With its wrap-around garden, garage, conservatory and driveway, this four-bedroom home offers a slice of suburbia. Situated at the end of a cul-de-sac between Purley and Wallington stations, it is marketed by Cromwells Estate Agents.
Tower Hamlets
Blackwall, £685,000
This fourth-floor riverside apartment has views of the Thames and the O2 Arena on the opposite bank. The New Providence Wharf flat has a balcony as well as access to gym, pool and spa. It has underground parking and access to plenty of transport links, but eye-watering £9,000 per-year service charges. Through Savills.
Waltham Forest
Chingford, £685,000
This four-bedroom semi-detached house in Chingford is for sale through Durden & Hunt. With modern decoration and fittings throughout, including a kitchen island and built-in wardrobes, the property has a rear lawn, patio and outbuilding currently used as a gym.
Wandsworth
Tooting Bec, £685,000
Featuring an en-suite master bedroom and dressing area above a spiral staircase, a high-spec two-bedroom apartment at The 1840 in St George’s Gardens sits in acres of landscaped gardens. Near Tooting Bec Tube station. Through Jamie Lester Properties.
Westminster
Soho, £685,000
Just off Carnaby Street in the heart of Soho, this compact, dated, one-bedroom flat offers just 484sq ftof living space. It’s on the seventh floor of a residential building in the West End. Covent Garden is around 15 minutes’ walk away.
