The average London home now costs £526,000, but it’s a figure that doesn’t paint a full picture of the market. In every corner of the capital, there are homes asking for less than half that price.
Though these studio flats and one beds tend to be short on square footage, they are often many times cheaper than the mean — we found one property in the City of Westminster with an asking price a sixth of the price of the average home in the borough.
In the interests of parity, we’ve excluded shares of homes and retirement schemes, auction lots and properties with fewer than 80 years left on the lease (any fewer and mortgage providers can be reluctant to lend). We’ve also avoided any properties that are only accepting cash buyers — everything is available to anyone able to secure the requisite mortgage.
Here is our list of the cheapest properties for sale in every London borough, all below the new stamp duty threshold too.
Barking and Dagenham
Average price: £376,815
This one-bedroom fifth floor flat is a ten minute walk to both Barking Park and the well-connected interchange station. For £175,000.
Through British Home Sellers, 01727 861580
Barnet
Average price: £721,405
Located on the top floor of a quiet modern block, this studio flat is offered chain free at £176,000. Nearby New Barnet station connects to King’s Cross and Moorgate.
Through Purple Bricks, 0800 810 8008
Bexley
Average price: £482,961
This studio flat, which has a separate kitchen, is situated on the south-eastern fringes of the capital with quick access to the M25. For £140,000.
Through Pro Estates, 01474 333777
Brent
Average price: £644,562
Well located for the Jubilee and Metropolitan lines at Wembley Park station, this one bedroom flat has access to communal gardens. For £200,000.
Through Smith Melzack, 020 8908 4633
Bromley
Average price: £635,996
This studio flat, which is listed at £155,000, is at the top of an attractive period home in Penge. A large Sainsbury’s is moments away.
Through Foxtons, 020 8772 8080
Camden
Average price: £1,035,991
While the average asking price in the borough of Camden tops £1 million, this renovation project in a smart 1930s mansion block in Bloomsbury is listed for £249,000.
Through Frank Harris & Co, 020 7405 4444
Croydon
Average price: £494,277
This studio apartment occupies the top floor of a period property near Thornton Heath station, which has direct links into London Bridge and Victoria. For £150,000.
Through Haart, 0345 899 9999
Ealing
Average price: £610,461
On the market for £139,950, this studio flat has a separate kitchen and quick access to the open green spaces of Horsenden Hill.
Through Foxtons, 020 3841 4300
Enfield
Average price: £509,076
Offered chain-free, this studio apartment in Edmonton is close to the Meridian Water regeneration project and the River Lea. For £170,000.
Through Bairstow Eves, 020 3369 4265
Royal Borough of Greenwich
Average price: £502,996
This studio flat is situated directly on Plumstead High Street, within a modern block of eight apartments. It’s chain-free at £140,000.
Through Hunters, 020 8311 1000
Hackney
Average price: £712,383
Well-placed for the best of Hackney, this larger-than-usual studio on buzzy Hackney Road is listed at £220,000. The Shoreditch triangle is two minutes away.
Through Sell My Home, 020 3875 7000
Hammersmith and Fulham
Average price: £987,175
Five minutes from Westfield, this bijou flat occupies the top floor of a Victorian conversion in Shepherd’s Bush. At £225,000, it’s less than a quarter of the average price in the borough.
Through Dexters, 020 8740 2900
Haringey
Average price: £669,378
This bright studio flat is on the Harringay ladder, moments from the bars and restaurants of Green Lanes. It’s listed at £175,000, without a chain.
Through Philip Alexander, 020 3889 1414
Harrow
Average price: £631,546
Located on a leafy residential road, this well-planned ground floor studio has a separate kitchen, off-street parking and a handy storage area. For £200,000.
Through Brian Cox, 0208 912 0006
Havering
Average price: £483,814
This studio apartment with parking and no onward chain is situated on a quiet no-through road. The District line at Hornchurch Station is five minutes away. For £170,000.
Through Readings, 01708 437766
Hillingdon
Average price: £553,773
This studio flat has a separate kitchen and residents parking, plus quick access to the M25, M4 and Heathrow Airport. For £140,000.
Through Hunters, 020 8848 0978
Hounslow
Average price: £608,003
Close to Bedfont Lakes Country park, this studio apartment has French doors that lead out to a small patio. It’s chain-free at £149,950.
Through The Frost Partnership, 020 8890 4225
Islington
Average price: £800,979
On the first floor of a Victorian conversion, this studio flat is within five minutes of the Northern line at Archway station and the overground at Upper Holloway. For £220,000.
Through Kinleigh Folkard & Hayward, 020 8131 4280
Kensington & Chelsea
Average price: £1,656,836
In London’s most expensive borough, this studio in a low-rise block is on sale for £240,000. The balcony has a green outlook onto communal gardens.
Through Strike, 0333 103 8390
Kingston upon Thames
Average price: £691,194
This one-bedroom apartment, on sale for £205,000, has hardwood floors in the living room and bedroom. It’s close to Chessington North station for trains into Waterloo.
Through Compass, 020 3879 5785
Lambeth
Average price: £674,791
Within a gated development in Streatham is this studio apartment with its own entrance. On sale for £180,000, it’s within walking distance of Streatham Hill station.
Through Barnard Marcus, 020 8769 9393
Lewisham
Average price: £523,643
In up-and-coming Catford, this one bedroom apartment has off-street parking and easy access to both local stations. For £200,000.
Through Foxtons, 020 8432 7200
Merton
Average price: £739,582
In a quiet cul-de-sac on the edge of Morden Hall Park, his one-bedroom apartment has a walk-in storage space and access to a communal garden. For £200,000.
Through Stirling Ackroyd, 020 3911 1678
Newham
Average price: £468,865
The cheapest property for sale across all boroughs, this studio flat for sale for £125,000 is close to the Elizabeth Line at Manor Park station.
Through First Contact, 020 8911 8787
Redbridge
Average price: £524,465
This seventh floor studio apartment comes with an underground parking space and storage lock-up, plus access to landscaped communal gardens. For £175,000.
Through Bairstow Eves, 020 3369 4259
Richmond upon Thames
Average price: £909,579
Located on the main road in village-like East Sheen, this top floor studio has a wealth of storage space in the eaves. For £229,950.
Through Stuart Mackenzie, 020 8876 4445
Southwark
Average price: £652,256
This fifth floor one-bedroom flat is close to the heart of Camberwell, and within walking distance of Burgess Park and Kennington Park. For £190,000.
Through Express Estate Agency, 0333 016 5458
Sutton
Average price: £545,223
This studio apartment, on sale for £150,000, comes with its own garage. It’s a short walk from well-connected Sutton station and pretty Manor Park.
Through Haart, 020 4512 8375
Tower Hamlets
Average price: £594,076
Within walking distance of four stations, including Canary Wharf for the Jubilee line, this studio flat has a separate kitchen and access to communal gardens. For £225,000.
Through Express Estate Agency, 0333 016 5458
Waltham Forest
Average price: £561,227
This bright studio flat in the heart of Walthamstow village has been listed for sale for £140,000. Offered chain-free, it’s well located for the shops and restaurants of Lea Bridge Road.
Through Estates East, 020 8520 9300
Wandsworth
Average price: £845,862
This studio apartment is located above a stretch of shops on Mitcham Lane, with quick access to Streatham Common station and Tooting Commons for the lido. For £175,000.
Through Barnard Marcus, 020 8769 9393
City of Westminster
Average price: £1,466,768
In the capital’s second most expensive borough, this recently refurbished studio flat is on sale for £215,000. Queen’s Park station is five minutes away.
Through Strike, 0333 103 8390
