The Cheapest Boroughs to Live in London

What Is The Cheapest London Borough To Rent In Central London?

Central London is a relatively expensive place to live. This is where you will find the highest rent rates in the capital. However, there are more affordable properties amongst the expensive ones. The following Boroughs in Central London all offer excellent value to renters.

Westminster

Westminster is an expensive place to live, but also contains some of the lowest rents in London. If you look hard, you can find flats to rent in Westminster for less than £2,000 per month.

Camden

Camden is one of the most popular areas of London for renters from a range of backgrounds. Young creative types rub shoulders with City professionals throughout Camden’s bars and cafes. There are some real gems available for renters willing to look.

London has a reputation as an expensive place to live. There are certainly plenty of costly and affluent districts in the city. However, there are also plenty of affordable places to live in London if you know where to look. The UK’s capital attracts a wide range of and renters looking for a property. The circumstances of your move and your long-term plans will both impact your choice of where to live.

Below is our list of the cheapest boroughs to live in throughout London. This list takes into account the costs of renting or buying a property, as well as the costs of living in the local area. For buyers on a budget, these are the best boroughs to focus your property search on.

What Is The Cheapest Borough in London?

The cheapest London borough for you to live in will depend on your individual circumstances. For example, if you will need to commute into central London, you will need to factor in your commuting costs when assessing the price. However, irrespective of your personal circumstances, the cheapest London borough for you to live in is likely to be one of the following.

Bexley

As well as being one of the cheapest boroughs to rent in London, Bexley is also one of the most affordable areas to live. The commute to Central London takes around 45 minutes, more than reasonable for commuters. Bexley is located far enough away from London city centre to avoid the general hustle and bustle and provide a more suitable environment for raising a family. However, it is not so far away that commuters will need to spend a significant portion of their income on commuting costs.

Havering

Havering is another quiet borough on the Eastern outskirts of London. You can rent a house here for just over £1,000 per month, an excellent price for London. The centre of Havering is Romford, a bustling town with a vibrant shopping and nightlife scene. You can also get to Central London in just 35 minutes thanks to the public transport links. Once the local Crossrail station finally opens, Havering will have even better transport links to the rest of the capital.

Sutton

Located just 45 minutes away from Central London by train, Sutton offers picturesque landscapes for a little over £1100 per month on average. Sutton is one of the best Boroughs in London for raising a family thanks to its low crime rates, good schools, and open spaces. Located on the southern outskirts of London, Sutton borders Surrey to the southwest.

What Is The Cheapest Borough To Rent In London?

Rental prices in London are generally higher than the rest of the UK. However, if you look in the right area, you can find properties to rent for relatively little. If you play your cards right, it is possible to live in London without paying London prices.

Lewisham

Lewisham is one of the best places to rent in London if you are planning on house sharing. The individual asking rent is higher than in some other areas. However, you can get a 4-bedroom house in Lewisham for £2,410 per month. This works out at just over £600 per person each month in rent.

Waltham Forest

If you need easy access to Central London, Waltham Forest is a Butterworth considering. Located on the Eastern outskirts of Greater London, Waltham Forest is well served by both underground and bus routes. These public transport links make commuting to the city centre a breeze, and relatively cheap.

Bromley

If you aren’t going to be house sharing and will need to cover the rent payments on your own, Bromley is a Butterworth looking at. The area is very popular with young renters. There is also a range of shared ownership properties available and many houses that are covered by the Help to Buy London Scheme. But if you are not ready for property ownership yet, you can rent in the area for a lot less than the London average.

What Is The Cheapest Borough To Buy In London?

Buying property in London seems like a distant dream for many people. But the city has drawn people from around the country, and the world, for centuries. If you want to own property in London, these are the cheapest properties for buyers.

Barking And Dagenham

Barking and Dagenham is the cheapest place in London to purchase a property. The average property value in the borough is £300,517. This price represents excellent value for money, especially when you consider the many benefits of living in Barking and Dagenham. Transport links into central London are comprehensive, making the borough popular with professionals working in the city centre. These transport links are expected to be further enhanced by the addition of a Crossrail station and an Overground extension that are both due anytime now.

Bexley

The average house prices in Bexley are a little higher than Barking and Dagenham, but not by much. The average house price in Bexley has increased by 4.3% over the last two years. However, with average property prices of £342,993, Bexley is one of the best value areas in all of London. Transport links in the area or just as comprehensive as they are for Barking and Dagenham. Bexley is due to be connected with the new Crossrail line with services running from Abbey Wood station. However, the line is not open yet.

Croydon

Croydon’s fortunes have transformed entirely over the last couple of decades. The borough is attracting more buyers than ever, thanks to its low prices and rapidly expanding range of local amenities. With property prices of just £359,336 and easy access to Central London, Croydon has a lot to offer. House prices in Croydon have fallen slightly in the last year. However, it remains one of the cheapest and best value parts of the capital in which to invest in property.

Working Out The Cheapest London Borough For You

There are several things to consider when working out how much it will cost you to live in a borough. As well as the immediate costs of renting or purchasing property, you also need to consider your transport and commuting needs. Renting or buying a property located on the outskirts of London will save you money but could incur high costs if you have to travel to Central London regularly.

What Are The Cheapest London Boroughs To Buy Outside Central London?

If the fast-pace of life in central London isn’t for you, there are plenty of boroughs on the outskirts of London where you can buy property at reasonable prices.

Havering

Over 50% of the land within Havering has been designated as Greenbelt land, giving it legal protection against development. This protection means there’s no shortage of green space for you to enjoy, something that Central London lacks. In many ways, Havering doesn’t feel at all like London. It provides easy access to the rest of the city, though

Greenwich

As well as the eponymous Observatory, Greenwich is also home to several other important landmarks. There is a Royal Park and Naval College, both of which form the world Heritage Site of Greenwich.

What Are The Cheapest London Boroughs To Rent Property Outside Central London?

Hillingdon

Home to Heathrow Airport, Hillingdon is the second-largest of the 32 London Boroughs. Between the airport and its rail links. Hillingdon is well-connected to the rest of the country and world. This is another borough that is ideal for renters planning on house sharing. You can find a four-bedroom house for £504.50 per person on average.

Redbridge

Redbridge is a little further afield than most of the other boroughs we have covered. As a result, it is less popular with commuters than other boroughs. However, the cost of living in Redbridge is low, despite the good access to excellent schools. There are also plenty of green spaces for you to enjoy.

Living in London doesn’t have to be overly expensive. Whether you are renting or buying, you will find affordable property options throughout the city. Remember to factor in your transport and other living costs as well as the property costs when you are assessing a borough’s affordability.