Thinking of buying a new build in London but worried about sky-high prices? New research has revealed the boroughs where you can still get a brand new home without breaking the bank.
Forget fancy central locations, it’s all about heading to the ‘burbs! Havering, in East London, topped the charts with the most affordable new builds. Think Romford, Hornchurch and Rainham, with an average price tag of just under £300,000. That’s £1.5 million cheaper than a new build in pricey Westminster!
In second place for affordability is Enfield in North London. Areas like Edmonton, Southgate and Palmer’s Green boast an average new build price of £371,500.
Top 10 Cheapest London Boroughs for New Builds:
- Havering: £298,750
- Enfield: £371,500
- Hillingdon: £375,000
- Bexley: £379,250
- Croydon: £415,000
- Bromley: £430,000
- Lewisham: £430,500
- Harrow: £455,000
- Sutton: £475,000
- Newham: £480,000
This data, crunched by One Sure Insurance brokers, looked at the median price of new build homes across London boroughs last year. The takeaway? The further you move away from central London, the more affordable new builds become.
Outer London boroughs offer significant savings compared to the eye-watering prices in areas like Westminster, Lambeth (home to the Southbank) and Hammersmith & Fulham, where new builds easily top £1 million.
So, why are these outer boroughs cheaper? Experts point to factors like more open green spaces and ongoing urban regeneration projects.
Here’s a full rundown of average new build prices across all London boroughs:
- Havering: £298,750
- Enfield: £371,500
- Hillingdon: £375,000
- Bexley: £379,250
- Croydon: £415,000
- Bromley: £430,000
- Lewisham: £430,500
- Harrow: £455,000
- Sutton: £475,000
- Newham: £480,000
- Waltham Forest: £493,200
- Brent: £505,805
- Kingston Upon Thames: £510,000
- Greenwich: £510,975
- Merton: £512,500
- Hounslow: £515,875
- Ealing: £546,737
- Tower Hamlets: £584,300
- Barnet: £595,000
- Southwark: £595,000
- Haringey: £600,000
- Wandsworth: £650,000
- Camden: £685,713
- Islington: £751,549
- Hackney: £949,050
- Hammersmith & Fulham: £1,137,613
- Lambeth: £1,241,949
- Westminster: £1,809,875