Cheapest London postcodes revealed
Analysis of sales data shows SE28 as the most affordable area to buy a home in the capital.
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The SE28 postcode area, which includes Thamesmead, has been identified as the least expensive location to purchase a property in London. Data covering the 12 months up to the end of August shows an average sale price of £327,486 within this postcode.
Affordable areas
London house prices: Kensington and Chelsea least affordable
Analysis shows average property price in Kensington and Chelsea is 17.3 times average earnings.
Following SE28, the DA8 postcode area, which covers Erith, emerged as the second most affordable, with an average home price of £348,468. Other areas with low average property prices include IG11 (Barking) at £350,162, DA1 (Dartford) at £350,346, and DA17 (Belvedere) at £351,811.
Most expensive locations
In contrast, Belgravia, within the SW1X postcode area, recorded the highest average sale price. For postcodes with a minimum of 20 sales over the past year, Belgravia's average price reached £4,725,343. The W1K postcode area, covering Mayfair, was the next most expensive, with an average home price of £4,221,003.
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Further analysis of the most expensive areas shows W1U (Marylebone) with an average sale price of £2,677,740, SW1W (Belgravia) at £2,612,641, and W1G (Harley Street) at £2,446,586.
Questions this report answers
+What is the cheapest postcode area to buy a home in London?
The SE28 postcode area, which includes Thamesmead, is the cheapest place to buy a home in London. The average price for a property in this area was £327,486 over the 12 months to the end of August.
+Which postcode area has the highest average property price in London?
Belgravia, within the SW1X postcode area, has the highest average sale price for London postcodes with at least 20 sales. The average price reached £4,725,343 over the 12 months to the end of August.
+What is the second cheapest postcode area in London?
The DA8 postcode area, which covers Erith, is the second cheapest place to buy a home in London. The average sale price in this area was £348,468 for the 12 months up to the end of August.
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