With an average home price of £542,311 – London is the most expensive city in the whole of the United Kingdom when it comes to housing. In comparison to the whole of the UK, house prices in London are 71% higher, making the city’s prime locations far too expensive for many looking to live in the capital.
While Zone 1 is reserved for those with millions of pounds to their name, that’s not quite the case for Zone 2, which is still in very close proximity to the London city centre. With that said, finding an affordable home in Zone 2 isn’t as easy as one might think, so knowing where to look is important.
In this article, we’ll go over the top 10 most affordable areas in London’s zone 2. We’ll also provide you with all the necessary information you should know such as how long it takes to reach Zone 1 and the average property price in the area.
Bromley by Bow
The first entry on our list is Bromley-by-Bow. Located in East London, between Canary Wharf and Stratford, the average property price in Bromley by Bow is £329,700. While this is considered a rural London area, Bromley-by-Bow is seeing a lot of developments, which is why many experts see this as one of London’s up-and-coming hot spots outside of the city centre.
On top of that, Bromley-by-Bow is known as one of the cleaner and greener areas of East London. So, you still get many benefits of living near the city, without worrying about constant noise and air pollution getting in the way of your quality of life.
Additionally, this area has great aesthetics. With pastoral landscapes and historical buildings left and right of the borough, it’s easy to call this place home. You won’t run out of things to do in this area, and considering the average home price, it’s easy to see why this is an attractive area for anyone looking to move into zone 2.
Stratford, which is right above Bromley by Bow is another affordable location with house prices averaging around £340,000. Thanks to the 2012 London Olympics, the entire area is now completely transformed – making it one of the liveliest and most vibrant in East London. Some of the best areas to look for a property right now include East Village, Stratford Central, and New Garden Quarter.
North Acton is a bit more expensive than our first two entries. But with an average home price of £384,626, it’s still much more affordable than Central London and other affluent areas in Zone 2. When you move into North Acton, you can expect to live a convenient life. With the centre of the West End just a 25-minute rail ride away, North Acton is one of the best places to live if you need easy access to London’s central areas.
On top of that, North Acton is a lively district. While you can still expect peace and quiet, the area also offers many things to do. With tons of cafes, restaurants, and shops, you’ll never be left without anything to do.
New Cross is a great district if you’re looking for an affordable social neighbourhood in London’s Zone 2 without having to spend upwards of half a million pounds on a house. This district is full of creatives, independent and small businesses, and unique hangouts for you and your friends. With the New Cross and New Cross Gate Stations conveniently situated in the area, you also won’t have a hard time getting to other areas in London.
The average house price in Stepney Green is around £396,254. So, it’s a very affordable place compared to the rest of London, especially in Zone 2. That said, this is more of a residential area compared to other East London districts.
While there are a few shops, restaurants, and cafes for you to visit, it’s a bit quieter than in other areas. This is great if you’re looking for a more relaxed place to start your London life without spending a ton of money on your property. Stepney Green is very family-friendly and offers a very wholesome living experience. So, if you want to live in a relaxing part of London’s Zone 2, Stepney Green might be worth considering.
Situated just North of the Canary Wharf and East of central London, Mile End offers its residents a rich culture with many things to do all the time. Some people even claim it’s like the heart of London, just less expensive. And to an extent, there’s some truth to it. The average house price in Mile End is £401,000, which is around 25%-30% cheaper compared to other parts of London.
New Cross Gate
If you want to buy a house in New Cross Gate, expect to pay an average of about £406,048. This is well below the average house price in London and gets you into a pretty decent neighbourhood. Granted, it doesn’t have grand and majestic sites like other London areas, but it does offer a very convenient location in the South East part of London.
The average house price in Bow Road is £408,770, and while the house prices are definitely a bit steeper compared to other cheaper areas in Zone 2, Bow Road is located in just the perfect place. Situated on the A11, you can get on the edge of the city of London and other parts of London by car without a problem.
Canada Water offers a great balance between peaceful living and access to city life. This area is a bit quieter than other London areas, but it still offers many things to do and easy access to the main city through the Rotherhithe line. On top of that, the average home price here is £431,309, which is still more affordable than in many other areas in London.
And last but not least, we’d like to present to you Surrey Quays. Though the area is mostly populated by flats, it’s a beautiful area to live in. The average property price in this area is £431,600 – making it the most expensive on our list but way cheaper than the London average.
What’s great about Surrey Quays is that the area is always in high demand. If you ever come to a decision to sell your house fast, you won’t have any trouble finding a buyer – even in today’s booming market.
The Best of London’s Zone 2
London’s Zone 2 is a great place to live. You get a fine balance with ‘rural’ London while being in close proximity to city life without spending half a million pounds on a property. While property prices in more central locations can be £100,000 – £150,000 lower, it’s not unlikely for you to find properties as low as £350,000 in the area.
So if you’re looking to start living close to London but not too far out, consider the locations above and start your house shopping today.