If you’ve been on the hunt for an affordable yet valuable property in London, you’re not alone! Despite the city’s reputation for high prices, there are still hidden gems where you can secure great value for your money. The key to finding value lies in the combination of location, accessibility, amenities, and future growth potential. Here’s a guide to the 10 best areas in London for affordable homes with great value.
Discover where you can get a property with the best value for money
If you’ve been looking for an affordable neighborhood in London and having a hard time finding one, all is not lost. There are still some affordable hidden gems out. As well as some very convenient and up-and-coming locations.
There are many elements that give good value to a home. Of all of them, location, accessibility, size, and access to great schools are some of the most important. So, let’s find out together what our estate agents say are the 10 best areas in London for good value homes.
1. Canning Town
Economy
Major regeneration programs targeting the transformation of Canning Town’s economy and community are estimated at a whopping £3.7 billion. Plans are in place and underway for the delivery of a total of 10,000 new homes and two new town centres, one of which is Hallsville Quarter, opposite Canning Town Station.
Location
Location is one of Canning Town’s major advantages. It is part of the Newham Borough of London, in Zone 2, in close proximity to Canary Wharf. Public transport is very convenient in the area. There is a Canning Town DLR station and an Underground Jubilee Line station, as well as a future Crossrail station at Custom House.
Housing Stock and Average Property Prices
The older housing stock of Canning Town is rapidly being replaced with high-end, contemporary buildings. These new builds come complete with amenities such as gyms, swimming pools, or concierge services. Vermilion Tower and Hallsville Quarter are the most popular new residential developments in Canning Town. Property rental prices in Canning Town start at £1,500 per month and sale prices start at £200,000 for a one-bedroom flat.
Schools
The most reputable education facilities in Canning Town are:
- Mayflower Primary School
- Sir William Burrough Primary School
- St Stephen’s Primary School
- St Paul’s Way Trust Secondary School
- The Brampton Manor School
- The London Academy of Excellence
- The University of East London’s Stratford Campus
2. Barking
Economy
The regeneration company owned by Barking and Dagenham Council has plans to build a total of 50,000 new homes in Barking and create an astounding 20,000 new jobs over the course of the next 20 years. Major plans are already underway and include modern and affordable housing, investments in the economy and in building new schools and improving cultural facilities, parks, and transport.
Location
Barking is the administrative centre of the East London Borough of Barking and Dagenham and is located 9.3 miles from Charing Cross. Barking has two Overground stations in Barking and Woodgrange Park, a C2C rail station, an Underground Hammersmith & City Line station in Barking and a District Line station in Upney. There are also plans for an extension of the Overground Gospel Oak to Barking Line.
Housing Stock and Average Property Prices
The largest regeneration projects in Barking are currently being developed in the town’s centre and riverside area. Barking Riverside, built on the land of the former Barking Power Station, is one of the most notable ones. This ambitious mixed-use project will deliver a total of 10,800 new homes. Property rental prices in Barking start at £291 per week and sale prices start at £185,000 for a one-bedroom flat.
Schools
The most reputable schools in Barking are:
- Monteagle Primary School
- Rush Green Primary School
- Manor Infants’ School/Manor Longbridge
- The Sydney Russell School
- Riverside School
- Mayfield School
- All Saints Catholic School and Technology College
3. Dagenham
Economy
Once marked by the presence of the Ford industrial plant, Dagenham is now beginning to make a name for itself as a regenerated neighborhood with thriving economic development. With its own science and technology park, Dagenham is attracting more and more tech start-ups and reviving its property market with new builds and modern amenities. In addition, the southern part of Dagenham is part of the London Riverside section of the Thames Gateway redevelopment area.
Location
Dagenham is located in East London and is part of the Barking and Dagenham Borough. It’s a very accessible suburban town, only 11.5 miles from Charing Cross. Dagenham has three Underground District Line stations in Becontree, Dagenham East, and Dagenham Heathway, access to the C2C rail in Dagenham Dock station and to the TFL in Chadwell Heath station. Dagenham also has a planned extension of the DLR from Gallions Reach to Dagenham Dock.
Housing Stock and Average Property Prices
The housing stock in Dagenham is made up of affordable, semi-detached houses built in the 1960s and 1970s, as well as modern residential developments such as Beam Park with 3,000 new homes, New Road, or Church Elm Lane. Property rental prices in Dagenham start at £291 per week and sale prices start at £185,000 for a one-bedroom flat.
Schools
The most reputable schools in Dagenham are:
- Five Elms Primary School
- Becontree Primary School
- Monteagle Primary School
- Goresbrook School
- Jo Richardson Community School
- Trinity School
4. Ilford
Economy
Ilford is a dynamic area known for being one of the largest retail centres in London. It integrates old and new and hosts a vibrant, multi-cultural community. Ilford offers residents many shopping, leisure, and entertainment amenities. It has many parks, bars, restaurants, pubs, and cafes, as well as local shops on Ilford Lane and shopping centres like the Exchange Ilford.
Location
Ilford is located in Northeast London and is part of the Redbridge Borough, 15 minutes away from Central London. Ilford has TFL Rail stations in Ilford, Seven Kings, and Goodmayes and Underground Central Line stations in Redbridge, Gants Hill, Newbury Park, Barkingside, and Fairlop.
Housing Stock and Average Property Prices
Ilford’s housing stock is diverse and made up of 1930s bay-fronted homes with back gardens, Edwardian and Victorian double-fronted homes, as well as modern builds such as Ilford Retail Park – that will include 850 homes and Goodmayes Tesco – with 1,280 new homes. Property rental prices in Ilford start at £305 per week and sale prices start at £185,000 for a one-bedroom flat.
Schools
The most reputable schools in Ilford are:
- Woodlands Primary School
- Cranbrook Primary School
- Redbridge Primary School
- Seven Kings School
- Kantor King Solomon High School
- Park School for Girls
5. Beckton
Economy
Beckton started its transformation from an industrial area to a modern residential neighborhood in 1981 when it was included in the London Docklands Development Area. This massive regeneration project included the creation of 120,000 new jobs and led to a massive increase in demand for housing in Beckton. Beckton’s development continues now with the regeneration of the nearby Royal Docks area, London’s only Enterprise Zone, which includes 35,000 new jobs and 4,000 new homes. Beckton is also very appealing to young students, who appreciate its proximity to the University of East London campus.
Location
Beckton is located in East London and is part of the Newham Borough. It is just 8 miles from Charing Cross. Beckton has several DLR stations in Beckton, Cyprus, Beckton Park, and Royal Albert, as well as very good bus connections to other areas such as Canning Town, Central London, or Ilford.
Housing Stock and Average Property Prices
The majority of the Beckton housing stock was built after 1980. There are also some remaining Victorian terrace houses and new builds such as the Royal Albert Wharf – a 1,500-home project and the Royal Wharf – with 3,385 homes. Property rental prices in Beckton start at £295 per week and sale prices start at £260,000 for a one-bedroom flat.
Schools
The most reputable schools in Beckton are:
- Winsor Primary School
- Ellen Wilkinson Primary School
- Vicarage Primary School
- Kingsford Community School Specialist Language College
- Plashet School
- Brampton Manor Academy
6. Tottenham
Economy
Tottenham is currently undergoing massive redevelopment, making it one of the most promising areas for long-term investment. The Tottenham Hotspur Football Club has had a significant influence on the area’s regeneration, with the construction of a new stadium and the creation of thousands of new jobs. The local council has also launched a £1 billion regeneration project to transform the area’s town centre, providing thousands of new homes, leisure facilities, and better transport links.
Location
Tottenham is located in North London and falls within the Haringey Borough. It’s situated 5.8 miles north of Charing Cross. Tottenham has two Underground stations: Tottenham Hale (Victoria Line) and Seven Sisters (Victoria Line), as well as several Overground stations, providing excellent transport connections to the rest of London.
Housing Stock and Average Property Prices
Tottenham offers a variety of housing options, including Victorian terraces, council housing, and new builds. Some of the most exciting developments include Hale Village, a mixed-use development offering residential, retail, and office spaces. Property rental prices in Tottenham start at £325 per week and sale prices start at £300,000 for a one-bedroom flat.
Schools
The most reputable schools in Tottenham are:
- Highgate Primary School
- The Green School
- The Earlham Primary School
- Harris Academy Tottenham
- St. Thomas More Catholic School
7. Walthamstow
Economy
Walthamstow is a diverse and growing area in North East London. It has undergone significant transformation in recent years, thanks to its proximity to the upcoming Crossrail link and the regeneration of its town centre. Known for its independent shops, markets, and cultural venues, Walthamstow attracts young professionals and families looking for a mix of city life and green space.
Location
Walthamstow is located in the London Borough of Waltham Forest, around 8 miles northeast of Central London. The area benefits from excellent transport links, including the Victoria Line and Overground stations, making it easy to commute to central London and beyond.
Housing Stock and Average Property Prices
Walthamstow features a variety of housing stock, from Victorian terraces to modern flats and new builds. Property rental prices in Walthamstow start at £350 per week and sale prices for one-bedroom flats start at £300,000.
Schools
The most reputable schools in Walthamstow are:
- The Woodside Primary School
- The Walthamstow School for Girls
- Walthamstow Academy
- St. Mary’s Catholic School
8. Greenwich
Economy
Greenwich has long been known for its maritime history, but today, it’s a thriving residential and business district. Major developments, including the Greenwich Peninsula, are making the area increasingly attractive to homebuyers. The large-scale regeneration projects are bringing thousands of new homes and new businesses, as well as major improvements to local facilities and infrastructure.
Location
Greenwich is located in South East London and is 5 miles east of Charing Cross. It is well connected by the DLR, National Rail services, and the Jubilee Line.
Housing Stock and Average Property Prices
Greenwich offers a mix of Georgian terraced homes, new builds, and waterside apartments. Property rental prices in Greenwich start at £375 per week and sale prices for one-bedroom flats start at £350,000.
Schools
The most reputable schools in Greenwich are:
- Blackheath High School
- The John Roan School
- Charlton Park Academy
- Greenwich Free School
9. Croydon
Economy
Croydon is located in South London and is considered one of the best value areas for buyers looking for affordable homes. There are significant regeneration projects underway, with plans for new homes, cultural and leisure facilities, and improved transport links, particularly to the upcoming Westfield Croydon shopping centre and Croydon’s new town centre.
Location
Croydon is well connected to Central London with fast train links and offers a good balance of suburban living and city access. The property market is increasingly popular with first-time buyers and young professionals.
Housing Stock and Average Property Prices
Croydon offers affordable housing options such as 1930s semis and modern new-build apartments. Property rental prices in Croydon start at £300 per week and sale prices for one-bedroom flats start at £250,000.
Schools
The most reputable schools in Croydon are:
- Shirley High School
- St. Mary’s Catholic High School
- Old Palace of John Whitgift School
- Harris Academy Purley
10. Hackney
Economy
Hackney has seen one of the most remarkable economic transformations in London. Once known for being one of the more industrialized and run-down areas, it is now one of the most desirable places to live in London. The regeneration of old warehouses and industrial sites has brought modern developments, and the area has become a major hub for artists, tech companies, and young professionals.
Location
Hackney is located in East London and is around 4 miles northeast of Central London. Hackney is well-connected with numerous bus routes, Overground stations, and close proximity to the Underground in Shoreditch.
Housing Stock and Average Property Prices
Hackney features a combination of Victorian terraced homes, Georgian properties, and modern apartments. Property rental prices in Hackney start at £375 per week, and sale prices for one-bedroom flats start at £400,000.
Schools
The most reputable schools in Hackney are:
- The London Academy of Excellence
- The Hackney New School
- St. John & St. James Primary School
Conclusion
London may be known for its high property prices, but there are still several areas offering great value for money. From the ongoing regeneration in areas like Canning Town and Barking to the family-friendly neighborhoods in Dagenham and Tottenham, there are many hidden gems where you can find affordable properties.
These areas not only offer affordable housing options but also benefit from excellent transport links, local amenities, and ongoing investment, making them ideal for first-time buyers, investors, and families. Whether you’re looking for a trendy location in Hackney or a more peaceful suburban setting in Beckton, London still has much to offer at a competitive price.
Frequently Asked Questions
Some of the most affordable areas for buying property in London include Canning Town, Barking, Dagenham, and Tottenham. These areas offer lower property prices while benefiting from ongoing regeneration and good transport links to central London.
Good value for money in London often comes down to factors such as location, transport links, regeneration projects, and local amenities. Areas that are undergoing redevelopment or are located near major transport hubs typically offer more affordable properties with high potential for future growth.
Yes, areas like Ilford, Walthamstow, and Croydon are considered up-and-coming with affordable property prices. These neighborhoods are benefiting from regeneration efforts and improved transport connections, making them attractive options for both buyers and investors.
To find the best value properties in London, it’s important to work with an experienced estate agent who understands the local market. They can guide you through emerging neighborhoods, inform you about regeneration projects, and help you spot properties with long-term growth potential.
