For many aspiring homeowners in the capital, getting onto the London property ladder can feel like an impossible challenge. However, new research reveals there are still pockets of affordability for those seeking a classic terraced house.
Affordable Terraced Homes in the Capital
According to the latest Office for National Statistics (ONS) data, the average house price in London currently stands at £566,000, significantly higher than the UK average of £273,000. Despite these daunting figures, several London neighbourhoods offer entire terraced properties priced below the £500,000 threshold, providing hope for first-time buyers.
North London Gem: Edmonton
Located in the London Borough of Enfield, Edmonton has emerged as a standout for affordability in North London. The area offers direct transport links to Central London via Overground and National Rail services, with journeys taking approximately half an hour.
Recent regeneration projects have enhanced community facilities and green spaces, while vibrant local markets and schools add to the area's appeal. The average price for a terraced house here is £418,264, according to Rightmove data.
West London Opportunity: Feltham
Feltham, situated in the London Borough of Hounslow, combines affordability with strong investment potential. Approximately 14 miles from Central London, the area benefits from excellent connections to Heathrow Airport and the city centre.
Local urban renewal initiatives have contributed to price growth, with values increasing by around 5% over the past year. Rightmove reports the average terraced house price in Feltham is £434,654.
South East London Hotspots
Plumstead in the Royal Borough of Greenwich offers terraced homes under £500,000, with an average price of £445,593. The area has seen gradual improvements in transport links and benefits from community amenities including sports facilities and local markets.
Abbey Wood has experienced substantial growth, with prices jumping approximately 8% since 2022, yet remains accessible with average terraced houses costing £421,613. The Elizabeth Line has revolutionised travel times, making this area particularly attractive for commuters.
St Mary Cray and Orpington in the London Borough of Bromley offer suburban tranquillity with excellent transport connections. St Mary Cray presents exceptional value with average terraced houses at £372,122, while Orpington averages £449,758.
Eltham provides a family-friendly environment with well-regarded schools and historic attractions like Eltham Palace. Despite consistent demand, average terraced house prices remain at £491,437, keeping this southeast London location within reach for many buyers.
These six neighbourhoods demonstrate that despite London's reputation for expensive property, opportunities still exist for first-time buyers willing to explore different areas of the capital.
