Buying a home in London has become very tricky for a lot of people because of high prices. In fact, Rightmove and Zoopla say the average house price at the moment is over £680,000. However, research considering figures from March shows there are still a number of more affordable locations. You can buy in those spots for less than £300,000. We want to have a look at them today, including an area with some of the most affordable investment properties in Redbridge.

A difficult location

The problem when you look at the average house price for London as a whole is that it gets skewed massively by some very expensive areas. For example, there are prime spots like Westminster and Kensington and Chelsea where many homes cost well over £1m. It drags the whole average for the city up.

Luckily, there are still some affordable areas. Many are in Outer London, so would not be a consideration for a number of buyers. However, they can be really good areas with impressive communities. Some have excellent transport links too so commuting is easy.

Barking Central

According to the data, Barking Central was the most affordable neighbourhood. The median house price here was an impressive £245,000 in March. So, people with a £300,000 budget have plenty of wiggle room.

The area is in East London in Zone 4, so it is a fair distance from the centre of the city. However, it has an interchange station. That means there are plenty of services for commuters, including Tube services, Overground, and National Rail trains. It means travelling into London is very easy.

Ilford North West

Next we have the area with affordable investment properties in Redbridge. Surprisingly, it is not too far from Barking, also in Zone 4, East London. It’s a little more expensive, with the median house price in March at £266,000.

The area has a really great selling point; it is impressively green for part of London. The highlight is Fairlop Waters Country Park. It is the largest green space in Redbridge and has plenty of activities to enjoy, including water sports on the lake, a boulder park, high ropes, and more.

Thamesmead Birchmere Park

Third on the list is an area just south of the Thames. It is on the border of Greenwich and Bexley. The median house price here was an impressive £270,000 in March.

The spot has a lot going for it, including greenery, history, and accessibility. Commuters can travel by heading to nearby Abbey Wood and getting on the Elizabeth Line or trains.

There is a caveat with Thamesmead though; it has three of London’s prisons, including the notorious high security Belmarsh. This will put some people off for fear of prison breaks. However, locals say it is a safe area because it would be silly for criminals to operate so close to the prisons.

Ask us about investment properties in Redbridge

Those are just three of the neighbourhoods to consider with median prices under £300,000. There are a number more, including Little Ilford East (£275,000), Central Romford (£280,000), and Central Croydon (£288,000).

If you are considering investing in properties in London, you can get first rate services from Finefair Ltd. We specialise in guaranteed rent, but can do almost anything you need us to. This can even include reviewing portfolios and offering advice about new investments.

So, whether you choose investment properties in Redbridge or other areas, you can work with us. Get in touch and find out how we give you the best benefits.