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Buying the cheapest homes for commuting to London

House prices in London are up only a third compared to other areas and you can find cheaper homes for commuting to the capital.

Properties in the UK have seen strong house price growth over the year with the South West up 10.5% compared to London rising only 3.6% in April, according to Zoopla.

First time buyers and home movers buying to commute to the capital have great choices with Gravesend being the cheapest where a two-bedroom property price averages £240,000.

See how much your monthly mortgage interest payments would be to buy a commuter home near London at this link:
Mortgage cost calculator with instant results for your commuter home.

Cheaper homes close to the capital

Many of the cheaper are a short commute to the capital with house prices ranging from £240,000 to £300,000 for a two-bedroom property affordable for first time buyers.

This table from Zoopla shows examples of the cheapest areas in and around London to buy a 2-bedroom home and 15% deposit amount.
Area House prices 15% Deposit
Gravesend £240,000 £220,068
Harlow £250,000 £148,659
Broxbourne £260,000 £185,062
Dartford £270,000 £132,250
Barking £275,000 £178,750
Enfield £280,000 £192,902
Waltham Cross £290,000 £135,570
Cheshunt £290,000 £155,716
Thornton Heath £300,000 £145,845
Manor Park £300,000 £126,437
Properties in North Kent offer cheaper homes with Gravesend the cheapest where you can buy a two-bedroom property for £240,000 and with a 15% deposit you would need £36,000.

For a three-bedroom home in Gravesend the price is £320,000 and a 15% deposit would require £48,000 in savings.

First time buyers could get help from family members for the deposit as equity release buyers can access cash using a lifetime mortgage and gift to children and grandchildren.

Other areas with similar prices are Swanscombe, Ebbsfleet, Dartford and Greenhithe that benefit from local amenities such as the Bluewater Shopping Centre.

In North East London you can find two-bedroom homes for £280,000 to £290,000 in Enfield, Waltham Cross, Cheshunt and Broxbourne.

Property prices are unlikely to continue rising with double-digit figures for 2022 although the shortage of supply will mean popular areas will continue to see rises in values.

House price growth is slowing

The lack of supply of suitable homes on the market has seen house prices rise in the last two years with average growth at 10.5% over the last year to May 2022.

House price growth is slowing according to Halifax, which was as high as 11.2% year-on-year in February, 11.1% in March and remains above the 9.6% in May 2021.

Average property values are £27,390 higher over the year rising from £261,709 in May last year to £289,099 currently.

Over the past ten years house prices have increased 74% or by £123,016 with the strongest rise in London up 84.2% followed by East of England higher by 84.0% and East Midlands up 82.1%.

If you are a remortgage buyer with equity gains, you can take a further advance and use this to add space to your home such as a loft conversion, an extension or other home improvements.

The performance of London in 2022 is in contrast to the previous ten year period although this does offer homebuyers returning to the capital the opportunity to afford to buy in cheaper areas.

What are your next steps?

Speak to our LCM mortgage advisers if you are buying your first home and looking for a competitive mortgage deal. Learn more by using the property value tracker chart and equity release calculator.

Start your free first time buyer quote and we can show you the best mortgage offers for your purchase at this link:
Free mortgage quote with the leading mortgage deals for your home.

If you are accessing cash from your home using equity release, we can recommend the products to meet your circumstances so begin your equity release quote for the latest provider offers.


Mortgage Best Buys

These are examples of mortgage products we can approach with many more offering interest rates and flexibility to meet your needs.

1.18% Fixed Rate
60% Loan to Value
£1,034 App Fee
Until 31/10/2022
Reverts to 3.59%
1.19% Fixed Rate
60% Loan to Value
£999 App Fee
2-Years Time
Reverts to 3.59%
1.16% Fixed Rate
60% Loan to Value
£1,525 App Fee
Until 01/11/2022
Reverts to 4.09%
1.17% Fixed Rate
60% Loan to Value
£1,025 App Fee
Until 31/09/2022
Reverts to 3.59%

The latest mortgage news


26 Jun 2022

House affordability is stretched as prices outstrip earnings

A typical home is 7.1 times average earnings which have risen 2.7% compared to house prices up 16.8% since the start of the pandemic.

16 Jun 2022

Buying the cheapest homes for commuting to London

House prices in London are up only a third compared to other areas and you can find cheaper homes for commuting to the capital.

27 May 2022

Record rise in house prices now £55,000 up on pre-pandemic levels

In the UK asking house prices have risen to record levels and are £55,000 higher over the last two years before the pandemic started.

18 May 2022

House prices in London have gone up the most over 10 years

London house prices have increased the most over the last 10 years with a significant rise in equity for homeowners.

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    Equity Release may involve a Lifetime Mortgage or a Home Reversion Scheme. To understand the features and risks, please ask for a personalised illustration. Equity Release may affect your entitlement to means tested state benefits and will impact on the size of your estate. For Equity Release London City Mortgages charge a fixed fee upon completion of £695. For Mortgages a fixed fee is charged on application. Typically this is from £295 up to £495 for the services selected.

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