Map reveals the 5 cheapest London postcodes where properties cost less than £300,000

The words London and affordable housing are rarely, if ever, found in the same sentence – and many of us will spend our time in the Big Smoke renting.

Now, a new interactive map has revealed the most affordable locations to buy a home – and there’s more (relative) good news than you’d think.

Separating areas across the UK into shades of green, orange and red, the data assesses affordability based on your individual budget and how many bedrooms you’d ideally like.

Naturally, for a one-bedroom flat marked at £300,000 (the map’s default budget setting), much of the capital is swamped with swathes of red – which indicates that less than 10% of properties in the area fit this description.

Comparatively, an orange score suggests slightly better chances at 10-30% affordability, while yellow equates to 30-70%, light green 70-90%, and dark green more than 90%.

Don’t get your hopes up, though – there’s not much dark green to be found within a stone’s throw of central London.

There are, however, a few areas that are relatively within reach if you’ve got yourself a deposit sorted – and, obviously, aren’t looking for a five-bedroom family home.

IG11 (Barking and Dagenham, Newham and Redbridge)

Lit up in a gorgeous shade of dark green, IG11 has more than 90% availability for one-bedroom homes valued at or around the £300,000 mark. Who’d have thought it?

The postcode covers areas of Barking and Dagenham, Newham and Redbridge, and while it might not be in Zone 1, it’s still relatively well-connected.

On the train, Barking is a mere 14-minute journey from Fenchurch Street in the heart of central London, while Dagenham East is conveniently located along the District Line.

The property averages across Barking rank cheaper than the going rate for London, too (a whopping £678,054), as over the last year, data from Rightmove shows that homes went for £362,669.

E6 (East Ham, Upton Park, Beckton, Barking)

It might be painted in a slightly lighter shade of green than neighbouring IG11, but E6 also has the key to relatively affordable property, encompassing parts of East Ham, Upton Park, Beckton and Barking.

Upton Park is 28 minutes – or 13 stops – from King’s Cross St Pancras on the Hammersmith & City Line, while East Ham is one stop along on the same line, and Beckton is easily connected to the rest of East London with the DLR link from Gallions Reach.

Inevitably, being ever so slightly closer to the centre of town, the going rates in East Ham are more expensive than the likes of Barking and Dagenham at an average of £422,411 over the last year.

And, with things being as they are in London (sigh), this is technically miles below the standard property price.

SW2 (Brixton, Tulse Hill, Brixton Hill, Streatham Hill)

We’re as shocked as you are on this one, but SW2 also has a relative shot at getting within reaching distance of a property-shaped bargain.

Covering parts of Brixton, Tulse Hill, Brixton Hill and Streatham Hill, SW2 is super well-connected – and crucially, Brixton is in Zone 2, while the others are slightly further out in Zone 3.

There’s no beating living along the Victoria Line, though. Yes, it might be a little bit hot and sweaty down there, but it’s super convenient.

What’s better than being 11 minutes from Oxford Circus and not having to change lines at all? Arguably, not much.

Covered in light yellow on ReallyMoving’s map, between 30 and 70% of homes in SW2 are within that £300,000 mark. It’s a pretty ideal compromise, really, considering that neighbouring SE24 – Herne Hill – has been slapped with a big fat red tinge.

NW2 (Cricklewood, Willesden, Neasden)

Not interested in South London? North of the river, NW2 is also fitted with an appealing-looking yellow – meaning that between 30 and 70% of one-bedroom homes here fit that £300,000 price tag. Cha-ching.

Transport connections are looking pretty ideal here too, considering that Cricklewood is just 11 minutes from St Pancras International on the Thameslink, while Neasden isn’t too far from Wembley Park, which is nestled along the Metropolitan Line.

Prices in Neasden specifically are a little higher, considering that the typical property went for £520,907 over the last year, but clearly, the shoe fits when it comes to one-beds.

WC1H (Camden)

Finally, it might seem an unreachable height – but as it turns out, there are actually affordable areas of Central London.

WC1H – which covers parts of Camden and St Pancras – might be surrounded by a sea of red, but it’s somehow fit into the yellow bracket, meaning that between 30 and 70% of one-bedroom properties in the area fit the £300,000-shaped brief.

Here, you’d have the British Museum on your doorstep – and be within walking distance of bustling areas like Marylebone, Soho, and Holborn.

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