You might be discouraged about your prospects of buying your first house given that the UK's average property price this year nearly crossed the quarter-million-pound threshold says Joe Ricotta. Even more so in the capital, where the most expensive housing markets in the UK at the moment include Kensington and Chelsea, Westminster, Richmond, and Camden.
Is it worthwhile to even search for a property in the capital? Is it feasible to purchase a home for under £500,000, and if so, where?
The good news is that not all boroughs and neighborhoods have similar housing costs. Below, we list the most cost-effective nearby London for property purchases.