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17/05/21

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Industry News

London property prices by postcode – and the deposit you’ll need

Property in London is expensive – it’s a widely known fact.

But London is a huge city and in any large city there are areas where property is more affordable – both for renters, buyers and investors.

You just need to know where to look.

Here, we’ll look at property prices in London by postcode, listing how much it will cost, on average, for you to buy a home all across the capital.

Then we’ll highlight five London postcodes you should consider for your next purchase, rental home or investment property…

London property prices in 2021

The start of 2021 has been a busy one for the property market across the UK – and London is no exception.

With the stamp duty ‘holiday’ extended until June and then phased out until September, intense buyer demand has seen prices nationally rise by 8.2% in the year to April 2021.

In London, growth has been slower, with a 2.1% rise in prices since April 2020.

Are property prices in London falling?

Property prices in London are growing, along with the rest of the UK – but at a slower rate than many areas.

Annual price growth in London between April 2020 and April 2021 was put at 2.1% in the Halifax’s latest price index.

That’s compared, for example, with annual growth of 9% in the North West of England.

What is the most expensive postcode in London?

According to the Office for National Statistics, NW8 – covering the area of St John’s Wood in the borough of Westminster – is home to the most expensive properties in London.

ONS data suggests the average price paid for a property in NW8 is an eye-watering £5.8million.

SW1, also in Westminster, came next on the list with an average purchase price of £5.5million

London property prices by postcode

London is home to a huge number of postcode areas – and average property prices across these postcodes range from £275,000 at their cheapest to almost £2 million at their most expensive.

Here’s the definitive list of average property prices by London postcode, using data from Dataloft Inform.

We’ve also shown what the equivalent 5% deposit would be based on the average prices for each postcode area.

Central London property prices by postcode

London Postcode	Areas covered	Avg property price	5% deposit
EC1	Barbican, Clerkenwell, Finsbury	£744,055	£37,202.75
EC2	Moorgate, Liverpool Street	£925,413	£46,270.65
EC3	Aldgate, Monument, Tower Hill	£957,179	£47,858.95
EC4	Fleet Street, St Paul’s	£621,141	£31,057.05
WC1	Bloomsbury, Gray's Inn	£867,634	£43,381.70
WC2	Covent Garden, Holborn, Strand	£1,667,871	£83,393.55

East London property prices by postcode

London Postcode	Areas covered	Avg property price	5% deposit
E1	Mile End, Stepney, Whitechapel	£518,931	£25,946.55
E2	Bethnal Green, Shoreditch	£511,527	£25,576.35
E3	Bow, Bromley-by-Bow	£458,971	£22,948.55
E4	Chingford, Highams Park	£447,763	£22,388.15
E5	Clapton	£589,863	£29,493.15
E6	East Ham, Beckton	£350,124	£17,506.20
E7	Forest Gate, Upton Park	£426,400	£21,320.00
E8	Hackney, Dalston	£602,990	£30,149.50
E9	Hackney, Homerton	£541,092	£27,054.60
E10	Leyton	£444,525	£22,226.25
E11	Leytonstone	£509,895	£25,494.75
E12	Manor Park	£415,993	£20,799.65
E13	Plaistow	£382,300	£19,115.00
E14	Isle of Dogs, Millwall, Poplar	£545,606	£27,280.30
E15	Stratford, West Ham	£411,224	£20,561.20
E16	Canning Town, North Woolwich	£447,381	£22,369.05
E17	Walthamstow	£490,380	£24,519.00
E18	South Woodford	£491,651	£24,582.55

North London property prices by postcode

London Postcode	Areas covered	Avg property price	5% deposit
N1	Barnsbury, Canonbury, Islington	£766,791	£38,339.55
N2	East Finchley	£819,933	£40,996.65
N3	Finchley Central	£621,632	£31,081.60
N4	Finsbury Park, Manor House	£566,875	£28,343.75
N5	Highbury	£787,482	£39,374.10
N6	Highgate	£977,235	£48,861.75
N7	Holloway	£558,457	£27,922.85
N8	Crouch End, Hornsey	£659,062	£32,953.10
N9	Lower Edmonton	£324,420	£16,221.00
N10	Muswell Hill	£750,770	£37,538.50
N11	Friern Barnet, New Southgate	£504,343	£25,217.15
N12	North Finchley, Woodside Park	£551,198	£27,559.90
N13	Palmers Green	£493,295	£24,664.75
N14	Southgate	£611,052	£30,552.60
N15	Seven Sisters	£530,245	£26,512.25
N16	Stamford Hill, Stoke Newington	£631,021	£31,551.05
N17	Tottenham	£402,025	£20,101.25
N18	Upper Edmonton	£325,352	£16,267.60
N19	Archway, Tufnell Park	£626,049	£31,302.45
N20	Totteridge, Whetstone	£737,981	£36,899.05
N21	Winchmore Hill	£594,879	£29,743.95
N22	Alexandra Palace, Wood Green	£526,045	£26,302.25

South London property prices postcode

London Postcode	Areas covered	Avg property price	5% deposit
SE1	Bermondsey, Borough, Southwark, Waterloo	£750,768	£37,538.40
SE2	Abbey Wood	£330,345	£16,517.25
SE3	Blackheath, Westcombe Park	£563,256	£28,162.80
SE4	Brockley, Crofton Park, Honor Oak Park	£566,114	£28,305.70
SE5	Camberwell	£521,004	£26,050.20
SE6	Bellingham, Catford, Hither Green	£423,337	£21,166.85
SE7	Charlton	£446,860	£22,343.00
SE8	Deptford	£439,805	£21,990.25
SE9	Eltham, Mottingham	£412,717	£20,635.85
SE10	Greenwich	£550,509	£27,525.45
SE11	Lambeth	£523,082	£26,154.10
SE12	Grove Park	£429,390	£21,469.50
SE13	Hither Green, Lewisham	£460,188	£23,009.40
SE14	New Cross, New Cross Gate	£472,129	£23,606.45
SE15	Nunhead, Peckham	£553,449	£27,672.45
SE16	Rotherhithe, South Bermondsey, Surrey Docks	£477,043	£23,852.15
SE17	Elephant & Castle, Walworth	£523,044	£26,152.20
SE18	Plumstead, Woolwich	£351,089	£17,554.45
SE19	Crystal Palace, Upper Norwood	£456,255	£22,812.75
SE20	Anerley, Penge	£380,445	£19,022.25
SE21	Dulwich	£712,663	£35,633.15
SE22	East Dulwich	£705,698	£35,284.90
SE23	Forest Hill	£521,931	£26,096.55
SE24	Herne Hill	£749,974	£37,498.70
SE25	South Norwood	£348,701	£17,435.05
SE26	Sydenham	£468,563	£23,428.15
SE27	Tulse Hill, West Norwood	£542,586	£27,129.30
SE28	Thamesmead	£275,194	£13,759.70

South West London property prices postcode

London Postcode	Areas covered	Avg property price	5% deposit
SW1	Belgravia, Pimlico, Westminster	£1,295,609	£64,780.45
SW2	Brixton, Streatham Hill	£569,866	£28,493.30
SW3	Brompton, Chelsea	£1,634,116	£81,705.80
SW4	Clapham	£709,381	£35,469.05
SW5	Earl’s Court	£997,306	£49,865.30
SW6	Fulham, Parson’s Green	£947,286	£47,364.30
SW7	South Kensington	£1,528,409	£76,420.45
SW8	Nine Elms, South Lambeth	£685,696	£34,284.80
SW10	Brixton, Stockwell	£843,329	£42,166.45
SW11	West Brompton	£699,787	£34,989.35
SW12	Battersea	£818,569	£40,928.45
SW13	Balham	£1,189,849	£59,492.45
SW14	Barnes	£938,493	£46,924.65
SW15	East Sheen, Mortlake	£689,577	£34,478.85
SW16	Norbury, Streatham	£506,275	£25,313.75
SW17	Tooting	£634,246	£31,712.30
SW18	Earlsfield, Wandsworth	£710,063	£35,503.15
SW19	Merton, Wimbledon	£722,981	£36,149.05
SW20	Raynes Park, South Wimbledon	£710,239	£35,511.95

North West London property prices by postcode

London Postcode	Areas covered	Avg property price	5% deposit
NW1	Camden Town, Regent’s Park	£764,196	£38,209.80
NW2	Cricklewood, Neasden	£571,267	£28,563.35
NW3	Hampstead, Swiss Cottage	£1,137,545	£56,877.25
NW4	Brent Cross, Hendon	£543,686	£27,184.30
NW5	Kentish Town	£710,674	£35,533.70
NW6	Kilburn, Queens Park, West Hampstead	£753,525	£37,676.25
NW7	Mill Hill	£646,576	£32,328.80
NW8	St John’s Wood	£1,112,247	£55,612.35
NW9	Colindale, Kingsbury	£415,487	£20,774.35
NW10	Harlesden, Kensal Green, Willesden	£620,483	£31,024.15
NW11	Golders Green, Hampstead Garden Suburb	£817,279	£40,863.95

West London property prices by postcode

London Postcode	Areas covered	Avg property price	5% deposit
W1	Marylebone, Mayfair, Soho	£1,820,143	£91,007.15
W2	Bayswater, Paddington	£1,000,126	£50,006.30
W3	Acton	£549,871	£27,493.55
W4	Chiswick	£862,285	£43,114.25
W5	Ealing	£679,155	£33,957.75
W6	Hammersmith	£828,790	£41,439.50
W7	Hanwell	£538,358	£26,917.90
W8	Kensington	£1,949,475	£97,473.75
W9	Maida Vale, Warwick Avenue	£800,133	£40,006.65
W10	Ladbroke Grove, North Kensington	£760,991	£38,049.55
W11	Holland Park, Notting Hill	£1,446,853	£72,342.65
W12	Shepherd’s Bush	£678,661	£33,933.05
W13	West Ealing	£671,452	£33,572.60
W14	West Kensington	£842,460	£42,123.00

Outer London property prices (selected postcodes)

London Postcode	Areas covered	Avg property price	5% deposit
EN	Enfield	£418,361	£20,918.05
HA	Harrow	£460,408	£23,020.40

Postcode price data from Dataloft Inform – May 2021

Where to buy property in London

London is a huge city and finding a property to buy in the capital can be a daunting task.

We’ve selected two great areas which are the best for value and the best for education…

Best area for value: Enfield

According to Office for National Statistics data, Enfield is home to three of the 10 best value postcodes in London when it comes to property prices.

Enfield is a great area to live, with superb transport links close to the M25 and easy access for commuters into central London

Average property price: £418,361*

Find out more about living in Enfield.

Best area for schools: Harrow

Harrow and education go hand in hand thanks to the prestigious Harrow School – where former British Prime Minister Winston Churchill was educated.

But for home buyers in this area of North West London, there are a host of excellent state schools to choose from.

‘Outstanding’ schools in Harrow include:

• St Anselm’s RC

• Marlborough

• Belmont

• Byron Court

• St Joseph’s RC

• Mount Stewart Junior

• Alexandra

• Newton Farm

• Heathland

• Glebe

• St Bernadette’s RC

• Whitmore High

• Sacred Heart Language Collage

• Nower Hill High

• Claremont High

• Bentley Wood High

Average property price: £460,408*

Find out more about living in Harrow.

Best up and coming area in London

When looking to buy a property in London, it can pay to research areas that are considered ‘up and coming’.

This could include areas where regeneration is taking place through government investment in things like transport links and key amenities.

Tottenham

Tottenham is currently in the early stages of the area’s 20-year regeneration plan.

But the area has already been boosted by a raft of new homes and Tottenham Hotspur FC’s dramatic new stadium, which cost around £1 billion to build.

The face of Tottenham is looking like it will be very different in the coming years and the area’s popularity is already increasing, so now is very much the time to buy in this particular ‘up and coming’ area.

Average property price: £402,025*

Average monthly rent: £1,307*

Find out more about living in Tottenham.

Best area for property to rent in North London

According to HomeLet, the average monthly rent in London is just over £1,500.

And while there are cheaper areas to rent in the capital, these are usually within the outer zones, meaning more expensive travel costs when commuting back into the city.

Golders Green

Golders Green has everything you could want as a renter in London – open space, great period and post-war properties and great transport links into the city.

Golders Park and Hampstead Heath are nearby, providing that much in-demand open space, while Golders Green station has direct Underground services to Euston, Old Street and London Bridge.

But despite all this, average rents in Golders Green aren’t too much more than the London average, meaning this is an area you should definitely consider if you’re looking to rent in the capital.

Average monthly rent: £1,676*

Where to invest in property in London

With rental demand and tenant affordability varying across London as a whole, if you’re looking to invest in a buy-to-let property, you should definitely consider location carefully.

Willesden Green

Willesden Green is hugely popular with renters who want to be part of North West London’s vibrant communities.

With 43% of tenants renting in the area aged between 18 and 29, Willesden Green is a great area to invest in flats and apartments that are in demand from young professional renters.

Willesden Green isn’t the cheapest area to buy property in London, with flats and apartments, on average, costing £457,000*.

But prices in Willesden Green have grown by a huge 26%* since April 2020 and that strong growth looks set to continue.

So, with tenant demand high, those with a long-term investment approach can enjoy a steady rental income and strong capital growth.

Average property price (flats): £457,278*

Average monthly rent (flats): £1,372*

Yield: 3.6%