March 27, 2019
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What are London property prices like in the east end of the city? If you’re thinking of settling down in East London, it’s one of the most important considerations as you’ll want to make sure you’re getting the most for your money.
We’ve collated data from Zoopla about the average house prices in the region over the past 12 months, giving you all the information you need to make an informed decision about where in the area to buy a house.
According to Zoopla data (October 2019), the average price paid for property in East London over the last 12 months was £449,623. Get an idea of how far your money will go with our breakdown of average house prices by property type:
Although East London is a cheaper area in which to buy a property than many other districts of London, gentrification in the area has led to increased house prices over the last few years.
Hackney, E8, is east London’s most expensive area to purchase a property, with houses averaging £607,373. The E1 postal district is another pricey option. This area includes Whitechapel, Spitalfields, Shadwell, Stepney and Portsoken, as well as parts of Aldgate, Bishopsgate, Shoreditch and Mile End, and the average house price in E1 is £566,618, a figure which has increased by 5.40% over the last 5 years.
Clapton is a popular area with young professionals and families, just minutes from central London via train. With good transport links and a vibrant community feel, E5 comes in as one of East London’s most expensive areas, with house prices averaging £533,008.
Homerton is another expensive area in the East End, with its village feel and trendy shops and cafes lining Chatsworth Road. House prices here average £523,784, which has increased by 5.46% over the last 5 years.
Finally, Olympic Park is another of East London’s most expensive areas, thanks to its development for the 2012 summer Olympic Games. E20 was once a fictional postcode used on Eastenders but is now reserved for houses in this popular area, which average £510,536.
If you’re looking to stretch your money further, consider buying a house in one of these areas, where prices are cheaper than in the rest of East London.
East Ham, E6, is the region’s cheapest area with house prices averaging £303,140. Although that’s an 11.49% increase on the last 5 years, it’s still an affordable option, and with good connections from East Ham Underground station, it’s a strong choice for commuters, located just 8 miles from Charing Cross.
Plaistow, E13, offers more space than areas closer to central London, meaning you can get more for your money. House prices here average £318,337 and with strong transport links and good shopping in the area, it’s just as popular with families as it is with young professionals.
With house prices averaging £359,583, Manor Park is another good option for affordable housing options. The E12 region is a largely residential area, with trains to Liverpool Street running every 10 minutes for easy access to the city centre.
Stratford, E15, is situated 6 miles from Charing Cross and underwent much development in 2012 as one of the locations for the summer Olympic Games. Despite that, house prices are still some of the cheapest in East London, averaging £365,456.
The Victoria Docks and North Woolwich are also good choices for first-time buyers looking for an affordable house in East London. Prices here average £366,029 and the area benefits from great transport links, outstanding scenery and a multicultural population.
If you’re looking to make an investment by buying a property in one of East London’s most thriving areas, you should consider the postal districts of E18, E4 and E7 which have all seen a significant increase in housing prices over the past 5 years.
E18 covers the areas of Woodford and South Woodford, and features expansive green spaces, good schools and strong transport links into central London, making it the perfect choice for families. House prices here average £481,430, which is a 13.97% increase over the past 5 years.
Chingford is the postal area of E4, bordering Essex which gives its a more rural feel than other areas in East London. House prices average £410,368 which is an increase of 12.46% over the last 5 years.
Forest Gate, E7, is a pretty residential area where house prices average £394,668. That figure has increased by 11.05% over the last 5 years, so if you’re thinking of investing in property here, don’t delay!
How much house can you get for your money in the east end of London? You can expect to pay £1,586,176 for a 5 bedroom detached house in Hackney, whilst the same style and number of bedrooms in East Ham will only set you back £557,499.
Buying a house in East London is considerably more affordable than in other areas of the UK’s capital. Although recent gentrification in some areas like Hackney has led to inflated house prices, it’s still possible to get a bargain in cheaper areas, including East Ham, Plaistow and Manor Park.
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March 27, 2019
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