London's ever-shrinking pool of affordable boroughs

The number of boroughs where house prices sit below the London average, and that are considered comparatively affordable, has dwindled, as values in the outer boroughs have continued to rise. In 2012 there were 12 boroughs of the 32 where the typical price tag was below the London-wide average. This has now fallen to eight as the wave of demand to move to the east and to the edges drove up prices in cheaper areas, according to new data from JLL. "Demand for more space and better value for money, combined with the regeneration of far-flung brownfield sites, has caused fast-paced property price inflation to spread to the periphery of the capital and beyond," says Marcus Dixon, director at JLL. Only Barking and Dagenham (31% below the London average), Bexley (8%), Newham (16%), Havering (12%), Croydon (12 per cent%), Sutton (7%), Hillingdon (2%) and Greenwich (2%) are below the threshold. 

Evening Standard (26/04/2023)