Whether a first-time buyer, investor or window shopper, it is no secret that prices in London can leave us wincing. Despite the average property price being down 2.5% in the capital compared to 2018, £457,471 is still a stretch for many considering the average salary is £35,564.
Back in the 1960s the average property price in London was £2,530. Whilst still a huge expense at the time, buying a property was achievable as there was less of a harsh disparity between salary and house prices compared to today.
For those wanting to live in the city or add to portfolios it may seem all doom and gloom. However, Sold’s interactive London property map is ideal for buyers mulling over the most affordable place to buy whilst remaining close to a London Underground station.
Sold research revealed the following tube lines to have the cheapest average house prices out of all of the London Underground routes.
5th Northern Line
Despite having a number of tube stations located in prestigious Fare Zones 1, 2 and 3, the Northern Line is one of the capital’s most affordable to live on. Burnt Oak, located in Zone 4 is the lines least expensive, with the average property costing £104,565. With a 20-minute journey into Central London, Burnt Oak is not to be snubbed. Fellow Zone 4 neighbour West Finchley is the second most affordable location, coming in at £312,541.
Interestingly the now very trendy Borough (Zone 1) is the third least expensive on the Northern Line, with an average property price of £360,013 – a drop of £665 compared to the average price in 2016. Borough is followed by Clapham North, a Zone 2 tube station with average prices hovering around £410,000.
4th Central Line
66% of London Underground stations on the Central Line have average property costs well over £500,000. However, Hainault in Zone 4 has the cheapest average property price on the Central Line at just £248,536. For those favouring west over east, Zone 5’s Northolt is the cheapest location with an average property price of £343,984.
Centrally, Mile End is the most affordable location. A property in this Zone 2 location would set buyers back an average of £359,595. Popular Stratford, which straddles Zones 2 and 3 has similar prices averaging £377,169.
3rd Jubilee Line
With most London Underground stations sitting in Fare Zones 1,2 and 3 it is surprising that the Jubilee Line is London’s third cheapest to buy property on. Potential buyers are spoilt for choice, but it is Zone 3’s Dollis Hill that comes out on top with an average price of £269,998. This is followed by West Ham (Zones 2/3) with prices around £377,169 and Kingsbury in Zone 4 (£424,044). In terms of a central location, the cheapest is Bermondsey in Zone 2 with an average prices of £447,613.
2nd Waterloo & City Line
Made up of just two Zone 1 stations, tube trains shuttle backwards and forwards between Bank and London Waterloo. Given that becoming any more ‘central’ is virtually impossible in the capital, it is surprising that the Waterloo & City Line is the second most affordable tube line for buying a property.
1st Metropolitan Line
For those who desire living in the heart of the city East London’s Aldgate is located in Zone 1. Property prices in this area average £649,469 and is the cheapest Zone 1 location on the Metropolitan Line.
Buyers who don’t mind a 40-minute commute to most central locations could benefit from buying in Eastcote (Zone 5) where property prices average £269,369. A happy middle ground for many is the neighbouring stations of Preston Road and Northwick Park in NW London. The Zone 4 locations both have an average property price just shy of £400,000.
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