A London asking price cannot be given as one number, because the price per square metre varies 3.9 times across the city. This page gives the current price of the 88 London schemes we have on sale, by postcode area: lowest £315,000, highest £5,350,000, median £550,000.
What these figures are: every one is a new build scheme and every one is stock we sell. This is not an average for London as a whole, and it is certainly not a second hand price. New build sells at a premium to second hand; read the figures on this page in that light. The tables are built from live listing data, so when a scheme’s price moves this page moves with it.
Prices by postcode area
In London the postcode separates places more sharply than the district name does. The table below gives, for each area, the number of schemes on sale, the price range and the entry flat’s price per square metre.
| Postcode | Area | Schemes | Price range | Median | Per m² |
|---|---|---|---|---|---|
| SW | South West London | 19 | £399,000 – £1,947,500 | £730,000 | £13,180 |
| SE | South East London | 16 | £315,000 – £2,500,000 | £492,000 | £8,877 |
| W | West London | 13 | £475,000 – £5,350,000 | £2,250,000 | £21,707 |
| E | East London | 12 | £359,000 – £772,000 | £515,000 | £9,150 |
| NW | North West London | 6 | £360,000 – £795,000 | £446,498 | £8,845 |
| TW | Twickenham and Hounslow | 4 | £325,000 – £1,000,000 | £442,500 | £9,358 |
| HA | Harrow and Wembley | 4 | £335,000 – £560,000 | £405,750 | £9,375 |
| N | North London | 4 | £395,000 – £549,990 | £462,475 | £8,872 |
| KT | Kingston upon Thames | 2 | £390,000 – £500,000 | — | £10,329 |
| UB | Hayes and Southall | 2 | £315,000 – £580,000 | — | £9,533 |
| EC | City of London | 2 | £1,100,000 – £1,160,000 | — | £21,357 |
| CR | Croydon | 1 | £390,000 | — | £5,571 |
| RM | Romford and Dagenham | 1 | £330,000 | — | £6,346 |
| EN | Enfield and Barnet | 1 | £725,000 | — | £8,841 |
The median column is left empty where an area holds a single scheme: one figure has no median. The price per square metre is the developer’s stated entry flat price divided by that flat’s own size. 1 scheme with no postcode on record counts in the totals and is absent from this table.
Prices by travel zone
The second thing that sets a London price, after the postcode, is the travel zone. Zone 1 is the centre and Zone 4 the outer ring; a flat of the same size gets markedly cheaper as the zone number rises.
| Area | Schemes | Price range | Per m² |
|---|---|---|---|
| Zone 1 | 7 | £659,000 – £1,795,000 | £20,714 |
| Zone 2 | 11 | £359,000 – £780,000 | £9,773 |
| Zone 3 | 4 | £399,000 – £509,950 | £9,723 |
| Zone 4 | 1 | £315,000 | £6,300 |
The lowest priced schemes
| Schemes | Postcode | From |
|---|---|---|
| Hayes Village | UB3 4QF | £315,000 |
| Southmere London | SE2 9UH | £315,000 |
| Lampton Parkside | TW3 4FD | £325,000 |
| Dagenham Green | RM9 6PE | £330,000 |
| Eastman Village | HA1 4TY | £335,000 |
| Lombard Square | SE18 7BW | £345,000 |
| Lightmakers, Sydenham | SE26 4PU | £350,000 |
| Hoola Royal Docks London | E16 1AG | £359,000 |
What sets the price
The difference between two schemes in the same postcode usually comes down to four things:
- Distance to the station. Five minutes of walking makes a visible difference to the price per square metre.
- Floor and aspect. Within one scheme an upper floor with a river aspect is priced well above a lower floor facing inwards.
- Tenure. Freehold or leasehold, and where it is leasehold the years remaining, bear directly on the price.
- Completion date. Buying off plan, an early phase opens below the phases nearer completion.
When you look at a scheme, take its postcode and read the live rental listings for that code. A yield should be built on what that postcode actually lets for, not on the developer’s rental estimate.
What is added on top
The figure in the listing is not what you pay. Stamp duty, legal fees, searches and the first year’s running costs go on top, and the stamp duty rate itself changes if you are buying a second home or do not count as UK resident. For your own scenario you can use our purchase cost calculator and our stamp duty calculator. If you intend to let it, our rental income tax calculator works out the net yield.
What to do next
The same portfolio is listed by postcode in our scheme directory, by developer in our developer directory, and all together on our London listings page. Whether London suits a buyer right now is covered on our is buying in London worth it page, and the purchase process in full in our buying a home in the UK guide.
If you are looking at the upper segment, our guide to luxury homes in London takes the prestige districts, the branded residences and the pool, spa and concierge provision of each building one by one.
Frequently asked questions
What is the cheapest home for sale in London? The lowest priced London scheme we have on sale is £315,000. That is an entry price for a new build scheme; the second hand market goes lower.
What is the average flat price in London? The median entry price across the 88 London schemes in our portfolio is £550,000. We give the median rather than the mean, because a handful of prime schemes pull a mean upwards and mislead.
How much does the price per square metre vary by area? There are several times between the lowest and the highest figure in the table. The split between the central postcodes and the outer ring is what decides a budget more than anything else.
Can a foreigner buy a home in London? Yes. The United Kingdom places no nationality restriction on buying residential property. A surcharge is added to stamp duty for non-resident buyers; the calculator works out the rate.
How often are these prices updated? The tables are generated from the listing data. When a scheme’s price changes, or a new scheme is added, this page is generated again.
