The £200,000 home is about to disappear from inner London, according to new research, which found the average one-bed home cost less than that in just 12 per cent of London postcodes.
The study, by property consultancy JLL, thanks to rising prices in districts seen as affordable, by 2019 there will be no postcodes left in the capital where average one-bedroom flats are priced at below £200,000.
According to the figures, there are still homes for sale at under £200,000 in parts of Barking and Dagenham, Bromley and Croydon.
However, Nick Whitten, associate director for residential research at JLL, suggested these pockets of affordability will disappear.
"A critical supply-demand imbalance has compounded the affordability issues facing many aspiring homeowners in London.
Affordable areas, fast growth
The fall in affordable homes has been driven by rapidly rising prices in parts of London considered most affordable - despite an overall slowdown in house price growth in recent months.
House prices in the CR0 postcode in Croydon and BR6 in Bromley grew at 21 per cent or more in the final quarter of 2016, the figures showed - alongside N20 in Barney, HA1 in Harrow, UB2 near Southall and DA8 in Daggenham.
Meanwhile, prices in W14, in Kensington, and W1 in central London both fell more than three per cent, while W11, aka Notting Hill, and W8, Paddington, both fell as much as three per cent.
"More and more first time buyers are turning to the outer boroughs in search of better value housing. However, this new wave of demand is creating significant price growth in outer areas, well in excess of wage growth," said Whitten.
"If this trend continues there will be no London postcodes left where a one bed flat averages below £200,000."