Wednesday 15 September 2021 6:50 am

Top 10 cheapest London postcodes revealed 

A postcode district in Thamesmead has been found to be the cheapest postcode district in London for property at an average cost of £387 per square foot.

The cheapest postcode was SE28, in the local authority of Greenwich, Brexley, where properties are x0.58 the London average, according to data from Churchill Home Insurance.

The nearby SE2 area of Abbeywood took the spot of third cheapest postcode, with properties costing an average of £398 per square foot.

For house-hunters hoping to move north of the river, the second cheapest postcode was EN11 in Hoddesdon, just outside London in Broxbourne, Hertfordshire.

Properties in EN11 were an average of £391 per square foot and x0.58 the London average.

Neighbouring EN9 and EN10 also made it on the list, with an average cost of £400 and £408 per square foot respectively.

Three Ilford postcodes featured on the list, with the IG1, IG11, and IG3 areas all reporting some of the cheapest property prices in London.

Elsewhere, the south-London postcodes of CR7 in Thornton Heath and CR3 in Caterham were also cheap places to buy, both x0.62 compared to the London average.

The list in full is:

  1. SE28
  2. EN11
  3. SE2
  4. EN9
  5. IG1
  6. IG11
  7. EN10
  8. IG3
  9. CR7
  10. CR3

The average asking price across the whole of London was £582,284 with an average cost of £ to square foot of £669.

Unsurprisingly, postcodes in Kensington And Chelsea and Westminster featured heavily on the list of most expensive postcodes, with SW3 topping the list at £1,721 per square foot.

This was followed by the areas SW7 and W8, which were x2.50 and x2.36 the London average respectively.

In the City of London, the EC3 postcode was the fifth most expensive on Churchill’s list, at £1,553 per square foot while in the nearby EC2 the average cost was £1,439.

The list in full is:

  1. SW3
  2. SW7
  3. W8
  4. W1
  5. EC3
  6. EC2
  7. W11
  8. SW1
  9. SW10
  10. W2