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Revealed: the cheapest street in London
Mira Bar-Hillel, Property Correspondent14 Mar 2008
Only two streets in London still have house prices averaging less than £100,000, a survey shows.
Of the tens of thousands of roads across the capital, the title of the cheapest goes to Leamington Close in Harold Hill, near Romford, in the eastern borough of Havering. With an average of £97,800, prices are less than a third of the typical London figure of £300,000 to £350,000.
The second cheapest street is Willow Tree Walk, off the A222 in Bromley, where the average price is £99,300.
The survey by property website Mouseprice shows the extent of rampant house price inflation over the past few years. In January, only 43 homes changed hands in London for less than £100,000 - down 66 per cent on the same month last year. By contrast, 67 properties were bought for more than £2 million.
Leamington Close is a cul-de-sac of Fifties red-brick blocks on the Harold Hill estate. Most are council homes but 10 have been sold under the right to buy laws and five of these have since been resold on the open market.
Clare Williams, 19, said she hoped to buy the one-bedroom council flat where she lives with 13-month-old son Bailee.
She added: "It's a bit grim and it's not much, but it's what I can afford. It's not a bad place to bring up my child. There are no gangs. Doctors, shops and a big playground are a short walk away and I'm told the schools are OK."
Eileen Langley-Fogg, 84, who has lived in the road for 15 years, said: "We don't have CCTV, we have a communal washing line. You wouldn't get many estates in London where you could hang up your clothes and they wouldn't go missing."
Near the A12 and the M25, Harold Hill is a walk away fromgreen space in Dagnam Park and the Duck Wood Community Nature Reserve. Harold Wood train station, half an hour from Liverpool Street, is not far. Also in the area are Harold Wood Hospital, Havering College of Further and Higher Education and the Harold Hill industrial estate.
But estate agent Alan Bowdery of Robert Parish and Co admitted demand was poor and said prices on the close had started falling last year by "two or
three per cent". The third cheapest street in the survey is also in Harold Hill - Kingsbridge Circus - where the average price is £101,700.
A Mouseprice spokesman said: "The cheapest postcode is in an area with relatively high unemployment and low rates of people with higher education. Most property is ex-council flats. On the other hand, the prices attract first-time buyers who can afford nothing else. Investors are also keen on ex-council property."
The survey reveals the cheapest address in England is Oxford Street in South Elmsall, West Yorkshire, where the average price is £25,600.
| Address | Borough | Avg price |
|---|---|---|
| Leamington Close, RM3 | Havering | £97,800 |
| Willow Tree Walk, BR1 | Bromley | £99,300 |
| Kingsbridge Circus, RM3 | Havering | £101,700 |
| Baltimore Place, DA16 | Bexley | £102,600 |
| Saltford Close, DA8 | Bexley | £104,400 |
| Teal Close, EN3 | Enfield | £105,300 |
| Oldchurch Gardens, RM7 | Havering | £105,400 |
| Ranmore Path, BR5 | Bromley | £106,200 |
| Maran Way, DA18 | Bexley | £106,400 |
| Veronica Close, RM3 | Havering | £112,40 |
| Cedar Close, SE21 | Lambeth | £112,700 |
| Frobisher Road, DA8 | Bexley | £112,900 |
| Shinners Close, SE25 | Croydon | £115,900 |
| Matthews Close, RM3 | Havering | £113,200 |
| Hood Close, CR0 | Croydon | £115,900 |
| Tadworth Parade, RM12 | Havering | £116,600 |
| Masefield Lane, UB4 | Hillingdon | £117,000 |
| Glyndon Road, SE18 | Greenwich | £117,900 |
| Cook Square, DA8 | Bexley | £118,700 |
| Heatherwood Drive, UB4 | Hillingdon | £119,200 |
Source: Mouseprice.com
Reader views (9)
Enfield is a cheap area but it isn't that bad,. Some parts are rundown and its not trendy but apart from that its fine apart from schools aren't good.
- James, enfield, london, 23/07/2008 14:00
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For the country the index is "House Price" and is based on a freehold property, in London and possibly elsewhere it is "the price of the average home" i.e. studio apartments (bedsits) and flats are included to keep the figures down.
All this seemed to start when London shot into the "top 5 most expense cities in the world to live in", a league table that suddenly stopped being reported on.
Enjoy your headline, but please try to report accurately.
- Ian, London, 17/03/2008 11:41
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I've been to Harold Hill, its not that bad! I work in Dagenham and its an absolute dump, far worse than Harold Hill. I think that the house prices are cheaper in Harold Hill as it is not a commutable. I have also lived in Newham and its rank!
- Vichy Moo, Havering Essex, 16/03/2008 11:15
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I have to drive a bus down Leamington Road and I think everyone has missed the point, in that area you have to compete with the school kids for a seat on the bus, you learn all your swear words from them, don't forget the second rush hour of the people going down the Police station to sign on, etc etc etc, unlike the Harold Wood area that is the other side of the dual carriageway/A12...!
- Dene Wood, Grays, Essex, 14/03/2008 20:37
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Your research is very flawed. I happen to know one of the two streets featured. There is currently a 1 bed property on the market on that street and its going to for £95K shared ownership ( probably no more than 50% share) its all well and good doing all this research and writing headline grabbing articles but at least get your facts right!
- Lola, Bromley, 14/03/2008 17:17
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Annabelle - You are incorrect. Both of these places are in London boroughs, the Met is the police force, not the Essex/Kent constable, they get to vote in the London Mayor elections.
Just because they have Essex/Kent on the mail addresses means that the Royal Mail found it too costly to change when they became part of London in the 60's.
BTW - Most of the places mentioned above are far nicer places to live than some of the inner city dumps that yuppies and estate agents describe as 'up and coming', 'diverse', 'edgy' etc
- Postman Pat, London, 14/03/2008 17:15
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Wrong Annabelle. Romford is in the London Borough of Havering and likewise Bromley is in the London Borough of Bromley.
Both have been fully part of London since 1965 when the Greater London Council was formed.
Kyle.
- Kyle, London, 14/03/2008 16:18
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Romford is in Essex. Bromley is in Kent. Neither are in London proper.
- Annabelle, London, UK, 14/03/2008 14:44
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Mmmm, and it looks like such a charming place to live too.
- Paul Yerleg, Camden, 14/03/2008 13:40
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