A new study has found that Havering has the lowest median price for newly built housing out of all local authorities in London.
Home insurance broker One Sure Insurance analysed data from the Office for National Statistics to determine which local authorities had the lowest median price for all types of newly built housing last year. These results were isolated to London, then compared and ranked from the lowest to the highest prices.
Havering came first in the study with the lowest median new housing price of £298,750. The borough is mainly suburban, with large areas of protected open space, extends into the London Riverside redevelopment area of the Thames Gateway.
Enfield ranked second with a median new housing price of £371,500. It is an Outer London borough and forms part of North London, being the northernmost borough. The main communities are Edmonton, Enfield, Southgate and Palmers Green.
Hillingdon came third with a median new housing price of £375,000. It includes most of Heathrow Airport and Brunel University and is the second largest of the 32 London boroughs by area, alongside being the westernmost London borough.
Bexley ranked close behind in fourth with a median new housing price of £379,250. The borough is within the Thames Gateway, an area designated as a national priority for urban regeneration, and forms part of Outer London.
Croydon came fifth with a median new housing price of £415,000. It is the most populous London borough, as well as the sixteenth largest English district, and has become one of London’s leading business, financial and cultural centres
Other local authorities in the top ten include Bromley, Lewisham, Harrow, Sutton, and Newham.
Westminster came last in the study with the highest median new housing price of £1,809,875. This area primarily has high-rise flats for purchase and sits in the centre of the city with many of the most important buildings in London.
