First time buyers alerted to cheaper London areas

07-Aug-2007

First time buyers have been alerted to the fact that there remain properties in the London area that are selling for below the national average.

Thamesmead, south-east London, still has a number of properties selling for around £10,000 below the national average of £198,000, according to research from Zoomf.com.

The website adds that not just flats but family homes with as many as three bedrooms are available for similar prices.

"Crucially, it's also an area that's set to benefit from massive inward investment in the years ahead, most notably the Thames Gateway Bridge, which will drastically cut travel times to the City and Canary Wharf," commented Zoomf co-founder Mike Carter.

"The billions of pounds that are being ploughed into East London to pave the way for the Olympics will also have an extremely positive effect," Mr Carter added.

Halifax reported last month that the average price of a home in London now stands at over £300,000 for the first time.

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