Think you've been priced out of the capital? Take heart as the London property market is changing. To prove it, we've found 10 great homes priced for budgets of £250,000 or less.
The tide could be turning in London’s notoriously over-heated property market.
Nationwide building society recently reported that house prices in the capital have fallen for the first time since 2009.
Property values during the third quarter of this year were 0.6% lower compared to the same period 12 months ago, marking the worst performance in eight years, it said.
The number of flats sold in London has also halved during the past year, according to separate research from estate agents James Pendleton, as first-time buyers opt to 'sit it out' in the hope to secure a better deal.
Finally, there are currently more than 10,000 London homes listed on Zoopla that have been reduced in price.
1. One-bedroom flat, Dollis Hill, London, for £225,000
Not everyone likes trudging up a staircase, so if you’d prefer a ground floor apartment, how about this spacious flat in north west London? Part of a modern purpose-built block, the property offers residents’ parking and communal gardens. Cricklewood Station and amenities are a short walk away.
Available via Ellis & Co
2. Studio, Mill Hill, London, for £249,950
This spacious studio flat, which has a private rear garden and is on the top floor of a recently-completed conversion, has the advantage of being in close proximity to both plenty of green space and Brent Cross Shopping Centre.
Available via Parkers Residential
3. One-bedroom flat, Forest Hill, London, for £250,000
This double bedroom flat (above) in south London offers about 430 sq ft of living space. It's on the top floor of an apartment block and lets in ‘lots of natural light’, according to the selling agent. Posh Dulwich Village is only a short bus ride away.
Available via Hunters
4. Three-bedroom houseboat, Hampton, London, for £212,000
In its former life, this barge, Twee Gebroeders, was used to transport fruit and veg in Amsterdam. Now moored on the Thames near Bushy Park, south west London, it comes with three bedrooms and an open plan kitchen with built-in storage, hand-painted Moroccan-style tiled flooring and solid oak worktops.
Plus, the price has dropped 15.2% since being listed for £250,000 last month.
Available via riverhomes5. One-bedroom flat, Shepherd’s Bush, London, for £250,000
Since its original listing on Zoopla last month, £49,999 (16.7%) has been knocked off the asking price for this apartment in west London's popular Shepherd's Bush. It's located just 300 metres from the Central line Tube station.
Available via Dexters 6. Two-bedroom flat, New Cross, London, for £250,000
This two-bedroom apartment in New Cross south of the river has seen TWO price reductions since it was originally listed on Zoopla for £280,000.
Located on the ground floor of a residential block in a quiet cul-de-sac, the refurbished property is close to New Cross Gate and South Bermondsey stations and shopping facilities.
Available via Robinson Jackson
7. Three-bedroom maisonette, Mitcham, London, for £225,000
This south London split-level maisonette is on the seventh floor of a block near Colliers Wood Tube station (one stop after Tooting Broadway on the Northern Line). Apart from a modern kitchen (above), the property offers three bedrooms and views across south London. But only cash buyers should apply, says the selling agent.
Available via C James & Co
8. Studio, Rotherhithe, London, for £245,000
Not only is this ground floor studio flat convenient to Bermondsey Tube station in south east London, but it is between two green spaces – Southwark Park and Burgess Park. It offers ‘ample storage’, an allocated parking space and long lease (999 years from January 1980).
Available via Purplebricks
9. Two-bedroom flat, Perivale, London, for £250,000
A 9.1% drop in price has resulted in £25,000 being slashed from the original asking price of this first floor apartment, which is within walking distance of the Central line's Perivale Tube station, located in the west London Borough of Ealing.
Available via Ellis & Co
10. Studio, Marylebone, London, for £130,000
This charming studio, on the first floor of a residential block, is located near the shopping facilities of Great Portland Street, and well-known beauty spot, Regent’s Park.
But before you get too excited about the price, there's only six years remaining on the lease and it could cost up to £400,000 to extend it.
Available via Jeremy James and Company
Still can't afford it but have your heart set on living in the capital?
Find out more about Help to Buy London which offers an equity loan from the Government of up to 40% of the property value. Help to Buy, which applies to new-build homes only until 2021, has also just seen a further £10bn funding boost.