Many first time buyers in London are keen to buy property in cultural areas of the city, hoping for things to see and do on their doorstep; however with house prices on the rise, large numbers are continuing to get priced out of traditionally desirable areas such as Shoreditch, Dalston and Clapham.
Be that as it may, all hope is not lost for those wishing to get on the property ladder, as London has an array of more affordable areas boasting culture and nightlife, without the premium price tag. As first time buyers look to get a foot on the property ladder, these properties are a great place to start; not only are they more affordable in the first place, they will likely increase in value too, which is always a bonus!
If you’re looking to buy your first home, be sure to compare first time buyer mortgages to ensure you get the best rate.
Our mortgage experts used Zoopla data which revealed the top 10 most searched per listing London boroughs. These were then analysed according to the following cultural metrics: Street food stands/mobile caterers, Pubs/bars and nightclubs, Cultural venues, Art centres, Cinemas and Instagram hashtags.
They then pulled in the latest population data from the ONS to look at those figures per 100,000 population, and added a score based on that in order to rank them in order of the most cultural boroughs.
Finally, they took Zoopla data showing the average price of a property in each of these areas, to see which of the cultural boroughs were the most affordable. You can find the results below:
|Affordable culture rank||City||Cultural score out of 10||Average price of a property|
|9||Barking & Dagenham||2.8||£431,800|
Full results can be found in methodology below.
The most cultural borough in London has been revealed to be Hounslow with an almost perfect score of 8.3 out of 10. Plus, with an average house price of £823,300, it’s the third lowest price on our list - result!
With 137 street food stands and 186 cultural venues made up of art galleries, museums and more, Hounslow would make a fantastic first neighbourhood for young families and young professionals alike.
Coming in second place is Enfield with a score of 6.9 out of 10. Boasting 2 art centres and 2 independent cinemas, it’s the perfect place for young professionals who want culture on their doorstep. It has also racked up over 1 million Instagram hashtags to date!
In third place is South-East London’s Bexley, scoring 5.9 out of 10. Not only was the borough named one of the safest to live according to 2018 Met Police figures, Bexley boasts 124 pubs, bars and nightclubs making it both lively and affordable with an average property price of £650,000.
Bromley is in fourth place with a score of 5.2, and although it bears a pretty high price tag of £949,900 for the average property, the mere 16 minute journey from Bromley South train station to London Victoria makes it feel like a great bargain!
Boasting a wealth of pubs, bars and nightclubs - 196 to be exact - Bromley has the highest number of the bunch, making it the perfect place for young professionals to settle.
Home to Harrow Arts Centre, Harrow was officially made a part of London in 1965 (it was previously part of Middlesex). The village-like suburb has excellent links to the heart of the capital, 129 local cultural venues and lots of luscious greenbelt only a stone's throw away; it’s no wonder Harrow comes in at number 5 in our most cultural boroughs ranking.
It is however the most expensive on the list, with the average price for a home being over a million pounds (£1,063,600).
Barking and Dagenham is the cheapest area on the top 10 list of cultural boroughs, with the average price of a property coming in at £431,800. Around 9 miles east of central London, the borough is within the London Riverside section of the Thames Gateway; an area designated as a national priority for urban regeneration.
At the beginning of the year a new 50m swimming pool was opened at the Becontree Heath Leisure Centre in Dagenham - making it the only other Olympic-length pool in London other than the London Aquatics Centre in Stratford.
Furthermore, Made in Dagenham film and TV studios have been built with 100 million invested into the project. The studios cover 22 acres, with 12 sound stages, virtual reality attractions and an events centre. If the latest blockbuster were to come out of Dagenham, then we predict its cultural score to soar!
Choosing where to buy your first property is often difficult, so why not check out our guides below to help you decide on the perfect area for you.
Learn how to get the best first-time buyer mortgage for you and about the different schemes available to help get you on the property ladderRead More
Financial experts at money.co.uk took Zoopla data which revealed the top 10 most searched per listing London boroughs.
These were then analysed according to the following metrics: Street food stands/mobile caterers, Pubs/bars and nightclubs, Cultural venues, Art centres, Cinemas and Instagram hashtags.
|Borough||Street food stands/mobile caterers|
|Barking and Dagenham||58|
|Borough||Pubs/bars and nightclubs|
|Barking and Dagenham||33|
|Barking and Dagenham||85|
|Barking and Dagenham||0|
|Barking and Dagenham||2|
|Barking and Dagenham||20,663|
The sources used are listed below. They then pulled in the latest population data from the ONS to look at those figures per 100,000 population, and added a score based on that in order to rank them in order of the trendiest cities.