London houses below £200,000

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by Kay Murchie

Property search engine, Zoomf.com, has discovered a London postcode just 8 miles from the City where prices are £10,000 less than the UK average. In addition, the River Thames and an international airport are close by.

It may not have the attraction of Notting Hill but SE28, South East London’s Thamesmead area comprise houses that cost less than £200,000.

Zoomf’s research established that the average price of the 186 properties in SE28 was £187,716 at the end of July 2007. This is £10,000 less than the £198,915 cost of the average British home according to the Halifax’s house price index. A buyer could find a modern 2 or 3 bedroom house and get change from £200,000.

A spokesperson for Zoomf commented that this area should benefit from inward investment over the next few years. The billions of pounds flowing into East London for the Olympics will also have a positive effect.