That was according to Barratt London, which found that nine of the lowest deposits near tube stations are near the District line, with an average deposit of just over £35,000.
Image above: Andrew Shaw
The District line is the most affordable London Underground network for those looking to buy and rent in the city.
That was according to Barratt London, which found that nine of the lowest deposits near tube stations are around the District line, with an average deposit of just over £35,000.
For renters, the District line and Piccadilly line share eight of the 10 most affordable stops, including Elm Park (District) where the average rent is £1,146 per month, and Hatton Cross (Piccadilly), where the rent average is £1,180.
Barratt said that at District line stations such as Upton Park, buyers would need to set aside a little over two years rent (2.19 years) to afford the £39,601 average 10% deposit.
A spokesman for Barratt London said: “Commuting is such a crucial aspect to life in London that people need to find their most effective way to get around the city.
“From our research, it’s important to highlight that there are affordable areas to buy in London that remain within a stone’s throw of a tube station.
“In Newham, for example, where the average 10% deposit is currently just over £39,500, a further 800 homes are due to be built within a six-minute walk of Upton Park station.”
The cheapest station to live near to is Dagenham East, where the average property price is just short of £310,000 and potential homebuyers would need an average deposit of £30,895.
The area is due to receive investment in the coming years, where there are plans to build London’s largest film studios in 25 years, East Brook Studios.
Across all the 265 stops analysed by Barratt London, the average deposit was found to be just over £105,000 (£105,898), while the average monthly rent across the city was just shy of £2,500 (£2,479).
