LOOKING TO BUY YOUR FIRST HOUSE? YOU NEED TO DOUBLE CHECK THESE DETAILS

London is the most expensive place in the UK to buy a house. Shocker, right?Still, this fun fact can make it a real challenge when you’re trying to find the ideal spot to invest or put down roots.

Then, on top of the usual money pressures, other variables can affect quality of living, from noise pollution to local crime and everyday household bills and rates.

But with a little know-how, the right intel and a discerning eye, there are ways to save a *little* money if you know the right areas to scout.

Doing us a real solid, the team at price comparison site Quotezone have compiled the ultimate Londoners guide to house hunting by creating a home buyers index, to help potential owners with their research.

And we love any opp to save some dosh.

The guide compares London to regions across England for house price, crime rate, noise pollution, rates and insurance prices – the latter of which may be the easiest area to save on.

According to the guide, although burglary rates and noise disruption are highest in London, the capital has witnessed the highest drop in house prices over the last 12 months, down 4.8%.

Council tax changes between London boroughs provide an opportunity for house hunters to cut costs, with tax charges fluctuating between £492 in the City of Westminster to £1813 in Kingston Upon Thames.

Other factors such as noise pollution and proximity to busy roads are also worth taking into consideration when choosing a property location.

Unsurprisingly London topped the ratings for people who were annoyed or sleep-deprived by road noise, but the North West followed close behind with 99 and 79 people per 100,000 annoyed and not sleeping due to the noise.

Want to save on home insurance?

Metro Finance has teamed up with Quotezone to help readers save money on their home insurance.

You could save up to £201* Plus you will receive a £20 Amazon voucher with every policy purchased**

Get your quotes here.

Still, there’s potential for savings if you want to buy in London – but, it all depends on which borough you choose to live in.

South Woodford came in dearest for home insurance at £745 a year on average, the cheapest was Charleton at £190 – a difference and potential saving of £549.

Founder and CEO of Quotezone.co.uk, Greg Wilson, said: ‘London is an incredible city and understandably in high demand for properties.With the annual house price dropping by nearly 5% within the last year, it could mean potential for many investors and families to snap up desirable properties.

‘As the economy starts to show initial signs of recovery, it’s hoped 2024 will see much more movement across the housing market.

‘Given it’s not a quick or easy process to change houses these days, buyers have to be extra careful where they buy, ensuring they do the research to find if the property and the area suits their household now and for the next several years.

‘Our index is designed to help house hunters with their research, pulling together elements they should be wary of such as burglary incidents and excessive noise.’

When is came to insurance policies, Wilson added: ‘House hunters can shop around for competitive prices and add or remove extras they don’t need to find savings and protect their finances. Using our index can help as it shows the average home insurance price in that borough – so homeowners can gauge if they’re getting a good deal and if not, renegotiate or switch providers.’

3 key online searches house hunters must do before booking the first viewing

Top 3 Watch Outs on Property Location:

  1. Crime – research local crime rates to get insights into the safety of the neighbourhood before deciding to purchase a property – even consider street lighting and areas covered by neighbourhood watch.
  2. Flooding – check an area’s flood risk by entering the postcode into the gov.uk flood website, living in a higher-risk area could mean the property is in danger and finding home insurance cover could be difficult.
  3. Subsidence – check online maps before viewing to review any history of subsidence in that area, previous insurance claims for subsidence can also be found online.

Quotezone also created a potential hazards list for house hunters when it comes to viewing the property for the first time, helping house hunters to spot any dangers or issues onsite.

*51% of consumers could save £201.06 on their Home Building & Contents Insurance. The saving was calculated by comparing the cheapest price found with the average of the next fourteen cheapest prices quoted by insurance providers on Seopa Ltd’s insurance comparison website. This is based on representative cost savings from January 2024. The savings you could achieve are dependent on your individual circumstances.

** For more information about redeeming voucher, please visit: mailfinance.co.uk/voucher-terms.

For your weekly property newsletter, for the latest news, features and advice, sign up for Metro's The Key newsletter

2024-05-24T14:55:57Z dg43tfdfdgfd