Buying a home in London is not cheap. In fact recent research showed that London is home to the top 20 most expensive streets in the UK.

While many Londoners are keen to save and put money away to get on the property ladder, it's easier said than done when living in the capital.

However, new research has now revealed the most affordable boroughs in London and the list might just surprise you.

In the study by Southpark Removals, they looked at the difference between average salary and average house price across the 32 Greater London boroughs to discover where's the most affordable.

Crowing the likes of Tower Hamlets, Havering, Barking, Bexley and more as some of the most affordable boroughs in London.

East London and West Essex Guardian Series: Do you live in one of London's most affordable boroughs? Do you live in one of London's most affordable boroughs? (Image: Getty)

Discussing the data, Southpark Removals shared that recent analysis has shown that London house prices are down by as much as £236,000.

Adding that between January and December last year, the average London house price fell by 5.2% which was the largest decline of all UK regions.

The decline is said to be down to a worsening rental crisis that is prompting first-time London buyers to consider buying their own home. 

The 10 most affordable London boroughs to buy your first home

You can see the full list of the most affordable boroughs in London below: 

  1. Tower Hamlets: Average annual salary equates to 13.9% of average house price 
  2. Havering: Average annual salary equates to 10% of average house price 
  3. Barking and Dagenham/Newham: Average annual salary equates to 9.5% of average house price 
  4. Bexley: Average annual salary equates to 8.8% of average house price 
  5. Croydon: Average annual salary equates to 8.4% of average house price 
  6. Bromley: Average annual salary equates to 8.1% of average house price 
  7. Southwark: Average annual salary equates to 8% of average house price 
  8. Hillingdon: Average annual salary equates to 7.8% of average house price 
  9. Greenwich/Sutton: Average annual salary equates to 7.7% of average house price 
  10. Lewisham: Average annual salary equates to 7.4% of average house price 

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Tower Hamlets topped the list with the average wage falling somewhere between £78,000 and £80,000, according to Tower Hamlets Council and Plumplot.

The average price of a home in the area is £575,183, according to Rightmove, meaning the average yearly salary equates to 13.9% of the average house cost. 

You can find out more information via Southpark Removals.