OneDome reviewed listings on major property portals, including Rightmove, Zoopla, Nethouseprices and its own search engine.
The cheapest property on the market – excluding shared ownership, retirement homes and houseboats – is a studio flat measuring just 192 sq ft in Blythe Hill, Lewisham (SE6), marketed at £125,000.
If the new stamp duty thresholds had not taken effect on 1 April this year – reducing the 0% threshold for non-first-time buyers from £250,000 to £125,000 – this would have been the only property in London currently exempt from stamp duty.
The disappearance of sub-£100k properties marks a symbolic moment in London’s housing history, highlighting just how far prices have climbed – even in what many describe as a ‘stagnant’ or ‘cooling’ market.
A price point that once offered a foothold onto the ladder in certain fringe areas has now been entirely wiped out.
The £100k barrier was once considered the benchmark for entry-level affordability in outer boroughs such as Barking & Dagenham, Croydon or parts of Newham. But today, that threshold no longer returns a single result.
OneDome’s research shows that the only properties listed below £100,000 are shared ownership homes (where buyers purchase a share of the property), auction lots with guide prices and houseboats.
Babek Ismayil, founder of homebuying platform OneDome, comments: “We’ve reached a symbolic tipping point - £100,000 no longer buys anything in the London property market - not even a tiny studio or a major fixer-upper. It’s a milestone that signals the complete disappearance of a price bracket that once represented the very bottom rung of the ladder.
“In the past, this figure could still secure a modest flat in some of the capital’s outer boroughs, or even the occasional bargain in a more central area if you were lucky. Today, that price point has been entirely erased from the mainstream market. Even in a period where house prices are said to be cooling, we’re still seeing affordability slip further away for the average buyer.
“This is not just about numbers on a spreadsheet. It’s about the psychological barrier for those dreaming of homeownership in the capital.
“When the most affordable property - excluding shared ownership and auction stock – is a 192 sq ft studio in Lewisham for £125,000, it tells you everything you need to know about the scale of the challenge."
