Search Boats for Sale

    Is Living in London on a Narrowboat cheaper than a flat?

    It’s a question our boat sales brokers are asked all the time, is living aboard a narrowboat in London, cheaper than purchasing a flat in the capital? Can life aboard a narrowboat make city living more affordable? Let’s face it, many flats and apartments available in London are often smaller and more cramped than a narrowboat, so, could purchasing your own boat designed for city life be the better option?

    London Narrowboat 1

    London Flat Prices | Lakeland Leisure Boat Sales

    Recently house prices in London have soared to record highs, according to The Week, just last month the average price of a house in the capital sat at around £514,000:

    “According to the monthly snapshot issued by the Office for National Statistics (ONS) the break in stamp duty and pent-up demand from lockdowns has led to a boom in sales in the capital, The Guardian reports. Average house prices in the UK increased 7.6% over the year to November 2022, up from 5.9% in October 2022, the ONS said. Standing at a record high of £250,000, this is the highest annual growth rate the UK has seen since June 2016.”

    According to Foxtons, the average price for a flat in central London, will set you back (at the time of writing) around £1,079,986, with properties as small as 1 bedroom flats ranging from £105,000 to over £3,000,000!

    Of course, these prices are estimated valuations for the purchase of a property within the London area, and don’t take into account other taxes and living costs. Therefore to keep our comparison clear and concise, let’s simply consider the purchase value of a boat from our Boat Brokerage.

    London Narrowboat 2

    London Narrowboat Prices | Lakeland Leisure Boat Sales

    Simply put, the price of a narrowboat varies depending on a range of factors, from age, to size and style. At present we have a vast range of narrowboats available in the London area, of which can suit a range of different budgets, coming in at far less frightening prices than the cost of a flat in London. We’ve got quality narrowboats available, starting at just £29,999!

    So yes, purchasing a narrowboat in London is cheaper and much more cost effective than buying a flat!

    You should of course take into account that purchasing a narrowboat for living in does require a major lifestyle change and there are obviously other costs associated with purchasing a living in a narrowboat - much like there are when buying a flat. But for many, it is undoubtedly a brilliant option.

    If you think it’s the right step for you and your family, visit our website and take a look at our Buyers and Sellers Guide for more information on narrowboat sales in London.

    Leave a Comment
    Follow Us
    What's New?
    The Best Canal Holiday Destinations for 2022
    Check out our guide on the top canal holiday destinations to visit in 2022. Explore Britain by canal this summer
    Decorating your Boat this Christmas
    Are you looking for Christmas inspiration for your narrowboat? Check out our 2021 Christmas decor guide for canal boats!
    Meet the People Making London’s Canals Safer
    Meet the army of volunteers working through the night to make London’s canal network safer for canal users