House prices in Croydon are among the lowest in the London, according to new figures released by Nationwide Building Society.

At an average of £244,680, the borough is the fourth cheapest in London - beaten only by the boroughs of Barking and Dagenham (£204,367), Bexley (£222,028) and Havering (£222,313).

However, prices in Croydon did rise by 12 per cent in the last quarter, compared with a rise of 10 per cent in the previous one.

Nationwide said the annual pace of house price inflation was the highest it had been since the first quarter of 2003.

The average house price in London is £292,409. The most expensive boroughs to live in are Westminster, where a house will set you back £589,101, and Camden where the average price is £513,685.