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When Evelyn Waugh moved to Canonbury Square, Islington, in 1928, his peers were appalled he could countenance living at such an “infra dig” postal address. Nowadays, you don’t get much more dignified than N1, where most houses fetch upwards of £1m.

Nor is it just this particular north London enclave, beloved of the polenta-eating and prosecco-drinking classes, that has been gentrified: the knock-on effect has been felt in nearby Hackney (E8/E9), as well as in Stoke Newington (N16), which has become one of the most upwardly mobile places in the capital in the past few years.

So, with the average price of a home in London now £453,773, according to Hometrack, are there any postcodes left that haven’t already up and come – places where you can get a one-bedroom flat for about £150,000 and still be within easy reach of a decent latte or farmers’ market? The answer is yes, but you have to know where to look. Here are our top five tips.

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BOUNDS GREEN, N11

This area, next to Muswell Hill, has plenty of outdoor space with nearby Alexandra Palace and Broomfield Park; decent schools, especially primary; and excellent transport links, as it is on the Piccadilly Line, and 20 minutes on the overland train from Bowes Park to Moorgate, making it ideal for City commuting.

There is a mix of period houses and purpose-built blocks, all a 10-minute walk from the trendy cafes and shops of Muswell Hill. “It’s not chichi at all here, though,” says Mary Braid, 46, a university lecturer, who moved from Muswell Hill two years ago. “I had a two-bedroom flat in a period conversion, but I wanted a garden, and on one salary there was no way I could afford that where I was.”

Braid paid £250,000 for a three-bedroom, end-of-terrace Victorian cottage, which she estimates would now fetch £350,000. “I was able to buy something much bigger, much nicer and much quieter.” Plus, she is probably just as close to the amenities of Muswell Hill as she was before.

Council tax band D: £1,431

Journey time to central London: 20 minutes (Tube)

Cost of one-bedroom flat: from £200,000; three-bedroom terrace: from £365,000

PLAISTOW, E13/E16

Plaistow, in east London, is right on the doorstep of Canary Wharf. According to local estate agents Spicer McColl (020 7476 3114, www.spicermccoll.co.uk), when the market in neighbouring Stratford became overinflated on the back of London’s successful bid for the 2012 Olympics, investors started looking here. There are a number of new-build developments, many overlooking the river.

Much of the area’s housing stock is postwar, so period Victorian or Edwardian properties are in short supply. One-bedroom flats cost from £140,000, whereas a dockside property costs from £250,000. There are a couple of good single-sex church schools in the area and West Ham Park is a 10-minute walk away.

Further to the east is the government-backed Thames Gateway, which will see 160,000 new homes built by 2016, with all the requisite infrastructure, such as schools, hospitals and public spaces. At present, Stratford is the nearest shopping hub, although Canary Wharf and Greenwich are 15 and 30 minutes away (by Tube and Docklands Light Railway).

Council tax band D: £1,220

Journey time to central London: 20 minutes (Tube)

Cost of one-bedroom flat: from £140,000; three-bedroom terrace: from £220,000

BECKENHAM, BR3

Green space is vital for our health and wellbeing,” says Lewisham council, and nowhere in the borough has more of it than Beckenham. (Part of Beckenham comes under its remit, the rest constitutes Bromley.) Besides Beckenham Green and Kelsey Park, there is also the 200-acre Beckenham Place Park, which boasts an 18-hole golf course and a clubhouse situated in a Grade II-listed mansion house.

Overland trains to Victoria and London Bridge make the area popular with commuters. “Property prices have increased 10% in the past 12 months,” says Kristina Smith, a branch manager at Haart estate agents, “and they are tipped to continue growing, despite a cooling elsewhere.”

Residents like the area because it has a relaxed feel, yet they are only a stone’s throw from the city. Retail needs are met at nearby Bromley shopping centre, where there is also a weekly farmers’ market. Croydon’s shops are easily reached by the tram.

There are plenty of family homes, although three-bedroom houses in the more salubrious streets can cost as much as £1m. Schools in the area have a good reputation, too.

Council tax band D: £1,160

Journey into central London: 15 minutes (overland)

Cost of one-bedroom flat: from £150,000; three-bedroom terrace: from £325,000

RAYNES PARK, SW20

When property prices in Wimbledon went through the roof, buyers had only to head down Worple Road, the street that runs from SW19 down to SW20. While the look of the properties isn’t so different – there are plenty of period houses and apartment blocks – the prices certainly are.

“The slowdown in the market hasn’t affected Raynes Park,” says Hilary King, the local branch manager of Haart. “Average property prices here have increased 20% in the year to June, although there has been particular demand for flats, which have gone up 45%.”

Raynes Park is a perfect commuter location, since there is a direct line to London Waterloo, with trains every five minutes during peak time. In 10 days’ time, the Eurostar relocates to St Pancras, which means that with fewer trains coming through and more platforms available, access to Waterloo will be greatly improved.

Council tax band D: £1,354

Journey time to central London: 20 minutes (overland)

Cost of one-bedroom flat: from £165,000; three-bedroom terrace: from £320,000

HAYES, UB3/UB4

Hayes is close to both Windsor and Ealing, yet it hasn’t experienced the rapid price growth of either. And the fact that it is only two miles from the M4 and right by Heathrow airport means getting away is an easy option. And it doesn’t suffer from aircraft noise, as it isn’t under the flight path.

“Undoubtedly, the main attraction of Hayes is its affordability,” says Mark Radcliffe, the manager of the Hayes branch of Haart (020 8573 0550, www.haart.co.uk), “so it is extremely popular with buy-to-let investors.”

The lower end of the market has seen 11% growth in prices since January, but it is still possible to buy a one-bedroom flat for £150,000. Prices become higher both as you move closer to the centre or further out into green-belt Berkshire and Buckinghamshire.

There are plenty of upmarket retail-therapy opportunities to hand – from Ealing and Uxbridge to Gerrards Cross in Buckinghamshire. Hayes & Harlington overland station is part of the £16 billion Crossrail link, due for completion in 2017. As Ken Livingstone, the mayor, puts it, “Crossrail is not just a transport scheme, it is the key to the next 20 years of economic development in London.”

Council tax band D: £1,300

Journey time to central London: 20 minutes (overland)

Cost of one-bedroom flat: from £150,000; three-bedroom semi: from £260,000

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