Buying property in London can be a challenging business because London is a huge metropolis, comprising distinct areas, each with a different character. Perhaps more importantly, house prices are high. The economics behind this is simple - demand for housing is massive and supply is limited. But this shouldn't mean the end of your ambitions to own your own home - and it can even work in your favour, if you catch the market at the right time and invest in the 'right' property.

It isn't easy to know exactly what the 'right' property is, but to get value for money most buyers tend to look for up-and-coming areas - places with slightly restricted transport links, potential for improvement, or areas where regeneration schemes are planned or in progress. If you're a Saudi millionaire or a Spice Girl then tried-and-tested properties in Kensington may seem a good bet, but mere mortals might wish to look for less grandiose properties in East London, which in any case offers a more interesting and diverse environment.

If you're planning to buy a property to live in then East London is a particularly good option if you like cutting edge places, where you are just as likely to find a Bangladeshi restaurant on one street, an artist's studio on another and bric-a-brac being sold just around the corner. Spitalfields and Brick Lane are typical East London areas, with their network of traders, modern creatives and original cockneys. The Spitalfields regeneration project has greatly improved this already much-loved area, adding two new public areas and a traders' market; Hackney has seen an influx of trendy young artists.

East London property is increasingly popular with people keen to get a foot on the property ladder. Green Street in East London is a riot of colour, because it is the home of Asian fashion. Vibrant reds, greens and blues, as well as the glitter of gold, entice the shopper - and flat hunters.

For a very different experience, you could always look for property in Canary Wharf. One of the most cosmopolitan places in London, it is famous for its exciting urban architecture, including the skyscraper One Canada Square, which is the tallest building in London. The wharf is also home to over two hundred designer, independent and high street stores, housed in three malls. Built to a Canadian model, these are underground and therefore perfect for winter shopping. Also on the water, Greenwich's maritime history makes it a favourite with anyone who loves history, the sea or authentic local pubs.

To buy property in East London, simply decide what kind of lifestyle and property you would like and start hunting. There are flats and houses for sale in East London to suit all kinds of budgets and with the 2012 Olympics set to pour more money into East London, your investment might work out even better than expected.