Real estate in London is a precious commodity. Property prices in London are generally beyond affordability for most people. Even for those visiting, London accommodation can be very pricey, often forcing visitors to break their budget.
Thankfully, there are a number of options for those who do not wish to spend a fortune on accommodation in London. For those who live in London but cannot afford to purchase property in the city, rental accommodation is the best bet.
For those who are visiting London on a small budget, cheap accommodation can be found in hostels, especially youth hostels, as well as in budget hotels. Camping is also an option, although lesser known to people due to its unconventional nature. There are a number of campsites around London and dormitory accommodation may also be available at some of these.
Hostels and lodges are also a good way to go for budget travellers. There are a number of websites that have information about various types of accommodation in London, and even have listings of various lodges, campsites, and hostels.

A complete guide to property in London from selling to buying.