Home Residential Property Where to buy property in London in 2013 and 2014

Where to buy property in London in 2013 and 2014

by LLP Editor
29th Oct 13 9:15 am

Where should you invest this year? Read: Where to buy property in London in 2016 and 2017

So London house prices soared by ยฃ50,000 over the last month. Yes, thatโ€™s right โ€“ fifty. thousand. pounds.

Asking prices in the capital soared 10% between September and October with average prices rising from ยฃ493,748 to ยฃ544,232.

At a time where even Google boss Eric Schmidt, who is willing to slosh out ยฃ30m for a house in the capital is struggling to find himself a home, what are your chances?

Donโ€™t give up just yet. Weโ€™ve done some digging around to see which London areas are up-and-coming and where you may be able to get a toe on the ladder.

Check out the London areas where you should invest in 2013 and 2014.

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Nunhead

Nunhead Cemetery.... One Of London's Finest Victorian Cemeteries

Nunhead Cemetery, one of Londonโ€™s finest Victorian cemeteries

Why you should buy here: Nunhead is ideal for young professionals and families with young children who canโ€™t afford East Dulwich and Peckham. The areaโ€™s X Factor is its buzzing high street, which has everything from arty cafรฉs to fishmongers.ย  The area also boasts one of Londonโ€™s best kept secrets, the Nunhead cemetery. Consecrated in 1840, the cemetery has a spectacular view of St Paulโ€™s Cathedral and hosts occasional theatre productions.

Average property value in Nunhead: ยฃ511,142

Detached: ยฃ513,708ย ย ย 

Semi-detached: ยฃ446,124ย ย ย ย ย ย 

Terraced: ยฃ398,146ย ย ย 

Flats: ยฃ259,276ย ย ย ย ย ย ย ย ย ย ย 

Transport links: Nunhead is served by Thameslink trains. Victoria is 15 minutes away, while St Pancras is a 25-minute journey.

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Rotherhithe

View across the River Thames to Canary Wharf from the sandy foreshore of Rotherhithe

View across the River Thames to Canary Wharf from the sandy shores of Rotherhithe

Why you should buy here: Rotherhithe is fast-becoming a residential hotspot for twenty-somethings who canโ€™t afford to live in Shad Thames or Borough.ย 

Itโ€™s also a beneficiary of property developments in Canada Water. Sellar Property Group, the property developer behind the Shard, is planning to build 1,030 homes in the area. Plans for shops, a cinema, open space and childrenโ€™s play areas are also on the cards.

Also, British Land is planning to convert the Daily Mailโ€™s Harmsworth Quays printworks into 1,000 homes.

The Thames foreshore at Cumberland Wharf, Rotherhithe is popular among locals for its beach fishing taster sessions.

Average property value in Rotherhithe:ย ยฃ411,052

Detached: ยฃ498,980

Semi-detached: ยฃ436,341ย ย ย ย ย 

Terraced: ยฃ484,798ย ย ย ย 

Flats: ยฃ389,959ย ย ย ย 

Transport links: Rotherhithe has an Overground station and Canada Water Tube station is also nearby. It takes 20 minutes to get to Victoria from Rotherhithe.

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Forest Hill

View from Horniman Gardens in Forest Hill

View from Horniman Gardens in Forest Hill

Why you should buy here: This end of the capital is still very affordable and the arrival of the Overground means that you can be in central London within half an hour. Forest Hill has a mishmash of crowds buying here for both investment purposes and setting up first homes.ย Visit the wonderful Horniman Gardens for amazing views of London. Residents recommend the Hopscotch cafe bar in Honor Oak for live local music.

Average property value in Forest Hill: ยฃ362,783

Detached: ยฃ691,293ย ย ย 

Semi-detached: ยฃ533,573ย ย ย ย ย ย 

Terraced: ยฃ405,870ย ย ย 

Flats: ยฃ253,684ย ย ย ย ย ย ย ย ย ย ย 

Transport links: The Overground line from Croydon passes through Forest Hill and goes north to Shoreditch and Highbury.

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Peckham

Petitou in Peckham

Petitou cafe in Peckham

Why you should buy here: If youโ€™ve got the money to invest then keep your postcode prejudices aside and invest in Peckham. Gone are the days when street crimes and murders defined this area.

Peckham is attracting the East London and Shoreditch crowd with a lot of trendy hangouts such as the Busy Building and summertime pop-ups like Frankโ€™s Campari Bar. Petitou (pictured), a cafe in the area, is supposed to be a must-visit.

Also, a group of young artists are calling for the 10-storey Peckham Rye car park to be transformed into a permanent arts centre. The ยฃ10m project is expected to create 500 new jobs.

Another pull for the area is its transport links. Peckham benefitted from the second phase of the East London Line extension, which linked Surrey Quays and Clapham Junction.

Average property value in Peckham: ยฃ336,062

Detached: ยฃ664,675ย ย ย 

Semi-detached: ยฃ589,485

Terraced: ยฃ400,576ย ย ย 

Flats: ยฃ252,473

Transport links: Peckham Rye station is served by the Overground, and Southern Trains also operate from the station. You can get to London Bridge within 10 minutes, Blackfriars within 13 minutes and St Pancras/Kings Cross within 23 minutes.

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Morden

The Baitul Futuh Mosque in Morden

The Baitul Futuh Mosque in Morden

Why you should buy here: L
ondon workers, young and old, are coming to this London suburb to both rent and buy. At an average asking price of ยฃ300,825, the area also attracts young families buying homes for investment purposes.

This leafy area boasts 120 acres of parkland through which the River Wandle runs. It also has a lot of leisure facilities including golf courses, tennis and bowling clubs and the famous Epsom Downs race course only a 15-minute drive away.

The area also boasts one of the largest mosque complexes in western Europe, which can hold up to 10,000 worshippers.

Average property value in Morden: ยฃ300,825

Detached: ยฃ416,787ย ย ย 

Semi-detached: ยฃ359,701ย ย ย ย ย ย 

Terraced: ยฃ309,321ย ย ย 

Flats: ยฃ208,427

Transport links: Morden Underground station is served by the Northern line. Other nearest railway stations and tramlink stops include Morden South railway station, Morden Road tram stop, South Merton railway station, St. Helier railway station, Belgrave Walk tram stop and Mitcham tram stop.

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Walthamstow

Chris Bracey, neon sign maker at his workshop in Walthamstow

Chris Bracey, neon sign maker at his workshop in Walthamstow

Why you should buy here: No longer a grim East London area, Walthamstow has its own hashtag on Twitter, #Awesomestow. Walthamstow has a lot of middle class families that like the area for its easy access to great green spaces like the Lee Valley, Hollow Ponds and Epping Forest. Residents highly recommend walking or cycling to the forest.

Walthamstow also has a close-knit community centred around Walthamstow Village – a hub of shops, restaurants and bookshops. Keep an eye out for Chris Braceyโ€™s neon workshop (pictured) for one of the biggest collections of neon signs and artwork in the capital.

Average property value in Walthamstow: ยฃ282,142

Detached: ยฃ409,756ย ย ย 

Semi-detached: ยฃ358,256ย ย ย ย ย ย 

Terraced: ยฃ314,419ย ย ย 

Flats: ยฃ210,730

Transport links: Catch the Victoria line from Walthamstow Central. Oxford Circus isย  20-25 minutes. Walthamstow Central to Liverpool Street is just 19 minutes.

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Enfield

Meridian Water, a ยฃ1.3bn redevelopment in Enfield

Meridian Water, a ยฃ1.3bn redevelopment in Enfield

Why you should buy here: Voted the third-best area for buy-to-let properties in London by HSBC, Enfield is just the area for you to make a quick buck in Londonโ€™s property market. Also, the area attracts families who have been priced out of areas like Crouch End and Muswell Hill.

An opportunity to look out for in the area is the redevelopment of four 1960s tower blocks at Ponders End with low-rise maisonettes and a single high-rise block on the edge of the estate. The development contains 794 homes 59% of which will be for private sale and 41% for affordable homes, along with a new retail space, gym and health facitlity.

Another development tipped to make the area a property hotspot is Meridian Water (pictured), a ยฃ1.3bn development for 5,000 new homes, a high street running through the middle of the development, health and library facilities, schools and local shops.

Average property value in Enfield: ยฃ281,210

Detached: ยฃ547,318ย ย ย ย ย ย ย 

Semi-detached: ยฃ359,151ย ย ย ย ย ย ย ย ย ย ย ย ย 

Terraced: ยฃ283,042ย ย ย ย ย ย ย ย ย 

Flats: ยฃ195,656ย ย 

Transport links: It takes just 35 minutes to get from Enfield Town and Bush Hill Park stations to Liverpool Street. Other alternatives are changing at Seven Sisters and Moorgate on to the Tube.

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Tottenham

Tottenham Hotspur Football Ground

Tottenham Hotspur Football Ground

Why you should buy here: Tottenhamโ€™s fast-becoming a property hotspot, thanks to regeneration in the area after the 2011 riots. Home to Premier League football club Tottenham Hotspur, the area also boasts several housing developments.

In addition, the areaโ€™s iconic town hall has been turned into a new housing development called Isobel House which has 68 one and two-bedroom flats.

Average property value in Tottenham: ยฃ280,810

Detached: ยฃ1,915,218

Semi-detached: ยฃ484,449ย ย ย ย ย ย 

Terraced: ยฃ306,775ย ย ย 

Flats: ยฃ207,279

Transport links: Train stations include Bruce Grove (National Rail), Northumberland Park, Tottenham Hale and White Hart Lane. The Victoria Line serves the area from Tottenham Hale Tube station.

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South Harrow

Why you should buy here:ย 

Donโ€™t turn up your noses at this London outskirt just yet. With the average asking price in the area atย ยฃ293,100, the property scene is South Harrow is hotting up. Known to be a very family-friendly area, South Harrow is expected to get ยฃ16m-worth economic and transport benefits from the Crossrail project due to open in 2017.

The area is ideal for first time buyers and boasts a lot of 1930s-style semi-detached properties and has its share of modern developments too.ย 

Also, Harrow School, which counts Winston Churchill, Lord Byron Benedict Cumberbatch and James Blunt as alumuni, is in the vicinity.

Average property value in South Harrow: ยฃ271,710

Detached: ยฃ409,364ย ย ย 

Semi-detached: ยฃ337,199ย ย ย ย ย ย 

Terraced: ยฃ302,766ย ย ย 

Flats: ยฃ206,082ย ย ย ย ย ย ย ย ย ย ย 

Transport links: Train stations include Northolt Park, Harrow on the Hill, Sudbury Hill Harrow, South Ruislip and Harrow & Wealdstone. Underground stations include South Harrow, Rayners Lane, West Harrow, Sudbury Hill and Harrow-on-the-Hill.

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Croydon

Westfield Croydon

Artistโ€™s impression of Westfield Croydon

Why you should buy here: Last week, Croydon-ers gave a collective groan to David Cameronโ€™s happiness index which voted Croydon as the least happy place in London.

The area has moved on from its riot-stricken image and London Mayor Boris Johnson announced a ยฃ1bn investment to transform the areaโ€™s economy and drive employment.

Property punters betting their money on the area have loads to be happy about. Croydon boasts Westfield and Hammerson investing ยฃ1bn into the Whitgift Centre. The area also has its own Tech City and Superdrug HQ too.

Hot residential developments are also on the rise. Take Berkeley Homesโ€™ Saffron Square, for example. The 43-storey tower will provide 756 apartments which come with facilities like a roof terrace, a 24-h
our concierge, residents-only gym and one-acre of landscaped gardens. The tower also comes with over 17,300 sq ft of retail floor space.

Average property value in Croydon: ยฃ259,348

Detached: ยฃ537,761ย ย ย ย ย ย ย 

Semi-detached: ยฃ303,214ย ย ย ย ย ย ย ย ย ย ย ย ย 

Terraced: ยฃ249,502ย ย ย ย ย ย ย ย ย 

Flats: ยฃ190,151

Transport links: Trains from East Croydon to London Victoria have journey times of 15 minutes, while those to London Bridge take only 13 minutes. Croydon has a direct rail link to Gatwick and trams run through the area.ย 

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