Where to buy property in London in 2013 and 2014

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

So London house prices soared by £50,000 over the last month. Yes, that’s right – fifty. thousand. pounds.

Asking prices in the capital soared 10% between September and October with average prices rising from £493,748 to £544,232.

At a time where even Google boss Eric Schmidt, who is willing to slosh out £30m for a house in the capital is struggling to find himself a home, what are your chances?

Don’t give up just yet. We’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.

 

Nunhead

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

Nunhead Cemetery, one of London’s finest Victorian cemeteries

Why you should buy here: Nunhead is ideal for young professionals and families with young children who can’t afford East Dulwich and Peckham. The area’s X Factor is its buzzing high street, which has everything from arty cafés to fishmongers.  The area also boasts one of London’s best kept secrets, the Nunhead cemetery. Consecrated in 1840, the cemetery has a spectacular view of St Paul’s Cathedral and hosts occasional theatre productions.

Average property value in Nunhead: £511,142

Detached: £513,708   

Semi-detached: £446,124      

Terraced: £398,146   

Flats: £259,276           

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 can’t afford to live in Shad Thames or Borough. 

It’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 children’s play areas are also on the cards.

Also, British Land is planning to convert the Daily Mail’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: £411,052

Detached: £498,980

Semi-detached: £436,341     

Terraced: £484,798    

Flats: £389,959    

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. 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: £362,783

Detached: £691,293   

Semi-detached: £533,573      

Terraced: £405,870   

Flats: £253,684           

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

Peckham

Petitou in Peckham

Petitou cafe in Peckham

Why you should buy here: If you’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 Frank’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 £10m 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: £336,062

Detached: £664,675   

Semi-detached: £589,485

Terraced: £400,576   

Flats: £252,473

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: London workers, young and old, are coming to this London suburb to both rent and buy. At an average asking price of £300,825, 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: £300,825

Detached: £416,787   

Semi-detached: £359,701      

Terraced: £309,321   

Flats: £208,427

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.

 

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 Bracey’s neon workshop (pictured) for one of the biggest collections of neon signs and artwork in the capital.

Average property value in Walthamstow: £282,142

Detached: £409,756   

Semi-detached: £358,256      

Terraced: £314,419   

Flats: £210,730

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

 

Enfield

Meridian Water, a £1.3bn redevelopment in Enfield

Meridian Water, a £1.3bn 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 London’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 £1.3bn 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: £281,210

Detached: £547,318       

Semi-detached: £359,151             

Terraced: £283,042         

Flats: £195,656  

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.

 

Tottenham

Tottenham Hotspur Football Ground

Tottenham Hotspur Football Ground

Why you should buy here: Tottenham’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 area’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: £280,810

Detached: £1,915,218

Semi-detached: £484,449      

Terraced: £306,775   

Flats: £207,279

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: 

Don’t turn up your noses at this London outskirt just yet. With the average asking price in the area at £293,100, the property scene is South Harrow is hotting up. Known to be a very family-friendly area, South Harrow is expected to get £16m-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. 

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: £271,710

Detached: £409,364   

Semi-detached: £337,199      

Terraced: £302,766   

Flats: £206,082           

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.

 

Croydon

Westfield Croydon

Artist’s impression of Westfield Croydon

Why you should buy here: Last week, Croydon-ers gave a collective groan to David Cameron’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 £1bn investment to transform the area’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 £1bn 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 Homes’ Saffron Square, for example. The 43-storey tower will provide 756 apartments which come with facilities like a roof terrace, a 24-hour 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: £259,348

Detached: £537,761       

Semi-detached: £303,214             

Terraced: £249,502         

Flats: £190,151

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. 

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Readers' comments (11)

  • Anonymous

    These places have now gone through the roof. For a first time buyer saving 40k minimum deposit and having a large mortgage is not easy. I found areas still in Zone 3 but not yet on the map are surely a good investment i.e Eastham and Plaistow, close to the city, Victorian houses and nice parks and still cheap enough to afford. The places above were a great purchase last year, but surely it's about bagging a bargain before the rush?

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  • garypotter1@hotmail.com

    Why is it that these people who are suppose to know about property know very very little on the London property scene. The writer of this article tells you "the good spots" to buy in London. Well I don't know where there heads are and they have no grasp of the prices I the areas they have written about. For example Walthamstow. The not. chance on this eSrth you can buy a house for less than £500.000 their facts are poor. Even in neighbouring Leyton the average house price for a terrace is now £450.000. So do your own research as this a article is full of misinformation.

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  • Anonymous

    If you are looking to buy just 20 mins from town center have a fab shopping centre on your doorstep and lots of open park spaces and the Olympic stadium with great housing stock then go to where the above writer has said. Leyton is a real up and coming area with lovely Edwardian and Victorian house and good sized gardens and great places to eat and drink. Why not try out the Leyton Tech pub it's just one of the many good places in Leyton. House prices are rising fast so come look and you will be pleasantly suprised.

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  • Anonymous

    The most affordable place with the most potential in London is SE18, Plumstead. Buy away from the high street closer to the common, amazing elevated views across London, hilly, lots of great Victorian houses, so many green spaces. Def one to watch. Woolwich gets cross rail but it will always be a bit grimy there, Plumstead is in walking distance to woolwich cross rail so you get the benefit and a much nicer area to live in.

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  • I agree rises have already shot up in most of these places. Walthamstow and Leyton were great options a few years ago these days a great alternative is north Forest Gate. It has a Victorian 'village' area lots of period houses and is surrounded by Wanstead flats which has lakes and heath land. It's zone 3 and will be con the new Crossrail line in a few years time. Transport is currently good with Forest GAte and Leyon tube nearby. It's a just-becoming-discoverd spot.

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  • London Stow

    Walthamstow has seen some increases over the past couple of years, but there are still many 3 bed terrace houses available for under £400K. This is actually pretty cheap in the context of London as a whole. A like-for-like 3 bed house in Stamford Hill would cost over £650K and there's no tube in Stamford Hill and really no town to speak of like Walthamstow.
    The wise home buyer would try to buy now. By Spring 2016 Walthamstow will have caught up with Stamford Hill and you will have 200K equity in your home.

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  • I strongly recommend Hither Green. There are some lovely Victorian Houses at a very reasonable price, especially on the western side of the station, we got so much space for our money! And the commute to central London is great, only 30 minutes to Charing Cross. The area is very safe and the people very friendly. Definitely a hidden gem!!!

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  • Vauxhall / Stockwell is a great investment area. The Vauxhall area has really changed over the last 5 to 10 years. Would be great to see more restaurants along the Wilcox road area.

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  • Why is Ealing not mentioned? Transport links are fantastic. 10 minutes link to Paddington. There are many parks here. Warpole park is being renovated to the original Regency style. There is horse riding stables, Ealing Common. Questor Theatres, Ealing Studios. and Open Ealing art group.

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  • I looked around and discounted the 'known' hotspots. I found a village in South East London called Bexley.
    5 minutes further out than Sidcup: But this means I get a seat everyday without fail.
    Zone 6, So still on Oyster
    the safe line on the train. passing through nicer areas so you avoid the blackspots on a late night commute
    It is South East, so I can be in London Bridge in 25 minutes, but I can also reach Charring Cross, Waterloo East or Cannon Street in around half an hour.
    I can be on the M25 in five minutes
    I can drive to the 02 or Greenwich in about 15 minutes.
    I am in the catchment for two Grammar Schools, both are rated exceptional by Ofsted.
    you can be stood in Borough Market or the west end far quicker than I could ever manage from Wimbledon.
    Work in the City? air-conditioned ride into Cannon Street.
    Woodland Walks, country side pubs, horse riding?
    and the station is in the centre of the town so you can have an easy commute and live near the restaurants and bars.
    a five minute walk to an overground in zone 6 does mean that you live closer to London than someone living a twenty minute walk from the tube in zone 2.
    miss the last train?
    Well I bought a three bed terraced Victorian cottage two years ago for £210,000 so I will pay for the odd taxi :)
    Friends who moved South West paid far more, don't have the schools, have never had a seat on a train and have the lovely choice of only Victoria...

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