It was revealed recently that first time buyers in London can expect to pay £400,000 on average for a property.* But, despite the financial challenges that anyone getting on to the property ladder in the capital faces, the number of first time buyers is increasing, up 7.9% year-on-year, latest Land Registry statistics show.**
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First time buyers have been encouraged to go for it partly by the government’s London-specific Help to Buy scheme, but also by their discovery of lesser-known, more affordable areas of the capital to buy in. Here’s five we think are worth a look.
Where is it? Straddling the South Circular between Forest Hill and Eltham.
In a nutshell? Plans are afoot to pump money into Catford’s town centre and Broadway but already signs of regeneration are afoot including several new homes developments completed or under construction. There are two railway stations and talk of the Bakerloo line arriving.
Property? One-bedroom apartments from £190,000, two-bedroom apartments from £240,000, three-bedroom houses from £390,000.
Interested in Catford? Contact our Catford branch
South Norwood, SE25
Where is it? In South London between Crystal Palace and Croydon in the London borough of Bromley.
In a nutshell? A largely Victorian-era suburb served by trains into London and trams into Croydon with a lively high street and a country park. Popular areas include South Norwood Hill, Beaulieu Heights and the streets near Norwood Junction station.
Property? One-bedroom apartments from £160,000, two-bedroom apartments from £250,000, three-bedroom houses from £350,000.
Interested in South Norwood? Contact our Crystal Palace branch
Friern Barnet, N11
Where is it? Above the North Circular between Finchley and Southgate.
In a nutshell? A largely Victorian and Edwardian-era railway suburb with a bucolic feel with a train station (New Southgate) plus Bounds Green tube station nearby. Sought after areas include Princess Park Manor, a converted Victorian hospital formerly home to several members of One Direction, and adjacent Friern Village.
Property? One-bedroom apartments from £250,000, two-bedroom apartments from £300,000, three-bedroom houses from £350,000.
Interested in Friern Barnet? Contact our Finchley branch
Where is it? Between Shepherd’s Bush and Ealing on the Uxbridge Road. It’s split into several distinct areas; East, West, North and central Acton plus Gunnersbury Park.
In a nutshell? This former industrial area has long been Ealing’s less regarded neighbour but that’s all changing, fast. The area has three train stations and two tube stations that bear its name as well as a gorgeous Victorian park.
Property? One-bedroom apartments from £290,000, two-bedroom apartments from £330,000, three-bedroom houses from £550,000.
Interested in Acton? Contact our Ealing branch
Where is it? Down the hill from Crystal Palace in soth east London, within the borough of Bromley.
In a nutshell? A Victorian-era railway suburb with good Southern and Overground links into central, north and east London. The Croydon tram stop also swings through on its way to Beckenham Junction. The popular roads are either those to the east of Anerley Station or further towards Crystal Palace including Thicket Road and Anerley Park.
Property? One-bedroom apartments from £220,000, two-bedroom apartments from £275,000, three-bedroom houses from £400,000.
Interested in Anerley? Contact our Crystal Palace branch
Search all our area guides for information on neighbourhoods across the Capital.