• Kevin Murphy

London Property: Zones 3 & 4

LONDON - While London home prices have become almost legendary for what you pay for and what you get there are still good home values around the capital. Transportation improvements have now made locations that seemed far away or difficult to move around from now closer and more reasonable for buyers. One benefit is Crossrail and its links across the metropolitan area which now connects the outer transport zones to the city.

Where to Look

An analysis of the best spots for residents to consider was recently released by property firm Portico. The homes in this list are in the London transport zones 3 and 4.

First is Tottenham Hale where the average price for a home is £492,070 in zone 3. Its becoming popular due to its increasing potential as being a major transport hub with a new Victoria Line tube station, a Stansted Express airport link and affordable housing.

Zoopla data shows housing prices have increased by 0.75% from January 2017 with housing purchases expecting to increase when Crossrail 2 comes on-line.

Next and also in zone 3 west of Tottenham is Wood Green with its average home price of £504,104. Prices in the area are considered reasonable and new work is underway for construction of 4,500 new homes with 4,000 new jobs planned.

Forest Gate is an area that has seen increases in home values though considered undervalued for this zone 3 area. The average home is valued at less than £406,000 with a 12 month value increase of £8,115.

One location gaining the attention of buyers is Crystal Palace where average home values at £409,796. This area has been called the 'new Brixton' as regeneration, property types and transport by Overground to Victoria Station in central London.

Several schemes have been considered in the past by the local authorities but the park is seeing investments for zone 3/4 residents.

Another zone 3 hotspot is Forest Hill with average prices for homes at £537,018. The average change in value over a 12- months is £14,184. This South East area of London has seen its share of growth as other London locations with higher prices make this area attractive along with being close to East Dulwich.

Zone 3 location Leyton offers more house for the money, good schools and green spaces. With its close proximity to Stratford and its regeneration there should be even more attention the Leyton area. Housing prices over a 12 month period have risen on average by £10,973 and average home values are £417,365.

Finally, Woolwich Arsenal in zone 4 is considered a buyers location with home values at an average of £345,219 and 12 month appreciation of £5,625 on average. This location thank to Crossrail with the new Elizabeth Line will benefit those who need to commute to Canary Wharf, central London and Heathrow Airport.

Additionally, there is a planned £40million major arts hub close to the new station that should attract residents.

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