To ask which areas of London are still ‘affordable’ for buying property?

[Acapulco12]

Looking for some advice on which areas in London are best (ie most affordable) for buying a property.

I’m a first time buyer looking for a house (rather than a flat), but willing to compromise on space for location and condition. I’d prefer to have a smaller house - but which doesn’t need a huge amount of work immediately - in a more central area that’s close to transport links. I’m happy to do work on the house over the years though - just would prefer to move in somewhere that doesn’t need a complete immediate renovation job.

Any advice on areas I could look at please?

I’ve been looking mainly at Streatham and really like that area (nice parks, good amenities and shops, have visited the area a few times and it still seems kind of affordable-ish). I also looked at Ealing and Acton, but I think those are out of my price range. I know this is a tricky question, as lots of variables, but grateful for any advice.

Ah, just saw that @Alabasterbox and @MsFogi beat me to it! 🤗

I've lived all over London. I currently have a small but very nice 2 bed in zone 1 - bottom of Bermondsey Street which I bought for £650k 2 years ago. Walking distance to the Shard/tower bridge. I'm The thinking of selling due to having a baby and the estate agent said it won't have increased much (still under £700k). Bermondsey area is generally affordable and so central and lots of small modern houses. Also Canada Water area has loads of nice affordable houses with parks nearby and good transport link with the jubilee line.

Walworth and Kennington also have houses in that budget but I don't think the areas are as nice. I go to Walworth market but I wouldn't want to live there as it's a bit dodge.

I know Streatham and I think it can be nice but the transport links can be frustrating as it's on a train line which often has issues/doesn't run.

Could I ask for your thoughts on this place? I’ve been to view it once and really like it, but want to try and make sure I’m rational. I’m due to have a second viewing in a few days. Thanks!

I've just moved out of Streatham Vale ( where the house is that you're looking at). Was there for 15 years. Should state I'm a born and bred Londoner and have lived North South and West in my time.

We bought when Streatham Vale was rapidly gentrifying but it's plateaued and then massively tanked in recent years. The amount of buy to let properties in the Vale has sky rocketed as Croydon and Merton have both changed their HMO policies meaning that licenses/ planning is required now in both boroughs. The knock on effect has seen all the affordable housing in the Vale ( mostly 3 bed terraces) being bought by developers and turned into HMOs. We ended up with one on either side of us. Small houses meant for families turned into 6 bedsits. We had 16 people at one point between the two houses keeping different hours,

Now I know people have to live somewhere and I hated the NIMBY it turned me into - but the noise, the rubbish, -because there were never enough bins the rubbish would end up all over the road due to the foxes- We then got rats because of the rubbish, and true to South London, the overwhelming stink of skunk which was constant.

Previously nice family houses that had been cared for now with broken windows patched with cardboard and duvet covers hung up instead of curtains. Constant piles of crap in the front gardens that just sat there because no-one would pay for a bulky waste collection. Fly tipping around the vale is pretty much constant, by the way.

It broke my heart to leave our house because I love Streatham but it's not the area it once was. I felt safe enough while I was there but the stretch around the station is not particularly lovely and Aberfoyle Rd in particular has a halfway house on it with a constant turnover of quite troubled people. The Homebase opposite is closing this year and development starting on a controversial block of flats that will leave the station junction completely overwhelmed. GPs and dentists are hugely oversubscribed.

If I had your budget and wanted to live in Streatham I would head up more towards Streatham Hill, Tooting borders or the roads between the High Road and The Rookery.

DM me if you want any more info.

Ham, TW10. Quick cycle into Richmond, then District line to Victoria.

Bloody hell - LOCATION please?!!😁

What?

North London option, zone 3, could be around Bounds Green tube on the Picadilly Line. Quiet and good community feel.

https://www.rightmove.co.uk/properties/143336033#/?channel=RES_BUY

https://www.rightmove.co.uk/properties/143121770#/?channel=RES_BUY

I didn't know any of this! We live on the Streatham Hill / Tulse Hill border - sounds like there's a big difference between the Vale and Hill areas.

Anywhere not near an Underground line will have much less evening and Sunday public transport than one which has one. So that will rule out much of south London.

What about this one?

https://www.rightmove.co.uk/properties/86687058#/?channel=RES_BUY

It's in a nicer bit of Streatham - as others have said, the Vale bit is less nice than towards Streatham Hill

I’d go for this: https://www.rightmove.co.uk/properties/140867795#/?channel=RES_BUY

Crystal Palace for an urban village feel, Norwood Junction for the rail connections, and right on the park. Very close to where I used to live before we left London and around the corner from where one of my best friends still lives.

SE12...you can easily buy a house there for 650k or less

With terraced housing your issue is your neighbours not wether it’s mid or end. I’ve lived in a mid terraced house for 30 years with the same neighbours both sides for most of that time. We’ve never had an issue. My sister lived in an end terraced with noisy neighbours (shouting and music til stupid o’clock). She ended up quite depressed because of it.
The house to our right has just been sold and I’m really anxious about who will move in and wether or not they’ll ruin our peace and quiet!

I think you need to get onto RightMove, type in your budget, select "House" under property type and away you go. You absolutely can find something that will work. I did a similar exercise for friend recently and we ended up with good options in Brockley (the west side of the station, historically cheaper) and Forest Hill.

Highams Park?
https://www.rightmove.co.uk/properties/143367035#/?channel=RES_BUY

north chingford
https://www.rightmove.co.uk/properties/141823916#/?channel=RES_BUY

nice areas close to Epping forest and easy commute to Victoria.

It’s so interesting that Balham used to be dodgy - now it’s unaffordable! I imagine most of Streatham will go that way soon

a lot of London was Walthamstow, the harringey ladder, Crystal Palace, Clapham and Brixton were all awful 30 years ago.

re: Streatham will go that way soon…

My friend said the exact same thing when we were both buying our first flats as she was priced out of Balham… that was 12 years ago!!!!

I told her she was nuts at the time.

I doubled my money in 5 years in Crystal Palace and moved to a nice north london surburb. She’s still in the Streatham place is 40 hates it and looking to move out to Surrey.…

I agree with posters who said Forest Hill / Sydenham / Crystal Palace.

they are nice/safe enough areas, good sized housing stock, nice restaurants and amenities. Strong transport links. You get a seat and it’s less than 30 mins into London Bridge or Victoria.
Bromley or beckenham shortlands are good shouts too.
basically follow train routes out and head towards south east

Streatham is my specialist subject! I don't know anyone who hasn't made a huge amount of money on selling a property in the Streatham Hill area at least. Our 2 bedroomed flat which we bought for under £70 k sold recently (alas we had already sold it on!) for 8 times the price.

@Motnight

Yes, it's a real shame that the Vale has got a bit crappy. The developers are buying up all the slightly dated terraced 3 bed stock that's around the £500k mark and turning them into HMOs because the laws have changed for landlords around splitting houses into, say, 2 flats (which is fine) and opened the gates wide on HMO development instead ( it all comes under permitted development so it's totally unregulated).

OP you could also look at Beckenham for some lovely parks, also Eltham if you want quiet and access to say Oxleas Wood, Avery Hill Park and Blackheath. It's very green round that part of SE London and trains go in to Charing Cross, Victoria, cannon st, Waterloo east and London Bridge

If I had my time again I would have pushed harder for Crystal Palace when DH and I were househunting 15 years ago!

I think you mean SE London. SW London is well-served by the tube - District Line from Wimbledon through Putney and Fulham, and Northern Line from Morden all the way up to the South Bank and beyond.

Penge & Beckenham have good transport links to Victoria, some good housing stock lots of green spaces plenty of facilities, also some excellent restaurants cafe & coffee shops.

@GreatGateauxsby I bought a small house in London Bridge for £650k 2 years ago! You don't need to go as far out as people think. It's semi detached and really quiet too

Come to Whyteleafe / Caterham. Direct train to london in 30 mins

I always think West Norwood is a bit of a sweet spot. Still ‘cheap’ and really nice