Portico London estate agents have identified 10 first-time buyer hotspots and listed some perfect first homes. Prices in some of the most popular areas fall below £250,000 – so if you’re interested in a property, give them a call today on 0207 099 4000.
Walthamstow is a vibrant and buzzing postcode that is rapidly redeveloping. Trendy cafes and independent shops are popping up all over the place, and first-time buyers are flocking to this part of Zone 3 conveniently located at the end of the Victoria line.
Property here is excellent value, with the average flat costing around £300,000.
The fictional home of Del Boy and Rodney Trotter is now a hipster paradise, with roof-top bars on top of multi-storey car parks, anti-chain restaurants and affordable property.
The average price for a 1 bedroom property stands at a reasonable £350,000 – though you could secure an ex-council home for around the £250k mark.
3. Finsbury Park
With property prices in London at an all-time high, we’re seeing a lot of first-time buyers turn away from the more expensive enclaves of London – like central Islington – in favour of cheaper yet well-connected postcodes like Finsbury Park. It’s just a couple of stops from King’s Cross, so ideal for commuters too.
In fact, there are a lot of good-value pockets of north London that are attracting first-time buyers – Holloway, Caledonian Road and Stoke Newington are all popular hotspots.
Average house prices in the Battersea area are high compared with other parts of the capital. It’ll set you back around £485,000 for a 1 bedroom property – but that doesn’t stop Wandsworth in Battersea being an extremely desirable place to call home.
The average age of a first time buyer in London is edging toward 40, and that fits the demographic of Nappy Valley to a T – young professionals in their thirties looking for 2 bedroom properties, great schools, a middle class feel, open space and fantastic amenities.
5. Bethnal Green
Buyers in great numbers are heading to Bethnal Green, in search of warehouse conversions, quirky property and a young, trendy vibe. This east London area is also popular with investors and landlords, as rental yields are high (around 5.3% near Bethnal Green station), and demand from tenants is strong.
6. Acton / Ealing
Crossrail will soon be launching in Acton, making it an excellent choice for young first-time buyers who are working in the City or West End.
As well as an imminent transport upgrade, W3 offers period property and a quaint village feel – ideal for those thinking of starting a family. We love the string of healthy brunch spots, bakeries and traditional pubs on lively Churchfield Road.
7. Stoke Newington
“Stokey”, as locals affectionately call it, has come on leaps and bounds in terms of regeneration in the last five years – with a large number of new apartments popping up to accommodate growing demand.
First time buyers are attracted by the Victorian property stock, the arty, creative vibe and the village feel. There’s a farmers’ market on the High Street on the weekend, and shops are brimming with indie labels and vintage goods.
If you’re looking for a fantastic investment, this rare period house – a short walk from Leyton Central Line Tube – will not disappoint.
Still revelling from the ‘Olympic effect’, we expect property prices in affordable Leyton to continue to rise this year, so this property could get a big boost from both cosmetic renovation and capital growth.
Crossrail has powered Tottenham’s popularity and regeneration, transforming the area into an up-and-coming hotspot.
And with journey times of just 15 minutes into central London, the area is slowly becoming a firm favourite with those looking for value and space for their money.
Ilford is one of the best-value areas in London, and though property prices have been rising since the announcement of Crossrail, the average price of a two bedroom property in the area is still an extremely reasonable £280,000.
Better still, buyers looking in this part of east London can jump straight into a house rather than buy a flat. A great investment hotspot.
Click here to view all our current available properties! Or give us a call on 0207 099 4000 if you’d like us to help you with your search.