Property price guide: living close to London's commons - and the areas where you can still find a bargain

A new report reveals the price of homes near London's green open spaces. Sometimes there is a premium to pay, but there are also discounts of up to 30 per cent to be found...

Homes in the grid of streets between Clapham and Wandsworth Commons are so sought after that “between the commons” has become a microsuburb in its own right, with a boutique-laden high street — Northcote Road — and local residents who include celebrity chef Gordon Ramsay and his cookery writer wife Tana, actor Jack Davenport and comedian Jack Dee.

A new study has established the cost of living within an easy hop of the wide open spaces of some of London’s best known commons, as well as some more discreet gems. The exclusive report by Savills compares house sale prices close to eight key London commons with prices in their surrounding areas.

IMAGE GALLERY: THE COMMONS YOU PAY A PREMIUM TO LIVE BY, AND THE ONES THAT COME WITH BARGAIN HOMES NEARBY



Top-dollar commons: Clapham
The most expensive common in the survey is Clapham. Buyers wanting to live within 100 yards of its perimeter must pay an extra 20 per cent — or well over £100,000 — for the privilege. Homes close to Ealing Common also command a premium, as do homes close to lesser-known Well Street Common in Hackney.

Premium: 21.4 per cent 
Average price: £666,451 
Average borough price: £548,800 


Barnes is a family affair
Living beside Barnes Common tends to be a family affair because most of the properties are sprawling Victorian semis and terraces with five or six bedrooms, measuring around 3,000sq ft and priced from about £2.5 million. 

Trains from Barnes to Waterloo take about 20 minutes, making it an ideal commuter location, with an annual season ticket costing £1,472. Barnes Primary School is rated “outstanding” by Ofsted. Throw in some lovely shops, restaurants, cafés and bars and it is easy to see why this area commands such a hefty premium.

Premium: 13.7 per cent
Average price: £766,302
Average borough price: £673,795 




620-barnes.jpg
£535,000: the two-bedroom penthouse within this Grade II-listed mansion has two bathrooms, secure parking and spectacular communal grounds within Norwood Grove Park

Good-value Streatham
For those on a tighter budget, the average property around Streatham Common costs just over £340,000.

This is almost a third cheaper than the average for Lambeth, where areas from the South Bank to Clapham and Brixton have inflated prices borough-wide. Trains from Streatham Common to Victoria take less than 20 minutes and an annual season ticket costs £1,472. But Streatham’s competitive prices may not last forever,  because buyers are starting to learn of its quality housing stock and good transport links.

Discount: 29.4 per cent 
Average price: £340,194
Borough average: £481,697

“I wouldn’t have dreamt of recommending buyers look in Streatham until about two months ago, when it suddenly came into its own as a bit of a hotspot,” says Samantha Anderson, of Heaton and Partners buying agency. “But I have agreed a sale of a two-bedroom flat for under £400,000 in Streatham, and at the same time agreed a small one-bedroom flat in Battersea at £430,000. Now is the time to buy in Streatham before it gets too popular with the yummy-mummy crowd.”




Plumstead for real bargains
London’s biggest common-side bargains are to be found around Plumstead Common, in south-east London, where average prices are just £235,164, more than 30 per cent less than the borough average of £337,197.

The common is ringed with streets of Victorian terraces and Mark Sallnow, manager of David Evans & Co, estimates that a four-bedroom house would cost between £350,000 and £380,000, while a two-bedroom flat would typically cost £200,000 to £225,000.

The reason this area is relatively inexpensive is that it lacks transport links on the doorstep. Commuters hop on a bus for the 10-minute journey to Woolwich Arsenal, where they pick up the Docklands Light Railway or mainline services to Cannon Street and Charing Cross.

Discount: 30.3 per cent
Average price: £235,164 
Average borough price: £337,197



 


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