Streatham’s shared-ownership homes: Zone 3 flats – and three bedroom houses – for first-time buyers from £134k

For all its fine period housing, excellent commuter links and acres of green space, Streatham has resisted the kind of gentrification that has transformed neighbouring Balham and Crystal Palace - until now.

Finally, this suburb’s going glossy, with its first high-end development, a busy calendar of foodie festivals and a new flurry of cafés and gastropubs.

First-time buyers who believe themselves priced out of south London can share in Streatham’s rebirth at Maple Court, new flats and family houses by Notting Hill Housing. Just off Leigham Court Road, these homes are handy for Streatham Common and less than a mile from Streatham Hill station in Zone 3, with trains to Victoria from 17 minutes. An annual season ticket costs £1,520.

GASTROPUBS AND CAFÉS

“Historically, Streatham was very grand but more recently, and for a long period, it has had a so-so reputation,” admits Robert Brooks, director of Brooks estate agents.

“Having what is basically a dual carriageway running through its centre has been its downfall… We started here six years ago and there was only one place you might go for a drink in the evening. Now there are seven or eight really nice gastropubs, lots of cafés, a lot of independent shops and four or five big new developments.”

The largest of these developments is Streatham Hill by London Square, where one-bedroom flats are £425,000 and two-bedroom homes from £560,000. The development is not only the plushest in Streatham’s history but will bring a Marks & Spencer to the area.

While first-time buyers are unlikely to afford Streatham Hill, Maple Court is priced to appeal. Its one-bedroom flats have a full price of £335,000, and a 40 per cent share is £134,000, requiring a deposit of £13,400. Monthly mortgage costs will be about £704, and owners must find £461 rent for the section of the property they don’t own, plus a monthly service charge of £135.

Forty per cent of a two-bedroom flat is £181,000. This means finding an £18,100 deposit, and paying £951 a month mortgage, plus rent at £622 and service charge at £177.

Three-bedroom houses — a great rarity in the shared-ownership sector — are £180,000 for a 30 per cent share. Costs include a deposit of £18,000, a mortgage of £946 a month, plus rent at £963, and service charge at £34.

The great plus point of living in Streatham is the common, with 66 green acres including running circuits, a formal garden and a café.

COMMUNITY VIBE

Streatham’s eating out scene is still heavy on the cheap takeaways, but it is improving. Bar 61 is a great little tapas place in Streatham Hill, and the Wholemeal Café’s big-portion veggie and vegan menu is a local institution.

The many local pubs include the Earl Ferrers, ideal for a beer, a burger and a game of pool; The Railway, just by Streatham Common station, offering live music and comedy, and Pratts and Payne — named after Streatham’s long-defunct Pratts department store and the late brothel keeper Cynthia Payne — with a garden for summer barbecues, and Sunday roasts for chillier weekends.

There’s a good community feel with regular events such as the arty Streatham Festival, Streatham Food Festival, and an annual kite-flying day on the common. There is an eight-screen cinema, regular farmers’ markets and a newly refurbished ice rink and leisure centre. For nights out, Brixton is just down the road.

With the promise of a Crossrail 2 station at Tooting, a 15-minute bus ride from Maple Court, look beyond congested, shabby, noisy, polluted Streatham High Road and the future looks bright for this neighbourhood.