Buying a home in London's Zone 3: Tottenham Hale and Stratford top new list of 20 best-value areas

London's travel Zone 3 is now the top choice of young home hunters. And now, a new report combines average house prices and commuting times to reveal the top 20 best-value areas to buy a property.
Zone 3 has the fastest growing population of all the capital’s transport zones and it’s not hard to see why, with young buyers attracted by its easy commutes to central London and better-value homes. The average property price is £488,000, compared with £1.5 million in Zone 1 and £723,000 in Zone 2. 



The zone is an inner ring marked by Acton and Ealing in the west, Leyton and Beckton in the east, Hornsey and Tottenham in the north, and Tooting and Streatham in the south. Served by more than 90 Tube stations, 20 of the cheapest Zone 3 addresses have average prices below £325,000.

The most searched-for price bracket for young Londoners in this area is between £250,000 and £500,000.

IMAGE GALLERY: THE 20 BEST-VALUE AREAS BY PRICE AND COMMUTE TIME TO CENTRAL LONDON
 
 
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Top scorer: Tottenham
For a quick commute and low prices, Tottenham is the best-value Zone 3 address, says Jennet Siebrits, head of residential research at property consultant CBRE.

The area’s rough reputation and  association with riots puts people  off, but it is one of 10 new Greater London Authority housing zones, an  initiative aimed at accelerating  development. More than 800 homes have already been built at 12-acre Hale Village, popular with key  workers and young professionals, including junior doctors and nurses. Visit halevillagelondon.com or call  020 8808 4070.

Tottenham Hotspur FC’s new stadium project will bring flats,  shops, a technical college and primary school, while Lawrence Square, close to Seven Sisters Tube station, replaces an industrial estate and has 260 homes. Houses cost from £634,995. Call Bellway on 0845 676 0261.


 
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Smithfield Square: in Hornsey, a derelict refuse depot and swimming pool are giving way to a landscaped 440-home scheme with prices from £370,000

Hornsey is another north London address to watch. The old London  borough was swallowed up in 1965  by the newly created Haringey council. The area sits at the foot of splendid Alexandra Park and its high street is becoming smarter.

New River Village, built on the site of an old waterworks, retains the Victorian pumping station and has more than 600 low-rise apartments running alongside a quarter-mile stretch of a canal that brings fresh water to London.

A former derelict high street refusedepot and swimming pool are being transformed into the 440-home Smithfield Square. Prices at the development start at £370,000. To register for the next phase, contact St James on 020 3002 9460.

Spot the difference 
Elsewhere, in north London, Zone 3’s Golders Green is much cheaper than Hampstead and Belsize Park. This traditional family area, with quick Northern line links to Soho and the City, is being discovered by young singles and couples, according to estate agent Greene & Co. The Cascades, with 18 apartments priced from £795,000, is the latest arrival. Call 020 7604 3200.

The much anticipated arrival of Crossrail is already transforming areas of Zone 3 previously dismissed as dull or uninspiring.

Walthamstow’s high street and Lewisham’s town centre have had facelifts, Beckton has created new parks, developments have sprung up along Greenwich’s waterfront and there are new shopping and business hubs at Stratford.
 
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From £795,000: flats in The Cascades, Golders Green, are near good transport links. Call 020 7604 3200

Homes are being built along developing transport links at Brent Cross Cricklewood. The new north London town centre will have 7,500 homes, new buildings for three local schools, and a new Thameslink station, offering a 12-minute commute to central London.

Woolwich will have a Zone 3 station when Crossrail opens in 2018, boosting what has been considered a south-east London outpost — it is currently only served by Woolwich Arsenal station, which is in Zone 4.



New waterfront apartments next to the Crossrail station at Royal Arsenal, a former munitions factory with listed buildings, have been launched. Prices start at £367,500. Call 020 8331 7130.

East is cheapest 
East London has the cheapest Zone 3 locations. Homes close to Beckton Park and King George V stations in the Royal Docks cost less than £250,000, about half the Zone 3 average. This swathe of London is raw, but the focus of massive regeneration. If you can cope with the cranes, the investment looks good.
 
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London Regatta Centre, in Dockside Road near Beckton Park, is in an area with some of Zone 3's cheapest homes, at less than £250,000


Plaistow, Upton Park, East Ham and Leyton have 17-22 minute commute times and are undervalued when compared with Manor House and Archway in the north, which are almost twice the price. Leyton, where an average home costs £348,128, has no impressive skyscrapers or ritzy shopping malls to match nearby Stratford, but it is sharing the legacy benefits of the 2012 Olympics, with shabby shopfronts being refurbished and revitalised.

The A12 roars through the area, but Leyton has the Lee Valley for a back garden and also borders Hackney Marshes and Wanstead Flats, among the largest areas of open land in London. Homes are not always beautiful, but there are many Victorian and Edwardian terraces, with lots in the £400,000-£650,000 price bracket.


 
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From £389,995: new apartments and houses at The Exchange, in Leyton High Road. Call 020 8808 4070

The Exchange, in Leyton High Road, has a mix of new apartments and houses priced from £389,995. Call Bellway on 01689 886400.

The former town hall has been turned into a space for local businesses, while its great hall is an events venue. The area’s former technical institute, part of the building, houses a real ale pub and 32 homes are also being created within its walls. Call 020 8808 4070.

Helping hand in Kew
Kew in west London is hardly cheap. Close to the river and with the wide open spaces of Richmond Park to enjoy, it has an average price of £698,750 — but a special scheme for first-time buyers enabled Nathaniel Reilly-O’Donnell, 26, to get on to the property ladder at a fashionable new waterfront development.



As a 2016 Olympic rowing hopeful, Reilly-O’Donnell used a council-backed  “discount market sale” scheme to  buy a one-bedroom flat at St George: Kew Bridge.



The scheme helps first-time buyers  unable to put down a big deposit.  Buyers pay 30 per cent less than the full market value and have full ownership of the property, but a deed of covenant gives the council the right to buy back the property if the buyer chooses to sell. An owner would receive 70 per cent of the prevailing open market value.

“I’ve rented in the area since I moved here as a student,” he says. “Being close to the river was a priority, but I nearly lost hope of buying. It’s an  amazing place to live, and only  100 metres from the train station.” Prices currently start at £704,950. Call 020 8995 6669.

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