Zone 2 starts at the congestion charge boundary and embraces 126 Tube stations, stretching to Acton in the west, Archway in the north, Poplar in the east and Brixton in the south.
IMAGE GALLERY: SEARCH FOR THE LATEST NEW HOMES TO BUY IN ZONE 2
The best properties in Zone 2
The best properties in Zone 2
1/15 St Agnes Place
From £1.3 million: a 43-home scheme opposite Kennington Park has period-style four-storey townhouses. Flats,
some shared-ownership, will be launched later this year. Call 0844 406 9000.
2/15 The Rex
The Rex is a sensitive redevelopment of the classic Art Deco former cinema in Bethnal Green Road with 21 flats. Call 020 8874 1565.
3/15 The City Mills
From £795,000: three-bedroom apartments at The City Mills in E2 (scroll right...)
4/15 The City Mills
From £795,000: many of the flats at The City Mills feature winter gardens offering impressive views. Call 0844
5/15 The Mission
From £1 million: The Mission is a redevelopment of an Anglican church in Hackney Wick (scroll right...)
6/15 The Mission
From £1 million: there are 25 new homes, including a spectacular triplex apartment in the listed tower (scroll right...)
7/15 The Mission
From £1 million: Hackney Wick is becoming an exciting area to live and work with converted warehouses, modern developments and narrowboats. Call 020 7613 4044.
8/15 Four Hundred Caledonian Road
From £635,000: two-bedroom flats at Four Hundred Caledonian Road, an imaginative redevelopment of a factory workshop and stable block into a courtyard scheme...(scroll right)
9/15 Four Hundred Caledonian Road
From £635,000: the development features 23 low-energy homes plus office studios and is the first in London to receive a prestigious Building for Life rating. Call 020 7226 6611.
10/15 XY Apartments
A collection of 273 sleek, Scandi-style homes on the former Maiden Lane estate in NW1 (scroll right...)
11/15 XY Apartments
Flats at XY are situated between King's Cross and Camden stations, just a stone's throw from two of London's most vibrant urban centres (scroll right...)
12/15 XY Apartments
XY apartments are smart, beautifully crafted modern living spaces, with expansive balconies and huge windows revealing breath-taking views across the city. Call 020 7299 3091.
13/15 The Park Collection
From £365,000: the latest phase of homes at Woodberry Down, a new 64-acre housing estate being rebuilt and regenerated alongside Finsbury Park’s giant reservoirs (scroll right...)
14/15 The Park Collection
From £365,000: homes at The Park Collection offer a surprising waterfront setting in a urban area with a nature reserve and landscaping. Call 020 8985 9918.
15/15 Kennington West Square
With an average property price of £500,285, Kennington, in Zone 2, is close to the river in Lambeth and offers beautiful garden squares. West Square and the enclave behind the Imperial War Museum is one such example.
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While a Zone 1 home typically costs £1.5 million, Zone 2 homes are priced at £723,000 on average. But many Zone 2 areas have average prices that are much lower — between £300,000 and £400,000.
“Some areas are significantly under-valued given the quick commute to the centre — they are an easy commute with a lot of price growth,” says Jennet Siebrits, head of residential research at property consultant CBRE.
VIEW OUR INTERACTIVE MAP: THE ESSENTIAL HOMEBUYERS' GUIDE TO LONDON'S ZONE 2 DISTRICTS
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Click on a station to get the average property price and rent for the local area plus the journey time to the West End (Oxford Circus) and City (Liverpool Street).
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Best for transport: New cross
New Cross in south-east London is the cheapest Zone 2 address, with an average price of £317,000. This is despite the area’s excellent rail connections — it takes six minutes to London Bridge, an Overground service, plus one stop to the Jubilee line interchange at Canada Water.
Once a Victorian village at the end of the tram line out of central London, the legacy of period architecture remains. There is a fire station, a town hall, landmark pubs and the splendid home of Hatcham Liberal Club, which has now been converted into flats.
Goldsmiths College, where Damien Hirst studied fine art, provides a student scene, while the cosmopolitan mix is wider than ever. Young singles and couples are moving in and families are putting down roots. New Cross has swathes of affordable Victorian housing, including Telegraph Hill conservation area, perched at the top of a slope with wide tree-lined roads, great views, two parks and Haberdashers’ Aske’s Boys’ School, one of the most over-subscribed in London.
New Cross resident Louise Eversley, a tax specialist working in the City, says the area has taken a long time to change and has reached the stage where people want to live there, rather than needing to because it is cheap.
“It’s still scruffy, but it is smarten- ing up and attracting cross-river movers from the north bank,” she adds. Spark, in New Cross Road, has flats priced from £290,000, with shared-ownership options available. Call Hyde New Homes on 0845 606 1221.
Not all good-value Zone 2 areas are quite as gritty. Some, such as Kennington — close to the river in Lambeth and where the average property price is £500,285 — have garden squares. Check out West Square and the enclave behind the Imperial War Museum.
St Agnes Place is a new addition to the area’s compact network of Georgian and Victorian terraces. The 43-home scheme opposite Kennington Park has period-style four-storey townhouses priced from £1.3 million. Flats, some shared-ownership, will be launched later this year. Call L&Q on 0844 406 9000.
Best for value: Bethnal Green, Hackney Wick, Whitechapel, Stepney Green and Mile End
Bethnal Green tops CBRE’s list of best value-for-money areas. At £430,000, prices are 40 per cent cheaper than the Zone 2 average, while travelling time to the main employment centres is just eight minutes. Coming soon is The Rex, a sensitive redevelopment of the classic Art Deco former cinema in Bethnal Green Road that was one of the first in the UK to show talking pictures.
The conversion into 21 flats is the creation of Maxwell Hutchinson, a former Royal Institute of British Architects president. To register, call 020 8874 1565.
Three-bedroom apartments with winter gardens offering impressive views are for sale at The City Mills in E2. Prices from £795,000. Call 0844 4069289.
Whitechapel, Stepney Green and Mile End
A similar case can be made for Whitechapel, Stepney Green and Mile End, which are up to 55 per cent cheaper than the Zone 2 average. Camden Town, about the same commute time, is twice the price.
Hackney Wick is another rising star. The area butts up against Stratford’s sporting and leisure amenities and is also close to gentrified Victoria Park.
The redevelopment of an Anglican church, The Mission has brought 25 new homes, including a spectacular triplex apartment in the listed tower. Offers of more than £1 million. Call Fyfe Mcdade for more information on 020 7613 4044.
Best for potential: Holloway, Caledonian Road, Finsbury Park
Good-value pockets of north London include Holloway, Caledonian Road and Finsbury Park, where prices are up to 25 per cent lower than the Zone 2 average.
Four Hundred Caledonian Road is an imaginative redevelopment of a factory workshop and stable block into a courtyard scheme of 23 low-energy homes plus office studios. The project is the first in London to receive a prestigious Building for Life rating, a government-backed assessment that seeks to improve the quality of homes and amenities at new developments. Two-bedroom flats are priced from £635,000. Call Currell on 020 7226 6611.
Also check out XY Apartments, a collection of 273 sleek, Scandi-style homes on the former Maiden Lane estate. Call 020 7299 3091.
The Park Collection is the latest phase of homes at Woodberry Down, a new 64-acre housing estate being rebuilt and regenerated alongside Finsbury Park’s giant reservoirs. It is a surprising waterfront setting for such an urban area — postcode N4 — with a nature reserve and landscaping. Prices start at £365,000. Call Berkeley Homes on 020 8985 9918.
What all these evolving areas have in common is the potential to benefit even more from the inexorable movement of people, businesses, development and infrastructure projects rippling out from central London.