For example, the average price in Morden, at the southern end of the Northern line, is £368,726, while in South Wimbledon, one stop earlier and on the Zone 3/4 cusp, it is £641,164.
Zone 4 sits between the inner city and the suburbs, a ring marked by Greenford in the west, Mill Hill in the north, Upney in the east and Morden in the south. Ten of the cheapest areas around Zone 4 stations have average prices less than £301,000.
IMAGE GALLERY: SEARCH FOR NEW HOMES IN ZONE 4
Image gallery: new-build homes in London's Zone 4
Image gallery: new-build homes in London's Zone 4
From £299,250: modern flats at 243 Ealing Road, in north-west London, have balconies, terraces or patios, set in landscaped gardens next to the canal. The Piccadilly line station is a 200-metre walk from the development. Call 020 8997 3373
2/14 Palmers Green
From £387,952: Truro Place is a redevelopment of a listed 19th-century mansion that had been on English Heritage’s Buildings-at-Risk register (scroll right...)
3/14 Palmers Green
From £387,952: the house and its prized classical French-influenced interior has been restored, along with a coach house (scroll right...)
4/14 Palmers Green
From £387,952: Truro Place also has 25 new homes being built in the 2.5-acre ground (scroll right...)
5/14 Palmers Green
From £387,952: the gated development in Palmers Green is a short walk from Broomfield Park, Grovelands Park and Alexandra Palace. Call 0800 0121222.
From £339,950: Beaufort Park, close to Colindale Tube station, has been built on the site of a former RAF aerodrome (scroll right...)
From £339,950: set in 25 acres, Beaufort Park has a pub, café, convenience store, nursery, spa and a gym (scroll right...)
From £339,950: flats at Beaufort Park are affordably priced in a location with fast transport links to central London and a quick exit out of the city. Call 0208 511 8600
From £569,000: Wickham House is a conversion of a former publishing premises and has a striking new mural in the entrance foyer depicting printing presses (scroll right...)
From £569,000: Wickham House has eight one- to two-bedroom flats in the heart of the town centre, near Richmond Green (scroll right...)
From £569,000: Wickham House is ideally located for quick commutes to the City and West End with both Richmond mainline and Tube station close by. Call 020 8940 1575
12/14 Mill Hill
From £875,000: The Village Green is a scheme of eight Arts & Crafts-style houses, ranging from a charming two-bedroom lodge to an imposing six-bedroom home. Call 020 8731 9500
From £366,000: Emerald Gardens is a development surrounded by one acre of gardens in Wembley, which is in Zone 4 but has Zone 2 connections (scroll right...)
From £366,000: apartment blocks at Emerald Gardens are being built in clusters overlooking courtyards and squares. Call 020 3151 8601
VIEW OUR INTERACTIVE MAP: THE ESSENTIAL HOMEBUYERS' GUIDE TO LONDON'S ZONE 4 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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“Some areas are significantly under-valued given the relatively quick commute times to the centre — they’re easy to get to work from and have potential for price growth,” says Jennet Siebrits, head of residential research at property consultant CBRE.
However, you have to choose carefully. Some Zone 4 areas have already become pricey thanks to their speedy commuting times. Bounds Green, Wanstead and South Woodford, with 25-minute journey times, have prices averaging £440,000 to £450,000.
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Some people may dismiss Zone 4 as a chunk of unpleasant urban sprawl, but Richmond, at the southern end of the District line, proves the contrary. Surrounded by an enormous 2,500 acres of oak forest deer park, river walks and great views from its Hill, a prospect protected by an Act of Parliament, the area is perfect for commuting families.
Most new homes in the protected town centre are as a result of regeneration. Wickham House is a conversion of former publishing premises and has a striking new mural in the entrance foyer depicting printing presses.
Prices start at £569,000 — above the average for Zone 4, but still lower than homes near the closest Zone 3 station. Call Featherstone Leigh on 020 8940 1575.
Nearby Isleworth is a cheaper option. Capital House, an office-to-residential conversion, has yielded seven apartments priced from £295,000. Call 020 8847 0488.
WATCH: Discover the Top 10 Zone 4 tube stops for homebuyers
The newly integrated Overground network — an amalgam of lines connecting areas outside central London, allowing passengers to travel from any area of the capital to another without changing trains — is also boosting Zone 4 districts.
Prices along the Northern line are worth studying, too, because this route uniquely links cheaper locations both north and south of the river with the main employment centres of the West End and City without the need to change trains.
East London, fuelled by a property boom rippling through Shoreditch and Docklands, continues as a growth area. Demand for homes in East Ham, one of the three “best value” Zone 4 commuting areas, has jumped by 26 per cent since the start of the year. The average house price is £248,407.
Wembley is a Zone 4 area with Zone 2 transport connections — you can get to Baker Street in 13 minutes, according to Paul Hogarth of developer Quintain, which is building a 5,000-home neighbourhood wrapping around the famous football stadium. A new open-air shopping mall has raised the bar and offers well-known names, chain eateries and a multiplex cinema.
Apartment blocks are being built in clusters overlooking courtyards and squares. Prices at Emerald Gardens, the latest phase, start from £366,000. Call 020 3151 8601.
Elisabetta Barone, a lecturer at Brunel Business School, was one of the first people to buy at the development.
“I’d seen regeneration have a huge impact on other parts of London and was confident the same would happen in Wembley. The public transport links are good and it’s just £20 in a taxi to Heathrow,” she says.
Barone also has a home in Milan. After the birth of her daughter, she decided to let her one-bedroom flat at Wembley and buy a bigger apartment at the development. On-site Brent Library is another attraction.
“They have a children’s area and playgroups during the week and at weekends,” adds Barone.
Uncovering hidden gems
Unsung Alperton in north-west London has such a low profile that most of the capital’s citizens have not even heard of it. But the area is emerging from the shadows as developers hit upon its hidden assets — the Grand Union Canal and fast Tube links to the West End.
A B&Q superstore has made way for 441 homes as 243 Ealing Road, part of a Brent council master plan to transform the neighbourhood into a residential haven, with a new school and shops, health centre and business premises. Prices from £299,250. Call Network Living on 020 8997 3373. The Piccadilly line station is a 200-metre walk from the development.
Palmers Green and Southgate lie beyond the traffic-choked North Circular Road and have neat, untroubled streets of comfortable inter-war houses and a sprinkling of new developments. Both are places where people put down roots. Buyers aspire to it on the way up the ladder and downsizers on the way down.
Southgate’s Piccadilly line station is arguably the area’s most surprising landmark. A spirited Thirties design, the listed circular building looks like a spaceship heading for Mars rather than leading down to the Underground.
Palmers Green was a bastion of Edwardian respectability and is a good place to look for larger homes. Truro Place is a redevelopment of a listed 19th-century mansion that had been on Historic England’s — formerly English Heritage — Heritage At Risk register. The house and its prized classical French-influenced interior has been restored, along with a coach house, while 25 new homes are being built in the 2.5-acre grounds. Prices from £387,952 to £2.95 million. Call Comer Homes on 0800 0121222.
Tumbling down from the heights of Crystal Palace are the inner-suburbs of West Norwood and South Norwood. Ambitious plans in the early 19th-century to establish a Regency-style spa town around a mineral water spring in Beulah Hill never materialised, but the arrival of illustrious Crystal Palace, spectacularly destroyed by fire in 1936, gave the area an enormous boost, and led to the building of splendid Victorian villas, many now converted into flats.
The East London line extension to West Croydon has revitalised the area, yet homes around Norwood Junction are among the cheapest in the capital, with an average price of £247,556.
Two-bedroom flats at new scheme Beaumaris Gardens cost from £265,000, with shared-ownership options available. Call Hyde New Homes on 0845 6061221.