Flat-hunting in Zone 4: the top 10 cheapest areas near Tube stations

Buyers are being pushed further from the capital's centre in the search for affordable homes. There are still pockets of good value to be found in Zone 4, where journey times to central London can take as little as 15 minutes.
Travel Zone 4 is the new budget frontier for home buyers. Staggering growth in the centre of the capital is pushing London's home buyers to broaden their search as Zone 2 prices now average £723,000, while in Zone 3, prices have reached £488,000.

There is still value to be found in Zone 4 - where prices average £421,000 - as 10 of the cheapest areas around its stations are priced under £301,000 and come with the added bonus of good transport links.

Located 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 - journey times to central London can take from as little as 15 minutes.

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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.

READ MORE: ZONE 4 AREAS STILL TIPPED FOR PRICE GROWTH

This includes London's cheapest borough, Barking, which sits to the east of the capital and is well-connected, with access to the District, Hammersmith and City line and London Overground services.

Commutes from Woolwich Arsenal in the south-east currently take the form of DLR services, but this area is set to become a Crossrail hotspot with direct and speedy services to Canary Wharf, the West End and Heathrow expected by 2018. It's an area in the throes of a revival, with 3,000 new and affordable homes set to transform the historic town.

Meanwhile, on the opposite side of London, the Bakerloo and London Overground services already take you directly from Wembley Central into Baker Street in under 25 minutes. Large new homes developments and town centre regeneration are turning this area into a first-time buyer hotspot.

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