Where to buy in London in 2018: three property hotspots for first-time buyers, from Surbiton to Sydenham and Gidea Park

For those looking to step on to the property ladder during 2018, there are still good-value suburbs for first-time buyers in London - if you know where to look.

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Ruth Bloomfield10 January 2018

The prospects for first-time buyers are looking better than they have in years, thanks to new help for those keen to jump aboard the ladder.

The recent abolition of stamp duty for property up to £300,000 represents a valuable reduction in entry costs for buyers already struggling to raise huge deposits.

Meanwhile, the number of housebuilders getting into the Help to Buy London scheme – which allows first-time buyers to pick up a new flat with only a five per cent deposit – continues to grow.

Clearly these moves certainly won’t solve London’s housing crisis. The gulf between wages and house prices remains huge. But for those who are in the fortunate position of being able to buy in 2018 there are still pockets of cost-effective housing in the capital.

1. GIDEA PARK
It’s not too late to get in on the Crossrail action, according to Paul Money, branch manager of Beresfords.

He believes the leafy Thirties suburb of Gidea Park, on the Essex borders, is a great place for first-time buyers, who could pick up a three-bedroom semi for about £400,000, or a two-up two-down cottage for £325,000-£350,000.

Two-bedroom flats cost between £280,000 and £320,000, and one-bedroom flats start from about £220,000 to £250,000.

Affordable it may be but Gidea Park will be too suburban for some. Its high street has suffered from proximity to three massive shopping malls - Westfield Stratford City, Lakeside and Bluewater - while nightlife is confined to some good old-school pubs.

On the other hand it is delightfully leafy, with a golf club and Raphael Park, and has a safe, affluent sort of vibe.

2. SYDENHAM
South-east London has become a mecca for first-time buyers over the last five years, catapulting areas including Hither Green and Crystal Palace from anonymity to desirability.

Rory Cramer, head of consultancy at Marsh & Parsons New Homes, believes the next area to surge will be Sydenham, where the average price of a flat currently stands at £366,000.

“It’s a true gem of an area and often overlooked,” he says. “With trains into London Bridge in 16 minutes, large green open spaces and independent coffee shops and restaurants, it’s no surprise that prices have increased 16 per cent on the same time last year, making it a great investment opportunity.”

Expect to pay about £400,000 for a period conversion, or if you want new build, Cramer recommends the Dylon Works development where you could use Help to Buy London to pick up a one-bedroom flat for about £379,000.

A speedy commute: although in Zone 6, journeys from Surbiton to central London are faster than from much of Zone 2

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3. SURBITON
Though famed as the suburban setting of Seventies TV sitcom The Good Life, Surbiton shouldn’t be discounted as too boring. True, it’s in Zone 6, but it is a ridiculously quick commute. Mainline services take from 19 minutes to reach Waterloo, which makes it faster to central London than living in most of Zone 2.

Property ranges from grand Victorian villas and conversion flats to Art Deco apartment buildings and 20th-century semis. Surbiton’s main shopping street is Victoria Road, which has a comprehensive if not particularly exciting range of supermarkets, shops and chain restaurants.

More exciting is Maple Road, where independent restaurants and cafes are opening up: this is becoming the go-to spot for buyers heading out of more central areas.

“The stylish Maple Road area is highly desirable for thirtysomething professional couples - a slightly younger demographic than Kingston, which is much more family orientated,” says Edward Gray, managing director of Cocoon estate and letting agents. “It has a range of high-end restaurants, eateries, bars and quality pubs, all within a short walk of the Thames towpath, including the very popular No97, a restaurant and gin bar.”

First-time buyers could get a flat in this popular area from about £450,000 or a Victorian terrace from about £600,000. For buyers on a tighter budget, a two-bedroom flat in a Sixties building would start at about £375,000.

Gray particularly tips Surbiton for future potential. If the proposed Crossrail 2 project goes ahead prices could soar - although buyers will need patience to benefit since the line won’t be operational until the 2030s.