Property hotspots: the best places to buy a home in south London this year
Urban renewal is a constant in London. Spurred on by a new transport link or a commercial or cultural project, an area begins its regeneration — and homes follow.
In south London, Tate Modern opened up Bankside. The carefully planned regeneration of Nine Elms and transport upgrades such as the new Overground network appeal to Londoners seeking “undervalued” property.
Bold buyers who gamble on new frontiers can reap big rewards. Here are the key areas to watch south of the river.
WALWORTH
Given the choice, most working people would opt to live in the centre of London, if only they could afford it.
Yet there are some fast-improving and still relatively affordable Zone 2 districts on the fringe of the main employment centres of the City, West End and Canary Wharf.
Check out Walworth, barely two miles from Trafalgar Square and the Bank of England.
For many years it has been an unloved district, even among estate agents, mainly because of its gritty council estates. But perceptions are changing as its streets smarten up.
Colourful and quirky East Street Market and splendid St Peter’s Church in Liverpool Grove, by distinguished 19th-century architect Sir John Soane, are among the area’s attractions, while behind the busy high street are period gems such as Sutherland Square and a Church Commissioners’ estate of charming terrace houses.
The Levers in Walworth Road is a new apartment scheme by housing charity Peabody. Prices from £440,000, with shared ownership available. Call 020 7021 4842.
Coming soon is a 262-home redevelopment of a council depot and listed public baths at Manor Place (visit nhillsales.com).
And bespoke houses in Browning Street have been designed by local resident and architect Alan Camp.
KENNINGTON AND THE NORTHERN LINE SPUR
Where railway lines go, home buyers traditionally follow. Currently, Crossrail and new Tube extensions are causing property ripples.
One live project is the Northern line spur from Kennington to Battersea, expected to open in 2020.
Eager developers are following the route of this short, two-station extension, which is putting fizz into the SE11 postcode.
Right next to one of the two new stations, at Vauxhall, Barratt is building 647 flats at Nine Elms Point.
Prices from £620,000. Call 020 7501 3777.
Barely a mile from Parliament, Kennington seems stuck in time while dramatic change takes place around it — and this is part of its allure.
The district’s Victorian terraces and hidden Georgian squares act as a block on big development projects.
Remarkably, the area has been gentrifying for decades without reaching the heights of fashionability, but the Northern line spur may change this as there will be a five-minute Tube ride to the sparkling new neighbourhood at Battersea Power Station.
Kennington also butts up against the Thames.
An ugly office block close to Lambeth Bridge has been bulldozed to make way for Palace View — 55 apartments priced from £880,000. Call Taylor Wimpey on 020 3866 0901.
STREATHAM
Good-value Streatham is regaining its post-war popularity following a high street face lift and the arrival of apartments that are enticing hipsters from Clapham and Brixton.
In its Fifties heyday, the area was a popular place to live and visit, with a department store, a Locarno ballroom, theatre, cinema and an ice rink. The very first Waitrose store opened here in 1955.
Decline set in during the Eighties, when discount retailers landed in Streatham and notable buildings languished empty, while the neighbourhood’s nightclubs became flashpoints for trouble.
These days, it’s a different picture. Coffee shops, delis and patisseries, new eateries and watering holes, jazz clubs and dance venues continue to sprout up along the bustling High Road, reputedly the longest in Europe.
A scheme of 214 flats close to Streatham Hill station, London Square Streatham Hill incorporates the listed Art Deco façade of the former cinema.
Many of the apartments have a large balcony or terrace overlooking an inner courtyard garden, plus there is a concierge, gym, cycle storage and underground parking.
Streatham Playhouse, a new theatre space, forms part of the scheme and there’s an on-site Marks & Spencer food store and café. Prices from £380,000. Call 0333 666 2131.
NINE ELMS
Second steppers Adelle Noor, 35, and Mike Beauchamp, 30, examined nine regeneration projects across London before settling for a new home at Nine Elms, Battersea.
The couple were in a comfortable financial position to purchase their £710,000 apartment, having pooled resources following the sale of their separate homes in Kent and Enfield.
Although the transformation of the former industrial zone surrounding Battersea Power Station is well into its stride, and property values have risen, the couple believe there’s more price growth and further improvements to come through new transport links, shops and businesses boosting the area’s popularity during the next decade.
“We wanted somewhere that we could see grow around us over the years, and wanted to invest in that growth too,” says Beauchamp, a financial controller who works in Hammersmith.
“Everyone is upping their game at Nine Elms, and the quality is shining through.”
Their home at The Residence, built on the site of a former Christie’s art storage warehouse, has two balconies and views of the new United States embassy and the Thames.
Prices start at £615,000. Call 0845 548 8035.