Get the fast train: top 10 London postcodes for new family-sized houses — all under 30 minutes from the centre of town
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Most buyers accept house prices head downward as the journey from central London gets longer. But a new study, exclusively for Homes & Property, shows there are some notable exceptions to the rule.
We have discovered the top 10 postcodes within 30 minutes’ travel time of central London that have bucked the trend to offer shorter journey times with comparatively lower prices.
The study, in collaboration with estate agents Marsh & Parsons and undertaken by property market analyst Dataloft, calculated the total commuting time from front door to central London for 100,000 homes sold in the capital over a two-year period.
The price paid was divided by the total journey time to find the ratio between price and commute.
Using this analysis, north and east London offer the most affordable and accessible postcodes.
Stratford (E15) tops the list, followed by Wood Green (N22), Seven Sisters (N15) and Bow (E3).
These results were then cross-referenced with the number of new-build developments that include a proportion of family houses, to discover where London’s young families seeking value can buy.
In the last two-and-a-half years, one in every 10 homes bought in the capital has been new build.
While billboard signs advertising new schemes are scattered across the city, they are mostly for apartments rather than houses — 91 per cent of sales have been flats and just nine per cent were houses.
In other words, 2,600 new-build houses have been sold, compared with more than 25,600 flats and more than 240,000 “second-hand” homes.
Drill down to just Zone 2 and the numbers are even smaller: only 2.8 per cent of sales have been new-build houses.
“Young couples with growing families are attracted to new build with 10-year warranties, low running costs, new fixtures and fittings, easy maintenance, parking spaces and gardens,” says Alex Greaves of Marsh & Parsons.
Parents also want short commuting times, good schools and a family environment. Here are the best options on the market.
SW9: STOCKWELL
Favoured for its excellent transport links by those who need to be in the City or West End for work, SW9 offers a thriving family scene, with the popular Stockwell Mums email group advertising anything from bicycles to baby massage classes, as well as sharing advice on every local matter.
As for green space, Max Roach Park, Myatt’s Fields Park and Slade Gardens are on the doorstep, while local primary schools Hill Mead and Reay are currently rated “outstanding” by the government education watchdog, Ofsted.
Five minutes from Stockwell station, it’s just a nine-minute ride to Oxford Circus.
Houses come with off-street parking and are set at the back of the development, which is quieter, gated and therefore great for children. From £1.2 million through Marsh & Parsons (020 7498 5613).
As an alternative, three-bedroom mews houses at Salisbury Place, a short walk from Myatt’s Fields Park and Oval station, are on the market with Hunters for £750,000 (020 7708 2002).
SW4: CLAPHAM
While Clapham is generally considered to be more expensive than neighbouring Stockwell, SW4 still makes it into the top 10 postcode districts with the lowest average price and shortest commute to central London.
Part of the original “nappy valley” district of south-west London, the area bristles with everything for a young professional family, from Scout groups to ballet classes and Playball activities.
The area passes the green space test thanks to 220-acre Clapham Common. Local primary schools Macaulay, St Mary’s RC and Clapham Manor are rated “outstanding” by Ofsted. With a “good” rating, Wix is a bilingual French school.
New-build homes to buy: a three-bedroom terrace house with off-street parking and private gardens in Bourke Close at Parkside Place is £850,000 through Dexters (020 8742 4140).
E15: STRATFORD
Ranking as the most affordable area for access to central London in our survey, Stratford struck infrastructure gold with the London 2012 Olympic Games.
Westfield Stratford City shopping centre is welcomed by young families, while Queen Elizabeth Olympic Park — the largest park created in Europe for 150 years — is here, too.
Plenty of local primary schools get a “good” Ofsted rating, and Colegrave is “outstanding”.
New-build homes to buy: a gated development of four-bedroom houses, each of the homes in Atherton Court has its own parking bay and courtyard garden.
Maryland station, which will be on Crossrail next year, is a short walk away and there’s a new leisure centre and swimming pool at the bottom of the road. Prices start from £800,000 through Foxtons (020 7973 2020).
N22: WOOD GREEN
Boasting a large shopping centre, Wood Green is Haringey’s biggest town centre.
The Tube station is served by the Piccadilly line, while Alexandra Palace station has trains to King’s Cross and Moorgate.
Alexandra Park is the stand-out green space, though there are a number of smaller ones, too. Rhodes Avenue, Belmont Juniors and Trinity are the “outstanding” local primary schools.
New-build homes to buy: four-bedroom semi-detached houses in a small scheme in Canning Crescent, near Wood Green station, come with a communal garden and off-street parking. From £795,000 through KFH (020 3792 4183).
SE17: WALWORTH
Considered one of the last neglected areas of London, Walworth is on the up, thanks to the extensive regeneration of neighbouring Elephant & Castle and proximity to central London.
For now, it’s more on the map for first-time buyers looking to walk to work, rather than professionals with young children.
Southwark’s largest park, Burgess Park, lies just to the east and Kennington Park is to the west.
“Outstanding” local primary schools are St John’s Walworth CofE, Crampton, Surrey Square and Keyworth.
New-build homes to buy: most new-build attention is focused on flats rather than houses but a one-off end-of-terrace house in Victory Place with three bedrooms, secure cycle storage and a roof terrace with views towards the Shard is on the market for £1.4 million through Gordon & Co (020 7703 7088).
SE16: CANADA WATER
Emerging Canada Water in Zone 2, ideal for Canary Wharf, is benefiting from a £2 billion Southwark council masterplan, including the state-of-the-art library and public plaza.
New to the scene is the Singapore-style Hawker House street food warehouse.
This district is working on its family amenities — Monkey Music and other toddler and pre-school classes are fewer than can be found in other areas.
Attractive stretches of the Thames Path make good scooter and cycling areas, and Southwark Park lies right in the middle of SE16.
“Outstanding” local primary schools are Albion, St Joseph’s RC, Rotherhithe, Riverside and Ilderton.
New-build homes to buy: seven three-bedroom houses at Dockside Terrace in Rotherhithe Street each have a study and come with use of communal tennis courts and underground parking.
Priced £1,325,000 through JLL (020 7715 9700). At London Square Canada Water, three-bedroom flats with a balcony or roof terrace are priced from £850,000. Call 0333 666 0106.