Over the past few years, Forest Gate has proven it’s a fantastic area to invest in property, with the knowledge that Crossrail is opening here, amenities and eateries appearing at a rapid rate and close proximity to Central London. With all of these perks, it’s incredible to see that house prices are still at a much lower price in Forest Gate than its neighbours, making it an area to seriously consider.
1. Investment and Growth
With Crossrail opening a station in Forest Gate later this year, the area will benefit from quick and easy access to Central London. For those working in The City, this is already a handy area to reside, so now the airport is within easy reach, this will be an attractive area for business travellers too.
Nearby Stratford has also seen masses of regeneration and investment in the run up to and in the aftermath of the London Olympics in 2012. With great sporting facilities and amenities, living in Forest Gate offers these perks to residents too.
2. Social Life
Forest Gate offers lots in the way of amenities and entertainment. Within Forest Gate itself there are great pubs and restaurants within easy walking distance, as well as the Wanstead Flats for some fresh air.
The area is only a short distance from Stratford, which offers many eateries, shops and entertainment to local residents in Westfields and the Stratford Centre. There’s also the Olympic Park, the Olympic swimming pool and various canalways to explore. Due to this, Forest Gate is a popular area with renters moving into and around London.
3. Types of properties
The area offers a variety of properties, perfect for the diverse range of people looking to live here. Purpose built flats are a plenty, as well as many Victorian terraces for those looking for a family home or a house share. With the prices here so reasonable, the Victorian terraces are a great option as they hold their value well.
Some great examples of properties on offer here are this three bedroom terrace on Warwick Road and this four bedroom, three storey terrace on Upton Park Road.
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Forest Gate offers fantastic transport links – with trains directly to Liverpool Street currently and upcoming Crossrail offering fast trains to Tottenham Court Road and even Heathrow. At nearby Stratford the underground offers fast links to Bank and Canary Wharf, to name but a few. Given its ease of access to industry hubs, Forest Gate is a great commuting location, therefore popular with renters.
5. Property Prices
Average property prices in Forest Gate sit at £455,446 according to Rightmove data. Last year most property sales in Forest Gate were for terraced properties, which sold for on average £498,252, and flats in the area sell for an average price of £291,189. Sold prices in Forest Gate are up 10% year on year.
Rental Yields for Forest Gate currently sit at 4.7%, which is much higher than its neighbours. You can explore our auto-updating Yield Map to keep on top of yields by area around London now.
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