The average London house price has topped the half million pound mark, now standing at a £550,000.
But while this asking price may get you a spacious family home in certain boroughs, you’ll be lucky to even find a property at that price point in other postcodes.
Here’s how houses around this price mark compare across the capital…
Though property prices in Acton have shot up over the last few years, the average two bedroom property still stands at a reasonable £400,000.
Buyers are attracted to the area’s trendy delis, boutiques, and Victorian properties, while landlords and investors are drawn to the high yields.
Properties around Acton Mainline station fetch healthy yields of 4%, but yields are highest around the western end of Uxbridge road at 4.6%. Investors will also benefit from capital growth, and we expect property prices to continue to rise as Crossrail is due to launch in 2019.
2 bedrooms, 1 bathroom | Avenue Gardens, Acton, W3 | £549,950
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Battersea - or ‘Nappy Valley’ as it’s nicknamed due to its popularity with young families - represents village life in the heart of the city. There are a number of outstanding schools in the area, there’s a wealth of green space, and there are street parties and community events galore.
2 bedrooms, 2 bathrooms | Hardwicks Square, Southfields, SW18 | £495,000
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Young, arty types are spreading from Shoreditch to its neighbour, Bethnal Green, in search of bargain gems and large properties fit for sharers.
This east London area is popular with investors and landlords, as yields are high (4.1% around Bethnal Green Tube station, 4.1% in Haggerston, and 5.3% near Bethnal Green rail station), and there's huge demand from tenants looking to live in the vibrant, up-and-coming area.
5 bedrooms, 3 bathrooms, Hackney Road, E2 | £590,000
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Camden is an area rife with students and young professionals, drawn to the area’s vibrant night life and culture, so landlords don't struggle to find tenants, and void periods are minimal. Large 4 or 5 bedroom properties are extremely sought-after by tenants.
The highest yields in the area can be found towards Caledonian Road; properties on Brewery Road, Market Road and North Road all fetch yields of 4.6%.
Lots of first-time buyers are being drawn to nearby Kentish Town and Archway, where properties are a comparative steal compared to those in Camden or popular Primrose hill.
2 bedrooms, 1 bathroom | Agar Grove, Camden, NW1 | £565,000
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Clapham will always remain a hotspot for buyers and tenants, attracted to the area’s expansive common, historic Old Town, and fantastic amenities.
But it’s Brixton that’s now in the limelight. No longer a cheap alternative to neighbouring Clapham, it’s one the most gentrified places in London, crammed with contemporary eateries, buzzing bars and nightlife.
1 bedroom, 1 bathroom | Beta Place, Brixton, SW4 | £545,000
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Dulwich is a haven for buyers, attracted to the area’s countryside feel, fantastic schools and period property.
Dulwich’s neighbours, Peckham and Camberwell, have also shot up the league table as the capital’s trendiest and most sought-after areas in recent years, offering affordable accommodation to first-time buyers and tenants, and some of the best yields in London for investors.
In fact, Peckahm offers yields in excess of 5%, with properties north of Queens Road experiencing yields of 5.6% - which is almost unheard of in London nowadays.
4 bedrooms, 2 bathrooms | Culmore Road, Peckham, SE15 | £525,000
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Kensington and Chelsea
Only 6% of properties in the Kensington and Chelsea borough are priced £550,000 or less, so if you find a property within budget, the likelihood is that it’s going to be snapped up extremely quickly!
We suspect that will be the case for this property that’s currently available for sale, which is being offered to the market with no onward chain.
2 bedrooms, 1 bathroom | Dawes Road, Fulham, SW6 | £550,000
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If you’re looking for affordability, head to Walthamstow. The average price for a flat in the area is just £318,668, and if you’re looking for a bargain, try Blackhorse Lane, Billet Road and properties bordering Chingford. We’re seeing a large number of tenants move from areas like Hackney and Islington to Walthamstow for cheaper rents, good transport links and handsome period properties.
The area is becoming increasingly gentrified, and a string of trendy cafes, shops, restaurants and delicatessens are opening up to suit the area’s new demographic. Properties in Walthamstow Village are the most sought-after, as are homes near Walthamstow central station.
3 bedrooms, 1 bathroom | Hamilton Road, Walthamstow, E17 | £525,000
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If you’re interested in any of the properties featured, please give us a call on 0207 099 4000!