New study finds bar­gains in ev­ery zone

Evening Standard - West End Final Extra - ES Homes and Property - - News - Find Ruth Bloom­field’s full story at home­sand­prop­erty.co.uk

LON­DON’S strato­spheric prop­erty mar­ket is hard to break into, but a new study re­veals today ex­actly where buy­ers can find the best-value prop­erty in Tube Zones 1 to 5.

The data looks not at av­er­age over­all price, but at price per square foot, a more ac­cu­rate in­di­ca­tor of prop­erty cost. It found the best value in Zone 1 was in the south-east Lon­don re­gen­er­a­tion zone of Ele­phant & Cas­tle and Ken­ning­ton (SE11), where there is a good mix of new build, pe­riod, and ex lo­cal author­ity prop­erty and an av­er­age price per sq ft of £876.

This is al­most 45 per cent cheaper than the av­er­age price per sq ft in Zone 1, which stands at £1,380.

Buy­ers want­ing to live near the City could look at the Fins­bury area (EC1R) where av­er­age price per square foot is £1,039, or Old Street, at £1,127.

Prices drop sig­nif­i­cantly in Zone 2, ac­cord­ing to the re­search by Hamp­tons In­ter­na­tional. Al­though the av­er­age price across the zone is £894 per sq ft, in New Cross (SE14) it is £630, while Dept­ford (SE8) and Bow (E3) are al­most equally good value at £673 and £677, re­spec­tively.

In Zone 3, the best value area is East Ham (E6), where av­er­age price per sq ft is £410, com­pared to a zone av­er­age of £675. Homes in Plais­tow and Forest Gate were also high­lighted for their value for money, with av­er­age prices of £432 and £476 per sq ft.

In Zone 4, Bark­ing (IG11) has the best value homes, at £388 per sq ft, while in Zone 5 the lead­ing lo­ca­tion is Da­gen­ham (RM10), at £352 per sq ft.

David Fell, re­search an­a­lyst at Hamp­tons In­ter­na­tional and au­thor of today’s study, said the re­search was a graphic il­lus­tra­tion of the sav­ings to be made for buy­ers will­ing to move a zone or two fur­ther from cen­tral Lon­don.

£320,000: the best value in Zone 3 is in New Cross (£630 per sq ft), where this one-bed­room flat in a fine pe­riod ter­race in New Cross Road is for sale through Robin­son Jack­son (020 8012 9129)

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