Stepping onto the property ladder in London seems like a distant dream for so many first-time buyers. Despite recent falls to London property prices, with the average house price still in excess of £520,000 it remains the most expensive place to live in the UK.
According to property website Zoopla, the average deposit now needed to secure a London home stands at £77,272, versus an average of £25,000 across the rest of the UK.
As houses in central districts are almost off limits for those who aren’t earning huge sums, more and more buyers are flocking to the outer boroughs, which still offer reasonable commutes and amenities but for a more affordable price. Zone 5
East Croyden
Commute to Zone 1: 17 minutes
Average price: £276,403
Croydon. While its sixties concrete exterior and above average crime rates have given it a bit of a bad rep, the future looks bright for this London suburb. In recent years, a range of high-end restaurants have moved in, making Croydon more of a destination for the ‘foodies’ among us.
Boxpark for example, a venture which brings together modern street food and fine dining, was built on what was a derelict brownfield site next to East Croyden station. The site is made up of 80 shipping containers filled with independent retailers and producers and draws in huge crowds each week.
Not only that, but the area is also set to be the next location for a Westfield shopping centre, which would introduce a huge number of high end retailers and jobs to the area.
Food and shopping aside, Croydon’s rich music and art culture are among other popular reasons to make the move.
And the best bit … it’s less than 20 minutes into central London.
Northolt Park
Commute to Zone 1: 20 minutes
Average price: £456,262
Despite being dappled with green open spaces, Northolt is conveniently located near to a range of transport links, which makes commuting to central London very simple. There is also a 24-hour bus service that runs to and from Heathrow airport, which will come in very handy for those who travel frequently.
Bromley South
Commute to Zone 1: 21 minutes
Average price: £413,676
With a wide variety of homes, six local train stations, gardens a plenty and highly rated schools, buyers are flocking to Bromley.
Classified by the Mayor of London as a Metropolitan Centre (only one of four south of the river), Bromley is home to a major shopping centre and had recently undergone a bit of a transformation, courtesy of the council.
With new pedestrian streets and a number of housing developments and other projects in the works, this would be a fantastic location for those looking for a base in South London.
The area boasts a range of house styles, from thirties semis through to new-build flats, there really is something for all budgets.