The presence of top restaurants can indicate an area where everything, including property, comes at a premium. But new research highlights nine options for London homebuyers with affordable property prices and top local restaurants.
Research by Emoov found foodie areas in the capital where property is still below the borough’s average for potential homebuyers looking to invest in property near great dining without breaking the bank. Not surprisingly, many of the areas are based in the Southern and Eastern corners of the city.
Top nine hidden restaurant property hotspots
Willy’s Wine Bar, EC3M: 70 per cent saving
Willy’s Wine Bar has several options on offer and the wine comes at an affordable price tag despite being in the centre of the after-work drink scene.
The average house price paid in Willy’s EC3M is £570,666, a significant drop (70 per cent) from the City of London’s average price of £972,524.
Artusi, SE15: 39 per cent saving
Heading south of the river, Peckham’s SE15 is home to the restaurant Artusi, a local hotspot for food lovers and an excellent choice for people in the neighbourhood looking for some great Mediterranean cuisine at an affordable price.
Property prices in SE15 average at £532,424, 39 per cent cheaper than the average house price of £739,418 in Southwark as a whole.
Gremio de Brixton, SW2: 20 per cent saving
Once a less desirable area of the city, Brixton is quickly becoming a hotspot for all things cultural, so much so that Prince Harry and his new fiancée visited the neighbourhood recently.
Of the countless restaurants and bars popping up in the area, Gremio de Brixton stands out because aside from food, the venue serves several purposes: live Spanish music and a club later in the evening, all below a church in an old crypt.
Such versatility served with tapas and wine comes with an average price tag of £593,858, 20 per cent cheaper than the Lambeth average of £713,971.
Arena, HA9: 19 per cent saving
In the North-West corner of the city, there’s a cosy family run restaurant with a taverna vibe and live music on Saturdays for locals looking for some delicious Greek dining options.
The borough average in Brent is £548,905, but house hunting around Arena and the HA9 neighbourhood could save you almost £90,000 with an average price of £461,994.
Platform 1, SE22: 11 per cent saving
East Dulwich’s SE22 is home to Platform 1, a permanent pop up restaurant with a rotating kitchen roster and a wine list with rare grape varieties. Not to mention, the restaurant is based in Lordship Lane, one of south London’s most charming streets with a cinema, a museum, cafes and restaurants.
Potential home buyers could save 11 per cent on the purchase of a home with an average property price of £666,786 in SE22, over £70,000 less than the Southwark average of £739,418.
Bacaro, E3: 8 per cent saving
Tower Hamlets has a wide array of places to eat, offering food from all over the globe – with Lahore
One or Nedoo’s offering some of the best curries outside of Brick Lane. Verdi’s close to Stepney Green also offers simple but outstanding Italian cuisine for a great price, while Eefes serves up honest Turkish food in a smart but refined setting.
Tower Hamlets’ E3 could save potential home buyers nearly £40,000 on their property with prices averaging £475,686, compared to the borough’s wider average of £512,776. It’s also home to Bacaro. Bacaro specialises in piattini & cicchetti – Italian tapas and is a great option for everything local and prices are reasonable for the capital.
Marcella, SE8: 8 per cent saving
Staying south in Deptford, buying local to SE8 would mean you are near the Italian hidden gem Marcella.
You could save 8 per cent on a property purchase. The average property cost in SE8 is £437,283, £33,935 less than Lewisham’s average of £471,218.
Buenos Aires Cafe, SE10: 4 per cent saving
Although there are two locations to enjoy Argentinian steak and wine by Buenos Aires, the Greenwich branch in SE10 also offers a saving of 4 per cent on property compared to the borough’s average of £598,756.
The second location in Lewisham’s SE3 costs 25 per cent more at £627,475 than the borough’s average price of £471,218.
Untitled, E8: 3 per cent saving
You can make a saving at the restaurant and bar Untitled, where diners can sample the entire Japanese inspired menu from a Michelin starred chef for a reasonable price.
Almost on par with the average price in Hackney, the E8 outcode offers a minimal saving with an average price going for £637,948, a £17,000 saving from the borough’s average of £655,006.
