With increased rents across the board in Zone 1 and Zone 2, savvy Londoner’s are looking farther afield to get more for their money (or even to find somewhere they can simply afford!).
Zone 3’s standard big hitters, Balham, Wandsworth, Tooting Bec and so on, are of course first point of call, but nowadays these are almost as expensive as their Zone 2 counterparts. The good news is, there are some upcoming hidden gems in the band that are worth noting as letting agents and property investors looking to ensure you are first to the hotspots.
Where Letting Agents and Investors should focus in London’s Zone 3
West Norwood: Postcode SE27 offers a community feel that helps residents escape from ‘London’. It’s suitable for young professionals, couples and more mature residents alike due to the gentrified shops and cafés but quieter nature of the area. Despite a somewhat scruffy high street, the area’s value, in terms of both financial worth and residential appeal, is set to rise due to the arrival of a trendy monthly market boasting everything from vintage fashion to food, crafts and plants.
Tottenham: It is safe to say that Tottenham gets bad press but a huge regeneration programme, the areas look, feel and value are expected to change drastically by 2025 so get in now. The programme is expected to bring 10,000 new homes and 5,000 jobs to the area with the new builds to compliment the Victorian terraces and more desirable Georgian fronted homes that will remain.
Cricklewood: This area in NW2 is benefiting from the £4.5 billion regeneration scheme underway at Brent Cross Shopping Centre due to its location just south of the North Circular. The area attracts professionals and young families due to it’s inexpensiveness in comparison to next door West Hampstead. In addition, the area offers variety due to a mix of Victorian, Georgian and new build properties. Average rent for a 2 bed flat comes in at an average of £1,884pcm.
Acton: This long overlooked area with excellent links to central London is on the up due to the rebuild of its rather rundown but vast South Acton Estate. The high street has also seen great improvement of late and there are rumours that Starbucks are also looking for premises there. Get in now!
Which areas will benefit from Crossrail?
When Crossrail arrives later this year, two Zone 3 areas are set to benefit most: Forest Gate and Ealing.
While many areas will feel a positive impact, these two in particular needed the connection to boost desirability and investment and should be focused on by letting agents and investors searching for the next big thing. Unlike other areas on the Crossrail line, these two will be less expensive, for now.
Once the new line is active, Ealing will be just 11 minutes from central London, while Forest Gate near popular Stratford, will be 17.
Find out more about Crossrail Hotspots.
Why Are You Here?
If you are reading this article then we know that you are a smart agent or landlord and what do smart agents and landlords do? Listen to ARLA.
In a recent statement, ARLA said that robust inventories will still be required after the tenant fee ban so as to mitigate against further losses by not cutting corners. At Assist, we can deliver that.
If you need a property inventory clerk in London please contact us now or save our details for when you do.