Best areas in London for home buyers:where first-timers, second steppers and 'forever' house-hunters should start their search

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New research published today charts a typical Londoner’s property journey, highlighting the locations attracting the most interest from first-time buyers, second steppers, and “top of the ladder” buyers searching for big family homes.

We start off wanting a not-very-expensive flat in a leafy north London village, then take the second step to a smallish house in the same area, and finally cross the river to buy the “forever” home, according to the study by Rightmove.

Top London areas for first-time buyers 

The three most popular locations identified by the study for a starter home — defined as anything from a studio to a two-bedroom flat — are far north of the river: Kentish Town, Stoke Newington and Highbury.

These are clearly not the most expensive, established north London postcodes but flats in top-choice Kentish Town are about a third cheaper than those in Hampstead, two miles away.

“We get loads of first-time buyers who have been renting in Camden, Islington or Primrose Hill, and when they buy they just move up the Northern line,” says Charlie Cockcroft, director of Dexters estate agents.

“They like the fact that the style of house is very similar, and you have got the Tube and London Overground.”

Kentish Town is also within walking distance of Hampstead Heath and has some great pubs including The Vine and The Lord Palmerston, while Parliament Hill’s lido and tennis courts are up the road.

Grimy and traffic-choked, Kentish Town Road is a minus. Cockcroft agrees but says change is happening. “We have got a Gail’s Bakery now, and a Franco Manca pizza restaurant, and that is an improvement, We need more high-profile brands.”

Stoke Newington and Highbury are also key areas for first timers, along with Dalston — technically in east London but in fact just south of Stokey. The only exception to the north London rule is affordable Forest Hill in SE23, the least expensive of the top five.

Top locations for second-steppers

Buyers trading up the ladder have an affection for north and north-east London. Highbury, Dalston and Kentish Town are the top locations for three- or four-bedroom homes. 

South London regeneration zone Elephant and Castle is a slightly surprising entry in fourth place. But alongside thousands of new flats and billions being spent on new facilities, plus fabulous Zone 1 transport links, the Elephant has larger properties, old and new, for families.

Top of the wish list is likely to be one of the amazing Georgian houses in West Square, for which you can expect to pay about £2.5 million for a four-bedroom home. While West Square is a five minute walk from Elephant and Castle station, Tom Floyd, sales manager of Winkworth, says residents tend to claim they live in “north Kennington”.

For a more budget-friendly option, Floyd recommends an early Victorian terrace house in a road such as Henshaw Street. A three-bedroom, 1,100sq ft house here would set you back between £850,000 and £900,000.

“Buyers tend to be young families in their early thirties selling a flat somewhere like Borough, not ready to move much further out and wanting their children to be able to stay at their schools,” says Floyd.

There are also three-bedroom flats at Elephant Park, the new homes at the heart of Elephant and Castle’s rebirth. Lendlease is currently  selling a 1,247 sq ft triplex here for £1.2 million. At The Levers, another new development, in Amelia Street, Hastings International has a three-bedroom 976sq ft apartment priced at £750,000. Floyd says a three-bedroom period flat — Charleston and Larcom streets, both in SE17 towards Walworth, are recommended — would cost between £600,000 and £700,000.

Where buyers find their forever homes

Buyers searching for plenty of space, with five bedrooms or more, are looking south-east towards Forest Hill for affordable large period houses and green spaces. On the downside Forest Hill lacks a heart, so locals need to go to either East Dulwich or Peckham because local restaurants and bars are a bit boring.

Javaid Ahmed, sales manager of Kinleigh Folkard & Hayward, divides Forest Hill into three zones. The most expensive is around the fabulous Horniman Museum, where a five-bedroom Edwardian house or a Thirties semi would cost about £1.2 million.

Houses around Honor Oak Park are a little smaller, and you could buy a Victorian terrace for about £900,000.

The best value is around Stanstead Road, towards Catford and further from the station, where a Victorian property would cost £800,000 to £850,000. In East Dulwich, five minutes’ drive away,  a five-bedroom house would cost about £1.4 million.

“Around Horniman Gardens there is a nice sense of community, the primary schools are good and it feels safe and calm,” says Javaid Ahmed.

It is also a very easy commute, with trains to the city taking 15 minutes.

Top-of-the-ladder family house buyers also go to Islington for a gorgeous Georgian, Camberwell which has fabulous enclaves of Georgian townhouses, Stoke Newington and, back in north London, Holloway.

https://www.homesandproperty.co.uk/property-news/best-areas-in-london-for-home-buyers-where-firsttimers-second-steppers-and-forever-househunters-a132166.html