The Best of the Cheapest Places to Live

Along London’s New Tube Line

Crossrail Effect’ will boost home values

in up & coming locations

Now is the time to rent new homes at old fashioned prices!

By Ann Dinsdale, GMS, ann.dinsdale@saunders1865.com

An expert report says that transport-led regeneration produces the biggest increase in home values.

The building of the new Elizabeth tube line through London’s SE postcodes is pointing to growth in several areas that will now be within quick commuting distance of downtown.   (Scroll down for map.)

Woolwich and Abbey Wood are just outside of Zone 1, are both getting new stations and are part of an area of London that’s cheaper than most – with average rental prices below £400 per week.

We’ve worked out where you can live affordably just outside of Zone 1 within a quick commute of Central London and the City.

Woolwich:

The Crossrail is cutting the commuting journey to Canary Wharf to just eight minutes.  The new station will be within the Royal Arsenal Riverside, a former munitions factory.  It will also house shops, eateries, pubs, a monthly farmers’ market and a £31 million cultural centre which will include two theatres, artists’ spaces and outdoor performance areas.  Away from the station, Woolwich has leafy tree-lined streets and beautiful conservation areas.

Works are upcoming on everything from new river-facing flats with roof gardens to three-bedroom townhouse.  Average weekly rent is around £390.

Thamesmead:

A £4 billion plan for a new town centre has been put forth for new cafes, libraries, schools, community gardens and waterside public areas.  Improved cycle routes to the Abbey Wood station are also planned.  Clusters will be created around shared courtyards to create smaller communities.

The new homes will range from one bedroom flats to four bedroom houses.   Average weekly rent is currently around £200 for a one bedroom flat.

Greenwich:

The old maritime town of Greenwich is the second most-visited area after Central London but planners want to grow housing on the waterfront east of the town centre.  Greenwich Peninsula in particular is a growing 15,500 home neighbourhood near the O2.

Currently, average weekly rent stands at £487 on average for a one bedroom.

Charlton:

Currently, Charlton Riverside is a 275 acre area dominated by retail parks and transport depots.  But plans are in the works for 7,500 new homes, green space, schools, a river bus pier and improved pedestrian links.

New-London-Tube-Line-Map

 

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