Four London areas becoming burgeoning hubs for first-time buyers looking for a hybrid working base
- 20th October 2021
- Buying Property News
Areas surrounding East Dulwich, Tooting, Oval, and Finsbury Park offer green space, local retail and excellent transport links for affordable prices
London boasts many attractive areas perfect for first-time buyers who are willing to look beyond destination locations. Areas surrounding East Dulwich, Oval, Finsbury Park and Tooting provide affordable options, with close proximity to green spaces and access to local amenities, not to mention excellent public transport links and cycle lanes. Each has its own distinct community feel and is within easy commuting distance to Central London and the City, meaning they are well suited to hybrid work models.
In early autumn ludlowthompson sales applicants increased by 31% in these districts from 2019 to 2021 and it’s easy to see why.
Examples of touch point locations for first-time buyers include Loughborough Junction close to both the Oval and East Dulwich offering excellent amenities at more affordable prices than its leafy-neighbour Dulwich. Being close to Brixton the area boasts excellent restaurants and entertainment options. With commuters able to both catch public transport and cycle to London Bridge and the West End in around half an hour, the area is a perfect hybrid-working base. One such transaction is a three bedroom house on Shakespeare Road, successfully sold at £560,000.
The areas surrounding South West London’s Tooting are also affordable options for first time buyers. Nearby Colliers Wood, located between Wimbledon and Tooting, offers excellent value for money and is home to gems such as the converted 18th Century textiles factory, Merton Abbey Mills, which now houses a crafts and artisan food market. The area offers great links for hybrid workers, with the Northern line connecting commuters to many City and central London workplaces. Properties in Colliers Wood, including this two-bedroom flat, are approximately 25% cheaper than in Tooting. First-time-buyers could also look to Mitcham, which borders Tooting.
Periphery areas to the Oval are in high demand, due in part to its excellent transport links via Oval, Kennington, Stockwell and Vauxhall Stations and proximity to bustling areas like Brixton and Vauxhall. Commutes to the City of London from the Oval can be as quick as under 20 minutes, with the S7 Cycleway taking a cyclist most of the way both speedily and safely.
Beyond the world famous Oval Cricket Ground in Kennington, the area has a thriving bar and restaurant scene, including vegan eatery Café Van Gogh, The Fentiman Arms pub, and 24 The Oval bistro, and Lambeth North is home to the Imperial War Museum. One bed apartments on Camberwell New Road are available for as little as £340,000.
North East London’s Finsbury Park centred on its namesake park, with a lake, walking paths, outdoor gym and skate park, is another hotspot for a mix between green space and proximity to desirable locations. The district has superb transport links on the Victoria and Piccadilly lines, with tube links of under 25 minutes to the City of London. Foodies and coffee enthusiasts will love Salt The Radish and tapas joint La Fabrica, and The Park Theatre offers entertainment all year round. With a steep history in textiles it is the perfect place to search your dream wedding dress or shop independant for quirky fun gifts at Pretty Shiny Shop on Stroud Green Road. Two-bedroom apartments like this one in Finsbury Park Avenue sell for £465,000, making them easily accessible to first time buyers. To show what you can expect from Finsbury Park and see why it is such a great place to be, watch the video we recently made in partnership with a number of local businesses and organisations.
Stephen Ludlow, Chairman of ludlowthompson, says: “A combination of access to outdoor space, vibrant local retail and hospitality, and availability of a plethora of commuter transport options, included within TFL’s traditional and active travel plans, became increasingly desirable during lockdown and is set to remain as the new mode of hybrid working responds to the opening up of London.”
“Areas surrounding Oval, Tooting, East Dulwich and Finsbury Park have these qualities and more, making them ideal places for first-time-buyers to live.”
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A combination of access to outdoor space, vibrant local retail and hospitality, and availability of a plethora of commuter transport options, became increasingly desirable during lockdown and is set to remain as the new mode of hybrid working responds to the opening up of London.
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