Affordable Luxury In London’s Zone 3
One of the great things about London is the way in which it is so perfectly structured. Our vast city is nothing more than a collection of small villages, seamlessly and organically pitched one by one next to each other; albeit in some places slightly more packed in and more densely populated.
While we’re not proclaiming Highbury to be Hawkshead or likening Camden to the Cotswolds, it is true to say that each town in London has its own style, its own customs, community and quirks. The east end is steeped in history while the west lays claim to the more expensive properties on the monopoly board. The north is cosmopolitan and the south will always be enchanting; regardless of your standing point the villages of London continue to coexist in perfect, diverse harmony. This means there is a lot on offer anywhere you choose to move to in London, and at the moment the following spots in Zone 3, (incidentally where homes are 41 per cent cheaper on average than in Zone 2) are attracting a lot of attention for their affordable luxury.
Let’s start in the east with Leyton. This particular area, located in the borough of Waltham Forest, boasts excellent proximity to Epping forest, the Hackney marshes and Olympic park as well as a revitalised high street and a host of new investments on the back of both the Olympics and the overspill of footloose Londoners priced out by the ever-increasing population. Those looking to make an investment in the Zone 3 area should be aware that Leyton is known for its good value. In the current climate, paying in the region of £400,000 to £650,000 for one of the many smart Victorian or Edwardian terrace houses is an incredibly good deal.
Out in the west, Ealing has always had a local reputation as one of the more sophisticated places to reside in zone 3. With its leafy pavements, winding high street and quintessential common right in the thick of it all, it is rather the envy of some of its less popular neighbours. Resting at the end of the central line, Ealing was lucky enough to make the cut for the night tube, however, once Crossrail arrives commuters will be able to reach central London is just 15 minutes, almost half the time it takes at present.
To get a gauge on how profitable a move to zone 3 could be, let’s compare for instance Balham with its rich cultural diversity to Colliers Wood. In 2014 the average price for a property in Balham was around the £576,622 mark, while a similar set-up in Zone 3’s Colliers Wood would have cost closer to £364,949 – quite a saving by anyone’s standard’s.
Ultimately the choice is one of a ‘better’ location, or a cheaper purchase, however with more and more people choosing to make sticks in Zone 3, the definition of a ‘better’ location blurs in the face of new investments, booming local economies and more money in your pocket.
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