Zone 3 makes a first class case

The property market in outer London has heated up over the last year, with average growth of 16% in 2014, according to our recent Borough by Borough report. Despite these increases, you will find many areas around the 93 tube stations in Zone 3 still have a relatively affordable housing market. 

Prices across Zone 3 as a whole average around £488,000; that’s around a third cheaper than the £723,000 you’d pay in Zone 2. But price isn’t the only thing driving demand in Zone 3. Exciting new developments, upgraded town centres, vast green spaces, and new businesses, and all with an average travel time of just 29 minutes to get into central London, are truly putting Zone 3 on the map.

And it’s not just buyers; renters are also upping sticks and moving into Zone 3. And who can blame them when you see that the average monthly rent of a two bed apartment in Zone 3 is £1,600 pcm compared with £3,600 pcm in Zone 1 and £2,150 pcm in Zone 2.

The cheapest places to buy in Zone 3 are around Beckton Park and King George V stations, at nearly half the Zone’s average. However, it does take over half an hour to get into the centre of town. If you are looking for better value and a shorter journey you’d do well to  looking east.  

It takes less than 15 minutes to get into the centre of London from Stratford and with an average house price of around £325,000, this becomes our second best place to live in terms of price and travel time.  Also in East London, properties in Plaistow, Upton Park, East Ham and Leyton with travel times of between 12-16 minutes, seem hugely undervalued. Particularly compared with its counterparts in the north and west; Manor House and Archway have a similar travel time, but  are almost double the price.

Our top pick is not in the east though; in Tottenham Hale, prices are 40% below the Zone 3 average and rents are20% below. But with great transport links it is only 14 minutes into central London. This makes this area the most undervalued property market in Zone 3.

To the south east, North Greenwich is 19% cheaper than the average house price in Zone 3. When the average travel time of just over 21 minutes is considered it is completely undervalued, so on our list of best value to time ratio.

Finally, on the Northern line, yummy mummy hotspots of Clapham South and Balham have average house prices nearly in line with Zone 2 prices (at nearly £700,000), suggesting vastly inflated prices. However, when considered alongside the incredibly quick travel time of just over 20 minutes,  both areas are much more fairly valued.  And looking at rents, both areas are (surprisingly) significantly undervalued even though the rental prices are 10% over the Zone average. In contrast Golders Green, and Highgate on the opposite side or the northern line have the same average travel time but a huge average house price of just over £1m, making the south of the northern line more financially desirable.

Top twenty most affordable in Zone 3:

Area House Price
Beckton Park £240,055
King George V £248,850
Upton Park £251,564
East Ham £259,435
Stonebridge Park £272,090
West Ham £274,640
Plaistow £276,416
Cyprus £282,554
Beckton £283,809
Gallions Reach £290,931
Tottenham Hale £292,840
Abbey Road £296,406
Star Lane £297,156
Woodgrange Park £310,191
Royal Victoria £311,854
Prince Regent £315,916
Stratford £324,608
Stratford International £324,608
Bromley-by-Bow £325,050
Pudding Mill Lane £325,050


Top twenty Zone 3 locations when travel time is accounted for:

Area Travel time House price
Tottenham Hale 14.75 £292,840
Stratford 13.75 £324,608
Bromley-by-Bow 14 £325,050
West Ham 17.5 £274,640
Plaistow 18 £276,416
Upton Park 21.5 £251,564
East Ham 22 £259,435
Leyton 17 £348,128
Seven Sisters 17 £360,232
Stratford High Street 19.5 £332,676
Abbey Road 23.5 £296,406
Star Lane 23.75 £297,156
Stratford International 22.75 £324,608
Blackhorse Road 20.75 £363,169
Canning Town 21.5 £355,320
Pudding Mill Lane 24.5 £325,050
Beckton Park 33.25 £240,055
King George V 33.25 £248,850
North Greenwich 21.75 £395,952
Royal Victoria 27.75 £311,854