Zone 4, where is the best value for property?
Zone 4 - It’s basically like living in the country isn’t it? A long old commute to work, but without the benefit of the actual countryside? Well would it surprise you to know that the average travel time into the centre of town from Zone 4 was 33 minutes?
What’s more, from eighteen stations in Zone 4 the average travel time is less than half an hour. And yet the average house price is £421,000. This is 71% lower than average prices in zone 3; similarly rents are 50% lower than those in zone 3.
For first time buyers who may find taking their first steps onto the property ladder daunting, zone 4 really is a good bet. And when you scratch the surface, zone 4, like zone 3, is full of up-and-coming areas with new housing, re-vamped town centres, new businesses’ and vast green spaces. Places like New Cross Gate, Rayners Lane and West Harrow have some beautiful new build apartments contributing to the areas.
But given the array of places to live where is the best value property in zone 4? Here are some of our top picks so you can decide for yourself:
Barking and Leytonstone came up as the very best value places to live in zone 4. Barking, with its low average house price of £198,852 and rental price of £1,176, has a disproportionately low travel time of only 27 minutes to central London.
Also in the East, Leytonstone, with average house prices of £387,880, seems distinctly ‘under priced’ when taking into account its low 19 minute travel time. Leytonstone also came up as the best value area in terms of rents, with its average rent of £1,291 making it 7% under priced overall.
This balancing out of price vs travel time is seen again with Bounds Green. With an average house price of £450,886 and rental price of £1,164, Bounds Green is in the top half of the most expensive places to live in zone 4. However, with an average travel time of just 25 minutes, its higher prices seem fully justified.
Similarly, Wanstead and Woodford, which have above average priced property seem better value when the house prices are considered in the context of travel times..
This is seen again South Woodford where, with an average house price of £440,000 and an average rental price of £1,334, it may be considered quite expensive for zone 4. But when you factor in the travel time of just over 24 minutes, it actually becomes an under priced area and very good value for money.
Wembley Park, with average rents of £1,336 and average house prices of £351,536 has an average travel time of just over 26 minutes. This suggests its good value for money.