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Revealed: The best London property hotspots for first-time buyers in 2022

27/07/2022
Buying

Despite increasing house prices fuelled by demand following the Covid-19 pandemic, there are some fantastic opportunities for first-time buyers to get on the property ladder – particularly in London.

In fact, as recently as 2021, first-time purchases in the UK rose by as much as 35% compared with the previous year and were more than double the levels of every year since 2007.

So, where should first-time buyers be looking in London?

“There is no denying London is the most expensive place to live in the UK, but even for first-time buyers, there are achievable areas,” says Rob Smith, Managing Director of Ellis & Co.

“We certainly suggest considering Enfield and Edmonton as these are the most cost-effective areas – based on average prices for a two-bedroom flat (sources: Dataloft, Land Registry and DLUHC).

“While Enfield offers fantastic transport links, Edmonton offers plenty of green spaces.

“Always consider how close you are to transport links and the surrounding green spaces as you never know when a walk through the park will be just what the doctor ordered.’’

In this guide, we reveal the hotspots you should consider and the key financial figures you’ll need to factor in during your property search.

1. Tottenham

Tottenham
in North London is one of the capital’s best up and coming areas.

With around £1billion in new investment and station upgrades at Tottenham Hale costing £30million, Tottenham is unquestionably an area on the up.

Property prices in the area, however, offer some of the best value in London for first-time buyers.

Property prices in Tottenham

Avg price	Avg flat price	Avg house price	Avg 10% deposit	Stamp duty
£462,264	£326,985	£618,662	£46,226	£8,113

Tottenham rail connections

Tottenham is extremely well connected for a zone three area.

Turnpike Lane, Seven Sisters and Tottenham Hale offers Underground services to central London within a 30-minute commute, alongside National Rail stations at Bruce Grove, South Tottenham, Northumberland Park, and White Hart Lane.

Now read: Our Tottenham area guide

2. Enfield

Enfield
not only offers first-time buyers excellent transport links but is also home to some of London’s best houses.

Properties from the Georgian era are in high demand from well-funded buyers, but first-timers can choose from amazing early 20^th century houses and conversions, alongside modern apartments.

Property prices in Enfield

Avg price	Avg flat price	Avg house price	Avg 10% deposit	Stamp duty
£435,492	£286,017	£648,450	£43,549	£6,774

Enfield rail connections

Enfield is in zone five, but offers a commute similar to zone three, with Overground services from Enfield Town arriving at Liverpool Street in 30 minutes.

Now read: Our Enfield area guide

3. Greenford

Located between Wembley and Southall, Greenford
in West London offers first-time buyers a range of 20^th century houses and conversions – including flats with an average price well below the stamp duty threshold.

Because of its location in the west of the capital, Greenford also provides great access to Heathrow Airport, as well as central London via the Underground network.

The Grand Union Canal flows through the area, too, meaning lots of open, green space to enjoy.

Greenford property prices

Avg price	Avg flat price	Avg house price	Avg 10% deposit	Stamp duty
£433,189	£271,634	£545,138	£43,318	£6,659

Greenford rail connections

Central Line trains from Greenford and Perivale arrive at Bond Street in just 26 minutes, with National Rail services also available at Greenford station.

4. Lower and Upper Edmonton

Some of the cheapest houses in London are on offer in Upper and Lower Edmonton.

With an average property price of less than £350,000, first-time buyers looking in N9 and N21 would pay a little over £2,000 in stamp duty.

Victorian terraces are dominant in Upper Edmonton, in the streets that branch off from Fore Street.

In Lower Edmonton, to the north, some larger period terraces can be found, with modern apartment blocks on offer close to Edmonton Green station

Property prices in Upper and Lower Edmonton

Avg price	Avg flat price	Avg house price	Avg 10% deposit	Stamp duty
£346,160	£225,334	£438,615	£34,616	£2,308

Upper and Lower Edmonton rail connections

Trains from Edmonton Green station, in zone four, reach Liverpool Street in around 30 minutes, making the area a great option for those needing a fast commute.

5. Willesden Green

Although Willesden Green’s average property price is the other side of £500,000, the area offers a huge amount for first-time buyers to consider.

Willesden High Road was given a regenerative boost in the early 2010s and has grown into a vibrant, cosmopolitan hub full of independent shops, cafes, and bistros.

Properties in the area, meanwhile, include some of the most decorative Victorian houses and conversions outside of central London.

Property prices in Willesden Green

Avg price	Avg flat price	Avg house price	Avg 10% deposit	Stamp duty
£526,979	£418,519	£1,109,078	£52,697	£16,348

Willesden Green rail connections

Willesden Green station is between zones two and three and Underground trains on the Jubilee Line offer direct links to Bond Street, Westminster, Waterloo, and London Bridge.

Services to London Bridge arrive in a little over 30 minutes.

6. Wembley

Wembley
is another area of North London that’s enjoyed a funding and regeneration boost in recent years.

That’s helped to ignite its popularity among first-time buyers, with property prices in the area growing by 21% over the past five years.

The average price of a flat in Wembley sits nicely below the first-time buyer stamp duty threshold, while the area’s excellent transport links make it a great choice for commuters.

Property prices in Wembley

Avg price	Avg flat price	Avg house price	Avg 10% deposit	Stamp duty
£441,152	£288,050	£594,837	£44,115	£7,057

Wembley rail connections

Wembley Park station is in zone ?? and offers Underground services on the Jubilee and Metropolitan Lines.

Trains on the Jubilee Line take less than 30 minutes to reach London Bridge.

North Wembley station runs on the Bakerloo Underground line and offers Overground services alongside Stonebridge Park station to the south of the area.

Now read: Our Wembley area guide

7. Harrow & Kenton

Harrow
and Kenton
offer first-time buyers a range of early 20^th century houses and conversions, as well as plenty of Victorian and Edwardian terraced homes on leafy streets.

The area is a great option for first-time buyers looking to put down roots and is an ideal location for future family growth thanks to its excellent schools.

Although Harrow is in zone five, it offers excellent connections into central London, too.

Harrow property prices

Avg price	Avg flat price	Avg house price	Avg 10% deposit	Stamp duty
£472,833	£306,958	£671,833	£47,283	£8,641

Harrow rail connections

Underground services from Harrow-on-the-Hill arrive in Baker Street in just 30 minutes, while Metropolitan Line trains are also available from North Harrow, West Harrow, and Rayners Lane.

Kenton and South Kenton Underground trains go direct to the West End via the Bakerloo Line, with South Harrow offering trains on the Piccadilly Line.

Now read: Our Harrow area guide

8. Bounds Green

Bounds Green is superbly located just north of Wood Green and popular Muswell Hill.

First-time buyers can find excellent value in the area, despite its proximity to more expensive North London hotspots.

Alexandra Park is one of London’s best open spaces and is within touching distance of Bounds Green, while transport links from the area into central London are excellent.