In terms of ‘where next?’, south east London is seeing a significant revival – we see increasing infrastructure investment, not only in public transport, but also road networks, and community space.
Areas such as Peckham, Deptford, and Lewisham have seen huge inward investment in the last 5 to 10 years, which have result in increased housing starts and inward population movement as buyers seek value and convenience across the capital.
With close proximity to the green areas of Greenwich and Blackheath as well as the River Thames, south east London is see as a robust location to invest in, where capital values have not yet reached the level seen in similar areas of south west London, such as Clapham, Wandsworth, and Wimbledon.
Focusing on Greenwich and its surrounds, the area is seeing one of the largest pieces of urban regeneration in Europe on the Greenwich peninsula, with over 15,000 new homes planned on a 300-acre site.
Building has already commenced with developments such as Greenwich Millennium Village now complete, and residents being connected to the West End of London in only 20 minutes, Canary Wharf in less than 5 minutes, and Westfield Stratford in 10 minutes, all via the Jubilee Tube line.
By the end of 2016, the Jubilee line will also be running 24 hours per day, 7 days per week, a first for London.
The peninsula itself is also home to the O2 Arena, one of the UK’s largest entertainment complexes, hosting regular arena events and housing a huge complex of restaurants, bars, and cinemas.
Aside from the new Greenwich is also one of London’s most historic boroughs, with the Royal Observatory providing spectacular, panoramic views across London, the Maritime Museum and Royal Naval College showcasing London’s naval heritage. The recently refurbished Greenwich market and Cutty Sark ship attracts visitors from around the world.
This is in addition for some of the finest green space in Central London, right on your doorstep.
In terms of property, Greenwich Centre is considered to be prime real estate, with its historic townhouses and cottages.
However, walking west out of Greenwich along the Trafalgar Road and parallel to the River Thames, you reach the areas Maze Hill and Westcombe Park, which lie on the northern elevation of Greenwich, and are packed with tree lined streets and low rise houses, many of which remain family homes and others of which have been converted into apartments.
Both areas are well served by the SouthEastern railway, reaching London Bridge in under 15 minutes, and also stopping at London Charing Cross from end of summer 2016.
Train services will also be improving post summer 2018 when the London Bridge station refurbishment is completed, with regular services to the City and West End.
Both Maze Hill and Westcombe Park are within walking distance of the River Thames and Blackheath, providing residents with an escape from the hustle of city life. The area is well served with historic pubs, restaurants, and independent shops, whilst also being a short distance from larger supermarkets.
Over the last few years the gentrification has become clear, with shops along the Trafalgar Road converting from various takeaways to artisan cafes, vintage clothing stores, mobile phone shops, and even a boutique wine shop which holds regular tastings!
Schooling in the area is also well provided for, with a number of popular primary schools and high achieving secondary schools in the locality. A new doctor’s surgery and leisure centre and complex opened in 2015, providing a new library and sports complex, including swimming pools.
This area is popular not only with young families but also professional couples looking to enjoy a more relaxed pace of life while remaining in the city. Young professionals also enjoy the benefit of a good work-life balance, with excellent transport links to the City.
Additionally, the proximity of the Queen Elizabeth II hospital makes Greenwich a popular location for medical and other public services workers.
These areas are unquestionably growing in popularity, and still provide value when compared to similar areas in south west and north London. With prices still below £1000 per square foot (Q4 2016), Greenwich and surrounds provide attractive options for investors looking to attain a slice of the capital’s ongoing growth.