Over the next nine months, London will witness the establishment of a new transport network called the Superloop, which will connect the outer boroughs and create an orbital bus link encircling the capital. This initiative aims to improve public transportation access for neighborhoods that are currently underserved, providing new routes for commuting and making travel to Heathrow airport more convenient. Furthermore, the Superloop is predicted to boost house prices in affordable areas along its network, similar to the impact of the Overground on Zone 2. Currently, average prices on the Superloop network are 20% lower than the London average. The Superloop’s first services commenced last month, with the full loop expected to be operational by spring 2024. While the impact on rush hour traffic remains uncertain, it has the potential to greatly benefit commuters. Two areas that are likely to experience significant advantages from the Superloop are Grove Park in southeast London and North Finchley in north London. Grove Park offers green spaces, good schools, and a friendly community, but lacks extensive amenities. However, it has attracted buyers seeking better value homes. Currently, a two-bedroom flat in Grove Park costs between £325,000 and £425,000, while a three-bedroom house ranges from £500,000 to £600,000. North Finchley, on the other hand, is an attractive suburb with a vibrant town center and excellent amenities. The area is particularly popular with families due to its good schools and convenient transportation via the Northern line. The typical cost of a two-bedroom flat in North Finchley is estimated to be between £400,000 and £450,000, while a three-bedroom house is priced at £800,000 to £850,000. Bexleyheath, a southeast London location close to the borders of London and Kent, has seen relatively low house prices due to the absence of a city center train station. However, the area has a bustling town center with various recreational facilities and dining options. The nearest station to Bexleyheath is Barnehurst, located roughly two miles away, which offers services to Cannon Street. With the Superloop, Bexleyheath will gain additional transportation options, including connections to Sidcup and Abbey Wood. The average price of a two-bedroom apartment in Bexleyheath is around £275,000, while three-bedroom houses sell for approximately £475,000. Despite a slight decrease over the past year, prices have risen by 21% since 2019, attracting first-time buyers seeking more affordability and amenities compared to East or Central London.
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uring the next nine months, London’s newest transport network will connect the outer boroughs, creating an orbital bus link that will encircle the capital.
The Superloop will shed a new light on neighbourhoods, many of which are currently poorly served by public transport, connecting them to nearby stations, creating new routes to work and making commuting to Heathrow airport easier.
According to research by the Hamptons real estate agency, it will also boost house prices in some of London’s most affordable areas, giving suburbs a taste of the ‘Overground effect’. Average prices on the Superloop network are currently a fifth below the London average, at £539,000.
The Superloop is a new bus link that will benefit suburban neighborhoods
/ TFL“Superloop will eventually offer Zones 4 through 6 what Overground has offered Zone 2 for the last decade, directly linking the cheapest parts of the capital that are least served by public transportation,” says David Fell, Hamptons principal analyst. .
“The new links could have the same transformative effect in outer zones that Overground has had in large portions of Zone 2. In north London, it will connect places near the end of tube lines that are geographically close but currently not They are connected. by public transport directly. In south London it will extend the reach of the tram, which already links the big cities, and increase the capacity of existing express bus services.
The first Superloop services started last month and the full loop will be operational by spring 2024. How it will hold up to London rush hour traffic remains to be seen, but if the loop proves to be a hit with commuters, here are a few. of the areas. you are likely to benefit more.
grove park
Even people who have lived in London all their lives and consider themselves experts on the city can have a hard time locating Grove Park on the map. But this south-east London backwater (between Lewisham and Bromley) is starting to gain ground with buyers from New Cross and Hither Green looking further along the rail lines for better value.
The area has most of the things a young family needs: green space, good schools, and a friendly community. What it doesn’t have, so far, is much of a main street. There’s a cluster of basic shops around the station, but it’s not the kind of place where you’ll find hip cafes or pop-up galleries.
“It’s the kind of place you’d only know if you came from here,” says Jaydene Malyszczuk, sales manager at Dexters real estate agency. “It’s like a little pocket, a hidden gem.”
Neighborhoods like Grove Park are starting to catch the eye of buyers looking for better-value homes.
/ juliet murphyA two-bedroom flat in Grove Park would cost between £325,000 and £425,000, while a three-bedroom house would cost between £500,000 and £600,000. Malyszczuk says that prices have held firm for the past 12 months due to incoming demand. And according to Hamptons research, prices are up 14% since 2019.
Reasons for moving to Grove Park include its proximity to the elementary schools in Chislehurst. Eltham College, in Mottingham, is popular with fee-paying parents.
Commuter links are also good. Grove Park to Cannon Street takes from 35 minutes. What the Superloop will add is a direct bus link to Canary Wharf, six miles away.
north finchley
Rising house prices have pushed buyers further down the Tube lines in search of good value for money, and in North London, buyers in Zones 2 and 3 are discovering this stylish suburb residential.
With its weekly market, arts center and excellent range of shops, restaurants and cafes, North Finchley ticks a lot of boxes. It is convenient, suburban and safe, with very good schools, Northern line services (from Woodside Park station) and long country walks through Whetstone Stray to Barnet.
Julia Alexander moved to North Finchley 10 years ago, having previously lived in East Finchley. By trading Zone 3 for Zone 4, she was able to afford a single-family home that she shares with her husband and her two children, now ages 11 and 13.
“What I really like about North Finchley is how practical it is,” he says. “It has everything you need, and you can walk everywhere.”
Julia Alexander has lived in North Finchley for 10 years and praises the convenience of the area, as well as the increase in cafes and restaurants.
/ juliet murphyThe area is perfect for families due to its good schools and local amenities such as a Vue cinema. But initially Alexander, an interior designer (juliaalexander.es), I was disappointed in the choice of cafes and restaurants compared to East Finchley and Muswell Hill.
“However, that is starting to improve,” she says. “There’s a new place called Golden Bite, which is run by two very young sisters. It doesn’t look like much, but the food is Mediterranean-inspired and truly made from the heart. The kids love the pancakes at Cafe Delight, and there’s a new pizzeria, La Mia, which is also really, really good. It’s definitely getting better.”
Yasser Elkaffass, managing director of estate agency Adam Hayes, estimates that a typical two-bedroom flat in North Finchley would cost between £400,000 and £450,000, while a three-bedroom house would cost between £800,000 and £850,000.
Prices have risen 11 percent since 2019, though over the past year, Elkaffass says, rising mortgage rates and the cost-of-living crisis have dragged down the sale price of flats by about 10 percent, and houses six or seven percent.
“It’s a very, very price sensitive market,” he says. “Properties are still being sold, but we find that those that do sell are realistically or competitively priced. First-time buyers are turning away unless it’s a really good deal, but we’re short on houses, so they’re selling pretty quickly.”
Elkaffass says shoppers come to North Finchley for its schools, thriving main street and open space. “It is a very cosmopolitan area and that is reflected in the variety of shops in the area”, he comments. The only downside you can think of is that most of the houses were built in the 1930s and 1940s, so fans of period architecture may have a hard time finding a house with character.
The Superloop will add to North Finchley’s transport options by connecting it to Arnos Grove (Piccadilly line) and Hendon (trains to St Pancras take 18 minutes).
But Elkaffass doubts it will bring a mass of Crossrail-style investing buyers to the area. “I don’t think an extra bus link will make it more attractive, I don’t think it’s a reason to move there, but it will be an extra reason to enjoy living there,” he says.
bexleyheath
The lack of a city-centre train station has kept prices enticingly low in this south-east London outpost, though shoppers seem to have taken notice of its charms.
Located right on the borders of London and Kent, Bexleyheath has vibes that are more market town than sleepy suburb, with its thriving town center complete with a clock tower and pedestrian mall. There is plenty to do here, with a theatre, cinema, five-a-side football center and the Crook Log leisure centre.
The north side of Bexleyheath Broadway also has a bevy of bars, clubs and restaurants, from cocktails and burgers at Zingara to Turkish meze at The M Kitchen. And for some peace and quiet, Danson Park is a lovely spot with its tennis courts, picnic lawns, and boating lake.
The bustling town center and clock tower of Bexleyheath
/ juliet murphyThe nearest station to Bexleyheath is at Barnehurst, almost two miles to the north, excellent for city workers with services to Cannon Street taking just over 20 minutes. The Superloop will add many more options by connecting it to Sidcup, with services to Charing Cross taking around half an hour, as well as Abbey Wood, with its Elizabeth line services to Canary Wharf, the City, the West End and Heathrow.
Marcus Page, a sales negotiator for Robinson Jackson estate agents, estimates that a typical two-bedroom apartment in Bexleyheath currently costs an average of £275,000, while three-bedroom houses sell for around £475,000. Prices have come down over the past year, but not dramatically. “They’re certainly down, maybe five percent, if that’s it,” Page says.
Most of their buyers are first timers renting in East or Central London and are drawn to the area for its relative affordability and amenities. Their interest has helped drive prices up an impressive 21 percent since 2019. “Besides the schools, there’s everything you need in the city center,” he says.
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