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WHY BUY PROPERTY IN STREATHAM

Streatham is becoming an increasingly popular place to buy property in, with its green spaces, wide choice of homes and appealing property prices, reports Karen Tait. Here’s why you should invest in property in Streatham

Once known as the ‘West End of south London’, attracting wealthy Londoners who travelled here for the healing spa waters, Streatham has been on both the right and the wrong side of the tracks over the years. With several train stations in the area, tracks might be the right word but it is the A23 that earned it a bad name back in 2002 when the BBC branded it the ‘worst road in Britain’. While it is undeniably still a busy thoroughfare, it’s also a handy route out to Gatwick or the south coast. Indeed, despite not having a Tube station, the area is well connected with a good bus network and trains running from Streatham, Streatham Hill and Streatham Common – it’s just 20 minutes by train to central London.

‘Famous for its lengthy high street, Streatham’s popularity has fluctuated over the years,’ says Ewen Bunting of local estate agents James Pendleton. ‘Once the most popular shopping and entertainment destination in south London, the 1980s saw the area’s appeal dwindle despite large stocks of roomy period properties. Today Streatham’s fortunes have very much turned around, with buyers and tenants flooding in to make the most of a hidden gem.’

What makes Streatham property really special is its value for money, says Ewen: ‘People don’t believe it’s possible to live in a generous family home with a decent garden in London so Streatham often comes as a welcome surprise.

‘Streatham High Road and neighbouring Balham and Tooting are home to excellent shops, cafés, bars and restaurants,’ he adds, ‘and the redevelopment of the Streatham Hub makes this an ideal area in which to invest.’

The regeneration project incorporates a new Tesco supermarket and over 250 new homes, providing almost a thousand jobs during the construction phase and afterwards.

Property area guide: Streatham

The green open spaces of Streatham Common aids to the area’s appeal

Falling mainly within the SW16 postcode, but also more expensive SW2, Streatham has much to offer including green space and leisure opportunities – Streatham and Tooting Bec Commons, the Rookery, Hillside Gardens Park, Tooting Bec Lido, Streatham ice rink and pool (which makes up for the lack of spa waters today), and Wigmore Tennis Club – and a range of properties to suit most budgets. For families there are Edwardian and Victorian houses with gardens, while first-time buyers and young professionals have a choice of period and modern flats.

The area attracts a diverse ethnic mix too, giving it a lively cultural vibe, while popular local events such as the Streatham Food Festival add to its appeal.

‘Streatham has traditionally been an overspill for areas like Balham, Clapham and Brixton, however, recently we have seen many people migrating to the area,’ says Rohan Alleyne of KFH. ‘The area offers a mix of 1930s, Edwardian and Victorian properties. There tends to be very few purpose-built ex-local authority flats, as there was luckily very little damage to the area during World War Two.’

Property area guide: Streatham

A war memorial statue on Streatham Common

‘Streatham now appeals to anyone looking to move south of the river, and Streatham Park, an exciting new development, is helping put the area on the map,’ comments Robin Chatwin of Savills. ‘The area has seen prices grow by nearly 20% over the past 12 months but it still looks incredible value. 2014 could see similar price growth to last year. Great location, good transport connections to Victoria, excellent schools, both state and private – it’s a brilliant option for those who can’t afford the more established surrounding areas, such as Balham.’

The Telford Park area is particularly popular, says Alleyne, including ‘Telford Avenue, Sternhold Avenue and Killieser Avenue, where a two-bedroom rental flat will cost £1,500-£1,700pm and a four-bedroom family house in the region of £2,800pm. There are also roads located in the popular ‘ABC’ area, which include Amesbury Avenue, Barcombe Avenue and Cricklade Avenue and are highly sought after among young professionals and families.’

 

TYPICAL PRICES:
Studios can be found from around
£145,000
while large family homes close to the common can command up to
£2m

TYPICAL RENTS:
From studios at
£150pw
to substantial houses for
£8,000pw

WHO BUYS & RENTS HERE:
A cultural mix including first-time buyers, young professionals and families

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