The Resident asked the experts where to invest a million to get the best value for money on the London property market

1 Central London’s undiscovered gems
Living in the heart of London with its fabulous shops and some of the world’s most beautiful parks is not necessarily out of reach. ‘Kensington and its borders of Earls Court and Gloucester Road is such a fabulous place to live if you want a combination of village spirit with city flair,’ says Chloe Leefe, Associate Director Sales, at Mountgrange Heritage. ‘It is still possible to find a two bedroom flat close to Tube connections for under £1m. Although it’s in the heart of London this area boasts several village enclaves with tight knit communities and local independent shops.’

There are still many of central's undiscovered gems hiding in London

There are still many of central’s undiscovered gems hiding in London

On the other side of town Bayswater is making ripples too, as Paul Hyman, Sales Manager at Bayswater KFH explains: ‘Bayswater is one of the last pieces of Central London’s regeneration puzzle and the £1bn redevelopment of Whiteley’s shopping mall into a retail, residential and leisure facility will transform the area from a Central London backwater to a Prime Central destination, so my money’s on here for a healthy investment. Transport options are already excellent with the Circle and Central Tubes, and with Paddington nearby Liverpool Street will be just ten minutes away and Canary Wharf just 17 when Crossrail arrives. The average sold prices in the area have risen 11.4% over the last year to £1,047,034, eclipsing that of its neighbours Notting Hill (10.8%) and Marylebone (1.5%).’

2 Established areas
A stylish address really does count so consider established enclaves with great transport links and long-term growth. ‘If you’re looking to stay put in an area for a while choosing an established location is key,’ says Philip Pike, Manager at Faron Sutaria South Kensington. ‘Upmarket Chiswick is often overlooked, but it has lots to offer with a wide choice of property in the £1m price bracket including riverside homes. Its village atmosphere, shops, restaurants and easy access to the M4 and Tube stations for easy commuting make it popular with families and young professionals.’

A stylish address like Maida Vale really does count when it comes to investing your money in property

A stylish address like Maida Vale really does count when it comes to investing your money in property

Victoria is another already established area that’s worth looking at too. It’s currently being heavily redeveloped with a string of new build apartments that could be great buys. ‘You’re likely to find a flat around the £1million mark in one of the great new developments in Victoria, such as a studio or one bed in Nova, Kings Gate or The View on Palace Street,’ says Matthew Morton-Smith, Associate Director at Westminster Savills. ‘There are also period apartments converted from large, grand homes, which retain a generous square footage. These are exclusive addresses with London at your fingertips through the excellent connectivity of Victoria. The expected five year price growth for Central London is 21%.’

3 South London
With Tube and rail connections becoming better year by year, moving south of the river is becoming ever more popular and offers good value. ‘Battersea has been put on the map following the regeneration around the Power Station, but there are some overlooked pockets that offer great value for money,’ reveals Charlie Mitchell, Sales Manager at Douglas & Gordon Battersea Park. ‘Houses around the Diamond Conservation Area offer a prime investment opportunity and you can get a lovely three bedroom cottage for between £950,000 to £1m. With the new Tube station set to improve transport links significantly, now is a great time to buy in Battersea.’

Property in SE1 is also being increasingly seen as a good long-term investment. ‘Borough Market and London Bridge have become a highly coveted micro-location where the financial and media industries crossover with the sought-after lifestyle on offer in and around Bermondsey Street and the cultural attractions of the South Bank,’ says Zoe Mercer, Residential Development Manager at Jackson-Stops & Staff. ‘You would be looking to spend between £600k and £1 million for a one bedroom flat here. Developments such as Crest Nicholson’s Valentine Place are a good example of high standard new-builds. Prices are on the up, but the area still offers relative value for money; cross the river to the north and prices can be 100% more, at over £2,000 per sq ft.’

The redevelopment of the iconic BBC Television Centre offers absolutely everything for potential owners

The redevelopment of the iconic BBC Television Centre offers absolutely everything for potential owners

4 Emerging areas
Wherever you look, London is reinventing itself so all the more reason to break with the past and head for a new hotspot. ‘I’d be looking at the future growth potential for properties in the White City area as it’s just at the beginning of its transformation,’ reveals Mark Dorman, Head of London Residential Development & Investment at Strutt & Parker. ‘The redevelopment of the iconic BBC Television Centre lies at its heart offering absolutely everything for potential owners, tenants and investors from world-class shopping to green spaces and affluent surrounding areas.’

Moving East, James Hyman, Head of Residential Agency at Cluttons, is tipping often overlooked Wapping. ‘This is definitely an area to watch as it’s attracting a new crowd with the Chiltern Firehouse executive chef, Nuno Mendes, hoping to open his Viajante restaurant there. There are a good number of riverside properties, often warehouse conversions such as Capstan Court, priced at around £1million.’

Finally, for those willing to take a punt on a completely new area, Nine Elms offers many new opportunities. ‘Some of the world’s most renowned architects are creating iconic buildings here, so it’s worth taking a look,’ says Rupert Dawes, Head of New Homes at Knight Frank. ‘There’s a fantastic choice of homes around the £1m price including two bedroom apartments in Mount Anvil’s FABRICA Keybridge Tower. Two new Northern Line stations will also be opening and the mainline station with links to SW London and beyond will be completely renovated. Average house prices in Vauxhall have risen by 69% since the beginning of 2010, outperforming Prime Central London by 24%.’

Merchant Court, Wapping, Cluttons

Check out Merchant Court in Wapping