Why first-time buyers are flocking to historic Greenwich in south-east London

Why first-time buyers should look to Greenwich, London Picture: METROGRAB
From posh Georgian pads to swish riverside new builds, Greenwich has lots of options (Picture: Metro.co.uk/ Alamy)

As home to Maritime Greenwich — one of only four UNESCO World Heritage sites in London, consisting of the old town centre, Royal Park and assortment of historically significant buildings — Greenwich has a head start over most other areas.

But its appeal doesn’t stop there. It hugs the Thames, has a brilliant market, eclectic shops and bars, museums and galleries and tons of open space where kids and dogs can let off steam.

Schools are good, the commute is quick and in 2017 it was crowned the capital’s friendliest place to live — and there’s no reason to suggest that’s changed.

Ever since Inigo Jones was commissioned to design Queen’s House in 1616, Greenwich’s striking and elegant architecture has been a talking point.

‘West Greenwich is the most expensive part, with lovely, mainly Georgian and Victorian, period homes, and Crooms Hill is widely regarded as the best road,’ says Guy Epps of Winkworth estate agents.

‘There’s been a shortage in supply of larger period houses coming to the market, which could be down to people deciding to stay put while there is a degree of uncertainty with the pandemic and the end of furlough.

Elsewhere, areas such as Greenwich Peninsula attract different buyers, mainly younger and wanting to live in contemporary flats rather than houses, and it tends to be cheaper than West Greenwich.’

Greenwich, London
Greeenwich is known for its elegant period buildings (Picture: Alamy Stock Photo)

What’s on offer in Greenwich?

Greenwich Peninsula is Europe’s largest regeneration scheme, where 15,000 new homes are being created alongside shops, restaurants and other amenities.

Studio, one, two and three-bed apartments are available at Upper Riverside, a neighbourhood boasting five prism-shaped towers with facilities including a gym, pool, sauna, cinema room and sun terraces, from £487,500.

67 Park Central, the latest phase at Greenwich Millennium Village, consists of 115 one to three-bed apartments, all with private outdoor space and many overlooking parkland or the Thames, from £447,495.

Greenwich Millennium Village
Greenwich Millennium Village offers 115 one to three bed apartments

London Square Greenwich has 46 one, two and three-bed apartments in a striking Modernist-style building. Each has a balcony or terrace and space to WFH, from £520,000.

One, two and three-bedroom apartments are on offer at The Courtyard at Greenwich Square, with either a balcony or terrace and set around a landscaped garden square. They start from £450,000, via Savills.

The River Gardens
Or there’s The River Gardens, with Help To Buy homes available

And L&Q has unveiled one and two-bed shared ownership apartments at the development, from £101,250 for a 25% share of £405,000. Reserve a one-bed by July 31 to get a bespoke interior design package.

More than half the homes in Maritime Apartments, the second and final phase of Bellway London’s The River Gardens, have now sold and the remaining one, two and three-beds start from £485,000, with London Help to Buy’s available.

And Hamptons is marketing two and three-bed modern townhouses at Hyde Vale, in the heart of West Greenwich which blend in with the surrounding period architecture, from £825,000.

What can I afford on the property ladder in Greenwich?

£375,000

First rung: Cosy maisonette in a great location
First rung: Cosy maisonette in a great location

This very central one-bed first and second floor conversion has a sunny living room, separate kitchen and useful office space in the attic.

Find out more here

£800,000

A step up: Spacious family home packed into a small plot
A step up: Spacious family home packed into a small plot

An extended and renovated, Tardis-like Victorian terrace in the catchment of Halstow Primary school. Has four beds and open-plan kitchen/diner.

Find out more here

£3.25million

Top rung: Georgian luxury on the edge of Greenwich Park
Top rung: Georgian luxury on the edge of Greenwich Park

Located on desirable Crooms Hill, this Grade II-listed six-bed Georgian house has large rooms, high ceilings, original features and views of Greenwich Park.

Find out more here

Everything you need to know about Greenwich before you buy in the area

Average house price: £616,465

Average rent: £1,723pcm

Council tax (Band D): £1,640

Commuting time to Zone 1: 8 mins to London Bridge by train from Greenwich or Tube from North Greenwich station

Annual Travelcard: £1,480

Amenities: ★★★★★ Indie boutiques, delis, restaurants and bars; character-packed pubs; designer/makers and foodie delights at Greenwich Market; Royal Observatory; Old Royal Naval College; National Maritime Museum; Cutty Sark; the Queen’s House; O2 Arena; three cinemas; comedy festival at the National Maritime Museum in mid-September; Design District opens at Greenwich Peninsula in September

Open space: ★★★★☆ Greenwich Park; Greenwich Peninsula Ecology Park; East Greenwich Pleasaunce Park

Schools: ★★★★☆ Above average GCSE results

Crime: Below average

Who lives there? West Greenwich attracts families while first-time buyers flock to North Greenwich.

Schools, crime and house price data supplied by Zoopla.co.uk

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Get in touch by emailing MetroLifestyleTeam@Metro.co.uk.

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source https://metro.co.uk/2021/07/20/why-first-time-buyers-are-flocking-to-historic-greenwich-london-14955460/
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