Earlier generations flocked to Clapham and made Hoxton hip. When today’s Millennials move house they pack up their pot plants and their faux-Eames chairs and make a beeline for the eastern and south-eastern fringes of the capital, creating a new swathe of affordable property hotspots on the borders of London and the home counties.

Exclusive research by Savills has analysed the moving patterns of 31 to 40-year-olds over the past four years. Their top three boroughs are Havering, Bexley and Bromley, with this far-flung trio jointly responsible for half of all moves within this age group.

When Mark Doonan started house hunting last year he was drawn to the village-style vibes of Bromley, birthplace of David Bowie and home town of tennis star Emma Raducanu.

And its affordable prices – by London standards – meant he and his partner David Mason could manage to invest in a house with a garden, rather than a flat.

In June 2020, the couple left their apartment in Hither Green and became the proud owners of a £460,000 two-bedroom terrace house, a few minutes’ walk from Bromley town centre where they can shop, eat, or hang out on the terrace of The Artful Duke pub on sunny days.

‘We can just stroll down into town in four or five minutes, and there are loads of nice pubs and restaurants, but our street is so quiet and calm,’ says Mark, 37, who works in public relations.

Bromley is four miles south of Hither Green so the couple’s commute to work is a little longer than they were used to. Mark is based in Soho, while David, 50, is a designer based in Covent Garden – but they can still be in the West End in around an hour, door to door. Russell Sinclair, a director of Sinclair Hammelton estate agents, has been selling property in Bromley since 2001 and says that the changes the area has undergone in that period have been massive as younger buyers flock in.

‘It used to be very suburban, white middle-class and now it is much more diverse, which is really good,’ says Russell.

‘Even though people think Bromley is in Kent and too far away, you can actually get to London Victoria in less than 20 minutes.’

To look for signs of the new Millennial-friendly Bromley, steer clear of the chain store-dominated high street and look at the local villages that are emerging, from the new cafés and smart greengrocer near to Sundridge Park, to Chatterton Road with its bakery and pizza joint.

The housing stock is mostly period, from Victorian to 1930s, and you could still pick up a two-bedroom apartment for £375,000 to £400,000 or a three-bedroom house for £550,000 to £600,000.

For a more grown-up vibe, you could opt for Chislehurst, three miles east of Bromley, which parents love for its family-friendly feel.

With immaculate timing, Bukola Rominiyi, 37, moved to Chislehurst with her five-year-old son in 2019. This meant that rather than spending lockdown trying to entertain a youngster in a flat, she had a three-bedroom house with a garden, and plenty of parks and open spaces on the doorstep. The green space around Chislehurst was one of the aspects that attracted Bukola – a podcaster (staycoupled.com) and psychotherapy student – to the area in the first place, along with its great schools.

Living in Chislehurst has been everything Bukola hoped for. Her son loves visiting the local duck pond on Chislehurst Common, and the smart little high street has a good range of shops, independent cafés, and restaurants. Bukola is getting to know her friendly neighbours and other local mums.

‘It feels like a decent community,’ she says. ‘People are friendly and have made us feel welcome.’

Traditionally Bromley, Bexley and Havering have been London’s cheapest boroughs, but all have enjoyed strong price growth over the last couple of years. In Havering prices jumped an impressive 14 per cent. An average flat in the borough now costs just over £255,000, and an average house almost £498,000.

Bromley’s prices have risen 13 per cent in the past two years, with flats now selling for an average £345,000, and houses for £658,000.

Bexley is the most affordable of the three options, despite prices rising 11 per cent in the last two years. Buyers could pick up an average flat for just under £250,000, and a house for just under £459,000. For buyers seeking flexible transport links and plenty to do on the doorstep, Hornchurch, in Havering, would be a great choice.

Three Tube stations serve the Havering area, offering District line links into the city, while Gidea Park’s Elizabeth Line services are just to the north. Overground trains from Upminster to Fenchurch Street take a speedy 23 minutes.

Havering passes the green space test, too, with lovely Harrow Lodge Park leading on to a network of nature reserves, and the high street is stuffed full of chain and independent bars and restaurants. And property prices are appealing, with flats selling for an average £250,000 and houses for £492,000 according to Savills.

Bexleyheath, in the south-east London borough of Bexley, is also seeing buyer traction thanks to its affordability, great schools and transport links.

The average price of a flat in the town stands at £245,000, while houses trade for an average £479,000. Trains to Victoria or Cannon Street take around 30 to 40 minutes. Local schools include two Ofsted-outstanding grammar schools, making Bexleyheath catnip for ambitious young parents.

Source: Read Full Article