The Royal Borough of Greenwich is an interesting part of London. It is famous across the world for being the home of the Prime Meridian, which is the line of longitude that divides the globe in half from east to west.
However, despite this fame the area is still, to a large extent, a hidden gem. When people are house hunting it is far from the first place that leaps to mind. As a result, there are some great deals to be had in the area.
The average price for a flat is around £427, 000, and for terraced properties prices are around £700,000. Semi-detached properties cost around £1.2m. If you were to buy similar properties in nearby boroughs, you can expect to pay between 20 and 25% more, so Greenwich properties represent great value for money right now.
Beautiful waterfront properties
The entire Greenwich peninsula is being developed, which means that if you are looking for a waterfront property this borough is a great choice. There are plans for several new waterside developments.
A village community and green spaces
However, the waterfront is not for everyone, some people prefer to live in a quiet community away from the crowds and Greenwich has plenty of those kinds of properties. There are some great squares and the chance to buy homes overlooking green spaces like Greenwich Park rather than near the water. There are fifty parks and open spaces spread throughout the Royal Borough of Greenwich including several nature reserves. In addition, residents can access the Green Chain in the borough and walk all the way to Crystal Place without leaving green space. This means that there is plenty housing available overlooking or close to green spaces in Greenwich.
An easy commute
Greenwich is just a 30-minute commute from the city of London. Interestingly, that is by car, bus, tube, DLR and, surprisingly, by bike. Using the Greenwich foot tunnel you can get to the city in just 30 minutes. In addition, the area is virtually on the doorstep of City Airport.
Development plans for Greenwich
When the Olympics took place the whole area got a huge cash injection, but the development of the area is far from over. The London Development Plan has earmarked the area for further regeneration over the next 25 years. . It is one of the biggest regeneration projects in Europe.
Currently, there are plans to build a further 10,000 to 15,500 homes in the area. A high percentage of these new homes will be at the luxury end of the market, which is bound to make the area even more sought after and means that property prices are set to rise.
If you are interested in the area, you have to move fast. Greenwich estate agents have seen interest really take off. The area underwent something of a makeover for the Olympics and that generated a lot of interest in the area, which is still growing so if you want a bargain you will have to start your property search soon.