Right now, London is a hub of investment, cranes and building work. And, while much of that work is on offices and commercial property in the city centre, there is also hard work afoot in the north London suburb of Enfield.
London Mayor Sadiq Kahn gained his new office largely because of his desire and plans to create more affordable housing for Londoners who choose to rent or buy. Part of those hopes are already in motion with the residential development in Enfield called Meridian Water, which lies just north of London’s N18 postcode.
Yes, Enfield is further out from the centre than some of its more well-known neighbours such as Hackney, Islington and Highgate. But, investment and regeneration means it will become a new address for 10,000 new homes. There are also plans for a faster rail-link into London, complete with a new station,
Work on the foundations of the first 725 new homes in Meridian Water has already begun with people expected to able to begin moving in some time in 2018. But the development is much more ambitious than that with a further 9,250 homes planned and a new train station which will allow commuters to reach the City of London in a mere 25 minutes.
It’s no secret that demand for London properties is hot. The latest house price index from the Office for National Statistics show London house prices were £470,025 in April this year, 14.5% higher than a year earlier. The average house price across the whole of the UK, meanwhile, was £209,054, an 8.2% gain from April 2015.
With London house prices more than double the national average, for some the construction of thousands of new homes in a North London borough still might not be enough to fill them with joy. Prices will still be high and the commute into London will still likely be crowded. Yes, both of those things are true. But for some, Meridian Water will make the dream of owning a London home a reality while for others the ability to rent will also be realised.
And that’s not all Enfield has to offer. Aside from the shorter commute once the station is up and running in a year-or-two, there’s also the countryside to the north of Enfield to consider, Hertfordshire. Easy access to the green acres of a different county are not to be sniffed at and are sure to entice home-owners and investors alike.
There’s also a lot on hand for those who prefer to getaway to another country. Stanstead airport is a 40-minute drive or, if you prefer getting the train there are a number of options: take the train to Tottenham Hale and hop aboard the Stanstead Express or head up to Enfield Lock for a 28-minute train journey to fly out for some fun abroad.
For many, Enfield is a new London region to consider. But, new or not, it’s definitely worth further investigation, both for the lifestyle it will soon be able to offer and the returns.