Hornchurch has been identified as the best place in the capital for first-time buyers
(Picture: Daniel Lynch)It is a long way from Shoreditch, Peckham or Bermondsey — both geographically and culturally — but sleepy Hornchurch on the fringes of Essex may well be about to have its property hotspot moment.
The east London suburb has been identified as currently the best place in the capital for first-time buyers to make an offer because of a combination of undervalued prices and strong growth potential, according to new research.
Online mortgage lender Proportunity used an algorithm to discover where homes are most undervalued.
It also looked at 150 other factors ranging from crime rates to local schools to unearth London’s “hidden gems”.
Hornchurch, 13 miles from London’s official geographical centre of Charing Cross and the third stop from the eastern end of the District Line, came out as the unlikely winner.
Until now, Hornchurch was best known for its current or former celebrity residents including ex-heavyweight boxing world champion Frank Bruno and singer Imogen Heap, below, novelist Jilly Cooper and Hot Fuzz actor Nick Frost.
Attractions include the Queen’s Theatre, where new residents can currently enjoy the Christmas panto Aladdin; Hornchurch Country Park and the Fairkytes Arts Centre.
The local football club are also holders of the FA Trophy competition for non-league clubs.
Property prices in Hornchurch, which has only been part of London since 1963, are well below the capital’s average with two-bedroom flats starting from about £250,000 and three-bedroom houses from about £375,000.
Six of the potential hotspot top 10 are in south London with East Sheen near Richmond next on the list, followed by Herne Hill near Brixton and Elmers End in Beckenham.
