Value beyond the fringe: cheapest areas to rent on the Bakerloo line — with £15k savings to be had by moving just one stop

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Ruth Bloomfield16 August 2018

Maida Vale really comes into its own in summer as one of London’s loveliest places to live, with its wide, leafy streets, canalside pubs and easy walk to Regent’s Park.

It is also one of the capital’s more expensive Zone 2 options, according to new research from Rightmove into the cost of homes along the Bakerloo Tube line. A typical two-bedroom rental flat costs £2,217 a month while a three-bedroom house in this delightfully family-friendly area will set you back an average of almost £5,200 a month.

MOVE ONE STOP, SAVE £15K

Smart renters move a single stop along the line from Maida Vale W9 to Kilburn Park NW6, known to many estate agents as Maida Fringes and also in Zone 2. True, it is a bit grotty with Edgware Road running through it, but a two-bedroom flat here will cost just over £2,000 per month, which is a saving of well over £8,000 per year compared with living in Maida Vale. A three-bedroom house comes in at less than £3,900, making an annual saving of £15,660. That would go a long way towards saving up for a deposit on a home — or buying a once-in-a-lifetime holiday.

Kilburn Park has a historic reputation for crime and general unsavouriness but Anthony Wozniak, lettings director at Dexters, says that as the South Kilburn estate is regenerated the swathes of grim post-war social housing are gradually being replaced by new-build flats.

​Kilburn lies on the border of Westminster and Brent — Kilburn Park Road being the border between the two. Wozniak’s tip is to hunt for a home on the Westminster side where council tax is considerably lower. A period conversion will tend to be better value than a new-build flat but the latter is more likely to have a balcony and en suite bathroom.

Once in the area, says Wozniak, renters have everything they need on their doorstep, with shops and pubs in Kilburn High Road, with slightly more glamorous restaurants and cafés in Maida Vale and Queen’s Park.

“It is really well connected,” he adds. “If you jump on the Tube you can be in central London in 10 minutes.”

Another great renters’ option, Queen’s Park is just two stops on from Maida Vale station. A two-bedroom flat here rents for an average £1,826 a month and a three-bedroom house for £2,609.

Ben Sloane, lettings director at Aston Chase estate agents, says renters can typically look forward to Edwardian properties — many converted into flats — in quiet, tree-lined streets.

“It is a real neighbourhood, with coffee shops and the park itself,” he says. “There are plenty of places to go. The Alice House doubles up as a pub/bar. There’s a very good restaurant, Chez Bob, and Gail’s Bakery.

“It is a real family area. You do also get some young professionals who cannot necessarily afford Maida Vale and who want a real neighbourhood area rather than a city environment.”

SAVE IN ZONE 4 — OR SPLASH THE CASH IN PICCADILLY

The Bakerloo line runs south from Harrow in the suburbs of north London, through the West End and under the river to Elephant & Castle in SE1. Today’s Rightmove research finds that the cheapest option on the line is South Kenton in Zone 4, two stops short of the northern end of the line. This is where a two-bedroom flat will cost an average £1,273 a month and a three-bedroom house will be about £1,777 per month.

The sky is the limit when it comes to the section of the line that runs through the West End and under some of the most expensive real estate on the planet. The costliest of all is Piccadilly Circus, where the price of being overrun by tourists taking selfies is high. A two-bedroom flat costs an average £5,413 a month, and a three-bedroom house comes in at £10,000. For an urban buzz and better value, head to the current southern end of the line and Elephant & Castle, a Zone 1 address shedding its stigma, emerging from a multibillion-pound regeneration like a shiny steel-and-glass butterfly.

A typical two-bedroom Elephant & Castle flat rents for £2,214 a month, while a three-bedroom house would be far better value for sharers at £2,850 per month.

‘QUEEN’S PARK IS LAID-BACK AND SO FRIENDLY’

Dalton Butler arrived in Queen’s Park by necessity rather than design. However, he is thrilled that he made the move.

“I love the village vibe”: Dalton Butler rents a two-bedroom house in Queen’s Park with a friend, each paying £550 a month
Matt Writtle

Some three years ago he got a new job as a senior designer for online letting agent Upad. Dalton was living in Greenwich while his new office was in Queen’s Park. Within a month he had moved to north London, renting a two-bedroom house with a friend, each of them paying £550 a month in rent.

“It is a very friendly part of town,” says Dalton, 38. “We know our neighbours, the street is lovely with Victorian houses all painted different colours, it is very laid-back and not at all flashy. I know it is a cliché but it has got a very villagey feel.”

On sunny days all roads lead to Queen’s Park itself, a lovely open space with tennis courts, an outdoor gym, and facilities for kids including a petting zoo.

Salusbury Road is Queen’s Park’s high street, with plenty of bars, boutiques and cafés, as well as a couple of supermarkets. And Kilburn High Road is a 10-minute walk away.

But Dalton has discovered the quieter Lonsdale Road with its own range of restaurants and cafés. “On sunny days everyone spills out on to the street and it is just a real hidden gem,” he says.

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