Goodmayes is up to 21% cheaper than commuter counterparts, and offers investment potential.
[Image credit: Fairview New Homes]
The suburb of Goodmayes, a leafy neighbourhood in Ilford east London, has been quietly gaining in popularity with first-time buyers and investors drawn to its affordability compared to Zone 4 commuter counterparts, being up to 21% cheaper than Bromley, Walthamstow and Ealing, while still within 21-minutes of the city.(1)
One Goodmayes, one of the first new developments in the area by Fairview New Homes and priced from just £250,000, has seen strong interest from the Home Counties and East London spots where prices are now unattainable.
Compared to other commuter spots such as Stratford, which are marginally closer to Central London, buyers in Goodmayes can expect to save up to £15,000 on their house price for every minute they travel further out of Liverpool Street station – a considerable saving, for what is a very convenient commute.(2)
Ryan Jolliffe, Associate Client Manager for New Homes and Investments at Foxton’s, says: “We have found that, while many potential buyers and investors are unaware of Goodmayes when they first approach us, its connections to London sell it very quickly. Our buyers from Bow, Stratford, and Walthamstow are certainly drawn to Goodmayes by the value for money that comes without a huge compromise on the daily commute.”
Historically part of Essex, Goodmayes was incorporated into Greater London in 1965 and is now a firm contender for first-time buyer commuters who want easy access to the city thanks to two Elizabeth line connections from Seven Kings and Goodmayes. While the city feels within touching distance, locals enjoy all the benefits of suburban life, with seven public parks and gardens, totalling 297 acres, including Valentines Park which is set to welcome a brand-new public lido.(3)
For investors seeking new opportunities, the growing popularity of east London and fast journey times along the Elizabeth Line have resulted in strong rental yields of up to 6.72%, with rents forecast to grow by 20.7% in 2028.(4)
Jolliffe adds: “The ripples from the launch of the Elizabeth Line are still at play, and the area presents a great investment opportunity with sustainable rental yields. As a result, we are also seeing a large volume of interest in Goodmayes coming from investors who start their search, or have previously invested, in the Canary Wharf area.”
Homes at One Goodmayes, by Fairview New Homes, are available to purchase immediately and offer one of the earliest opportunities to be a part of this growing community, as a further 1,280 new homes have been approved by Redbridge Council. The area, while already home to a well-stocked high street, will also welcome a new large food retail store and a new primary school for 630 pupils, as well as new community facilities including a community hall and improvements to Barley Lane Recreation Ground by 2030.(5)
Buyers at One Goodmayes have access to their own private 15th floor roof terrace, offering panoramic views of the London skyline, while a number of homes with north-west facing balconies will also benefit from the same incredible views of the city.
-Ends-
Notes to editors:
- (1) Data from DataLoft, Fairview New Homes
- (2) Data from Land Registry: One Goodmayes offers savings of up to £15k per minute of additional travel time into Liverpool Street station
- (3) London Borough of Redbridge, Valentines Lido
- (4) Data from Fairview, JLL, Savills & Knight Frank
- (5) Redbridge Council
For further press information, please contact:
Yasmine Triana | Arabella Halfhide | Dylan Smart | Olivia Hazelden-Kingdon
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About Fairview New Homes
Fairview New Homes has built homes in and around London for over 60 years. Known for its ability to build good value homes in undiscovered spots of London, Fairview benefits from utilising its own contractors to keep costs down and guarantee a more reliable turnaround from reservation to picking up the keys.
Fairview prides itself on helping first-time buyers get on the property ladder and builds affordable homes which are perfect for those looking to take their first step into home ownership. The Save to Buy scheme is just the latest way it’s helping first-time buyers.
For information on Fairview New Homes, visit: www.fairview.co.uk
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