New Cross’ Housing Market and Transport links

With a wealth of transport links and a rich cultural heritage, New Cross is the perfect place to buy a property that you can let to tenants. In this blog post, we’ll take a closer look at the housing market in New Cross and explore the key factors you need to consider when making your next buy-to-let investment.

The Volume of Residential Properties

Overall, there is a good volume of properties available, with plenty of 1, 2, and 3 bedroom flats and houses to choose from. Compared to the average in London, New Cross has a higher number of 1 and 2 bedroom properties, making it an ideal location for those looking to invest in smaller properties. It’s important to consider the type and number of bedrooms in a property because this will have a big impact on its rental potential.

Renter vs Owner-Occupier

In New Cross, there is a high proportion of properties available for rent, with approximately 60% of properties being occupied by tenants. This is higher than the average in London, making New Cross a popular area for renters. Understanding the renting v occupier rate is important because it will give you an idea of the type of tenants you’ll be attracting, and what kind of rental income you can expect.

Average House Price

The average house price for a 1 bedroom house in New Cross is around £300,000, while a 2 bedroom house is around £450,000, and a 3 bedroom house is around £600,000. These prices compare favourably to the average in London, where 1 bedroom houses are around £500,000, 2 bedroom houses are around £700,000, and 3 bedroom houses are around £950,000.

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Age of Housing Stock

The age of the housing stock in New Cross is also an important consideration when choosing a buy-to-let location. While there are plenty of older properties available, you’ll also find a growing number of new build properties in the area. In recent years, there has been a big focus on major housing development projects in New Cross, with several new builds being completed in recent years. Some of the major projects include the New Cross Gate Development and the New Cross Residences, which are both excellent examples of the high-quality new build properties available in New Cross. To find out more about major housing developments in New Cross, visit the London Borough of Lewisham website.

Transport Links

The main form of public transportation in New Cross is the train. New Cross Station, located in the heart of the neighbourhood, provides regular services to central London and other parts of the city, including the London Bridge, Canada Water, and Greenwich. There is also a direct service to London Gatwick Airport, making it an ideal location for those travelling by air.

For those who prefer to use the bus, there are several bus routes serving New Cross and the surrounding areas. These include the 53, 177, 453, and the P12, all of which provide links to central London and other destinations.

For cyclists, there are several dedicated cycle routes in the area, including the Quietway 1, which runs from New Cross to Greenwich. This route offers a safe and scenic alternative to cycling on the busy roads of London.

In conclusion, New Cross is a vibrant area in South East London, known for its arts and music scenes, with a good volume of residential properties available in different sizes and styles. The area offers affordable average house prices, with a high proportion of properties available for rent, making it a popular location for buy-to-let investments. New Cross also offers a variety of transportation options including trains, buses, cycling routes, and car parks.

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