Property: Forget the price escalator. Find a place that rockets

There is nothing like spotting an up-and-coming area before it arrives. Early defensiveness turns to quiet triumphalism as rising prices prove your point. In London, a few areas have seen particularly startling increases. Penny Jackson reports on areas that are now in the Premier League

Leading the field of the newly-fashionable is Notting Hill, in west London, which according to a review by Savills Research, has increased in popularity by 50 per cent within 10 years.

Startlingly, Wandsworth, in south-west London, is now regarded as prime, while among the new residential areas close to the City, Clerkenwell epitomises the successful trend for turning old industrial buildings into New York style lofts.

So why do so many more people now want to move to these parts of London? We spoke to three recent buyers about their choice. Margot Steinberg , a Canadian actress and theatre producer, bought her flat in Ladbroke Grove, Notting Hill in the spring.

She had tired of the transient feel of Kensington as much as being priced out of the area: "I was a little nervous of moving here. It seemed exciting, even a little bit dangerous, although unlike New York I never feel in any personal danger.

"I already knew it because a lot of my favourite restaurants and cafes were in Notting Hill. I love it here. There is a wonderful mix of people and there is real buzz during the daytime because there are so many actors and artists around. It doesn't die during office hours.

"I fell in love with my flat as soon as I walked through the door although it took me a good six months to find it. It has really big rooms, with lovely proportions. I could have sold it the day after I bought it for 10 per cent more."

She likes the fact also that it is not entirely gentrified and that it is clearly popular with families. "Just before I moved in there was a big party in the communal gardens. You really feel you belong somewhere and for someone like me who has no family in the country that is really important. I hope it doesn't become too fashionable and designery."

A similar flat closer to Ladbroke Grove tube station would cost in the region of pounds 200,000 according to Winkworth, the estate agents. They are selling a two bedroom, two bathroom maisonette near the crest of the hill, with the use of communal gardens, for pounds 327,500.

Properties in the area have risen 20 per cent in the last year. An unmodernised four-bedroom house near the tube sells for pounds 340,000 while a larger house on the communal gardens can be worth at least pounds 2.5m.

In its research, Savills found that green spaces and large period family houses were among the biggest incentives for people to move out of central London. Working couples with children are less prepared to commute from afar than they were.

A few years ago, Matthew Kaye, a partner in Chesterfield, the estate agents, might have considered moving out to the country now that his wife is expecting their second child. Instead they have moved to a large house in a quiet Wandsworth street with a good garden.

A staging post to the country, perhaps, but one where families tend to linger. "I often have to work in the evenings and it would be impossible if I lived a long way. I like to be able to drive to work in 15 minutes," he says. "Although prices have shot up, in effect after work done to the house we paid no more than the pounds 360,000 we got for our two-bedroom, two- bathroom Knightsbridge flat."

The village feel of the common has a particular appeal. Volvos and labradors are as much in evidence as in Sussex. "Most of our neighbours are young, married with children. We all go to the same playgroups, nurseries or schools. In fact the schools are good and are enormous draw."

A lot of Wandsworth's buyers are exiles from Chelsea and still regard Peter Jones as their local shop. "This is a good move for the archetypal Sloane Ranger", adds Mr Kaye.

The leafy outlier was just what Lindsay Etchells, a solicitor, and her partner wanted to escape. They left Balham, south London, for an old print works in Clerkenwell when the market was its most depressed during the early '90s and there was only a scattering of redevelopment.

"The building was derelict and gave us a huge amount of space," she says. "We have created our own house within walking distance of the City, Covent Garden, Islington, the South Bank, you name it. It has a strong Italian community - a festival every summer, and wonderful delis all within a stone's throw. It is a lovely mixed area of people and architecture".

Along with its new chic image that rivals the most improved areas of Docklands, has come an explosion of restaurants. "We can walk home from work, find the the fridge empty, and pop out to some of the best eateries in town", says Lindsay Etchells.

According to Lee Clements of agents Jarvis Keller, it would be almost impossible today to find the kind of undeveloped space Lindsay Etchells bought. About 1,000 sq feet would have cost less than pounds 150,000 in '92, whereas today it would be pounds 250,000 plus.

THAT WAS THEN.THIS IS NOW

How prices have risen 1992 1997

Notting Hill W2: pounds 350,000 pounds 700,000 4-bed house, Northumberland Avenue

Wandsworth SW18 pounds 450,000 pounds 800,000

6-bed house,

Baskerville Road

Clerkenwell WC1 pounds 100,000 pounds 250,000

1,000 sq ft

of loft space

News
scienceExcitement from alien hunters at 'evidence' of extraterrestrial life
Life and Style
Customers can get their caffeine fix on the move
food + drink
Sport
sport
Sport
David Moyes gets soaked
sport Moyes becomes latest manager to take part in the ALS challenge
PROMOTED VIDEO
Have you tried new the Independent Digital Edition apps?
Life and Style
ebooksA superb mix of recipes serving up the freshest of local produce in a delicious range of styles
Life and Style
ebooksFrom the lifespan of a slug to the distance to the Sun: answers to 500 questions from readers
Life and Style
techCould new invention save millions in healthcare bills?
News
peopleEnglishman managed quintessential Hollywood restaurant Chasen's
Life and Style
food + drinkHarrods launches gourmet food qualification for staff
Voices
Mosul dam was retaken with the help of the US
voicesRobert Fisk: Barack Obama is following the jihadists’ script
Arts and Entertainment
Michael Flatley prepares to bid farewell to the West End stage
danceMichael Flatley hits West End for last time alongside Team GB World champion Alice Upcott
News
Members and supporters of the lesbian, gay, bisexual, transgender (LGBT) community walk with a rainbow flag during a rally in July
i100
Life and Style
Black Ivory Coffee is made using beans plucked from elephants' waste after ingested by the animals
food + drinkFirm says it has created the "rarest" coffee in the world
Arts and Entertainment
Loaded weapon: drugs have surprise side effects for Scarlett Johansson in Luc Besson’s ‘Lucy’
filmReview: Lucy, Luc Besson's complex thriller
Arts and Entertainment
Jamie T plays live in 2007 before going on hiatus from 2010
arts + entsSinger-songwriter will perform on the Festival Republic Stage
Life and Style
food + drinkThese simple recipes will have you refreshed within minutes
News
Jermain Defoe got loads of custard
i100
Independent
Travel Shop
the manor
Up to 70% off luxury travel
on city breaks Find out more
santorini
Up to 70% off luxury travel
on chic beach resorts Find out more
sardina foodie
Up to 70% off luxury travel
on country retreats Find out more
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

ES Rentals

    iJobs Job Widget
    iJobs General

    Business Analyst - Banking - London - £550 - £650

    £550 - £650 per day: Orgtel: Business Analyst - Traded Credit Risk - Investmen...

    Data Insight Manager - Marketing

    £32000 - £35000 Per Annum: Clearwater People Solutions Ltd: Our client based o...

    Data Centre Engineer - Linux, Redhat, Solaris, SAN, Puppet

    £55000 per annum: Harrington Starr: A financial software vendor at the forefro...

    .NET Developer

    £600 per day: Harrington Starr: .NET Developer C#, WPF,BLL, MSMQ, SQL, GIT, SQ...

    Day In a Page

    Air strikes? Talk of God? Obama is following the jihadists’ script

    Air strikes? Talk of God? Obama is following the jihadists’ script

    The President came the nearest he has come yet to rivalling George W Bush’s gormless reaction to 9/11 , says Robert Fisk
    Ebola outbreak: Billy Graham’s son declares righteous war on the virus

    Billy Graham’s son declares righteous war on Ebola

    A Christian charity’s efforts to save missionaries trapped in Africa by the crisis have been justifiably praised. But doubts remain about its evangelical motives
    Jeremy Clarkson 'does not see a problem' with his racist language on Top Gear, says BBC

    Not even Jeremy Clarkson is bigger than the BBC, says TV boss

    Corporation’s head of television confirms ‘Top Gear’ host was warned about racist language
    Nick Clegg the movie: Channel 4 to air Coalition drama showing Lib Dem leader's rise

    Nick Clegg the movie

    Channel 4 to air Coalition drama showing Lib Dem leader's rise
    Philip Larkin: Misogynist, racist, miserable? Or caring, playful man who lived for others?

    Philip Larkin: What will survive of him?

    Larkin's reputation has taken a knocking. But a new book by James Booth argues that the poet was affectionate, witty, entertaining and kind, as hitherto unseen letters, sketches and 'selfies' reveal
    Madame Tussauds has shown off its Beyoncé waxwork in Regent's Park - but why is the tourist attraction still pulling in the crowds?

    Waxing lyrical

    Madame Tussauds has shown off its Beyoncé waxwork in Regent's Park - but why is the tourist attraction still pulling in the crowds?
    Texas forensic astronomer finally pinpoints the exact birth of impressionism

    Revealed (to the minute)

    The precise time when impressionism was born
    From slow-roasted to sugar-cured: how to make the most of the British tomato season

    Make the most of British tomatoes

    The British crop is at its tastiest and most abundant. Sudi Pigott shares her favourite recipes
    10 best men's skincare products

    Face it: 10 best men's skincare products

    Oscar Quine cleanses, tones and moisturises to find skin-savers blokes will be proud to display on the bathroom shelf
    Malky Mackay allegations: Malky Mackay, Iain Moody and another grim day for English football

    Mackay, Moody and another grim day for English football

    The latest shocking claims do nothing to dispel the image that some in the game on these shores exist in a time warp, laments Sam Wallace
    La Liga analysis: Will Barcelona's hopes go out of the window?

    Will Barcelona's hopes go out of the window?

    Pete Jenson starts his preview of the Spanish season, which begins on Saturday, by explaining how Fifa’s transfer ban will affect the Catalans
    Middle East crisis: We know all too much about the cruelty of Isis – but all too little about who they are

    We know all too much about the cruelty of Isis – but all too little about who they are

    Now Obama has seen the next US reporter to be threatened with beheading, will he blink, asks Robert Fisk
    Neanderthals lived alongside humans for centuries, latest study shows

    Final resting place of our Neanderthal neighbours revealed

    Bones dated to 40,000 years ago show species may have died out in Belgium species co-existed
    Scottish independence: The new Scots who hold fate of the UK in their hands

    The new Scots who hold fate of the UK in their hands

    Scotland’s immigrants are as passionate about the future of their adopted nation as anyone else
    Britain's ugliest buildings: Which monstrosities should be nominated for the Dead Prize?

    Blight club: Britain's ugliest buildings

    Following the architect Cameron Sinclair's introduction of the Dead Prize, an award for ugly buildings, John Rentoul reflects on some of the biggest blots on the UK landscape