Don’t be a Ginger whinger: where to rent on the London Overground to save £1,000s on rent

Move a stop or two along the ‘Ginger’ Overground East London line to save a packet in rent.
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Ruth Bloomfield6 September 2018

Anywhere lacking a Tube station has tended to be overlooked by London renters, while Overground train services were dismissed as just as crowded as the Underground, only slower.

Then came the new East London line, extended to cover a huge swathe of north-east, east and south-east London, offering super-fast, frequent services to the City and beyond.

A new Rightmove study of the average cost of renting homes along the “Ginger” line — from Highbury & Islington in the north to Croydon in the south — shows that renters can save thousands of pounds each year just by switching their property hunt a stop or two up or down the line.

WHERE TO RENT IN EAST LONDON

Renters who want to live within easy striking distance of Hoxton and Shoreditch will find the best value for money around Dalston Junction in Zone 2, where a two-bedroom flat costs an average £1,941 a month, and a three-bedroom house is £2,738.

A two-bedroom flat in Haggerston, one stop up the line, costs an average of £2,091 a month, representing an annual saving of £1,800 per year.

Canonbury and Highbury & Islington, just north of Dalston, are both more expensive, too, particularly houses.

A three-bedroom house in Canonbury costs an average £3,227 a month, and in Highbury & Islington that increases to £3,462.

The renters who come to see Harry Histed, senior lettings negotiator at Black Katz estate agents, tend to be young professionals either working for start-ups or for themselves.

“It is a very hipster sort of place,” he says. “The properties seem to be mainly warehouse conversions which they really like and it is within easy walking distance of Shoreditch. And for them Dalston is a bit rough, but trendy at the same time, which is what they like.”

Anyone familiar with Kingsland Road will know what he means: this noisy, polluted drag which sweeps through the heart of Dalston is an unlikely mix of dreary betting shops, cute artisanal bakeries and shops that will unlock your phone for £10; new coffee shops will serve you an almond milk latte for about the same price.

WHERE TO RENT IN SOUTH LONDON

The East London line also covers a big swathe south of the river, and the newly fashionable south-east outskirts have become a go-to zone for young Londoners looking for a less gritty, more leafy location.

Brockley is the most expensive option in this neck of the woods, probably thanks to its Zone 2 station.

A two-bedroom flat will cost £1,462 a month. In Zone 3 the best-value homes are in Sydenham, where a two-bedroom flat is £1,299 a month on average.

In Crystal Palace, Forest Hill or Honor Oak Park, a similar property would cost £1,334 to £1,397.

Sydenham where a two-bedroom flat costs £1,299 a month on average
Alamy Stock Photo

A typical three-bedroom house in Brockley rents for £2,223 a month, while a similar property in Sydenham would be £1,679, a saving of more than £6,500 a year, softening the blow of paying more for a travelcard.

Glen Morrison, senior lettings agent at Harrisons estate agents, believes Sydenham is better value than its neighbours because of a perception that it is in the middle of nowhere.

In fact its transport links are excellent. Journeys from Sydenham station to London Bridge take about half an hour. Trains from Sydenham Hill station are at Victoria in 15 minutes.

“It has been a bit underdeveloped in the past in terms of shops and infrastructure,” says Morrison. “There is a high street, and recently it has been changing; a new gym has opened and there are new restaurants opening up.”

Sydenham’s stock is mostly Victorian, whether houses or conversions. Sydenham Road has all the basic shops you will need while Crystal Palace is five minutes by bus and offers a lively range of places to eat and drink.

Locals organise an annual arts festival, and sporty types can join local tennis and cricket clubs.

Those looking for Sunday afternoon walks after their Saturday night out, will like Sydenham Hill Wood, Crystal Palace Park, Sydenham Wells Park and Mayow Park.

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