Lee: London life on the lighter side

Background

Lee, nearly of which lies in the London borough of Lewisham, is an area steeped in history having been a home to a number of wealthy merchants during the 17th and 18th century. It will attract people who enjoy classical buildings and a more relaxed atmosphere.

It accommodates a collection of bars and restaurants sure to keep residents entertained and with a small part of Lee situated in the London borough of Greenwich, there are a plethora of eateries and night spots well within reach of those living there.

It is also within reach of Central London via train and bus and is only ten minutes from not one but two motorways

Property

Property prices have risen sharply in the London borough of Lewisham, where Lee falls, in the past eight months. From an average price of £242,535 in June 2009, the cost of a property in the area is £254,659, an increase of 4.8 per cent.

Broken down, people looking to buy a property in Lee should be prepared to pay an average of £519,478 for a detached home, £335,681 for a semi-detached house and £271,426 for a terrace.

Similarly, buying a maisonette or a flat could prove expensive with average prices hovering at £212,015, again with a considerable increase of approximately five per cent in just over six months.

It is not just rising property prices that potential buyers will have to contend with, as deposits on average in the UK are in excess of £50,000 and believed to equate to 64 per cent of an annual wage for an individual.

However, looking for property to rent in the London borough of Lewisham - and in particular Lee - could be a more viable option.

Britons may only need to pay average of £602 per month for a studio flat or £706 a month for a one-bedroom pad in the area. Two-bedroom accommodation is available for around £900 a month and less than a thousand pounds per month to rent a three-bed home.

Transport

Lee was historically a place for wealthy merchants and when its train station was built in 1866, it gave people working in Central London a straight forward journey to work. Nearly 150 years later and the situation in still the same.

Commuters are only half an hour from Canary Wharf and less than 20 minutes from London Bridge near the state-of-the-art More London office development.

The area also has good rail links to Victoria, Charing Cross and Waterloo stations.

Anyone looking a quick getaway to the continent via Dover or Folkestone should find a quick escape to the motorway being only ten minutes from both the M25 and the M20, which links both Channel ports to the capital.

The area is also within an hour journey of Gatwick, Heathrow and London City Airports.

Amenities

Lee is well within touch of Greenwich and a number of popular visitor attractions including Discover Greenwich

In addition, pop concerts, sporting events and, in 2012, the Olympic Games, come to the O2 Arena, which lies just half an hour away via public transport.

There are plenty of bars and restaurants in the area with Italian, Indian and Turkish cuisine particularly popular. Furthermore, nearby Blackheath lists an array of modern and classical cuisine as well as a vibrant and cultured night life.

Written by Martyn Glynn

Published 29th March, 2010

© 2010 Estates IT Limited