Greenwich: Get in the middle if things in Greenwich

Greenwich: Get in the middle if things in GreenwichBackground

Greenwich is situated on the banks of the River Thames in South-East London within the London borough of Greenwich, making it the ideal spot from which to explore the city. Aside from its location, Greenwich has plenty more to offer its residents, in particular the chance to swot up on a bit of history.

The district is famed for its maritime history and visitors can find out more at its acclaimed National Maritime Museum. Greenwich is also an immediately recognisable name for many people, due to it lending its name to both the Greenwich Meridian and Greenwich Mean Time.

Home to the Royal Palace of Placentia - where both Henry VIII and Elizabeth I were born - the clipper ship Cutty Sark, Greenwich Park and the Royal Observatory, Maritime Greenwich was made a World Heritage Site several years ago.

Property

As a world heritage site and with so much to offer its residents in terms of both location and places of interest, it should perhaps come as no surprise that house prices in Greenwich are high and may be out of the affordable price ranges of many Britons hoping to move there.

Land Registry figures reveal that in November last year, the average property price in the district was £245,982. While this is lower than 2007's high of £279,429, with house prices on the rise again in the capital following recent recovery in the market, it could be said that it will only become more expensive to buy a home in Greenwich.

Britons looking for a detached home in Greenwich should expect to spend £446,444. A semi-detached property is significantly cheaper but may still be out of the price range of many consumers at £287,362. Meanwhile, the average price of a terraced house stands at £235,580, while a maisonette or flat will set people back a typical £220,500. Furthermore, it should be kept in mind that as Greenwich is a large borough, these prices are likely to vary significantly depending on where people look.

For this reason, Britons may instead prefer to look for property to rent in Greenwich, which could see them moving into a home they would be unable to afford if they were buying. A studio apartment for rent in Greenwich costs an average of just £853 a month, while a one-bedroom property stands at £1,114 per month.

Meanwhile, a two-bedroom home costs a typical £1,495 a month to rent, or £2,011 a month for three bedrooms.

Transport

Thanks to its centralised location, there are plenty of means on which to travel from Greenwich to any other part of the capital city. And people could even check out the Greenwich foot tunnel which provides access to the Isle of Dogs.

Both the Greenwich line and the Docklands Light Railway line cross the district, both of which are served by Greenwich Station, with trains travelling to destinations such as Lewisham, Bank, Stratford, Canary Wharf, Charing Cross and Canon Street, in addition to stops in Kent.

While it does not have an Underground station, Greenwich has a number of boat services, while the Thames Path National Trail for cyclists runs along the river.

Amenities

As mentioned above, Greenwich boasts a number of historic places of interest and it could take new residents several weeks or even months to explore them all.

But in addition to these places of interest, there is plenty more Greenwich has to offer, including an abundance of shops, bars and restaurants.

Taking a stroll around Greenwich Market could be the perfect way to spend a weekend, with plenty of goodies on sale, including handbags, chocolates, household goods, jewellery and toys. And fitness fans may wish to spend their free time cycling by the river or taking a stroll in Greenwich Park.

However they choose to spend their time, residents living in the London borough of Greenwich are sure to enjoy their life in the middle of the city.

Written by Ben Carter

Published 22nd January, 2010

© 2010 Estates IT Limited

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Britons who choose property to rent in Greenwich will find they are situated practically in the centre of London, providing them with the perfect base from which to explore the UK's capital and all it has to offer.

Greenwich: Get in the middle if things in Greenwich

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