First-time buyer homes in Finsbury Park: super-connected flats in one of London's liveliest neighbourhoods start from £115k

Two-bedroom shared-ownership flats in Finsbury Park are a super-connected buy from £115k.
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Ruth Bloomfield25 February 2020

A rural oasis in the 19th century, Finsbury Park offered an escape for Londoners sick of the noise and grime of the capital.

Fast forward to today and while its streets don’t enjoy much respite from 24-hour city living, its open space, vibrant nightlife and brilliant commuter links make N4 a tempting option for a first-time buyer.

The average price of an apartment in this postcode stands at just over £500,000.

However, first-time buyers willing to compromise and buy a share of a home instead of the whole thing could get their first foothold on the property ladder from £115,000 for a good two-bedroom flat.

These homes at City North by Newlon Living, have a great location on the edge of beautiful, 110-acre Finsbury Park itself.

As part of the development a new entrance to Finsbury Park station has been built west of the railway tracks, giving direct access to the platforms.

The station is in Zone 2 on the Piccadilly and Victoria lines and also has train services to King’s Cross and the City.

City living: the apartments are moments from the Zone 2 station and on the edge of lovely 110-acre Finsbury Park itself 

Prices range from £115,000 to £131,250 for a 25 per cent share of a two-bedroom apartment.

As well as mortgage repayments, buyers will have to budget for monthly rental payments of £790 and a service charge of £225 per month.

Unusually, the development also includes a new cinema, while there is plenty more to do locally, whatever your interests.

What to do in Finsbury Park

The biggest annual event in Finsbury Park is the three-day Wireless Festival, but you can also play tennis and football, or take an outdoor yoga class.

Theatre, with a programme ranging from musicals to original drama, and an excellent little café and bar.

There are some good local pubs, led by The Faltering Fullback, a 10-minute stroll from City North and something of a local institution with its courtyard garden.

On the downside, Finsbury Park remains grubby compared with nearby destinations such as flashy Islington, and the traffic is appalling when Arsenal play at home at the Emirates Stadium just up the road.

And while there are lots of 24-hour shops in Seven Sisters Road, it’s not what you’d call a curated shopping experience.

You need to hunt off the main drag for Finsbury Park’s gems, such as the weekly farmers’ market in Perth Road, and Season Kitchen, a modern British restaurant which serves expertly cooked and ethically sourced meat and fish and grows its own vegetables.

£525,000: this two-bedroom flat for sale in Victoria Road is just under half a mile from Finsbury Park station

What else to buy

By London standards Finsbury Park is an affordable option given its Zone 2 location.

Average property prices stand at just under £600,000 according to Rightmove, up almost £100,000 in the past five years — which also made it an excellent investment option for those who got in ahead of the game.

This is a classic Victorian suburb with red-brick houses on fairly leafy streets where period family houses cost well over £1 million.

But for a first-time buyer there are two-bedroom period conversion flats priced about £600,000.

Alwyne Estates has a two-bedroom flat in an unusual corner building in St Thomas’s Road for £625,000.

For buyers with less to spend, prices fall significantly as you head north towards the less-fashionable but quieter streets of Stroud Green, where Davies & Davies estate agents has a two-bedroom flat in Victoria Road priced at £525,000.

You can expect to pay in the region of £400,000 for a one-bedroom flat.

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