The German sociologist Max Weber believed the art of compromise was a vital skill for anyone embarking upon a career in politics. And were Weber alive today he might say exactly the same about anyone interested in owning a home. The maths is simple. The average age of a first-time buyer is set to hit 40 by the end of the decade, so many are likely to need a more spacious property than a starter flat. The average price of a semi-detached house in Greater London is now around £450,000 — and the average London salary is less than £28,200.
Which means buyers unable to access the bank of mum and dad need to be willing to cast their nets beyond zones one or two. Which brings us to Ilford — perhaps the only place within Greater London where you can buy a period family house for beneath the £250,000 stamp duty threshold.
Another strong argument in its favour is its top-notch schools, open space and good transport links (18 minutes to the City and with a Crossrail service on its way).
The compromise comes in terms of lifestyle. Ilford has very decent amenities but it could certainly do with some prettification, some more interesting shops, and some more diverse nightlife options.
Where is it?
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East London, on the borders of Essex and about 13 miles from Central London.
How do you get there?
Trains from Liverpool Street to Ilford take just 18 minutes, and the M11 is less than three miles away. From 2018 Ilford will be on the Crossrail line with direct links to the West End and Heathrow.
What are the houses like?
For bargains head to south Ilford where you could pick up a three-bedroom 1930s house for between £220,000 and £250,000. In the smarter north of town there are streets of Edwardian houses, priced at around £400,000 for a four-bedroomed property.
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Mark Sinclair, branch manager of Payne & Co, says that the most desirable homes are either on the Cathedral Estate, where a three to four-bedroom interwar house would cost from £325,000, or the Garden City Estate. Houses here are a little more expensive, starting at about £400,000 for a four-bedroom 1930s property and heading towards the £1 million mark for the most expensive properties facing Valentines Park — Holcombe Road and Emerson Road are particularly sought after. Sinclair says prices have been static for the past couple of years — and he expects no great changes in 2012.
What’s new?
London Bridge has the Shard and Ilford has its own landmark skyscraper scheme under construction — Pioneer Point, two steel and glass towers of 33 and 25 stories, containing almost 300 flats as well as shops and restaurants (pioneerpoint.co.uk). The towers are almost complete, but a level of confusion surrounds their future after the developer of the project, Empire (part owned by London & Regent), went into administration at the end of March. Despite this a representative insisted that the construction of the development would proceed and would be completed “within weeks”.
How’s the high street?
A comprehensive range of middle-market chain stores, including Debenhams and Marks & Spencer, in the Exchange shopping centre and pedestrianised high street, but little in the way of interesting independent shops. Although this is Essex so there are some good clothes shops — Zee & Co, Tight Fit and D&S.
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What about the cultural life?
The Kenneth More Theatre has been staging productions since the mid 1970s — today its programme is more am dram than off West End. Ilford Art Society (ilfordartsociety.co.uk) runs classes and exhibitions and there is also a Cineworld cinema.
And what about green space?
Valentines Park, which celebrates its centenary this year, is a Green Flag park with plenty to do — there are two cafés, basketball, cricket pitch, a boating lake, children’s playground, tennis courts and an outdoor gym.
Any local landmarks?
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Valentines Mansion, at the northern tip of the park, dates from 1696 and both the house and its gardens are open to the public. The garden is a particular treat with ornamental ponds and grottoes and a charming rose garden. There is a busy programme of exhibitions, music and film screenings at the house, as well as monthly farmers’ markets.
Eating and drinking
Ilford’s cosmopolitan community is reflected in its dining rooms. Traditional fans of Indian food will like Caraway, or try Darbar for a more contemporary take on Eastern cuisine. The Turkish menu at Mirage is also recommended. In terms of pubs The Cauliflower has live music, and the peculiarly-named The Great Spoon of Ilford, has a decent if slightly unimaginative bar menu.
What is there to do at night?
The If Bar (recently refurbished at a cost of £3.5 million) is huge, with a restaurant, two bars, a garden, VIP room and terrace (complete with a miniature golf course). For a real Essex night out, and some footballer spotting, Faces nightclub, in neighbouring Gants Hill, is only up the road.
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Who lives there?
The fact that you can buy a family home for less than £250,000 and local schools have a good reputation attracts families priced out of East London.
What are the schools like?
There are some very strong options for education available in the area. Christchurch Primary School is rated “outstanding” by Ofsted. And for seniors there is a triple whammy of top-rated schools to choose from: Loxford School of Science and Technology, The Palmer Catholic Academy and Seven Kings High School.
FOR SALE: A refurbished six-bedroom family house with a 27ft living room and 68ft rear garden on Wanstead Lane, Ilford. Price: £599,950. Contact: Payne & Co (020-8518 3000, payneandco.co.uk)