Planning to move to Finchley and need the best affordable housing options when moving to Finchley? This guide covers the best neighbourhoods like East Finchley, North Finchley, and West Finchley, and explores various housing types that fit different budgets. Find tips and insights to help you secure an affordable home in one of Finchley’s charming areas.
Key Takeaways
- Finchley has diverse neighbourhoods like East, North, and West Finchley, each offering unique affordable housing options with strong community vibes.
- Various housing types, including flats, terraced houses, and shared ownership schemes, cater to different needs and budgets, making homeownership more accessible.
- While Finchley offers great transport links and green spaces, prospective residents should consider higher living expenses and limited parking as potential downsides.
Affordable Neighbourhoods in Finchley
Finchley offers a variety of neighbourhoods where property prices can fluctuate significantly, making it possible to find more affordable options. The area is characterised by a friendly atmosphere and a strong sense of community, supported by excellent schools and abundant green spaces. Whether you’re looking for a cosy flat or a spacious terraced house, being flexible with property features or location can significantly increase your chances of finding affordable housing in Finchley.
Three main areas to consider are East Finchley, North Finchley, and West Finchley, each offering unique charm and affordability to suit different lifestyle needs and preferences.
East Finchley
East Finchley offers a blend of city convenience and suburban tranquillity, making it a popular choice for those seeking affordable rental properties with good transport links. The leafy streets are lined with elegant Victorian homes, creating a picturesque setting for residents. East Finchley High Road features independent shops, cosy cafes, and traditional pubs, providing a vibrant local atmosphere that is both charming and convenient.
One of the standout features of East Finchley is the Phoenix Cinema, one of the oldest continuously running cinemas in the UK, which screens a mix of mainstream and independent films. With its antique shops and unique shopping experiences, East Finchley offers a delightful mix of old-world charm and modern amenities, making it a desirable location for many.
North Finchley
North Finchley is a lively hub, featuring a bustling High Road filled with diverse shops and restaurants, making it an affordable option compared to other Finchley areas. Shoppers can find a variety of stores, including well-known brands like Waterstones and River Island, as well as unique local gems like Boulangerie Joie de Vie and Emporium Tea Room. The area’s vibrancy and convenience make it a favourite for those who enjoy city life without the central London price tag, especially when considering the nearby Brent Cross shopping centre and the northern line.
The Arts Depot, a cultural venue in North Finchley, hosts a variety of performances and exhibitions, contributing to the area’s vibrant community life. Whether you’re a culture enthusiast or just enjoy a lively atmosphere, North Finchley has something to offer everyone.
West Finchley
West Finchley is particularly appealing for families and professionals, offering budget-friendly housing options in a welcoming community. The area is known for its family-friendly vibe, with excellent schools and various amenities that cater to daily needs. Residents benefit from convenient access to several amenities and reliable transportation links, making it an ideal location for those who commute to Finchley Central Station, central London, and southwest London.
With its strong community spirit and suburban tranquillity, West Finchley and Woodside Park provide a balanced lifestyle that appeals to many. From leafy streets to local parks, it’s a place where you can enjoy both peace and convenience.
Types of Affordable Housing in Finchley
Finchley offers a variety of affordable housing options, from flats and terraced houses to shared ownership schemes. Each type of housing caters to different needs and budgets, making it easier for residents to find a home that suits their lifestyle. Whether you’re a single professional looking for a compact studio or a small family in need of more space, Finchley has something for everyone.
Next, we’ll explore the specifics of the different housing types available: flats and apartments, terraced houses, and shared ownership properties.
Flats and Apartments
Flats and apartments in Finchley come in various sizes, from compact studios to larger multi-bedroom units, catering to diverse living needs. These properties are particularly appealing to young professionals and small families due to their affordability and convenience. The average sale price for flats in Finchley was £439,836, making them the most commonly sold property type.
Living in a flat offers the advantage of urban convenience, with many located close to shopping options, healthcare facilities, and primary and secondary schools. Whether you’re looking for a rental property or planning to buy, flats and apartments provide a range of choices to fit various budgets and preferences.
Terraced Houses
Terraced houses, particularly those built in Victorian and Edwardian styles, are a prominent and affordable option in areas like East Finchley and North Finchley. These homes offer more space compared to flats and are ideal for families looking for a bit more room to grow. The charm of these historical houses, coupled with their affordability, makes them a popular choice among local residents.
The average price for terraced houses in Finchley is £863,947, reflecting their desirability and the value they offer. With picturesque streets and a vibrant community, terraced houses provide a blend of suburban tranquillity and city life.
Shared Ownership Properties
Shared ownership schemes in Finchley allow buyers to purchase a share of a property while renting the remaining portion, making homeownership more attainable for many. This type of housing is especially beneficial for those who may not have the means to buy a property outright. By only paying for a portion of the property, residents can gradually increase their ownership stake over time, making it a flexible and financially feasible option.
These schemes are a great way to get onto the property ladder without the immediate need for a large deposit, providing an accessible route to homeownership in Finchley.
Average Property Prices in Finchley
As of October 2023, the average property price in Finchley is approximately £760,000, which is roughly £23,574 lower than the overall London average of £783,574. This makes Finchley an attractive option for homebuyers looking for more affordable housing within North London. The area has seen a 7% increase in property prices over the past year, outpacing the 2% increase seen across London, reflecting its rising popularity.
Overall, Finchley offers a more affordable option for those looking to buy property in the greater London area, with its diverse neighbourhoods and housing options catering to various needs and budgets.
Pros and Cons of Affordable Living in Finchley
Living in Finchley comes with its set of advantages and disadvantages. On the one hand, Finchley is known for its safe and welcoming community, excellent transport links, and abundant green spaces, all of which contribute positively to the quality of life for its residents. However, it’s important to also consider some downsides, such as higher living expenses and limited parking availability.
Considering these pros and cons can help prospective residents make more informed decisions about whether Finchley suits their needs.
Pros
A major advantage of living in Finchley is its excellent transport links, making commuting easy and efficient. Additionally, the area is home to abundant green spaces, providing residents with plenty of opportunities for outdoor recreation and relaxation. The community spirit in Finchley is strong, with numerous active neighbourhood associations facilitating local engagement and enhancing residents’ satisfaction.
Furthermore, Finchley offers a vibrant community life with various entertainment options and amenities, making it an appealing choice for young professionals, families, and retirees alike.
Cons
One notable downside is that living expenses in Finchley are generally higher compared to some other areas, which can be a concern for those on a tight budget. Additionally, some residents may face challenges with limited parking availability in the area, which can be particularly problematic during the busy summer months.
While these issues may not be deal-breakers for everyone, they are important considerations for anyone thinking about moving to Finchley.
Tips for Finding Affordable Housing in Finchley
Finding affordable housing in Finchley can be a daunting task, but there are several strategies that can help. Expanding your search radius within Finchley and being flexible with property features or locations can significantly increase your chances of finding a suitable home. Additionally, considering different types of affordable housing, such as social housing, private rented sector accommodations, and shared ownership schemes, can provide more options to fit your budget.
It’s also beneficial to stay informed about the latest property listings and market trends, as well as to work with a reputable real estate agent who is familiar with Finchley’s housing market. These tips can make the house-hunting process more manageable and successful.
Summary
Finchley offers a diverse range of affordable housing options, from flats and terraced houses to shared ownership properties. Each neighbourhood, whether it’s East Finchley, North Finchley, or West Finchley, has its unique charm and affordability, catering to different lifestyle needs and preferences. While living in Finchley comes with its pros and cons, the area’s strong community spirit, excellent transport links, and abundant green spaces make it a desirable place to live. Whether you’re looking for your first home or a place to settle down, Finchley provides a variety of options to suit different budgets and needs. Embrace the opportunity to explore this vibrant and welcoming community.
Frequently Asked Questions
What are the most affordable neighbourhoods in Finchley?
East Finchley, North Finchley, and West Finchley are your best bets for affordable housing, each bringing its own unique vibe. So, if you’re looking to save some cash while enjoying a great community, these neighbourhoods are definitely worth considering!
What types of affordable housing are available in Finchley?
You’ll find various affordable housing options in Finchley, such as flats, terraced houses, and shared ownership properties. It’s a good mix that could fit different needs!
How do property prices in Finchley compare to the rest of London?
Property prices in Finchley are roughly £30,000 lower than the London average, with the average hitting around £751,390 as of mid-2023. So, if you’re looking for a relatively more affordable option in London, Finchley might just be the spot for you!
What are the pros of living in Finchley?
Living in Finchley is great due to its excellent transport links, lush green spaces, and strong community vibe. You’ll really enjoy the lively community life here!
What are some challenges of living in Finchley?
Living in Finchley can be tough due to high living expenses and the struggle to find parking. It’s something many locals deal with daily!
