This is the most affordable place to buy a home on the Victoria Line

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LONDON, ENGLAND - JANUARY 27: A general view of the construction at Centre Point on January 27, 2015 in London, England. Work continues on the creation the luxury flat conversion of Centre Point at Tottenham Court Road. The former office building is to be converted into 82 one- to five-bedroom apartments averaging £3.2M GBP each. (Photo by Dan Kitwood/Getty Images)

With 36 trains an hour running from Brixton to Walthamstow and boasting a major travel hub, the Victoria Line is one of the best Tube lines to live on if you work in London.

But steep house prices make that almost impossible, with the average house price on the Victoria Line costing £807,783.

Read more: UK house price growth falls in September

That’s out of most buyers’ reaches, while a home near Victoria station will cost you more than £1.6m.

However, estate agent Knight Frank has found the one station on the Victoria Line where house prices remain affordable – in fact, they are half the average price of the rest of the line.

Buyers looking for a smooth commute that doesn’t break the bank have one option – Tottenham Hale.

Tottenham Hale house prices are much more affordable than anywhere else on the Victoria Line, costing an average £405,162.

The area is also more affordable than 80 per cent of others in London’s Zone 3.

Around 10,000 new homes are set to be delivered to the area over the next decade with almost 40 large projects approved within 3 kilometres of the station.

A new company formed by UK developer Argent and US-based Related Companies, called Argent Related, is delivering a seven-building regeneration scheme in the heart of the area with over 1,000 new homes being developed within 200 metres of the station.

Its first building, 1 Ashley Road, designed by Alison Brooks Architects, launched in June with a starting price of just £365,000.

Read more: Days of soaring London house prices ‘are long gone’, says UBS

Ed Robinson, City & East Residential Development Partner at Knight Frank
said: “We consider Tottenham Hale to be one of London’s next hotspots,
with this data demonstrating how it presents excellent value for buyers looking for a new home within easy reach of central London.

“With £1 billion of development investment committed to the area, backed by
Haringey Council and the Greater London Authority, Tottenham Hale is set to
benefit from excellent new facilities with refreshed retail, infrastructure
improvements, and quality new housing.”