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I'd go for it. Sunny Saturday mornings on Broadway Market, London Fields and Victoria Park in the summer, all of the lovely places to eat and drink around the area, easy access to Bethnal Green: all these things outweigh anything bad about the area.
I'm jealous. I moved out of a house on Victoria Park Road this week. Went for farewell drinks in Satan's Whiskers on Cambridge Heath Road: recommend for cocktails, bar snacks and hip hop.
How far down? Actually on Pownell Rd or on a side road? You get a few school kids in the summer on the road, mostly hanging out at the basketball courts at Broadway Market end. Other than that it's mostly Broadway market yuppies and OAP cockneys.
There's a gravestone there in memory of a PC that was shot 20 years ago, I guess it's changed a lot since then.