Popular Places to Live and Invest in London
Tuesday 2nd June 2015
When it comes to London boroughs, if you take the time to study property trends then you will find that a pattern emerges. Simply, every year there are selected London locations deemed as 'up and coming' and these are areas that subsequently grow in popularity. This influx of people results in a larger demand for accommodation, which in turn draws investment and rejuvenation into the area, and thus results an increase in property prices, both in terms of monthly rental and sale values. A perfect case study for this would be Brixton, a location that quickly gained momentum and where property prices continue to soar.
If you are a first time buyer or are an investor looking to expand your portfolio, buy London property in these popular areas that expected to offer good long term investments.
Known largely for its association with the Olympics, this area is now a trendy London destination, filled with cool cafes, bars and restaurants. This location has become a favourite alternative with those who find themselves priced out of popular Shoreditch.
As a result of the rise in popularity, Hackney Wick has become a property gold mine. There is an array of property here for investors to choose from, including terraced houses and converted warehouses, with the average price below £400,000.
This town has seen huge improvements over the last couple of years with new shopping centres, more transport and the formation of tech city – the latter of which has led to a comparison with California's Silicon Valley.
House prices in Croydon are still relatively low, with an average property value of approximately £310,000. However, prices here have increased by 13% over the past year and are set to continue to rise, so now is the time to invest.
Nine Elms Development, Battersea Power Station
This is the London regeneration that has got everyone talking. Situated on the site of Battersea Power Station and what was once barren wasteland, this new development is expected to create 16,000 homes over 20 separate sites. In addition, two tube stations will be built here, as well as a new Embassy for the United States.
The average property here costs just over £650,000, with detached houses coming in at approximately 800,000.
Situated next to the pricey Peckham and Greenwich, Hither Green has become an area known for its creative and artistic atmosphere. This Lewisham district is home to its own yearly festival, boutiques, cafes and highly rated schools.
While the average property in Peckham has an asking price of around £570,000, Hither Green offers more for your money at £410,000. This area is also popular with couples, professionals and families, meaning property here has wide appeal.
Editorial Contact Details - Conor Shilling