Despite an industrial past and heavy bombing during WWII, Bow has become an area of sought-after flats and houses, where great location and transport connections combine with affordable rents. Developments like the Omega Works and the Iron Works, as well as St Clements on the site of the old hospital, provide spacious apartments for workers and families alike.
House price growth in Bow
East London’s popularity is reflected in the growth of its house prices. Land Registry figures show that the average property in Bow has increased in price by 49% over the last six years.
Sadeq Rahman, estate agent at Henry Wiltshire Bow, explains more. “East London has a very wide variety of housing,” he says. “There really is something for everyone! There are flats for young professionals and others who move to London to be near where they work. Families can have lovely homes, and even artists and people who work from home will be able to find accommodation that meets their needs. For this reason, estate agents in Bow are able to quickly find tenants when rental properties become vacant, and investors in East London are seeing great returns.”
Understanding London transport when investing in Bow property
When you’re choosing which area of the London property market to invest in, it’s important to consider how your future tenants will travel to work and around the capital. London’s success hinges on its transport system, which allows Londoners the option of living on the edges of the conurbation and enjoying a slower pace of life, or choosing a more urban lifestyle and benefiting from shorter commute times. People renting property in Bow will fall into the latter category, so it’s important to choose an investment property that’s near to public transport links.
Bow connects to the rest of London through Bow Road Underground station, and Bow Church on the DLR, which allows East Londoners to connect with Crossrail. Cycling is also a realistic option, and some Bow residents choose to walk to where they work in Docklands, which takes just over half an hour.
The Olympic legacy
Another great feature of Bow is the Queen Elizabeth Olympic Park, which was built for the London 2012 Olympics. It now provides sports facilities for local residents, and hosts countless national and international sports events. It’s also a concert venue, and has provided an amazing setting for many gigs and festivals. Residents of Bow and neighbouring Stratford can take advantage of the spacious Park, and enjoy some of the best sports facilities London has to offer.
Buy investment property in Bow
Investors seeking buy-to-let property should consider Bow and the rest of East London. Henry Wiltshire offers a full-circle service, supporting buyers and sellers, while also finding tenants and managing rental properties. Contact Sadeq and the team at the Bow office on 020 3696 9610 to find out more.