East London has long been popular with tenants, however over the last six years, properties in Bow have seen almost a 50% increase in price thanks to the many exciting new developments in the area. Although there is a great variety of property types in the E3 postcode, with everything from studios right up to four-bedroom family houses being available, by far the most in demand is the one-bedroom apartment.
Young professionals are keen to rent property in Bow
While East London is home to its fair share of families, the Bow rental market is dominated by young professionals who are looking for conveniently located one bed properties with easy access to the heart of the city.
Jas Samra, estate agent at Henry Wiltshire Bow, has seen the number of professional singles and couples who are keen to rent property in East London increasing over the last few years. “The East London area is especially popular with young people who are looking for their first property to rent.” He explains. “The short commute to the city and Canary Wharf is very attractive, yet the area is still something of an undiscovered gem – a real taste of authentic London with beautiful Georgian and Victorian buildings, and acres of green space alongside stunning new developments.”
The benefits of letting your one bed apartment
For landlords, the benefits of letting out their one bedroom apartment in Bow are clear. Compact and affordable properties in East London are constantly in demand among tenants, and this, in turn, means a steady stream of income. Commanding an average rental price of £331 per week, a one bed flat in the E3 postcode certainly represents a lucrative investment.
Apartments in this area are also very popular with buyers, as regular purchasers and buy-to-let investors alike are starting to see the potential in this part of the city. This means that, should a landlord wish to sell property in Bow in the future, they can be confident of seeing a profit on their initial investment – the growth trend in E3 looks set to continue for the foreseeable future.
Let property in Bow
If you have a property to let in E3, contact the Henry Wiltshire Bow team today on 020 3696 9610. As experts in the East London rental market, the team can help you to find the right tenant for your home.