East London is leading the way in house price growth
The boroughs in East London are thriving in the housing market. The prices in the area have been growing consistently in the last number of years. Meanwhile, when you are buying a property in East London you are still getting extremely good value for money.
Some of the areas whose prices have grown incrementally include Newham, Barking and Dagenham, Waltham Forest and Redbridge. Prices in Newham have grown by 49% over the last five years, however top of the list is Barking and Dagenham. Prices there have risen by 51% in the same period. However, with an average house price of just over £317,000 it is still a great place to purchase a property.
Renting property in Canary Wharf
The rental market in east London is still performing well. East London has had a lot of regeneration and this has increased the flow of rental properties and renters to the market.
Increased employment in the area alongside the thriving build to rent market has given a real boost to the locality. Demand in Canary Wharf is high from creatives, tech workers and young families as the area’s cool and vibrant reputation continues to grow. New built-to-let apartments are being purpose built in E14 for tenants to meet some of this demand.
East London boroughs with very favourable rents
The lowest average rent in East London can be found in Bexley. Here, you can rent a two bedroom property for approximately £1,100 pounds per month. Other boroughs in the east give very favourable rental averages also. The standard of living is also higher than ever before for tenants in the area. With a lot of professional landlords in the area you will find Property Management services are a growing element.
Selling your East London property
If you are considering selling in East London then now is a great time to do so. Alongside great returns there is huge demand in this part of the city at the moment.
Now is a great time to make a move in the East London property market
If you have a property you would like to rent or sell, or if you are looking for a property in Royal Docks or surrounding areas, we can help you today. Give one of the links below a click and soon you could be talking to one of our property experts in the area.