Demand for London property continues
The house price growth in London is up overall. It has increased to 0.4%, up from 0.2% last year. Some areas are doing better than others and some are predicted to grow enormously in the coming year.
The east end of London in particular is worth a watch as it sees massive changes for the better and many new homes coming onto the market. With new transport links together with ongoing regeneration on the horizon the improvements to many areas will bring up demand for property and furthermore increase price growth.
Belgravia is up at 3.1% and Pimlico is also up at 2.6%. These SW1 areas showing strength in the current climate.
London is still a great place to invest in property
Despite small growth to prices and ongoing Brexit uncertainty London is still a great place in which to invest. Traditional investor hotspots may not be as popular as before. Westminister and Camden have generally been great areas for investment in the past. This has eased off in recent times but investors are simply looking for better returns and choosing other parts of the city to spend their money.
Asian investment is still high in London where advantages of investment in the UK definitely outweigh any uncertainty leaving the EU brings. London has one of the highest rates of foreign investment in Europe and is still very much open for business.
First-time buyers and trading up in London
First time buyers aren’t overly affected by the current market. They need a home and are willing to go for it now. The help to buy scheme has been a big bonus for first time buyers in London. It allows people to buy in areas that may have been out of their reach previously.
Similarly, families that need to trade up are also undeterred by all the data. Trading up can be tricky but generally the price you receive for your own property is reflected in the price you pay for a new one. The market remains unchanged for this category and it really is business as usual in all areas of London for owner occupiers.
Investing in East London
With great value for money to be found in East London, whether you are an investor or going to buy your own home we may have the perfect opportunity on our books for you. Click on one of the links below and our team of estate agents can help you out today.