Choosing the right location when buying in
Buying property has always had the tagline ‘location, location, location’ attached. A recent study done by CBRE has given us some definitive evidence to cement the theory that location is a huge factor when it comes to property price growth. They looked at the prices achieved in regeneration areas.
The study did not just look at the prices of the new developments being built. In fact these were eliminated from the figures. Instead, it looked at the property price growth within the same area as ongoing regeneration but excluding the regeneration properties themselves. This would give a much better idea of the price effects that upgrading an area would have.
A great time to invest in Stratford
Stratford is one of London’s biggest and most successful regeneration sites. The area is thriving currently and is being reinvented as one of the biggest success stories of the last decade.
The study showed that if you have a home within a 750m radius of an area undergoing regeneration, the property value increased over 3.5% more than other properties in the same borough. Likewise, annual gains were 1.5% higher. This is great news if you have property in a regeneration zone. It is also great news if you are going to consider buying property in one. Good long term price growth is forecast.
Regeneration brings fantastic amenities and transport connections
Transport and amenities have a lot to do with all of this. When regeneration comes to an area it is not a case of just building lots of new homes. Along with the homes come facilities to provide for the new residents. Shops, restaurants, cafes, schools, parks, transport facilities. Suddenly an area that may not have catered well for its population is thriving and full of life. The increase in property price is certainly obvious when you look at what is available to you within under a 1km walk.
Investing in Stratford now could bring you more rewards in the future
If you would like to invest in this stunning regeneration zone, give our team in Bow a call today. We have some fantastic opportunities in the area and would love to give you all of the details. Click on the links below to get in touch with a member of our team as soon as possible.