We analyze five areas in London undergoing substantial transformation, each of which should be on the radar of anybody considering buying property in the city. Major development initiatives are either already happening or are planned to begin soon, providing benefits to these regions long into the future due to the broader London Plan.
Are you a seasoned real estate investor? You may want to make a smart financial move when purchasing a house. Any way you look at it, these 5 places should be cut. Within the next decade to two decades, billions of pounds will be invested in these areas. It makes sense to get a head start if you want to ensure future financial success.
This historic transportation centre, well known for the [King's Cross St. Pancras tube station](https://en.wikipedia.org/wiki/King%27s_Cross_St_Pancras_tube_station#:~:text=King's%20Cross%20St%20Pancras%20(also,interchange%20between%20six%20Underground%20lines), was recently reimagined by the firms of Allies and Morrison and Poprhyrios Associates. In the first phase of their proposal, they intended to convert the old Granary into a college for the arts. Along with repurposing bus depots as stores, Argent Group Plc will retain long-term title to the property.
With construction nearly finished, King's Cross has garnered the attention of major companies like Google, who have announced their intention to establish a presence there once construction is complete. It's a great spot to buy or put money into because of all the business opportunities and industries in the area.
Massive revitalization efforts are now under process in Tottenham Hale. Under the umbrella of Argent Related, 2,000 brand-new residences will be built. There will also be a new town centre with stores and cafés and a renovated train station.
The neighbourhood is convenient because of the Victoria line's accessibility to the city centre. Another positive aspect is the area's closeness to the Waltham stow Wetlands and the green space along the River Lea. Investors and homebuyers in London would be well to give this option serious thought.
With the departure of so many cool East Londoners, the neighbourhood of E17 has been through a period of revitalization for some time now—those who could not afford to stay in neighbouring southern areas like Hackney and Stoke Newington.
Developers quickly caught on, and new houses are springing up all over this immediately desirable neighbourhood, along with the Victorian and Edwardian terraces. A further boost came in 2019 when Waltham stow served as London's Borough of Culture. The area's rising star power is guaranteed to persist today.
London's most prominent film studios will be constructed in Dagenham, according to proposals given the go-light in July 2020. The construction is part of a wave of revitalization occurring in the borough, which is rising in popularity as one of the best places to find a bargain in all of London. In a recent 20-year plan, Be First planners committed to building 50,000 new houses and creating 20,000 new jobs. Possibilities for real estate investment in this area of London are appealing.
The Southwark Council and British Land have joined to develop the Canada Water Masterplan. The 53-acre tract between Rotherhithe and Surrey Quays is part of a £3.3bn project that will see the construction of a new town centre and the addition of 3,000 new houses over 15 years. Being at the hub of two major lines—the Overground and the Jubilee—the Canada Water station is ideally situated. As a result, it is well located in Zone 2 and has excellent transport links.
Investing in London real estate is often a complex subject to address. London real estate investments are out of reach for most people due to the city's high cost and below-average rental rates. Nonetheless, there is a steady flow of capital into the city, much coming from outside investors. Specifically, Statistics reported that in 2018, London was home to 458 foreign investment projects, 12 times more than Manchester, which ranked second. But what accounts for this phenomenon? Let's dig deeper and discover three good arguments for why London is an excellent place to spend money.
The sky-high rental profits raised from housing are the primary driver of continuous investment in London’s real estate. According to Zoopla, rent in the London area averaged roughly £3,431 per month in October 2021. As a point of reference, the national average in the UK is £1,061 PCM, which is the most it has ever been, so this is a 223% increase from that.
London, the nation's capital, naturally receives the lion's share of foreign direct investment, which has fueled significant urban revitalization. Several major transformational projects have been underway in London since the 2012 Olympics, allowing the city to maintain its economic clout on the global stage. The works are the ones that will likely have the most impact on the city's future revitalization:
As for Thames mead, Redeveloping the Thames mead area over 30 years, construction will add 8,000 new dwellings, create 4,000 new jobs, and enhance 5 kilometres of riverbank and 7 kilometres of canals.
This luxurious apartment on the banks of the Thames is perfect for anybody who has ever dreamed of calling the river their home. This magnificent home boasts an impressive 3,862 square feet, making it ideal for a family. It's well furnished, with high ceilings and huge windows, and offers a stunning panorama of the London Eye.
This home in Ladbroke Grove is a shining example of exquisite interior design. Architectural details like vaulted ceilings and uncovered flooring complement natural wood and polished concrete to create an airy, light, and richly contemporary space.
Once a record-breaking year because of surging demand for properties after the lockdown was lifted, London's property market needs to catch up. The covid-19 pandemic has devastated London's economy, causing a steep drop in employment, a collapse in the production of new jobs, and a crash in the value of London's property market. The total damage to London's economy has reached £56 billion. The current economic crisis has significantly influenced the amount of money invested in London property.
The typical London home costs £756,917 right now. The value of a home in central London has decreased by more than 20% during the past year. The rental market in London had its worst annual decline in ten years. It takes 1.5 times as long to sell a home in London as it does everywhere else.
Although factors like selling price and property type are critical, a property's location may be the most crucial aspect in determining its profit potential. Monitoring hotspots is essential for those seeking long-term appreciation and the most significant potential and steady real estate income.
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A step by step guide to acquiring your property in London. Speak to one of our London experts if you need more information.
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