Deciding where to buy or invest in a property in London is always a challenge. And trying to predict where is going to be then next property hotspot depends on lots of different aspects.
After all, we all want to be the ones who manage to purchase property in an area that’s at the beginning of an upward swing when it comes to desirability.
With that in mind, the things we need to be aware of when searching for a property in a London hotspot include the following influences:
- Significant new housing developments
- ‘Gentrifying’ or regeneration of urban areas
- Upgrades to transport options
So taking this into consideration, let’s take a look at the areas in London that the experts are predicting are up and coming.
Balham, in South London is currently the city’s leading hotspot. House prices shot up here during 2014, rising faster and higher than any other area in London.
It’s a fabulous location, with great restaurants, shops and facilities. Transport links into the centre of town are excellent, only taking around 16 minutes by Tube.
House prices might well have increased, but there are still some good deals to be found. And it’s a great suburban place to live, with low crime figures, plenty of open spaces and some excellent schools.
The desirability of the area makes it a pretty sure fire bet that prices will continue to rise over the next few years. So getting on the property ladder now seems like a pretty good investment for such a sought after area.
This up and coming area has come far from its previous claim to fame of being a concrete jungle of council houses. Situated between White City and Ladbrook Grove, the North West London area of Notting Dale is undergoing extensive regeneration.
Along with housing developments, the area is getting its fair share of trendy coffee bars, eateries and shops moving into the area, making it a desirable area in which to purchase property.
Islington is an area that many property analysts are predicting will see decent price rises in the years to come. This densely populated area is already considered a trendy place in which to live, and being in Inner London, offers an easy commute to virtually anywhere in the city.
There’s a wonderful choice of schools in the area, and every facility you can think of is literally on your doorstep.
It’s thought by those in the know that Islington may well see increases of over 33% in the next five years. This makes it a great choice to buy – whether you’re looking to move in yourself, or purchase a property with the intention of renting it out to tenants.
The East London district of Leyton has made its name thanks to the 2012 Olympics. Granted, it might not yet be one of the most attractive areas of London, but there are certainly some advantages to owning property here.
Another big plus point is that it’s located in Zone 3 on the London Underground, so only takes around 27 minutes to get to the heart of the City of London.
Leyton High Street has also undergone extensive modernisation, and is now a wonderful place for an afternoon’s retail therapy.
Properties are a nice mixture of Victorian and Edwardian terraces and new developments. And by London standards, the area represents outstanding value for money. No wonder it’s becoming a magnet for property investors…
Hornsey’s claim to fame is its closeness to Alexandra Palace Park. Once again, the area boasts traditional Edwardian and Victorian houses, along with some good new housing developments, such as New River Village.
The area hasn’t yet seen its full potential of regeneration: the High Street is ripe for development, and experts believe that this is one of the next up and coming areas that will see significant property price rises.
Sydenham and Peckham
The South London districts of Sydenham and Peckham have probably been overlooked by investors for far too long. But good transport links and the arrival of more upmarket retailers, coffee houses and restaurants mean this is definitely a region that’s going to prove popular in the future.
In fact, it’s already proving a haven with those who can’t afford to purchase more centrally. And being as it only takes around 15 minutes to get to London Victoria by train, this makes it prime commuter territory.
There are some charmingly quiet residential streets, most with houses of Victorian, Georgian and Edwardian architecture.
Savvy property purchasers also know that, according to data from The Telegraph, the time of year you buy can influence the price you pay. For instance, did you know that the most advantageous buying times are between September and January, when the weather is at its worse?
Another tip for searching for property for sale in London is to check on Facebook, as many people now use the social media site to advertise their property.