With the London property market continuing to grow, there have been many success stories. Some people have been making millions selling their London homes, making significant gains on their initial investment.
Though investors might double-take on seeing these prices, there is evidence that house prices are continuing to rise. According to recent data collected by Nationwide, the average price of a London house has hit a record quarterly high of £401,072. This figure highlights that the London property market goes from strength to strength and that potential investors should not miss out on the investment of a lifetime.
In August alone, figures released by the Land Registry highlighted that London house owners benefited from an average increase in value of £12,279 in a single month. This is an incredibly notable figure and highlights the unlimited potential for anyone looking at investment properties in London. The entire city is experiencing rapid growth, though there are a number of areas that, in particular, are rising above the rest.
Queensway is beginning to benefit from foreign investment, having been left behind in recent years, though some properties still remain which require attention. Giving attention, maintenance and an uplift, there is the potential for tremendous gains from the wealthy foreign investors looking to snap up properties. Brixton is another area to consider investing in, as it is becoming an increasingly popular place for young and new buyers. It’s important to focus on upcoming projects too. Southwark is seeing a lot of investment in new flats and housing in which an investment should be considered. The Crossrail project currently in development also sees properties in areas such as Brentwood, Burnham, Maidenhead and Slough being predicted price rises over the coming years. Battersea is seeing a planned Northern Line extension which will doubtlessly add to the prices. These are far from the only examples of places to consider when investing, but serve to highlight the endless potential in the capital.
If looking to invest in high-value areas such as Westminster, Kensington and the City of London, you should act fast. Many foreign investors are snapping up properties with the downside being that they are becoming “ghost homes”, properties left in a suspended state solely to accrue value. A smart investor will purchase a property in one of these highly sought after areas and either remodel it to add even more value or even look towards lettings.
We pride ourselves on helping potential investors, whether new to the property market or those looking to expand their portfolio, choose the best property for them. We can help manage existing portfolios, pay guaranteed rent, and review any properties that you have already invested in. If you’re planning to attend an auction to purchase a property, we also offer a specialist guaranteed rent service even before you purchase the property. If you are interested in getting help with your property in Havering, Newham, Ealing or any other area of the capital, make us your first choice.