In January consumer group Which ranked Barking and Dagenham as the “baby boom” hotspot of London. The area had the highest birth rate at 19.1 per 1,000 residents each year. This put it ahead of second placed Newham (18.7).
Alongside the high birth rate the Borough is also home to the most affordable house prices in the capital. At £287,978 according to the figures used by Which the Borough is the only area in London where the average price for a home is under £300,000. It is not surprising that the most affordable area is so attractive to new families.
On top of this Barking and Dagenham Council has been working hard to transform its image over the last few years to make it more family friendly. This has seen a wide array of regeneration and development projects taking place including Barking Riverside. In mid January the local authority improved an overhaul of the Vicarage Field shopping centre to attract more retailers and serve the needs of residents.
The Borough has a lot of features that are attractive to families including good schools and great open spaces. The Chase nature reserve stands out in the latter because it is home to an array of wildlife due to the diverse habitats. Eastbrookend Country Park also offers a huge 84 acres of space, including wildflower grassland and woodland.
All of the above factors make Barking and Dagenham attractive to families, whether they are looking to buy or rent. Demand for the latter attracts investors and sends them looking for quality investment properties in the area that they can make healthy returns on. With demand continuing to be strong and pushing prices up it is wise to purchase homes in the area as soon as possible.
At Finefair we offer great support to investors of all shapes and sizes. There are plenty of options to choosing from when it comes to finding tenants. You can let privately or choose council leading if you want to take advantage of one of their schemes. On top of this we provide guaranteed rent in Barking and Dagenham, providing assurances on the income you make.
To discuss the options further please contact us.