New data from Rightmove revealed that asking prices across the UK were cut in January. This is seen as a bid by sellers to entice New Year buyers. The national average for reductions is 1.4% but not all areas have reduced prices. In fact some hotspots continued to rise in value.
In London, two of the hottest areas are in Bexley. The Borough has consistently seen positive price growth because of high demand due. This is a result of the affordable prices in locations in Zones 5 and 6.
The area with the highest growth in London in the last year is Sidcup. House prices have grown by 8.3% in the year, reaching an average of £443,000 in January 2018. Not surprising it is proving to be one of the best areas for investment properties Bexley has to offer.
The second spot on the top ten list was also taken up by a town in Bexley; Erith in Zone 6. Growth here was slightly behind Sidcup but the huge difference between the two is the values. The average price in Erith grew to £321,000, slightly over half of the average for the whole of London.
The results showcase that Bexley remains popular, particularly areas in Zones 5 and 6. Investors should consider these locations, especially those in close proximity to Tube stations.
Finefair helps people who are looking at the investment properties Bexley has to offer. There are plenty of opportunities in the Borough worth exploring. Our team can work with you to get an idea of your strategy and provide the best level of service. We provide ongoing management services where necessary, whether it is single properties, blocks, or estates.
If you would like to discuss anything with us please feel free to get in touch. We are knowledgeable and understand the array of different options there are, from private letting to council leasing. With us you won’t be limited in terms of the course you can take.