The property market in London is immensely competitive and attracts a hugely diverse range of buyers, each with their own specific criteria. One thing that most people targeting the area will need to consider is the transport links. These are very important because of the sheer size of the city and the need to be able to move around freely. The presence of transport links such as Underground stations and bus routes can transform areas into property hotspots.
When considering transport links in London, it is always wise to look ahead, especially if you are planning to make a long term investment. It is crucial to consider how access to public transport will change over time. One area may seem unattractive now because of poor accessibility, but could receive a new bridge, train station or bus route within the next few years and be completely transformed. It is important to keep this in mind, particularly in London where networks are constantly being updated.
In order to ensure you target the right areas and stay ahead of the competition, keep an eye on which areas will benefit from infrastructure improvements. Crossrail is a fantastic example of this. When the new rail development was first announced, the areas that will benefit from new and expanded stations saw prices rise. The increase in value has continued and nearby areas have seen a knock on effect on demand and prices too.
Looking ahead, there are a number of prospective projects that could create brand new hotspots from 2016 onwards. Old Oak Common in West London could prove to be one of these if plans go ahead to transform the former train depot into a new transport hub. The regeneration could result in new homes and boost demand in the immediate area and surrounding areas like Acton and Harlsden.
Traditionally the North shore of the Thames had the highest demand and the South lagged behind. This gap began to close as commuters started looking for areas where their money could go further, but which would still leave them within a short trip of the centre of the city. The gap could close even further in the coming years with 13 new Thames crossings being proposed. These would increase connectivity in a number of areas, including in east London where the current infrastructure is poor.
If you are planning on buying a property and want to stand the best chance of earning a healthy return in the future, look closely at the transport links and consider what buyers in the future will be looking for. We can help you to make the right decisions when it comes to property investment in Barnet and all other London Boroughs, identifying which areas have the most to offer both now and in the future.