Emoov recently released data for house price growth in the year to December 2016. The findings are interesting, showing that the property market may be back on the right track with encouraging rises in prices.
According to the data London saw relatively weak growth in the period as a whole. Once again the areas with the highest growth were in outer Boroughs including Barking and Dagenham, Waltham Forest and Bexley (all of them had price rises in the teens). Inner London had a more challenging time with Hammersmith and Fulham even seeing a 2.1% drop in prices.
As a whole, outer London saw prices rise by 7.87%. Inner Boroughs were marginally behind with just a 6% rise. In both cases there were some areas that performed much better than the average.
One of the inner areas that beat the 6% growth is the City of London. They posted a 7.08% increase, seeing over £50,000 added to the average price of a home in the Borough. The growth is interesting because the area is primarily thought of as a business district. Efforts are being made to help change this though, encouraging more people to think about living in the area rather than commuting for work but living in an outer Borough.
There are numerous attractions for living in the City of London. Firstly it is very well connected thanks to the huge number of people that travel to and from the area for work. On top of this there is an array of restaurants to cater for those workers. In addition more work is going in to creating nightlife for the area, ensuring it doesn’t all go quiet when the offices close.
At Finefair we understand the things that attract people to choose to live in the City, whether they are owner occupiers or renting. We are on hand to provide services to each of them, ensuring we offer the very best support we can.
One thing we stand out for is being the best provider of block management the City of London has. We strive to deliver the maximum value and have the skills to manage and of number of properties. If you would like to learn more about why having us take care of multiple homes for you is a great idea, please get in touch.
