Many areas of London are currently experiencing a wave of regeneration, resulting in potentially lucrative hotspots for landlords and renters. Investors and developers with properties in east London in particular are enjoying great benefits as the area continues to expand. There are now more Londoners residing east of Tower Bridge than to the west of the city, and the population of east London is expected to grow by 600,000 in the next fifteen years.
The population of east London began to rise after Stratford in Newham was selected to be the home of the Olympic Park, and the borough continues to experience expansion and rejuvenation. Property prices have increased by more than 300% in the last decade and they continue to rise. Properties in Newham rose by 22% in 2014, more than any other part of the country.
East London boasts the Canary Wharf banking zone and a thriving creative and digital community. The borough has evolved from an area linked with rhyming slang and dockers to a diverse and exciting community. Despite the increase in prices, the area is attracting large numbers of buyers, investors and tenants.
Culture has found its home in east London; according to estimates by the Whitechapel art gallery estimates, there are more than 7,000 artists living and working there. Corporate and creative professionals from many industries are making their home in the borough along with families of all sizes. There are a host of high end hotels, boutiques, farmer’s markets and restaurants including the famous Nobu chain. The region has also recently seen the relocation of the National Ballet from Kensington to Canning Town.
As more people migrate towards the east of the capital, it inspires the construction of better homes, and with exciting infrastructure projects such as Crossrail imminent, the allure of the East End is sure to keep growing. If you are looking for your next investment opportunity we can help you find the right property and provide you with premier property and block management in Tower Hamlets and all other areas of London. Our property specialists can offer you quality services and support and ensure you benefit from lucrative and trouble-free tenancies.