House prices in the London Borough of Barking and Dagenham have risen at a fantastic rate over the last few years but the area still remains one of the cheapest in the capital. In June it was revealed that the growth is an impressive 22.3% year on year, making the area the 5th most successful in the whole country.
The perfect sign that the area is enjoying incredible growth is the fact that the very first home valued in excess of £1 million was recently put on the market. This is the first property to break into seven figures and showcases just how far Barking and Dagenham has come in terms of values and demand.
The property in question is a large seven bedroom detached home in the sought after Strathfield Gardens. The location is fantastic, offering close proximity to Barking and Upney Stations, the high street, hospital, and two large green areas. It is also said to have historic bonuses to offer the successful buyer.
The home certainly is special and that is reflected in the price. With growth and demand expected to continue in the area more and more properties could follow and exceed the seven figure mark in the coming months. Even with this the average price for the area remains below £300,000 making the area one of the most affordable in the capital. This is why demand is so high and prices are being pushed up.
At Finefair we keep a close eye on property prices and demand in Barking and Dagenham. This allows us to offer the best services we can, whether it is our work as a lettings agent, property investment or management. We work closely with each client, providing our professional opinion and sharing the information we gather about conditions in the Borough. Our clients appreciate our attention to detail and commitment to offering a personal service.
If you have any questions about the property market in Barking and Dagenham please feel free to contact us for advice.