London is such a huge property market that it is often better examined by breaking it down into specific Boroughs and even individual areas. By doing that people can determine which locations meet their needs, whether they are looking for a hotspot where they can invest and make a good return or an affordable destination to get on the property ladder.
At any given moment London can be home to numerous hotspots. This can make it tricky for investors to decide where to purchase. There is also a second big impact as a result of high demand for homes in an area; it puts a lot more pressure on amenities and services.
Merton has struggled since becoming one of the most popular hotpots in London. There is high demand amongst families because the Borough has some of the most affordable property prices in the capital. The biggest impact of this is that there is more competition for school places. The Council has had to take action to ensure schools can deal with the amount of demand.
One strategy the Council has chosen to help deal with demand for places is to create a new school on High Path estate. It will be opened officially in 2020, creating more choice for residents in Merton and the surrounding areas. A temporary school will open in Whatley Avenue in 2018 whilst the construction work on the permanent buildings is completed.
On top of this the existing Harris Academy Merton will be expanded to boost capacity. From September 2017 there will be 300 extra places on offer.
The move to resolve schooling problems will be great news for families in the area as well as those looking to purchase homes in Merton. It could even help to drive up demand further in the future.
At Finefair we monitor hotspots in London very carefully to ensure we can provide the best advice to our clients and help them to find the right properties. We look beyond the figures and take into consideration access to all kinds of amenities too. Our broad range of services includes council leasing in Merton and various types of management.