One of the biggest trends in the property market is the rise of micro-neighbourhoods. Residents are increasingly viewing places as a series of smaller districts rather than a larger area. This trend is being seen in cities all around the world, particularly across America and in London too.
There are a number of things that make micro-neighbourhoods so popular. Firstly they can have much more character than a larger district. On top of this the smaller size creates a community feel and sense of loyalty amongst the people living there. Both of these can result in really big benefits.
Micro-neighbourhoods can range in size from just a single plot of land to a handful of streets. With space in large cities so limited, plots of free land have the potential to be redeveloped to create new housing. These tend to be viewed as individual neighbourhoods because they stand apart for a number of reasons such as the design of the properties and the type of residents attracted to them.
Harrow in London is a great example of how new developments can quickly become established as their own separate neighbourhoods. Two projects stand out in this regard. Harrow View West is the redevelopment of an old Kodak printworks, seeing the creation of 1,800 homes when the work is completed. The area stands out for the modern designs of the properties. They have a European feel that sets them aside from other residential architecture.
Another notable project that has created a micro-neighbourhood is Redrow in Lyon Square, Harrow. The development has 310 flats and offers a number of facilities for residents including concierge, underground parking and a gym. Developments like this are interesting because a single block of homes can become its own neighbourhood.
The creation of micro-neighbourhoods offers a number of opportunities for investors. People will have a chance to purchase homes or even several investment properties if they wish. New builds can enjoy a premium on prices when they are finished, especially in areas where there is high demand for homes and low supplies. This can attract buyers.
At Finefair we offer a range of services across London. For people looking to purchase properties as an investment we can provide everything from lettings to professional management. Each client will receive a professional, personalised service to suit their needs.
When it comes to micro-neighbourhoods our ability to manage several properties in a single area can deliver great value for investors. We are a leading provider of block management in Harrow and would be pleased to offer the perfect service for investors.