The latest figures from the Land Registry showcased just how much the Boroughs of Newham and Waltham Forest have benefitted from the Olympic effect. Although it is now five years since the event was held in London house prices in areas that saw regeneration in the lead up to it have continued to rise.
The Land Registry figures show that house prices in Newham rose by an average of 14% in the year to January 2017. The rise pushed the average value to £371,734 at the time. In Waltham Forest the rise in the same period was 15.7%.
Across the whole of the UK only two local authority areas saw higher growth in the period than the two London Boroughs. The Shetland Islands saw a rise of 21.9%, topping the list. Na h-Eileanan in the Outer Hebrides in Scotland was slightly behind but secured second place. Waltham Forest was third and Newham placed fourth. The top five was rounded out by Medway in South East England.
Before the Olympics Newham and Waltham Forest were deemed to be two of the six Boroughs that were in need of regeneration. A lot of work was done in each of them, improving amenities, updating the infrastructure, and creating new homes. The legacy from the event is still being felt today.
As a result of the work above many first time buyers, families, and investors have been attracted to the two London Boroughs. The popularity looks set to continue, pushing the house prices up further in the future.
At Finefair we offer services across both Boroughs. Our team can provide everything from guaranteed rent to property management in Newham and Waltham Forest. Each service is bespoke, ensuring it reflects the specific needs of the client. That way we can maximise value and ensure the advice we offer is appropriate.
If you are an investor or a landlord looking for property management in Newham we are confident we have the perfect solutions for you. Our experience and attention to detail means you are in the right hands. Please get in touch to discuss your needs and find out what we can offer you.