The house prices of London are constantly making the news. Generally speaking, the housing market is relatively healthy in many areas of the capital, particularly outer boroughs. These areas aren’t necessarily the first boroughs that come to mind when an investor is looking to enhance their portfolio, but they are certainly beginning to come into their own as reputable areas for investment, and should definitely be considered when you are in search of suitable properties.
Recent figures have indicated a rise of close to 20% across several outer London boroughs in the past three months. In Barking and Dagenham, prices rose 19%; in Brent they rose a respectable 17%; and prices in Sutton saw a decent rise of 18%. These are in the midst of a general lull in house prices. That being said, however, year-on-year prices grew by 3.3% in May, and London house prices remain 39% higher than their 2007 peak.
These figures show that the outer London boroughs are experiencing decent growth. When compared to some notable lulls in prime London property, there is certainly room for any investor, new or veteran, to snag some property for a low price. Given the need for housing in London, an investment at this stage could certainly be the wisest option, as prices could still continue to rise.
This is good news for those looking to purchase investment property in London. London house prices have been slightly unstable in the past months, with prime central London property in particular taking a hit, but these figures show that those looking for a relatively low cost investment can make one without worrying about their money going to waste. Of course, all investments should be undertaken carefully, and our team can help you with finding the best investment for your money. We’re dedicated to lettings, property and estate management in Sutton and all outer London boroughs, as well as every other area of the capital, and can provide the help you need with your portfolio.