The best way to look at the property market in London is not as a single entity; instead it should be viewed as a series of micro-markets. Each of these should be considered on their own merits by buyers and renters. Remember that in each Borough for example there will likely be individual areas that are more costly or more affordable.
The micro-market in London that is said to have the best prospects all round for 2018 is Southwark. This is according to research done by a large scale property group. They list a number of reasons why this is the case. We have included details of some of them below. You may quickly see why lots of people are considering the investment properties Southwark has to offer.
The major reason the area is expected to become a property hotspot is the growth in the local economy. The impact of the huge £3billion regeneration project at Elephant and Castle is an anticipated 34% increase in local trade. A new shopping centre is being created and the Tube station will receive a new entrance.
Southwark has become a hub for creativity and is attracting businesses in the droves. This means that alongside renowned amenities such as Borough Market there are plenty of new attractions to enjoy such as shops, restaurants, pubs and cafes. This gives the area a thriving, cosmopolitan feel.
There are properties in Southwark at both ends of the ladder. As part of the Elephant and Castle project, 979 new homes will be built. An impressive 342 of these will be affordable. On top of this there are plenty of luxury apartments being created, including in One Blackfriars.
As you can see Southwark has a huge amount of potential and could be the hotspot for 2018. It is definitely worth considering the opportunities for investment properties in the area.
If you would like assistance with searching the market or considering what benefits it offers, the Finefair team can help. We have a lot of experience in the area and deliver an unparalleled level of support. Contact us to discuss your requirements.