The prime housing market in the UK is continuing to cool according to the latest figures. The main cause seems to be that overseas investors are being increasingly cautious when it comes to investing in homes in London.
The slowdown in the market has resulted in a quite surprising number of flats with values over £1million being left empty. According to figures from an online estate agent, there are 585 one bedroom flats available in this price bracket. An incredible 27% of them are located in the Borough of Lambeth, ranking it above traditional prime markets Westminster (23%) and Kensington and Chelsea (22%).
There have been a number of high profile developments in Lambeth over the last few years. The area has benefited greatly from the big rise in prices in Central London. This has sent investors slightly south of the river to find more opportunities. The area also benefits from more available space, allowing further new developments.
The great thing about Lambeth is it has some outstanding transport links, especially in the north of the Borough. This is because it is just across the river from Westminster and east of Battersea.
Another major selling point for Lambeth is flats in some high rise developments can offer great views of Central London. This can add a lot of value, particularly for overseas investors who want to enjoy every aspect of every stay in the city.
The large number of available properties in the price bracket means that investors could find some opportunities for a deal. Prices in many locations have already come down due to the drop in demand. This could be good news for anyone in a position where they want to invest.
Finefair strives to offer useful services for investors. We are flexible and provide the highest quality property management Lambeth has. Whatever the specific needs, we have the skills and experience to manage properties effectively.
If you are an investor looking for a property you will only inhabit temporarily we can manage it. Alternatively we can arrange management for properties that are to be let out. In both cases we achieve fantastic standards.
To find out more about why we are the best for property management Lambeth investors can work with, simply get in touch.