Sutton recently made it on to the list of the 20 cheapest post codes in the whole of London. The new league table was based on data from Countrywide, examined by Bairstow Eves. They looked at the most affordable 25% of post codes, examining price growth in the last year, two years, and five years to see which locations had seen the biggest rise in values but still remained affordable.
Of the top twenty Sutton came in at number 16. Over the past five years the growth in house prices in the area has been an impressive 60%. This pushed the average price to £361,593 at the time when the data was collected. Surprisingly, of the 20 areas this was the fourth highest figure.
The cheapest area that has seen the highest rise in prices in the last five years is Abbey Wood in south east London. At 76% it is marginally ahead of Plaistow. The average house price in the area had grown substantially but still sat at £309,561. Only Thamesmead and Dagenham (60% and 66% growth respectively) offered a lower average.
The list of twenty areas shows where investors would be wise to start looking for their next opportunities. These areas remain affordable, even with the high demand. As the popularity remains and supply cannot keep up, it is expected that prices will rise even more. This offers good prospects for the future.
At Finefair we work closely with countless landlords. Our services are focused on offering a myriad of different options, letting each client choose the right one for them. We understand that everybody is unique and will have bespoke goals in mind. We can support them with exploring these and achieving them.
One service we offer is council leasing in Sutton. It is a good option for people who want to invest in a property and hold on to it with minimal responsibilities for finding tenants and management. By putting it in the Council’s hands they take on this role and will ensure rent is paid on a monthly basis without fail.
If you are an investor trying to find which area is right for you or which service will provide the best safest returns please contact us for help.