Home Commercial Property Where to buy property in London in 2016 and 2017

Where to buy property in London in 2016 and 2017

by LLP Editor
6th Jan 16 11:56 am

Read: Where to buy property in 2017

1. Nine Elms

If you’re snooty about buying property south of the river, think again.

Why? Because Nine Elms boasts Britain’s biggest housing developments with nearly 20,000 units under construction.

What made this previously no-go area hot is the Battersea Power Station redevelopment along with two new Tube stations.

Still not convinced to buy here? Sample this property development in Nine Elms where you could swim from one building to another – through the AIR!

Property pundit’s view:

Matthew Fine, managing director of property agent Hunters:

“The obvious reason Nine Elms is a property hotspot is the urban regeneration of the area, from Battersea Power station to the swathe of new buildings in Nine Elms and the new underground station along with the American Embassy relocating to the area.

“However, since the Autumn Statement and the announcement of a 3% extra stamp duty levied on buy-to-let or second home purchases in the UK, there are rumours that a number of overseas investors will be looking to sell on their contracts rather than have to complete. We believe that a canny purchaser will be able to pick up one or two well-priced properties in this area next year, ripe for growth.”

Average property value in Nine Elms: £622,819

Detached: £777,136

Semi-detached: £762,252

Terraced: £790,181

Flats: £690,034

2. Tooting

Homeland of Labour mayoral candidate Sadiq Khan, Tooting is dubbed as an ideal place for people to get on the London property ladder. Tooting neighbours Wimbledon and lies within Wandsworth and Merton boroughs, making it a great place to look at buying property. In these boroughs you can often develop property  by 20% by way of loft conversions or extensions, under permitted development.

From a decent curry place to beer gardens, there’s something for everyone in the area.

What makes this south west area of London a property hotspot is how well-connected it is to central London. Hop on the Northern line and it’ll take you approximately 25 minutes to get to Tottenham Court Road or Bank. Take the main line and you can get to St Pancras in under 40 minutes.

What’s more? The area boasts the Tooting Bec Lido, one of Britain’s oldest and largest pools by surface area in the UK.

Property pundit’s view:

Matthew Fine, managing director of property agent Hunters:

“Whilst Clapham, Dulwich & Brixton have seen vast changes over the last decade this little area of south London feels as if it has been left behind, but that is all about to change with new transport links into Central London. Whilst the gentrification of the afore mentioned areas has already happened it has yet to take place in this part of town and we think this area is a great place to start your journey on the property ladder.”

Average property value in Tooting: £576,781

Detached: £1,592,324

Semi-detached: £1,131,511

Terraced: £794,062

Flats: £459,595

3. Islington

Buying a property in Islington is an expensive investment, but its surroundings make up for it.

Theatre lovers are spoilt for choice, with not one but four theatres to choose from: the Kings Head Theatre pub, the Almeida, the Tower Theatre and Sadler’s Wells Theatre.

Dog walkers, runners and lovers of open spaces will appreciate Highbury Fields at the end of Upper Street. It’s the largest park in Islington and features numerous highlights including an orchard, wildlife area and a water play feature.

Islington is also home to an abundance of bars, restaurants and shops. Those who truly love to shop will appreciate the markets available here. Not only is the borough close to Camden markets, it has a weekly Wednesday market on Upper Street as well as a Sunday Farmers market.

Property pundit’s view:

Hugh Grover, an estate agent located in the borough of Islington:

“This area is a huge hit for anyone wanting to live close to Central London. Not only is it a short tube journey from the hustle and bustle of the English capital, Islington is an exciting borough itself.

“In fact, in a survey carried out by London city guide Time Out, Islington was voted one of the best places to live in London. The borough came in at number three, the only area in North London to make it in the top 10.

Average property value in Islington: £776,822

Detached: £1,520,606

Semi-detached: £1,719,746

Terraced: £1,419,928

Flats: £600,993

4. Hayes

If you want to cash on the Crossrail boom then homes in Hayes are investment gold.

Up to 10 services an hour in each direction will run from Hayes & Harlington station from 2018. The area also benefits from great transport links to the capital with Heathrow airport five minutes away and Paddington station just16 minutes away.

The area boasts a buzzing high street and the £20m Botwell Green Sports and Leisure Centre which opened in 2010.

Galliard Homes reckons the area is great for buy-to-let investments too.

Property pundit’s view:

Rob Weaver, director of investments at property crowdfunding platform, Property Partner:

“I have high hopes for Hayes. Properties here are rising fast from a low base, with the localities also benefitting from significant regeneration. Hayes, which used to be largely industrial, is on its way to becoming a business and high-tech hub, clustered around the £250m Old Vinyl Factory redevelopment, which will bring 4,000 new jobs to the area.”

Average property value in Hayes: £290,839

Detached: £484,848

Semi-detached: £377,721

Terraced: £336,891

Flats: £235,861

5. Queen’s Park

Queen’s Park Library, Harrow Road

If you’re planning to buy in Queen’s Park, you’ll be able to choose from a variety of Victorian and Edwardian semi-detached houses, terraced buildings and period conversions.

The area has two thriving high streets – Salusbury Road and Chamberlayne Road – that boast a number of
chic cafes and independent shops.

Queen’s Park is on the up because of its convenient transport links including the 20-minute Tube journey from Queen’s Park Tube station to Oxford Circus.

According to property agents Marsh & Parsons, Queen’s Park is among the top “places to watch” in 2016.

Property pundit’s view:

Peter Rollings, CEO of Marsh & Parsons:

“Queen’s Park is providing a credible ‘next step’ for those priced out of North Kensington and Little Venice, and is well serviced by the underground and over -ground rail connections directly into Euston.”

Average property value in Queen’s Park: £844,078

Detached: £2,549,346

Semi-detached: £1,775,704

Terraced: £1,196,057

Flats: £547,197

6. East Ham

The London borough of Newham saw the fastest house price growth of any part of the UK in 2015.

And Newham’s star property zone is East Ham where demand for flats and houses rose 26% in the last six months of 2015.

Just a 30-minute Tube ride away from central London, the area will benefit from new homes as West Ham Football Club moves from Upton Park to the Olympic Stadium.

East Ham’s high street boasts restaurants serving a variety of cuisines, thanks to its multi-cultural communities.

The area is known for its green spaces including the East Ham Nature Reserve which is a sanctuary popular with children for its birds, insects and lizards.

Brampton Park is another star attraction of the area for its multi-use games area, paddling pool, table tennis and trim trail.

Property pundit’s view:

Property agents Ludlow Thompson:

“East Ham is a predominantly working class area consisting mainly of Victorian terraces.

“East Ham’s properties are mainly terraced Victorian and Edwardian often in attractive tree-lined avenues.

“With the 2012 Olympics held in the borough, East Ham’s Leisure Centre with swimming pool and climbing wall amongst other amenities is a great place to keep those inspired by the world’s sporting stars entertained.

“This bustling area attracts those that like the vast array of open green spaces and affordable properties. The Underground Stations of East Ham and Upton Park are both on the District and Hammersmith & City lines. (Zone 3).”

Average property value in East Ham: £274,206

Detached: £390,523

Semi-detached: £358,182

Terraced: £330,128

Flats: £221,663

7. Woolwich

Two key reasons Woolwich has made this list – the Royal Arsenal Riverside development and Crossrail.

The new £1.2bn scheme has put over 5,000 new homes in the area in addition to a new public space and library.

The council is also planning to refurbish run-down estates in the area to make room for new homes.

The arrival of Crossrail in Woolwich has also helped making Woolwich a great place to buy property.

From 2018, up to 12 services an hour will allow passengers to travel to Canary Wharf, the City and the West End without having to change trains.

Property pundit’s view:

Rob Weaver, director of investments at property crowdfunding platform, Property Partner:

“Woolwich is rightly touted as potentially the biggest Crossrail winner. Gentrification of this area will be slower, as regeneration here is not broadly-based but concentrated into areas like the Royal Arsenal development. However, with prices definitely in the affordable bracket, I can see a huge upside to investing in this underrated pocket of London.”

Average property value in Woolwich: £278,103

Detached: £451,592

Semi-detached: £377,553

Terraced: £340,451

Flats: £307,966

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