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 youโ€™re snooty about buying property south of the river, think again.

Why? Because Nine Elms boasts Britainโ€™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 โ€“ through the AIR!

Property punditโ€™s view:

Matthew Fine, managing director of property agent Hunters:

โ€œThe 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.

โ€œHowever, 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.โ€

Average property value in Nine Elms: ยฃ622,819

Detached: ยฃ777,136

Semi-detached: ยฃ762,252

Terraced: ยฃ790,181

Flats: ยฃ690,034

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 ย by 20% by way of loft conversions or extensions, under permitted development.

From a decent curry place to beer gardens, thereโ€™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 itโ€™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.

Whatโ€™s more? The area boasts the Tooting Bec Lido, one of Britainโ€™s oldest and largest pools by surface area in the UK.

Property punditโ€™s view:

Matthew Fine, managing director of property agent Hunters:

โ€œWhilst 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.โ€

Average property value in Tooting: ยฃ576,781

Detached: ยฃ1,592,324

Semi-detached: ยฃ1,131,511

Terraced: ยฃ794,062

Flats: ยฃ459,595

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 Sadlerโ€™s Wells Theatre.

Dog walkers, runners and lovers of open spaces will appreciate Highbury Fields at the end of Upper Street. Itโ€™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 punditโ€™s view:

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

โ€œThis 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.

โ€œIn 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: ยฃ776,822

Detached: ยฃ1,520,606

Semi-detached: ยฃ1,719,746

Terraced: ยฃ1,419,928

Flats: ยฃ600,993

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 ยฃ20m Botwell Green Sports and Leisure Centre which opened in 2010.

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

Property punditโ€™s view:

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

โ€œI 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 ยฃ250m Old Vinyl Factory redevelopment, which will bring 4,000 new jobs to the area.โ€

Average property value in Hayes: ยฃ290,839

Detached: ยฃ484,848

Semi-detached: ยฃ377,721

Terraced: ยฃ336,891

Flats: ยฃ235,861

5. Queenโ€™s Park

Queenโ€™s Park Library, Harrow Road

If youโ€™re planning to buy in Queenโ€™s Park, youโ€™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.

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

According to property agents Marsh & Parsons, Queenโ€™s Park is among the top โ€œplaces to watchโ€ in 2016.

Property punditโ€™s view:

Peter Rollings, CEO of Marsh & Parsons:

โ€œQueenโ€™s Park is providing a credible โ€˜next stepโ€™ 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.โ€

Average property value in Queenโ€™s Park: ยฃ844,078

Detached: ยฃ2,549,346

Semi-detached: ยฃ1,775,704

Terraced: ยฃ1,196,057

Flats: ยฃ547,197

6. East Ham

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

And Newhamโ€™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 Hamโ€™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 punditโ€™s view:

Property agents Ludlow Thompson:

โ€œEast Ham is a predominantly working class area consisting mainly of Victorian terraces.

โ€œEast Hamโ€™s properties are mainly terraced Victorian and Edwardian often in attractive tree-lined avenues.

โ€œWith the 2012 Olympics held in the borough, East Hamโ€™s Leisure Centre with swimming pool and climbing wall amongst other amenities is a great place to keep those inspired by the worldโ€™s sporting stars entertained.

โ€œThis 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).โ€

Average property value in East Ham: ยฃ274,206

Detached: ยฃ390,523

Semi-detached: ยฃ358,182

Terraced: ยฃ330,128

Flats: ยฃ221,663

7. Woolwich

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

The new ยฃ1.2bn 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 punditโ€™s view:

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

โ€œWoolwich 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.โ€

Average property value in Woolwich: ยฃ278,103

Detached: ยฃ451,592

Semi-detached: ยฃ377,553

Terraced: ยฃ340,451

Flats: ยฃ307,966

Now read:

Leave a Comment

CLOSE AD