London’s an ever-changing property market. But, one thing’s for sure – people are always going to want to live in the capital. With new up-and-coming areas every year, however, it can be difficult to determine where to invest in. In this guide, we explore the property hotspots for 2019. Whether you’re looking to live in one of these districts yourself, or rent it out as a buy-to-let landlord, you’ll reap the rewards. Here we explain why…
Hammersmith and Fulham
This borough was one which increased in price from 2018 to 2019 – by 1.06%. With properties now averaging at £732,206, it’s one of the more affordable affluent areas in London. Boasting a unique lifestyle, with plenty to do for both families and young professionals alike, it’s no wonder that this West London area is so popular. A number of big-name businesses also have premises here.
The properties available also suit different demographics and range from studio flats to five or six-bedroom houses. If you’re a landlord, then you’ll be met with incredibly high rental yields – the average is £2,005 – the fifth highest of all the boroughs in London.
With house prices rising by 4%, Newham may be slightly more expensive than previous years, but its average £343,799 price tag makes it the second cheapest borough. Though, this may not last too long – up-and-coming areas within the borough like Royal Docks and Canning Town are pushing these prices up.
If you’re in a position to buy, grab a steal whilst you can. If you purchase as a landlord, rental yields are in the mid-range, but are expected to move into the higher bracket. With 3,800 extra homes in the pipeline, it’s also expected that over 8,000 jobs will be created as a result of the increasing population.
One area that saw a big dip in its average price was that of Tower Hamlets – 5.95%. With the likes of Canary Wharf and Isle of Dogs occupying it, it’s a borough to be capitalised on. The skyscraper scene naturally pulls people in, plus there’s ample jobs to be had at the financial hub. Add easy transport connections to central London, and the now more affordable houses, and it truly is a hotspot.
For landlords, the average rent is £1,762. You could maximise on the young professional appeal of living in a sky-high apartment, or families who like to settle in magnificent period properties.
Kingston upon Thames
The borough of Kingston upon Thames saw prices drop by 3.7%. Favoured for its lower price tag than neighbouring areas, its attractive riverside setting is appealing to young families and those just starting out in life.
Whilst many families choose to settle here because of its Ofsted ‘good’ and ‘outstanding’ schools, it’s also a particularly keen rental area. Kingston University results in a high student population, and retirees often opt for the area too. The property choices are fantastically varied – from terraces suitable for large student houses, to smart apartments.
Once you’ve decided on the perfect property hotspot for your needs, you’ll then be met with finding the right property, along with all the administration work involved. Kingsley Hamilton are happy to take this burden off your hands. To discuss the specific aspects we can help you with, call our friendly team on 020 7078 0214 or email email@example.com.