London property hotspots: Three up and coming regions to invest in
The world of property investment can be a minefield at the best of times. But in Britain’s capital? It has the potential to be more complex than the London tube map. London is undeniably the cultural and financial centre of our island nation, and that is reflected in its property prices.
Like many areas of the United Kingdom, property prices in London have grown exponentially in the past few decades. In more recent times, however, London moved well beyond any other city or region in the UK for property prices – and continues to do so.
So why invest in the area? Well, aside from the reasons outlined above, like culture and convenience, the reality is that the appreciation of mere bricks and mortar in London continues to outstrip much of the stock market, and certainly the base interest rate at your local bank or building society. Of course, there is also the always attractive prospect of renting out your property in the capital, which, if you choose the area correctly, can provide some of the best yields in the country.
Here’s where sold.co.uk comes in. The online estate agent, which boasts the admirable claim of being the UK’s only ‘totally free’ estate agency, may have solved London’s investment quandary by producing an incredibly handy interactive London property prices map, built around the city’s tube stations.
The Most Expensive Houses for Sale in London – By Tube Line
“This map is an invaluable resource for Londoners who are looking to get onto the property ladder but are unsure where to start,” Sold.co.uk’s chief executive Elliot Castle explains the driving motivation behind the map. “This means they can quickly identify areas near major underground lines within their budget, to help focus their search.”
By providing a literal bird’s eye view of the city, Sold.co.uk allow would-be-buyers to scan the landscape and narrow down their search, based on a combination of location and average property price. The result is an invaluable resource for those looking to identify areas to study in greater detail.
Whether you’re looking to add to your diverse property portfolio, buy-to-let, or simply find the right fit in the capital, Sold.co.uk have provided a platform to begin your search from. For those of you short on time, or inspiration, we have used Sold.co.uk’s interactive pricing map, alongside our own knowledge of the capital, to identify three areas with serious investment potential.
Located south of the river, in the SW17 postcode, Tooting is in the middle of quite the resurgence – and has enough of the charming characteristics to make us believe it’s an area on the up.
According to Sold.co.uk, the average house price near Tooting Bec station is £623,236. For London, this represents something on the more affordable end of the spectrum – particularly when you consider Tooting’s location in the aspirational borough of Wandsworth, a stone’s throw from far more expensive areas like Wimbledon.
Much of the area’s resurgence has been attributed to a Lonely Planet article in 2017 citing it as one of the 10 coolest neighbourhoods in the world. The ‘curry mile’, referencing the district’s array of superb curry houses, trend-bucking high street and range of independent bars and craft houses seem to have resonated with tourism trend-setters, while also retaining the characteristics that make it the quintessential South London experience.
Another area renowned for its authenticity, Bethnal Green might be dropping the ‘shabby’ in ‘shabby chic’ in the coming years, with the local council developing a master-plan to see it rival Shoreditch with a range of swanky micro-cafés and bars popping up in the coming years.
Located in a fairly accessible part of East London (Zone 2), Bethnal Green is a treasure-trove for those with a little imagination, or patience – but ideally both. According to Sold.co.uk, houses are available at an average of £477,687 – but that is sure to change if mooted developments take place.
According to London’s Evening Standard, Hackney is the fastest-rising region of the city, in both house prices and economic growth. Known as ‘tech city’, the centrally located East London borough is on the rise.
Digital companies are flocking to the region, occupying the area known as Old Street Roundabout. Predictions indicate that GDP of the region will grow at around 18% in the next four years – the highest of any area inside the capital. House prices are rising in the area, around 4.5%, so there is an opportunity at play for a property investment in the area – as new jobs will bring young professionals seeking a place to live.