Yield hungry and a canny buyer of London real estate? In the game of investing in property, there is nothing more satisfying than knowing that you have spotted the next new hot spot. But how do you get an edge in this fast moving city? With developers looking further and further afield to identify new trends and build homes for the young and vibrant London workforce, where should you consider putting your money to work?
The traditional post code fixation of young buyers has quickly dwindled away following the credit crisis as most of the prime central London property market is now well out of reach for most first time buyers. This has created a new wave of area regeneration with young professionals flocking to boroughs further afield and bringing with them their sense of aesthetics, comfort and also their needs.
In a 3 part series, here are the first 5 areas which we have identified as the new up and coming boroughs to watch out for in London.
1 Bayswater & Queensway
Queensway and Bayswater really are the last pieces of the jigsaw puzzle around the world famous Hyde Park. Prices on the North side have always trailed the South by a margin, with wealthy overseas investors fixated on the postcodes of Kensington, Mayfair and Knightsbridge. But those same investors are now looking at and around Queensway and Bayswater. This has sparked a rapid regeneration with the old tired, soot covered buildings which this areas has come to be known for quickly being transformed. Watch out for those cheap hotels as they are slowing making way for new cool residences right on the doorstep of Hyde Park.
Get professional advice: Winkworth (www.winkworth.co.uk) have long been an established name in the area, book a meeting with one of their property professionals to discover this area.
House prices in Dalstonare up 31% in the past 12 months, according to Hamptons. A big factor in this increase is the areas proximity to the North London Line which is currently undergoing improvements; in fact this is just another testimony to the old chinese saying: “invest in property next to the trainline” as other areas close to the next London trainlines have seen equally sharp rises.
Get professional advice: Stirling Ackroyd (www.stirlingackroyd.com) are your property experts on call if you are interested in this area
Property prices here range from £1,000 to £1,500 per sq ft and property experts expect this to continue rising as further benefits from the Crossrail project come to being. Expect this to become a new favorite for businesses setting up in London and with it its working demographic.
Get professional advice: Frank Harris (www.frankharris.co.uk) are your property experts on call if you are interested in this area