Historically, investment properties in London tend to rise in price, not decrease. However, after a year of uncertainty (brought about by the EU referendum and Stamp duty changes), property prices have stabilised in many areas of the capital, and have even dropped in certain places.
However, that’s not to say this is the case everywhere. Indeed, some locations in London are enjoying renewed popularity at present, with prices rising at a dramatic rate. Here’s a lowdown of the capital’s property hotspots.
Investment Properties in London – Which Locations are Performing Well?
As prices in central London rise, more investors are looking to the suburbs for affordable property, without sacrificing the short commute times to the capital. As a result, certain areas have enjoyed a huge surge of popularity, with some locations experiencing double-digit growth in the last 12 months.
Cheaper Investment Properties in London
Whilst some areas have experienced price rises, others have notably dropped in value. Wandsworth prices have dipped by an average of -0.9% in the last year, and Lambeth has dropped by -1.1%. More dramatically, Kingston-upon-Thames prices have gone down by -3.3% and Kensington and Chelsea have experienced a -6.6% drop, reducing property values by £164,331 on average.
Where Should You Invest?
When investing in property in the UK, it’s a wise idea to identify up-and-coming areas; locations that look set to become more popular in the future, thus driving prices up. It also makes sense, if you’re looking for buy-to-let property for sale, to search in areas that appeal to tenants.
Find out whether the area is about to be regenerated, as this often sends property prices sky-rocketing. Likewise, the addition of new transport links (such as London’s forthcoming Crossrail network) also has a positive impact on prices.
The Buy2Let Shop Limited
If you’re searching for investment properties in London, or want to find where to start searching for buy-to-let properties for sale, talk to The Buy2Let Shop team. We’re a group of specialist property investment agents, and we’ll help you find the right property for your requirements, at a price that suits.
To learn more, simply visit The Buy2Let Shop website today.