2016 was a largely turbulent year for London’s property market. Events such as the Brexit decision threw the market into turmoil, and many investors chose to proceed with caution, which had a knock-on effect on property prices.
Overall, numbers of people buying investment properties in London fell in 80% of the boroughs. However, a few areas defied this trend and continued to perform well, experiencing notable property price growth. If you’re looking for buy-to-let property for sale in the capital, it’s worthwhile knowing where these areas are – here’s a lowdown.
Property Investment Opportunities in London
London’s number one performer in 2016 was Barnet, which is situated in North London. Traditionally regarded as one of the city’s more affordable (and perhaps less desirable) boroughs, Barnet’s reputation has improved considerably in recent years, and as such, more investors are looking for buy-to-let property for sale here.
Last year, the number of people buying property in Barnet increased by close to 6% – which indicates clearly how popular the area is becoming.
Other Key Locations to Invest In
Close behind Barnet was Barking & Dagenham, which saw transactions increasing by 4.6%. Havering property sales were up by 3.3%, and Sutton experienced a sales increase of 2.5% on the previous year.
The big question is, why are these particular areas performing so well? Of course, a large part of their attraction is their proximity to Central London and their wide range of transport links. However, many of these areas have experienced regeneration and now also offer a variety of attractive, affordable new-build properties, which furthers their appeal for tenants.
Investment Properties in London – How Much?
London property prices are notoriously steep – a fact which deters many people from investing here. However, search in the right location, and you’ll be pleasantly surprised. For example, in Barking & Dagenham, an average property can still be purchased for under £275,000, and the same is also true of Havering.
If you’re searching for buy-to-let property for sale in London, it’s important to focus your search on an upcoming area; preferably a location that’s likely to experience good capital growth in the future. Always take into account average rental yields and work out how much income you can realistically expect to make from it. It’s also advisable to talk to a property investment agent with specialist knowledge of the area, as their inside information can prove invaluable.
The Buy2Let Shop in Bromley
The Buy2Let Shop are a team of professional property investment agents situated in Bromley, and with expert knowledge of London and its property market. We have a range of properties on our books that are priced competitively to sell, ensuring plenty of opportunity to gain good ROI. Our services also include help at property auctions, and we also hold regular property investment seminars in London, which are designed to provide you with inside information about property investment in the UK.
To find out more about how we can help you, simply visit The Buy2Let Shop website today.