Profitable real estate investing is all about tracking the most competitive real estate market. This autumn London real estate market is experiencing the highest investment demand, with its stock value surpassing the gigantic New York market. The situation is very promising for 2016 with more and more areas demonstrating high property market activity.
Battersea
The Battersea Power Station development has prompted obvious growth of investment potential in the area. Perhaps the renovation project of the local landmark was in the spotlight with the restoration works began in 2013, but residential sites in the wider Battersea area such as Lavender Hill and St. John’s Hill demonstrate a significant investment potential, too. For instance, there are large retailers in Lavender Hill that are able to compete with stores in Clapham and Wandsworth, while the area still maintains a number of quiet residential streets perfect for young professionals and families.
In the years of 2008 — 2013 Battersea’s real estate market has recovered with record high numbers with prices risen at more than 90%. Clapham Common’s popularity has a great impact on the Battersea property market. With the new United States Embassy headquarters, two underground stations and the new Covent Garden market, Battersea’s residential area is a lucky place for long-term investments.
Victoria
Being a centrally located real estate area with an important transportation hub Victoria has a huge chance of success in 2016. The developers recognized the full potential of Victoria back in 2010, when Victoria Business Improvement District project was introduced.
Victoria’s renovation project with £ 2.2 billion funding has put behind the area’s reputation of a suburban stop. Mixed-use developments such as Nova project on 897,000 sq ft created a comfortable place to work and live in, revealing a popular view of Buckingham Palace next door. By August 2014 the undergoing development caused a price for a three-bedroom apartment to increase up to £ 1.8 million, and nowadays the common price for a property is settled over £ 2.1 million.
We expect this major residential real estate market to challenge the wealthy SW1 neighbourhood within the next five years, with the renovation works successfully undergoing in the area.
Clapham
2014 was the year of real estate activity boom in London, when prices rose substantially across the city.
Clapham’s steady progress in the south proved its stability as a leading real estate investment destination with a 37% price increase between the second quarter of 2013 and the summer of 2014. Along with price increase, Clapham’s market has experienced a flow of young buyers who determine its future success. It is one of the main regions where consumers under 35 are now outnumbering those in the 50s in proportion of two to one.
Since stamp duty reform introduction in 2014, buyers looking for сost-quality trade-offs when buying a property have also shaped Clapham’s market trends in 2016.
Kennington
Improving transport hubs nearly always do wonders to the real estate market. Like in many other boroughs in London, Kennington’s transport links are undergoing modernization making the local real estate market especially noteworthy.
Not being in the spotlight up until 2014, Kennington is now one of London’s top 20 investment locations. Situated between the Nine Elms and the Elephant and Castle, attracting one billion pound investment projects each, Kennington residents feel the up-rising interest from property buyers coming from the south of the Thames.
The average cost of real estate in Kennington is now more than £830,000, and numbers are likely to increase due to the Northern Underground Line from Kennington to Battersea being under construction. A rising number of young professionals from City choose Kennington as a residence place, and that means Kennington Georgian real estate is a valuable asset to be acquired as soon as possible.
