Property Investment in London’s Exclusive Postcodes
If you are looking to make a property investment, you will find many articles containing London’s up and coming areas that promise fantastic returns. For example, boroughs and districts such as Croydon, Tooting and Sutton are all predicted to boom over the next five years, making them great potential for long term investment. However, despite these positive expectations, investing in any of these areas still presents a certain amount of uncertainty and financial risk.
If you can afford a little more and would prefer to make a fail safe investment, then consider London’s more exclusive postcodes. You will get less square footage for your pound, but property in these areas is always going to be in demand.
The average buyer may believe themselves to be priced out of the market in London’s prime business district. This certainly seems to be the case when you take the figures on face value, as the average property price here is just shy of £650,000. However, Canary Wharf is the area of one of London’s most exciting property projects, with a new development called Wood Wharf. Situated on the Isle of Dogs between Canary Wharf and Greenwich, plans here include skyscrapers and residential complexes, totalling 3,600 new homes.
Similarly to Canary Wharf, property in Notting Hill carries a premium, with the average selling price for an apartment just falling short of £1million. However, wedged between Notting Hill and Ladbroke Grove you will find the more reasonably priced Portobello Square. Designed as a redevelopment project, the master plan spans a 10 year project, with a total of 1,000 new homes as well as restaurants and shops. While work here started 2 years ago, there are still great property finds to be had.
You may be surprised to find that if you know where to look, you can still find a reasonably priced investment property in central London. While Kensington may be known for its large town houses, Kensington Palace and excellent shopping, there is still a bargain to be had among this area’s prime real estate. You can find Apartments for sale in West Kensington for less than £300,000, while North Kensington properties may set you back an extra £20,000.
Situated next to popular Chelsea, Battersea is home to Nine Elms, a £15billion project. This development is by far the most expensive on this list, with luxury flats costing upwards of £1million. However, situated along the bank of the Thames, Nine Elms has been hailed as a ‘mini Manhattan’ and is to be filled with glamorous sky scraper complexes. This is the biggest regeneration project of its kind in London and currently one of the largest in Europe. If you have the capital, this is definitely the area to invest.