For those who live in London and are considering a move this year then they need to identify an area that is a good to live in with the potential of growth. London has a number of micro markets that are all different and so, they are worth considering.
Many areas of London are being re-developed, these are not areas that are undiscovered but areas that require work due to an influx of people and homes that are undervalued.
The inner areas of London have become increasingly expensive and this is forcing buyers to look elsewhere. However, many areas of London are being upgraded when it comes to transport and employment and this makes the outer areas of London a far more attractive prospect.
So what areas should buyers consider?
Kennington
The area is located close to parliament and for decades it has been undergoing slow redevelopment but the new northern line could make the area more popular. Next to Kennington is a new build scheme known as St Agnes Park and where Kennington meets the Thames, an office block has been demolished in order to make way for new apartments.
Abbey Wood
A new Overground extension and a Crossrail station will make this area a desirable place to live. Plans for a new homes scheme have been submitted where 208 flats will be built in a 29-storey skyscraper.
Barking
A waterfront project is being undertaking in Barking which will create 11,000 homes while the town centre is being redeveloped while benefitting from being situated in Zone 4 of the district line. Positioned next to the station are residential towers, designed with a curve and known as 360 barking.
Royal Docks
Situated in Royal Docks is the London City airport which is a huge positive for the area as it provides a link to more than 40 destinations within the UK and Europe as well as New York. The area was once left abandoned but now it is being transformed into a London district and business zone. Around 1,500 homes are being added to the area at Royal Albert Wharf which is situated next to the airport runway.
Streatham
Once classed as being a scruffy area, it seems as though the council and business have worked together to make the place a lot better. In South West London, it has become the place to move to. London Square Streatham Hill is a new development of 214 flats offering luxury living with a gym, concierge and a supermarket.
The outer travel zones are benefitting from the high prices associated with the centre of London as the population in these areas is increasing at an incredible pace. Meridian Water in Enfield will see 10,000 new homes added as well as a new train station making it the ideal place to live for commuters.
Southall
The new Crossrail station has enhanced this area and is now attracting buyers from other areas of London who are looking for properties at an affordable price with good transport links to the centre of London. Work is underway on a former gas works that will see the addition of a 3,370 home estate known as Southall Waterside.
Author Bio
Hopwood House are property investment specialists, with a wide range of property investments in London, Liverpool, Manchester and Sheffield.
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Daniel Peacock