This guest blog has been provided by the kind people at Portico.
If you want to invest wisely post Brexit, you need to think location, location, location. New builds’ locations have been specifically chosen with today’s tenant in mind, so they’re usually based near a great transport link in a desirable or up-and-coming area. In other words, many offer good prospects for capital growth due to their postcodes.*
If you’re considering buying or investing in a new home, here are Portico London estate agent’s 10 new build property hotspots…
Croydon is a metropolitan area soon to benefit from a £5.25 billion regeneration programme, which promises to transform the town centre. Westfield also have plans to build a luxury shopping centre in the area, which will likely push up property prices as we’ve seen previously in the boroughs of Hammersmith, Fulham and Newham. Better still, residents can travel into Victoria in just 14 minutes, making this south London borough an easy choice for renters on a budget.
#2 Nine Elms, Battersea
Another area that’s benefiting from a multi-billion pound investment programme is Nine Elms. Touted as the “next big luxury area”, it will soon be home to a new Tube station, a revamped high street and the American Embassy, which will drive more international workers to the area.
#3 Canary Wharf
Canary Wharf is one the most established of the new build communities that have sprung up over the past decade, extremely popular with young professionals working in the business district. It also has one of London’s most sophisticated travel hubs, integrating the DLR, Tube and Thames Clipper river bus services. Moreover, when Crossrail is fully operational in 2018, the line will provide direct connections to Heathrow Airport and a number of east-west destinations – further enticing renters and investors to London’s financial centre.
Bermondsey is another area that has undergone a positive revival, this time as a result of the regeneration of London Bridge, which has attracted large business such as News Corp into the area. It’s also quite the foodie mecca, attracting young professionals and business types who want a central location, a string of trendy amenities and contemporary, luxury accommodation.
#5 King’s Cross
King’s Cross, once an industrial wasteland known for its underground night life, is now a thriving cultural and business community, home to some of the biggest companies in the world as well as a string of new restaurants and bars, a huge Waitrose in Granary Square and the art installation Pond Club. Google are currently spending £1bn on a London HQ in this trendy part of town, which will no doubt attract a wave of tech professionals and continue pushing up prices.
Property prices have soared in east London over the last few years, thanks to the impact of the Olympics and the resulting gentrification. Aldgate is an area that is growing in popularity. It’s close to fashionable neighbourhoods like Shoreditch and within walking distance of the City, making it an ideal spot for trendy young professionals with a work hard, play hard mentality.
#7 Bromley by Bow
Also within close proximity of the Queen Elizabeth Olympic Park, Bromley by Bow offers affordable accommodation, good transport links into London and an up-and-coming, trendy vibe. There’s a low supply of luxury rental homes in the area, meaning that landlords here tend to generate healthy returns as well as good prospects for capital growth.
Investors have been queuing up to get their hands on the new developments dominating Dalston’s skyline ever since Boris Johnson re-opened the Overground station, Dalston Junction, in 2010 – which takes residents into Highbury & Islington Rail in under 5 minutes. The area is ruled by young renters and arty types, who are attracted to the area’s trendy eateries and cafes, cool rooftop bars and the delights of London Fields just to the east.
Despite property price rises here outperforming most of London, Stratford still remains affordable for both buyers and tenants, making the area an extremely popular place to live. The near completion of Crossrail will no doubt drive further growth in this area of east London, so we believe Stratford has the most growth potential in the coming years. It’s a key hub into the rest of east end.
Crossrail will arrive at Hayes & Harlington station in 2018, which will be key for pulling in renters and homebuyers wanting affordable property but also access into central London. As well as good transport links, Hayes offers healthy rental yields, great schools and easy access to the M4, the M25 and Heathrow airport.
* Potential investors should satisfy themselves that any property acquisition meets their requirements and should take independent professional advice regarding investment potential.
If you would like to buy, sell or let your property, or if you’d like any more information on the market, give Portico London estate agents a ring today on 0207 099 4000.