House price growth near regeneration areas in London outperforms wider market
- 22nd January 2020
- Selling Property News
Regeneration projects also increase demand for property in immediate surrounding areas
New research shows house price growth of properties near regeneration areas in London consistently outperforms the overall market.
The research shows the “regeneration effect” means homes located close to these projects boast an average 3.6% higher price growth every year, more than properties in the wider market.
Regeneration projects are designed to improve an area through providing new housing for existing and prospective residents, as well as better public spaces such as parks, gardens and sports pitches.
South London has undergone significant regeneration in recent years, in areas such as Elephant and Castle which alone has 24 regeneration projects currently underway. At the heart of this is Elephant Park which will be the largest new park in central London for 70 years, as well as a new town centre.
Improvements made to transport links and connectivity throughout the capital are also key to regeneration, with Londoners rating accessibility as a key factor when considering where to live.
A current transport initiative in London is the Crossrail programme set to be up and running this year, which will see 10 new train stations opened. This Elizabeth Line means areas such as Woolwich will benefit from reduced travel times into central London, surrounding areas such as Greenwich and Lewisham are also likely to benefit from these services.
Stephen Ludlow, Chairman at ludlowthompson, says: “There is no doubt that regeneration projects are positive and have huge benefits for residents. But it is great to see the benefits are also extended to those in nearby areas.”
“Homes in areas near regeneration hotspots benefit from higher demand and faster house price growth – brilliant news for homeowners selling such properties.”
ludlowthompson maintains its transparency by encouraging customer reviews across a number of platforms. Over a three-year period, we ranked number 1 agent in the UK on allAgents out of 15,000+ agents, with 5300+ 5* reviews. Here is a selection of recent reviews of happy customers of ludlowthompson via Google Reviews:
Rich J via Google Reviews:
“We had a great experience with LT, and particularly the Bow team. I would definitely recommend them to anyone selling in the area.”
Harriet H via Google Reviews:
“The ludlowthompson Oval team have been great to work with. They gave us very good advice about the value of our property and how best to market it. As soon as the property went live, they had viewings booked in and we had multiple offers within 2 weeks. The team are responsive, professional and very straightforward.”
There is no doubt that regeneration projects are positive and have huge benefits for residents. But it is great to see the benefits are also extended to those in nearby areas
FREE & INSTANT PROPERTY VALUATION
IN JUST 60 SECONDS