London’s outer boroughs drawing in the crowds
- 20th January 2016
- Property Tips
Transport links and lower prices drive growth in London’s newest property hotspots
As prices in central London have continued to rise, a “ripple effect” has led new buyers – particularly young professionals – to look a little further afield for the right property. At the top of their list of priorities are affordability and great transport links into the City and West End.
In 2015, Newham saw the fastest house price growth of any area of the UK. East Ham is also proving popular with a 26% rise in demand for flats and houses in the second half of 2015 alone. Positioned just a 30 minute tube ride from Central London, the area’s popularity looks likely only to grow.
Stephen Ludlow, Chairman at ludlowthompson, comments: “Previously unfashionable areas of the capital are now becoming highly desirable for buyers, especially those with good transport links.
"For example, we've been taking a particular interest in Woolwich over the last few years to see the impact of the Crossrail development.
"Prices here are far more affordable and commuting to and from work is still relatively quick and easy. The growing number of chain restaurants and fashionable retail names eager to establish themselves in these areas is an excellent indicator of the overall increase in capital growth.
"There is also strong investment in capital infrastructure and the improvements to existing schools (and the development of new ones) are huge draws for young professionals and families with younger children."
Previously unfashionable areas of the capital are now becoming highly desirable for buyers, especially those with good transport links.
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