South East London boroughs see biggest rise in rents across the capital
- 21st May 2019
- Landlord Property News
Areas such as Peckham are now cultural and tourist hotspots
Average rents for buy-to-let properties in South East London saw the highest annual increase out of all London areas in the past year, shows research that we have undertaken.
The average rents across the capital’s South East boroughs for buy-to-let properties were £1,560 in Q1 2019, up 4.62% from £1,491 in Q1 2018.
The rise reflects the increasing popularity of the capital’s South East compared to other boroughs. For example, average rents on buy-to-let properties across London increased by 3% over the same period to £1,770.
As these areas continue to grow, South East London, as with many other Zone 3 areas, is likely to be a great choice for landlords to invest in in the future.
Some commentators have cited the regeneration of areas such as Peckham has been a key driver in the South East’s rise. Once only known for being the home of BBC sitcom Only Fools and Horses, Peckham is now associated with a thriving cultural scene, including rooftop bars such as Frank’s Café and a rooftop film club on top of Bussey Building, both located on Rye Lane. The Times also ranked Peckham as the best place to live in London in 2017 (and second in 2018).
South East London also offers an array of summer festivals. Peckham Festival, held in the trendy Copeland Park complex, hosts London’s up-and-coming bands, whilst Dulwich Festival takes place every year and sees artists showcase their work across nine days in May.
The borough of Lewisham also houses a booming music scene, with venues such as The Five Bells and The Amersham Arms in New Cross putting on weekly gigs for the capital’s newest bands.
Transport links in Lewisham have been boosted by the extension of the Bakerloo Line and the DLR which have both helped the borough realise its potential as a commuter hub into the centre of the city. In Canada Water, last month marked the 40th anniversary of the Jubilee line which offers quick, direct journeys into Canary Wharf, the City, and the West End.
Stephen Ludlow, Chairman at ludlowthompson, says: “London’s suburban areas have always been a great offering for landlords. These new figures highlight that South East London is the fastest growing area of the capital.”
“Areas such as Peckham and Lewisham have undergone a complete transformation over the past decade. Some of London’s finest restaurants now line the thriving streets of Rye Lane and Bellenden Road.”
If you are looking for your next buy-to-let investment in South East London, find your nearest office to speak to a local expert today. Here is a selection of recent reviews from happy customers of ludlowthompson via Google:
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“London’s suburban areas have always been a great offering for landlords. These new figures highlight that South East London is the fastest growing area of the capital.”
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