Why landlords should consider Tooting for their next buy-to-let property
- 15th April 2021
- Buy-To-Let Property News
St George’s Hospital and good central links makes South West borough appealing
The opening quarter of 2021 saw central London rents fall by more than 10% year on year. However, areas that offered a diversified labour market between private and public sector employment saw rents holding up throughout the pandemic.
One such area for landlords to consider is Tooting in the Borough of Wandsworth, which stood out as one of the top five local authorities in the country for having the lowest number of working residents on furlough.
A principle reason is the landmark institution, St George’s University Hospital in the heart of Tooting, which became a beacon of hope during the coronavirus pandemic. The hospital employs 9,000 dedicated staff across more than 40 different services and specialities, making it an ongoing major source of employment for medical and healthcare professionals. This means demand for rental accommodation is consistently high in the area.
As employees in the private sector embark on a return to work, Tooting is well-connected to the centre of London, by bus, tube and cycling paths. The 24/7 demands of the hospital ensure the local supply chain is fully resourced for all residents. As people start to return to offices and with the reopening of bars, shops and restaurants, this will be increasingly important.
Tooting also boasts a community feel, making it very attractive to those looking for a local hub within the city. With the famous Tooting Market, a vibrant nightlife and some of the finest destinations for ‘foodies’ in the Capital, the area in South West London is very appealing to those who want amenities on their doorstep.
Tooting was named by Lonely Planet as one of the ‘10 coolest neighbourhoods in the world’ due to its multiculturalism, with attractions such as Tooting Common and Tooting Bec lido singled out for praise.
Stephen Ludlow, Chairman at ludlowthompson says: "With lockdown measures beginning to lift, renters will be drawn back to the Capital so buy-to-let landlords will be looking at the best areas to invest in. Those providing a strong public and sector employment mix will potentially yield higher long-term returns than ones targeting an individual group.”
“With excellent links to the centre of the city, a fantastic local feel, schools rated outstanding by Ofsted and the hospital in the heart of Tooting, it is a vibrant area that is appealing to young professionals and families alike.”
“With hybrid working practices set to become more normal, renters are looking for a good balance of facilities on their doorstep and commuter links. Tooting ticks many of these boxes that tenants are looking for.”
Start your search for a Buy-To-Let property in Tooting here.
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With lockdown measures beginning to lift, renters will be drawn back to the Capital so buy-to-let landlords will be looking at the best areas to invest in
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