For those planning on buying or selling their homes, there are many questions to be asked. Where are the best places to buy? Is it a good time to sell? Which areas have the most potential to increase in value? And there are many more. With that in mind, we spoke to our local Managers and looked at the Land Registry data* for the first half of this year, to identify areas that can be considered as ‘property hotspots’ in London.
Croydon
Swiftly rising to fame as the next place to be, Croydon boasts an impressive cultural and musical history, a trendy ‘Shoreditch’ vibe and a good choice of local schools and parks, as well as being exceptionally well-connected in terms of transport links.
An ongoing regeneration programme following an investment of £5.25 billion attracted further interest to the area, as did the exciting plans to launch Croydon Westfield and Box Park in the near future.
Good news for buyers: the average property price in Croydon is just over £380,000, making it fifth most affordable London borough.
Good news for sellers: over 2,450 properties were sold in Croydon in the first half of this year, more than in any other London borough.
Bromley
With its diverse property portfolio, great transport links into central London and a sought-after ‘village feel’ within the neighbourhood, there is little Bromley can’t offer as a place to call home.
Providing the perfect mix of historic and modern amenities, good cultural and educational facilities and the rare balance between town and country living, Bromley’s rise in popularity is expected to continue for the foreseeable future.
Good news for buyers: with an average price of just over £470,000, Bromley offers great value for money compared to most other London boroughs.
Good news for sellers: Bromley boasts the second highest number of properties sold in the first six months of this year, with over 2,400 sold properties.
Barnet
With a great range of schools (some being amongst the top 10 in the country) and fantastic transport links into central London via both the Overground and the Northern line, and out of London via M25, A1 and M1, the Borough of Barnet also boasts an abundance of green open spaces within its boundaries.
The fourth largest London borough by area, Barnet comprises diverse neighbourhoods that offer their residents a wide range of amenities. From well-developed high streets to independent, family-owned businesses, medical and educational facilities, the array of options available makes the area self-sufficient.
Good news for buyers: the average property price in Barnet is just under £600,000, making it a great choice for families and those looking to upsize.
Good news for sellers: just under 2,300 properties were sold in Barnet in the first half of 2016, which is the third highest number of properties sold in all London boroughs.
Wandsworth
Despite being one of the best-connected areas in London due to its major Clapham Junction transport hub, Wandsworth is known to offer a unique ‘country living’ feel with the vast greenery of local commons and parks.
A great range of state and private schools, a wide selection of amenities and a family-friendly atmosphere appeal to many families, whilst the borough’s central location and the diversity of its portfolio also attract professional buyers.
Good news for buyers: although the average property price of just under £770,000 might not be within everyone’s budget, there is still a number of one bedroom apartments available at under £450,000. The area’s fantastic location suggests potential for future increase in value.
Good news for sellers: just over 2,250 properties were sold in Wandsworth in the first half of this year, making the area the fourth most successful borough in the number of properties sold.
Lewisham
Benefiting from excellent transport links into central London and Canary Wharf via the DLR and National Rail, Lewisham also takes pride in its local schools, attracting families, professional buyers and investors alike.
With the increased interest in the area from both large-scale and private builders, there are new exciting developments coming up. Considering that Lewisham still offers great value for money compared to most other London boroughs, the interest in the area is expected to continue growing.
Good news for buyers: the average property price in the area currently stands at just under £440,000, making Lewisham the 9th most affordable London borough.
Good news for sellers: with just over 1,800 properties sold in the area in the first six month of 2016, Lewisham has the fifth highest number of properties sold so far this year.
*All average property prices and the numbers of properties sold per borough are quoted as per Land Registry report published in June 2016
Thinking of buying or selling your home? Find our local offices here, speak to one of our friendly advisors on 020 7893 6000, or book a free valuation today.
