You may be thinking of buying or investing in a property in the capital this year. But you may be asking yourself, where are the best places to buy in London in 2017? Here, we have our top 5 London property hotspots that could make your next purchase your wisest yet.
Home to world-famous Wembley Stadium, the borough of Brent is undergoing major regeneration. Development throughout the area is widespread and stretches out to parts of Barnet too, including Colindale, where thousands of new homes are being built as part of the London Plan.
With a redevelopment strategy mapped out for 15 years, just some of Brent’s improvement projects include a new Thameslink station in Brent Cross, a £1.4 billion redevelopment of Brent Cross Shopping Centre – that will include restaurants, a cinema, a hotel, parks and newly built homes – improvement to the road and pedestrian network, and a facelift to existing high streets and shopping districts.
So, with lots of improvement plans in place, there are plenty of reasons why buying a property in Brent as a long-term investment is a wise move this year.
Current and projected development plans in Croydon are transforming the image of this south London suburb. Long gone are the days when Croydon was known only for its grey skyline of high-rise buildings. It has now become a fashionable centre of shops and restaurants, creating a new destination for south London’s residents.
The biggest regeneration plan currently in progress is the development of the Whitgift Centre. Over £1 billion is being spent to create an enormous Westfield shopping centre to rival Stratford and Shepherd’s Bush and will include a new cinema, bowling alley and lots of restaurants.
Now open, Boxpark Croydon replicates the hugely successful site in trendy Shoreditch and is just one part of the town’s transformation. The site consists of over 30 shipping containers housing small independent eateries and space for local events for Croydon’s community.
In the past, Canning Town has been largely overlooked in favour of its Canary Wharf neighbour. But there is now enormous interest from developers. And people looking to settle here too, who are looking for a quick commute to work.
£3.7 billion is being spent to redevelop this area to the east of London’s financial centre, incorporating over 10,000 new homes and an Elizabeth Line station at Custom House due to open in 2018. The latter will provide a link through central London to Paddington which will take just 20 minutes, before the service heads on to Heathrow and out to Reading.
As well as improving the existing shopping areas around Rathbone Market in Canning Town and Freemasons Road near Custom House, a major part of the area’s transformation includes Hallsville Quarter, which is to become a new town centre of shops, homes and leisure facilities that make the most of the area’s current handy transport links.
Another crucial part of Canning Town’s regeneration is the creation of the Asian Business Port at Royal Albert Dock. This will be a centre for Chinese and Asian companies looking to expand into European markets and with £1.7 billion being invested in the project, it is set to become London’s third business district behind Canary Wharf and the City.
Check out our new homes for sale in Canning Town's key development Discovery Tower, which includes a public square, shops and a 4-star hotel.
Elephant & Castle
There are currently 18 regeneration projects in Elephant and Castle in progress, or lined up, that will transform the area, which has transport links on the 24-hour Northern Line, Bakerloo Line and National Rail connections.
This central hotspot is to benefit from a partnership between Lendlease and Southwark Council, which has approved plans for Elephant Park – a £1.5 billion regeneration project of 3,000 new homes, shops and amenities.
The existing outdated Elephant and Castle shopping centre will also be redeveloped, creating a new town centre of homes and shops, as well as a campus for the University of the Arts London (UAL). Which is set to make this previously overlooked Zone 1 hotspot a must-visit destination in central London.
Check out our new homes for sale in Elephant and Castle's key development Elephant Park, which is currently the largest regeneration scheme in Zone 1.
Nine Elms & Battersea Power Station
Much talked about in the capital, the development of Battersea Power Station and the surrounding Nine Elms area has been at the forefront of London’s development plans since 2011.
This stretch of the Thames close to Vauxhall is to become a residential hotspot and beacon for London’s modern-day luxury living. A £16 billion investment will include 20,000 new homes and redevelopment of Grade II-listed Battersea Power Station, which will encompass The Electric Boulevard shopping district, housing a number of high-end brands.
While currently served by National Rail links from Battersea Park and Vauxhall stations and within walking distance of central London, two new tube stations are also being built – Battersea Power Station and Nine Elms – which will be on the Northern Line and are due to open in 2020.
The U.S. Embassy is also moving to Nine Elms, along with some of the world’s biggest companies, including Apple’s new 500,000 sq ft HQ – which is likely to pave the way for other businesses and investment.