Kicking off our investment series, we’re uncovering Wembley’s Buy to Let potential using our very own expert analysis and data-driven insight.
“South London had the highest demand, Central London had the highest budgets and West London was the only region to see a year-on-year increase in average price this February. Dig deeper, and you’ll find even greater differences within each region.
"Landlords can set their listings apart by understanding and adapting to nuances in their local market. That’s why we leverage real-time data and analytics to optimise our clients’ strategies, keeping landlords competitive within micro-markets.”
~ Sarah Tonkinson, Managing Director of Institutional PRS and Build to Rent in the Foxtons Lettings Market Report, February 2024
Who rents in Wembley?
Using Foxtons own expert analysis of the Wembley market, we can tell you about the kind of tenant you can expect to let to here:
Wembley Park is perfect for students attending prestigious University College London.
• 33% of renters who live here rent for between £1,000 and £1,499 per month.
• Primarily, Wembley’s renters are professionals (55%) and students (27%), and the population of renters in their 20's is expected to grow by 7.6%.
• 24% of renters have moved between 1-5 miles to their new address.
Renters are moving to Wembley from all over London, and beyond. While 2 out of 5 Foxtons renters move outside their initial search area to secure a home, 24% of Wembley renters move between 1 and 5 miles, 20% move up to 10 miles and 27% move more than 10 miles.
What are renters looking for in Wembley?
According to our local office, it is no surprise that students and professionals in their 20s make such a big proportion of the Wembley lettings landscape. Renters prioritise Wembley in their property search for its excellent transportation, energetic atmosphere and cultural diversity, as well as the highlights - watching Premier League in the UK’s largest stadium and reinventing your wardrobe with London Designer Outlet.
Transportation is a key benefit you’ll want to consider in the marketing of your property – Wembley Park, Wembley Central and Wembley Stadium provide access to the Underground, Overground and National Rail services. This allows your renter to reach those big city jobs.
For example, living close to Wembley Park gives them a direct service to Baker Street (less than 15 minutes), Green Park (about 20 minutes) and Liverpool Street (30 minutes).
Opportunities to buy to let in Wembley
In this market you’ll find everything from modern apartments in developments around Wembley Park to the traditional Georgian and Victorian terraced houses that top every Londoner’s wish list.
The area has seen massive regeneration and promising growth, and develpers have responded with exceptional new homes. These developments are fully kitted out to offer exactly what Wembley renters want in property and lifestyle benefits, so you can increase your portfolio with a low-maintenance, desirable asset that’s perfectly suited to your ideal renter.
Whether you’re looking for traditional London property or a state-of-the-art let, we can clue you into the next opportunities in the Wembley market. Make a My Foxtons account, or request a callback and we'll help make it happen.
Not to mention, Foxtons have an unrivalled database on London market insight, analysed by industry experts. In the 2024 market, you need this high level of expertise behind your pricing and marketing strategy – you cannot simply put it online and expect a strong return. We can help you find, purchase, market, let and manage your new investment for the best results.
The current market
While there’s always opportunity in the London market, mid-to-late summer to autumn is peak season – particularly around July and August for university students and into September for professionals. Late spring into early summer tends to attract the more experienced renter, who wants to pre-empt the rush to secure a great tenancy. Whomever you’re planning on letting to, the sooner you can start preparing, the better.
Read our latest Lettings Market Report for data on the current market.
Sources:
• The Foxtons database: Foxtons has one of the largest databases in the London property sector, with 5.5 million contacts and over 25 years of valuable data insight. Our experts analyse London’s micro-markets for you.
What our data can do for you: We can use data analytics to find you the best strategy to buy and let in London, as well as real-time resources to keep your property compliant with all of London’s laws and regulations.
• External Sources: Alongside our own data, Foxtons Analytics used TwentyCI the Land Registry and Office for National Statistics.
• Foxtons Specialist Photography: our expert in-house photography team provided all the photography in this article. Our team shoots premium photos for landlords, which makes all the difference in attracting quality tenants. Book a valuation to learn how Foxtons can market your property.
Read about more about buy-to-let investment:
• 2024 investment hotspots for buy-to-let landlords in London
• Londoners call for new homes: developers respond with exciting projects
• What a City worker wants in a home
