The UK’s economic peak has led to an enormous influx of property investors, including foreign buyers flooding the property market as they seek to gain a strong foothold while the economy is in a healthy state. Reports state that, of all the UK cities, the capital city of London has been the biggest beneficiary so far amidst all this investment rush.
An article released by the Metro newspaper indicates that this drastic increase in London property investment does not seem set to slow down any time soon. In a headlining article, the newspaper highlighted that spring is turning out to be yet another successful month for London’s property market, as buyer registration rose by 52% this February as opposed to February 2013.
It is inevitable that investing in property in London will generate considerable profits, leaving property investors with one dilemma: ‘Where exactly is the most profitable part of London?’. Judging by recent reports, we at Prideview Properties have compiled a list of some of the best up and coming places in London that would certainly be worth a look if you are a property investor.
Nunhead: With an average property value of approximately £500,000, this place has been deemed ideal for young professionals based on its lively characteristics. Nunhead also boasts a great cultural background and many other features to appreciate.
Forest Hill: The average property cost in Forest Hill is £362,000, with a typical flat costing around £250,000. For London, this property valuation is very affordable, making this area attractive to buyers. Forest Hill is very accessible to the city centre, as the establishment of the over-ground reduced the journey to only half an hour.
Morden: This area is very suitable for young people who are looking to settle down and start families, as it is not only very affordable but also has numerous places of interest in close proximity. The average property in Morden costs £300,000.
There are many other places in London that could potentially bring high return on investment for buyers. Those seeking to invest in property should certainly make the most of the current economic situation to increase the chances of gaining profit. If you’re unsure about the property investment procedure, then consult companies like us at Prideview Properties, as we specialise in investment property in London. The property market can be risky, therefore it is important to avoid blind risk taking.