The latest property news from the London market15th December 2016
The London property market is a source of much interest for both those closely involved in the industry as well as those looking to buy their own properties in the city. It is a fast-paced market and sees a great deal of change over relatively short periods. Being the capital city it is often more heavily influenced by international relations and trade deals than the rest of the country. For this reason it can be difficult to know when to make an investment in the city and as house prices continue to rise it is harder than ever for newcomers to get onto the property ladder. Nevertheless, it isn’t all bad news, due to a number of new schemes and changes to the market now could be the perfect time to invest.
A new scheme has recently started up which allows younger people to invest in property in central London. It allows investors to put as little as £1,000 into property and see a return on their investment as the market grows. A fifth of investors in the scheme are said to be younger than 35 which highlights the importance of these schemes for young people hoping to get onto the property ladder. At a time where a lot of graduate bank accounts offer almost no interest it unsurprising that people are looking to put their money elsewhere. The properties are located in prime locations across London, including Mayfair and Knightsbridge, which makes them an incredibly attractive investment opportunity.
Properties on the commuter lines into the capital city tend to be more expensive than properties of a similar calibre further from the capital. Towns and cities surrounding the capital city are seeing a great deal of investment in transport links which means that this price bubble is expanding further from London. House prices in London saw an increase of 11 per cent in the past year, however, prices in the South East have seen a rise of 16 per cent as demand for properties in the Home Counties. With the introduction of a number of new commuter lines, such as HS2, it seems that this rise is only set to continue and so now looks like the perfect time to snap up a property in the outskirts of the city.
Following the Autumn Statement in November there has been a lot of talk about new housing projects in London. Outlined in the Statement was a plan for a $2.3 billion housing infrastructure fund to build around 100,000 new homes. These plans are aimed to target areas which have been labelled as ‘high demand’. The affordable houses are not only intended to help alleviate the housing crisis in the capital but will also create jobs and help to boost the economy. This is another piece of great news for young people who are currently priced out of the housing market and is certainly a step in the right direction for more affordable property in the city.
11th September 2017Read more