I came across an interesting article today that discussed the best locations to invest in London in 2012, and the list was a rather surprising one.
Property prices in London have been rising and they are expected to keep increasing over the year, especially with the Olympics coming to town in the summer which, as we know, will result in rents rocketing, but prices to buy in London will also be effected, which could in turn effect property insurance quotes too. The more expensive a property, the more expensive the insurance is likely to be.
So, what are the top three areas that will be the winners over the course of the year and subsequent years to come?
First on the list was Kentish Town and Peter Malcomess of Chesterton Humberts has been quoted saying: “With the opening of the new French school in Kentish Town last September, enquiries on family homes directly related to the school currently make up around 15% of all our enquiries. These requests are mainly from French families living in London looking for large apartments or family houses in the area.” Kentish Town is now beginning to compete, in terms of property prices, with its neighbour Camden.
Would you look to invest in Kentish Town if you’re a property investor?
Second on the list is Battersea, home to the much loved dog rescue facility. Battersea was listed as the second best place to invest in 2012 due to the fact that an extension to the Northern Line will put Battersea on the Tube Map once and for all. A local estate agent at Douglas & Gordon, Mark Hutton, has been upbeat about the new plans as people are already looking to invest, as he stated: “People are already buying into the area with these plans in mind.”
Furthermore, David Barnett, a property developer has been stating that investors will increasingly become attracted to the large expanse of land, the accessibility and the fact that the land is relatively cheap. The American Embassy is also to be built in coming years which will in turn help with the regeneration of the area.
Third on the list was Croydon. Now this to me was quite a surprise at first, especially if you think back to the riots in August last year, however, we must not forget that the South London borough is already home to some very wealthy property owners and some very expensive homes, and it has great links to central London.
Over coming years property in Croydon is also expected to become increasingly popular, and therefore prices are set to rise. There are also plans for a Westfield Shopping Centre to open there which will of course pull in visitors from all over the country! Croydon could indeed become a property hotspot in future months and years.
Out of these three locations, hypothetically, where would you most likely invest your money?