5 Property Hotspots in London
New beginning…in all walks of life can be witnessed in London. Especially, 2019 seems to be a highly promising year in terms of investment. As per the experts only first three months seems to be a little bleak. Later on, there will be a mammoth change once Britain’s official withdrawal from the European Union happens.
So most of the vendors are holding back their decision till March 29 expecting a much higher price for their properties.
The main reason cited by them is that ‘Brexit chaos will come to an end’. So, it is high time that we are prepared to lay hands on the property hotspots of 2023. Come….let’s have a look at the most sought after hotspot.
Manchester
One of the top-notch property hotspots-Manchester!!! As it is predicted to outperform other places in terms of making profits, Manchester occupies the first place. Owing to its dependability, it has been proudly referred as the “London of the North”.
Many developments are in the pipeline, which also adds value to this place. They are: new Salford Quays Complex, then the extension of the ‘Metrolink Tram’, the most popular one, and also the Northern Powerhouse Development.
Apart from the above mentioned, Universities have also enhanced its demand and popularity. There are three renowned universities in the surrounding area and this has paved way for 30% increase in private rental sector. Hence, there will be an increase in the rental income. So…this has motivated strongly people to try their investment in Manchester, undoubtedly!!!
Of late, the demand for homes is more than the properties available in Manchester. Hence, investors are basking in the golden opportunity. As per the forecast, the rental prices will definitely continue to increase in the future also….
So…get set and prepare yourselves to invest in the happening place….”MANCHESTER”
The Midlands
The next hotspot in terms of property investment is ‘The Midlands’. Due to paucity of housing space in the capital, more and more London professionals are forced to seek housing outside the capital only. So, it is really advisable and wise to think out of the box and also beyond the capital to invest better.
Even the Midlands is said to get its due benefit from the HS2 which will be able to transport passengers to London in 50 minutes, down from 1 hour 21 minutes. In terms of accessibility, Birmingham is said to witness big changes. This city will also be happy to get benefitted from the HS2 rail link. This will facilitate in reducing the time of travel from Birmingham to Central London. Apart from the above, there is also a plan to build an extension for the city’s Metro, running from outside New Street Station to the Broad Street’s end.
One more good news is in the offing!!! It’s that of the Birmingham Airport which is getting ready to render a warm welcome to its international visitors from 2026!!!
Homes in Nottingham are also found to be sound investments. Even though the property prices in Nottingham are relatively cheap, with an average of £86,000, rent prices remain high, with an average rent price of £550 pcm. This ultimately makes the rental yield almost 7.7% due to the demand of rental properties from students and young professionals to the core.
North-West London
Another hotspot which has come to the limelight is ‘North-West London’. It boasts of plans for a £4.5 billion regeneration project (Criclewood and Brent Cross). Considered to be a major development, this project will offer around 27,000 new jobs. So, one can expect a transformation of most of the urban spaces into improved green spaces and the like.
The Brent Cross Shopping Centre is set to expand its size, providing the area with an additional 200 retail brands, 40 more restaurants, a cinema complex and a hotel. What more do you need? Set to be completed in 2021/2022, its first selection of off-plan properties will go on sale in mid-2019. Sounds really a great property hotspot of London in 2019, isn’t it?
West London
In 2019 the Elizabeth Line (renamed) will hog the limelight paving way for more places within Central London’s commutable distance.
One area which is gradually rising in fame and popularity is Ealing Broadway. Served by the Central and District lines already, the cross rail will duly bring down the journey time to Bond Street to 10 minutes from 25 minutes. Amazing isn’t it?.
White City has risen to another hotspot ever since Westfield London’s £1.6 billion development in 2008 and the transformation of former BBC headquarters. This site has now been transformed into offices, 950 homes and numerous restaurants and bars which have facilitated its growth in economy.
Still finding difficult in tracing the property hotspots? In such a case ‘Tower Bridge Letting Agents’ will come into the foray. They aid in offering advice for investment, sales, property management etc. So, you can also approach them in terms of any guidance.
Conclusion:
Wish to become richer? Then start investing in the these hotspots and attain your goal of grandeur instantly.