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Not many UK cities are as brimming with potential for property investors as the booming capital of London. It comes as no surprise that with all that the capital has to offer, ever-increasing numbers of people want to live there. It hosts a varied range of different and unique properties at every price bracket, spread throughout 32 boroughs and 48 neighbourhoods.
When choosing an area of the densely populated capital to invest in, you want to choose a location that is not too costly, has easy access links to central London, and is prone to upsizing potential and major development as these are the biggest factors that will attract buyers into taking residence, as well as increasing the chances of more and more people wanting to move to and invest in the area.
Investing in a less developed area – rather than a completely redeveloped and striving borough – may seem unnecessary to some. But, it is the less-developed areas that have more potential to become more developed, therefore allowing investors to invest in less costly properties that could soon substantially shoot up in price if enough investment and development is provided by the council.
Here is a list of some areas of London that we believe to be the best destinations for property investment and to see you make a good profit.
Barking and Dagenham
Barking and Dagenham borough has the lowest average house price within the city of London, at around £335,924. The London borough boasts strong transit links to the centre of London, which are only going to get better as a result of the Crossrail and the Overground expansion being developed at Barking Riverside. Development of transportation links in the area is anticipated to raise property values, which, as a result, creates the impression that investing in property in Barking and Dagenham will not only be relatively inexpensive but also a very wise investment as the area is likely to see growth.
As well as being close to central London and having improving transport links into the centre, the Barking and Dagenham borough also hosts many manor homes, museums, and several parks, giving you and potential residents many cultural highlights to fuel your free time.
Leyton, a somewhat redeveloped Victorian neighbourhood, divided from Hackney by the River Lea, which it gets its name from, has been regarded as a hidden treasure for younger individuals and those who don’t quite have the budget to purchase a property and live in upbeat, but costly, areas such as Shoreditch.
A vibrant residential neighbourhood that hosts a portion of Queen Elizabeth Olympic Park, its pedestrianised strip is studded with unique, distinctive and local stores that complement its booming nightlife, which offers a variety of music and drinking night-out opportunities. The diverse London area boasts a village ambiance and feel, along with a variety of outstanding cultural events and – best of all – an ongoing investment from Waltham Forest and local residents.
Consequently, this not only makes Leyton a great and attractive location to live in but also a very smart investment as housing prices are not extortionate and the area is constantly improving as a result of continuous council investment and funding. The council has invested millions of pounds into the area, providing it with quality pubs, restaurants, shops and even improved schools and education centres.
As a result of this continuous development of the area, the prices of houses and property are beginning to skyrocket as more and more people are looking to move to such an appealing London neighbourhood. This is nothing short of an investment goldmine for investors and property developers looking to cash in on a wise investment. This is great for the community as it means more interest is being shown in the area, attracting even more investment. Investing in property in Leyton will certainly allow you to benefit from the ongoing development of the lively destination.
What makes this bustling East London borough even more appealing for investors is that it will be brought even closer to the core of London with the opening of the Crossrail system. It is just 10 minutes away from Liverpool Street on the Central Line and beneath the wonderful London skyline.
Battersea, located in the central London borough of Wandsworth, is a great destination to make a purchase for anyone wanting to scale up from their existing home and start a family. Homes in this area have an average property price of around £780,000, which, for people who require a location that is within easy distance of central London, makes for a worthwhile investment.
And, with a plethora of new properties, residences, stores, bars, restaurants, and small business units for establishing organisations, all within the Battersea Power Station development plan, there is more than enough for anybody seeking a vibrant social environment and busy but relaxing lifestyle.
Situated in South West London, on the banks of the River Thames, its location is completely ideal for all individuals. You’re located in the heart of the city, with easy access to all the city has to show and do, although you are never far from peaceful outdoor places either. Battersea Park, located on the eastern outskirts of Battersea, offers a variety of facilities such as the Peace Pagoda, a family zoo, a boating lake, and all-weather athletic areas. Even better, the recently restored Victorian fountain show is also available to enjoy.
Nowadays, Battersea is particularly popular among young professionals owing to its closeness and links to central London, as well as with families thanks to its abundance of green space and opportunities for children. As a result of the growth of Battersea’s popularity, various new and exciting bars and restaurants have opened in the neighbourhood, making the borough an attractive prospect.
All of these factors have contributed to making Battersea one of the best areas for investment in London as it attracts two huge market audience’s families and young professional’s. So, whether you invest in a large 3-bedroom home or a small, quirky apartment, there’s certainly a housing market out there.
Tower Hamlets is considerably costlier than its surrounding boroughs, yet it is an area with quite a lot going on within it. Covering most of the traditional East End, Tower Hamlets contains various popular neighbourhoods, including Whitechapel, Poplar and Canary Wharf – all of which are appealing prospects for potential investors seeking a relatively secure and wise property investment.
Tower Hamlets Council and Transport for London have successfully obtained government funding for a £9.3 million improvement in Whitechapel Road, very recently. Whitechapel Road is the historical and cultural centre of Whitechapel, as well as the location of its famous street market which has a lot to offer. After the completion of the Council’s new Town Hall and the opening of the Elizabeth line, as well as an array of other upcoming development projects and investments, Tower Hamlets and White Chapel are undergoing fast development.
Prices of property in this area will most likely remain the same but could easily rise in the future with the right development and investment – either way, it is clear that you won’t lose money on this secure investment – and will likely see profit at some point. Whitechapel may be receiving the most funding, but all other areas of Tower Hamlets will reap the same benefits as more and more people will be drawn to the borough as a whole.
Another considerable area of London to invest in is the large town of Ilford, located in the London borough of Redbridge. Ilford is already becoming another of the region’s major commuter and property hotspots, with the Crossrail’s upcoming completion only acting as an accelerating factor to the area’s transition to a transport hub. In conjunction with the Crossrail project, Ilford will benefit from a multimillion-pound development project that will restore vast swaths of the area. Moreover, Ilford is also planning to build its first tower, which is expected to be completed come the end of 2021.
In the past five years, average house prices in Ilford have increased by a staggering 60%. However, there is still plenty of time for property investors to profit from this robust growth and interest in the area. Even better, despite the huge growth in property prices, Ilford’s housing prices remain one of the most inexpensive in the city – so investing in the area of the property ladder is still a safe investment that could see huge economic growth. If anything, this increase shows just how much interest and development have grown in the area, highlighting the potential it still has to unravel for home seekers.
The East London borough of Havering may just well be the location for you if you are seeking plenty of green space and a break away from the business and chaos of the capital’s city centre. Havering, in addition to being one of London’s many desirable locations to live, has attracted a variety of enterprises in recent decades. Industrial, logistics, and engineering are just a few of the industries that make up the local economy.
It is the ultimate spot for those who want plenty of field and green space to enjoy the beautiful outdoors and stay active with peace of mind, all while taking respite from masses of commercial buildings, infrastructure and vehicles, noise pollution and crowds of people. A large portion of the area’s land consists of parks, farmland, recreation ground and unspoiled natural land.
This is ideal for families with children or those looking to start families, as well as those who simply enjoy having plenty of green space as children and families will be able to enjoy the wonderful outdoors and more easily engage in physical activities such as playing, biking, walking, sports and fun games, without having to travel further afield.
Like with many of the other areas on our list, Havering is also set to have a Crossrail station, which will better interconnect it to central London and its surrounding areas. This is another factor that will increase the demand for investment property and residence in this London borough, as transport and accessibility, especially to the city centre, are major deciding factors for all homeowners. The council has even made significant upgrades to the borough’s road structure in recent years, making even individual transport better. As a result, each of these enhancements has noticeably enhanced traffic flow and driving experience for homeowners.
Havering already has a handful of tube stations that link to the District Line, as well as being on the London Overground, London railway, and the Tilbury and Southend Railway lines. So, as if Havering weren’t already full of transport and development opportunities already, it is only destined to get better.
Boasting an average online valuation of £378,746, the East London borough is actually the fourth most inexpensive area in London to purchase a home or property.
Long-term investors may find the central London area to be a more reliable destination for investment, as many areas of London central are always safe and smart choices for investment and rental property. There are not many areas of London that are as dependable for investors as the swarming area of Westminster.
Located right at the heart of the bustling capital, the central London Borough of Westminster is the most culturally and politically significant area of London, home to the Houses of Parliament and Big Ben – a prime location of London. Westminster is divided into various districts, including Hyde Park, Regent Street, and Mayfair. Property in either of these locations is almost certain to keep its value in the future. However, despite being ideal for long-term investments, these areas will certainly be a costly investment, which isn’t to say that it will not result in a substantial profit in the future.
In summary, in the process of deciding where to invest in a property in London, you should examine numerous criteria and factors that will increase interest in the area and sway residents to want to live there – for example, transport links and green space. The London property management market changes swiftly, with properties typically selling as soon as it is posted. Therefore, you must first identify what your criteria are, and then arrange your viewings as soon as possible – otherwise, you may find that the property you had your heart set on has already been sold.
For additional assistance, we actually have our own investment guide that can be downloaded and accessed free of charge. You can also get in touch to discuss your options with one of our expert advisors.