Buying property in London is no mean feat, it requires a great understanding of London city areas and suburbs, a trusting estate agent, a hefty deposit and mortgage. However, in the next few years there are certain areas of London that are going to see an impressive rise in their house prices and so, by getting on the property ladder now, you will see yourself rewarded in the next few years. Here is a list of the top areas that are expected to see growth in house prices in the next five years or so.
Hounslow is situated South West of the city and is home to Chiswick and Brentford, two very popular places to live for those who work in the heart of the city. It is home to Heathrow airport and Osterley Park and House which is looked after by the National Trust. House prices here are set to rise by 19.4% within the next few years so, if you’re looking to move to work in the city, it may be worth scouting Hounslow for your abode.
Quite easily one of the most beautiful boroughs in London, Greenwich is steeped in history as it is home to the Meridian Line, the Royal Observatory and the Royal Navy College. It has incredibly easy access to the city which makes property prices in this area quite steep with an average selling price of £560,000, however, prices are still set to rise over the course of the next several years so it is worth investing in this area.
Kingston upon Thames
In South-west London lies Kingston-upon-Thames, a suburb that is incredibly popular with families and couples who are looking to start a family in the near future. Within the area lies Hampton Court Palace, Kingston University and Business School and the royal parks Richmond Park and Bushy Park. Even though it is still technically London, it has a wonderful country feel and has been attracting people for years. The average house price currently stands at £631,000 and is set to climb further by 19%.
Lewisham hasn’t been very popular in previous years but it is slowly becoming a popular place to live as it has cheaper house prices than Greenwich but is within a stone’s throw of it. The rent prices are one of the lowest in the city and an average house prices stands at £421,000, a whole £139,000 cheaper than Greenwich and only a few minutes apart. Even though the house prices have sky rocketed by 18% in a year, they are set to rise further in the next few years so this is definitely an area to invest in.
Ealing is situated in West London and is the home of the University of West London. It is famous for its beautiful Victorian semi-detached houses and its property prices have reached an average of £668,000 and are set to rise further in the near future.
Richmond upon Thames
Richmond upon Thames is uniquely situated both north and south of the River Thames and is considered one of the richest boroughs in London. Richmond Park, Twickenham Stadium and Kew Gardens can all be found here which makes the house prices rather pricey with an average selling price of £777,000. However, this affluent area shows no signs of decreasing prices so it’s a great place to buy property in the near future.
Home to world famous landmarks such Shakespeare’s Globe and the Shard, Southwark has an average house price of £593,000 and is a very popular area. The great thing about Southwark is that the area will continue to rise, thanks to its love of culture, history and shopping opportunities, which means house prices will also rise, making it a good choice for investment.
Even though the house prices in Wandsworth are higher than Kingston-Upon-Thames, at £706,000 they are still expected to rise in the next few years mainly due to the fact that it holds the lowest council tax charge in the country. It is a popular choice with families and commuters alike.
Camden is becoming an increasingly popular area due to their eclectic markets and buzzing music scene. Tourists tend to take advantage of the hotel deals in Lancaster Gate, which is a few minutes walk away from the heart of Camden, simply because it is classed as a must-see on many visitors’ lists, so imagine living within that atmosphere. Camden keeps evolving and with an average of £799,000 for property prices, they are set to soar in the coming years.
Hammersmith and Fulham
Hammersmith and Fulham is an expensive area to buy property with the average house price at £928,000 so it is difficult to get on the property ladder in this area. This borough is home to the large shopping centre, Westfield London and the O2 Shepherd’s Bush Empire so if you can jump on the property ladder, in a few years you will be rewarded with a vast jump in house prices.
Kensington and Chelsea
One of the more affluent areas of London, Kensington and Chelsea is known for it’s stunning yet incredibly expensive house prices with average houses prices standing just over £2,000,000. It is where the rich and powerful live, work and play and it is home to Harrods, Saatchi Gallery and the Natural History, Science and the V&A museum so it is incredibly popular with tourists too. It is exceedingly difficult to buy a house here, however, in the next few years the price of these breathtaking townhouses will jump up at least 20%.