12
New-builds & developments
28 OCTOBER 2018 • MY PROPERTY, MY HOME
MODERN APARTMENTS, WOOLWICH/ALAMY Where to buy and why
Bricks and mortar have always been regarded as a safe long-term investment in Britain but as Ray Clancy discovers, the nation is a mixture of diff erent housing markets with a wide range of prices, rents and growth
subdued lately, off ering good prices for buyers. What you do with a property investment varies, with some investors happy to buy a home and see the capital grow over the long term, while others buy to let out and aim to achieve a steady income from doing so.
W
LONDON T e capital has always been a popular place for property investment and attracts a large number of buyers from abroad. Brexit concerns have cooled the demand from overseas, but recent analysis from real estate consultants Savills and Knight Frank
ith Brexit on the horizon, some markets like those in London, have been more
suggest that the bottom has been reached and prices and rents are poised to start rising again — good news for those who want to see capital and rental growth. T e latest LCPAca Residential
Index covering June shows that there’s been a rally in average prices in Greater London over the last quarter and the opening of the Elizabeth line (Crossrail) is set to boost property prices and rents along its route, which connects Essex to Berkshire via Docklands, the City and Heathrow Airport.
WOOLWICH Estate agents are naming Woolwich as one location set to benefi t from the launch of the Elizabeth line and prices have increased by 28.8% in two
years. Even so, prices at an average of £323,940 should be well within the range of fi rst-time buyers. According to Savills, prices in
Woolwich have been driven up by young professional buyers and the fi rm reckons the rail line will encourage even more buyers.
ACTON With its mixture of Victorian terrace and 1930s houses along with a number of new developments, Acton off ers property investors a range of potential homes and agent JLL is predicting that it too will benefi t from the opening of the Elizabeth line. Overall, sold prices in Acton over the last year were 12% up on the previous year and 15% higher than they were in 2015.
GETTY
CRICKLEWOOD Regeneration is likely to boost the market in North West London with Cricklewood and Brent Cross set to benefi t from a £4.5bn regeneration project that will provide 7,500 new homes, 27,000 new jobs, new leisure facilities and improved green spaces. T e development is set to be
completed in 2021; however, the fi rst
selection of off -plan properties will go on sale in the middle of 2019. Property prices in Cricklewood
have been fl at in the last year, which means that those investing now could see good growth in coming years, especially when a new T ameslink station opens in 2021, which will see the commute into central London cut to just 12 minutes.
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