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Home > News > London: A new residential property boom and where to buy now

London: A new residential property boom and where to buy now

Thursday, February 13, 2020

Brexit finally agreed and a strong Conservative government now in place is set to pull London residential property prices out of the doldrums. Growth predictions now abound wherever you look and as the available projects get taken up, the huge residential, annual build shortage, will be exposed later this year, creating further upward impetus on prices of homes in the capital.

“Breaking the Brexit impasse has prompted a housing boom in the capital.”
Daily Telegraph – January 2020


“The number of new property buyers registering with the company climbed to its highest week total in more than 15 years.”
Knight Frank – 2nd week January 2020


“Sales up 19% year on year” December 2018/December 2019. Expect a “buoyant Spring market.”
Rightmove – January 2020


“UK house prices climbed at their fastest rate in two years.”
Office for National Statistics – 11th January 2020


 

During the last three years Brexit and a weak Conservative government dragged prices in Central London back. The currency and residential market dropped and stagnated. New building starts in Central London collapsed to negligible levels.

Now, with a fresh outlook and a powerful new government in place, Sterling has reacted with an upward momentum and buyers are beginning to flood into the residential market.

The big question becomes, where to buy?

Traditionally the West of London has always been an established, highly sought area by buyers. However, in recent years it has been “priced out” by its very popularity.

Now we have an opportunity, after a decline in prices and prior to any building boom materialising, to buy in the West.

Mayfair, Park Lane and Knightsbridge remain very highly priced for the average investor and yields of 1½ and 2% just do not look attractive on a mortgaged investment.

A look further West, brings us to Chiswick. A well established traditional suburban village with great lines of communication to Central London.

In the tower block boom of Canary, Battersea and the modern City of London, this area in the West has been left behind. It is set to do well because it is such an attractive and comfortable place to live. The community is village friendly in what is really a strong London satellite town.

Young families have flocked to Chiswick over the past decade because of this friendly atmosphere and the fact that it is serviced by a long list of top-quality schools. All within easy reach of the leafy suburbs. Belmont and Strand stand out as famous state schools. Also within easy reach are Southfield, St. Mary’s, William Hogarth, Chiswick school and Cavendish. Private schools are represented by Latymer and St. Paul’s – both the boys’ school and the separate girl’s school.

In terms of access to London from this green suburban town, there are four tube stations to choose from, covering both the Piccadilly and District Lines. The mainline railway station is a fast 30-minute access to Waterloo.

Perhaps the most exciting and pleasant feature of all is the High Road. This is the longest High street in Great Britain.

It is simply packed with shops, restaurants and pubs. Fantastic coffee shops like Angie’s Little Food Shop and an array of exciting restaurants by the River Thames, Annies perhaps being the most famous, but the list is long – Sam’s Brasserie, Carvosso’s, The Lamb pub, Vinoteca, Strand on the Green, again near the River Thames and some fabulous pubs, represented by the Bell and Crown, The City Barge and the Buck’s Head.

This Eclectic mix of eating houses is indispersed with “old style” family Butchers like Wyndham House and modern hair dressing salons such as Blo Bar which has a creche so that you can relax, have your hair done and the kids get looked after for you.

The traditional Fullers Brewery, built in 1845 stands next to the Chiswick Mall and apart from the excellent beer brewed there, welcomes visitors to see the operation.

Average property prices in Chiswick

Average residential property prices in Chiswick currently stand at £927,192. The land Registry indicates a strong market evolving with a year on year rise of 26.6%. This trend is now set to continue due to the shortage of new build stock.

With Heathrow Airport only 20 minutes away and plenty of easy access to Central London within 30 minutes, new build properties with proximity to tube or rail are going to be in very heavy demand.

GIHLondon now offer the opportunity to enter this market with completed New Build flats.

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