Buying property in London
It’s good to know what to expect when buying in the Capital
‘London calling’, sang The Clash, and it certainly is calling for investors. The Capital has seen an influx of investment in the last few decades from UK and overseas investors, keen to invest and live in the popular developments across London.
The Centre for Economics and Business Research predicted house prices would increase 5.7% in 2016, despite the initial shock of Brexit. However, in London the firm predicted an increase in prices to of 6.8%.
The Royal Institution of Chartered Surveyors (RICS) has recently reported there is a desperate shortage of homes for renters. 1.8 million households will be looking to rent by 2025; a major concern when supply is not keeping up with demand. This is a serious issue and one that must be addressed by the Government and property developers as London’s increasing rental demand is set to continue.
RICS has also predicted that property values will rise by 3.3% on average for the next five years – meaning a house worth £390,000 today will be worth almost £460,000 by 2021.
Letting industry experts, HomeLet, analysed rents from August 2015 to August 2016, discovering the average rent in the UK had risen in price to 2.8%. Meanwhile, in London, the average rent a month for is £1,599 – an increase of 4% on the previous year.
Jennet Siebrits, Head of Residential Research at CBRE, comments: “In the UK, annual price growth to the end of May 2016 in London reached 13.6%, up from 8.7% growth one year ago, suggesting that demand for this world-class global city remains strong.”
Although no one has a crystal ball, you can see why investors are feeling confident about London property. It’s all about buying the right property in the right place, which is where we can help.
About Barratt London
We are the market-leading residential developer in the Capital. We are committed to delivering the highest quality in housing to meet London’s needs through great design, excellence in construction, outstanding customer care and long term asset management. From state-of-the-art apartments and penthouses in Westminster to riverside communities in Fulham, and mixed-use regeneration schemes in Hendon, we provide homes for every Londoner.
Where are Barratt London developments?
Our track record and expertise in development and planning shows our extensive knowledge of London property market and planning systems. Our homes represent good value, and we guarantee award-winning build quality and excellent customer service through our dedicated customer experience and on-site property management company, BRAM. We design and build great developments, which will enhance local communities for years to come. We seek to anticipate our customers’ evolving needs by continuously improving the homes and places we build. We are making London an even better place to live.
Our E1 development, Aldgate Place is located on the fringe of the City and offers one, two and three-bedroom apartments combined with strong gross rental yields. Demand for this location is high, particularly as it is located in Zone 1, with excellent transport links.
Between 2016 and 2020, JLL project capital growth of 34% in Aldgate and the development enjoys a rental premium of 45% compared to the rest of E1. It has attracted predominantly young professionals, and City workers, making it a solid investment.
Chapter Street in Pimlico, SW1 provides 31 one, two and three-bedroom boutique homes within a short walk from both Pimlico and Victoria Underground stations. Its elegant design, central London living, coupled with superb transport links, makes this a sought-after development.
Our developments are carefully thought through with a keen focus on the future. Hendon Waterside is located in north London NW9 and is an impressive regeneration scheme. 30 acres of land are being developed to include over 2,000 homes, parks and local amenities set within green surroundings, overlooking the protected Welsh Harp Reservoir. The development offers one, two and three-bedroom properties, alongside a range of amenities, including a fitness suite, concierge service and landscaped gardens. The regeneration is an exciting series of projects currently transforming the landscape in West Hendon and the local area. It will create a new gateway for London, seeing the area emerge as a modern, cosmopolitan and vibrant new community, with the opportunity for property value growth.
We have a wide range of developments across London, developing in key areas and creating new communities. Prices start from £367,000* at Harrow Square situated in Harrow-on-the-Hill will provide much needed new homes to the area. It will be a focal point for the rejuvenated town centre with a new library and prime retail space, creating a new destination in the heart of Harrow.
Multiple schemes are available to choose from on the London Help to Buy scheme:
- Wembley Park Gate, Wembley
- Hendon Waterside, Hendon
- Greenland Place in Surrey Quays
- Catford Green in Lewisham
- Enderby Wharf in Greenwich
- Putney Rise in Putney
Luxury riverside developments are situated on the banks of the Thames, from the luxurious Landmark Place at Tower Bridge to Fulham Riverside near Imperial Wharf, and set around an acre of award-winning landscaped gardens.
All developments focus on bringing a sense of community to the customer, with the benefit of our very own on-site property management company BRAM to care for the long-term.
Talk to us
No one is better placed to discuss the local area and amenities than our experienced Sales Advisers who deliver an unrivalled service and will be able to answer all your questions throughout your journey.
If you’re interested in buying a property as an investment, then our team can provide a wealth of advice and support. For a hands-off investor, buying one of our show homes through Sale and Leaseback is a smart way to expand your property portfolio. A fully-fitted, interior-designed Barratt London Show Apartment, townhouse or penthouse offers an investment opportunity with minimal effort offering you a guaranteed return of 6%.
* Prices & availability correct as of 27.11.16