New homes in Camden

Jul 25, 2017
Why Buy New Homes in Camden

Spotlight on Camden

From the edgy bustle of CamdenTown to the exclusive residential district of Hampstead, this affluent borough has undeniable charm. Offering an attractive combination of commerce, location and lifestyle, investing in property here could be a smart move. A vibrant economy Camden is home to 24,400 businesses – the second highest number in London after Westminster.Over 200,000 people work in, visit or travel through Camden every day. With its strong commercial centres, leading hospitals, top tourist attractions and three major rail stations, this borough generates over £20 billion of gross value added per year, which is equivalent to 1.6% of the UK total.[1] The Greater London Authority forecasts 24,000 new jobs to be created in the borough between 2011 and 2021.[2] A significant number of these are being created at King’s Cross Central – one of the largest developments in London, which has attracted prestigious employers like The Guardian, Google and Facebook. A hub for emerging businesses According to the ONS (Office for National Statistics), Camden has the third-highest number of start-ups in the capital, with 4,375 new enterprises being set up in 2014.[3] Much of the credit for this goes to Camden Collective, a regeneration project that has been helping start-ups get off the ground since 2009.[4] Providing subsidised co-working spaces and free creative tech courses, the project forms part of £2.2m of funding that the Mayor’s Regeneration Fund has invested to help Camden retain its title as one of the top creative economies in the country.[5] Highly-skilled workforce The largest industrial sector here is Professional, Scientific & Technical enterprises. Comprising of legal, management consultancy, architectural and engineering firms, scientific research, market research and advertising, this highly skilled, high-value sector accounts for 30.6% of all business compared with 20.7% in London. 59% of Camden jobs are in knowledge-intensive industries – the second highest proportion in London behind the City.[6] Popular with students Camden has 11 higher education institutions – more than any other local authority area. Home to University College London, the London School of Hygiene and Tropical Medicine, Birkbeck and the University of London, it's no surprise that this borough is popular with students. With more than 24,000 higher education students, of which 45% are from overseas, Camden has the largest student population in the capital.[7] Desirable lifestyle Each area within this leafy borough has its own distinct character. The much sought-after area of Hampstead attracts financial sector workers. The striking view and fashionable café culture of Primrose Hill draws countless celebrities. The lively nightlife of Chalk Farm is a beacon for revellers. And the cool markets and music bars of eclectic CamdenTown are teeming with all forms of human life from tourists and students to techies and hipsters. Fast transport connections CamdenTown has stations on the Northern line, and the mainline stations of Euston and Kings Cross are within easy walking distance. Further afield, Hampstead is also on the Northern Line and West Hampstead has three stations. West Hampstead Underground is on the Jubilee line, the new West Hampstead Thameslink station serves St Pancras, Farringdon and City Thameslink, and West Hampstead railway station has trains to Stratford. Current asking prices and rental yields As of January 2017, the average value of properties in the London borough of Camden is £1,072,147. It has increased 4.34% in the last 12 months and 44.66% in the last five years. For a two-bedroom apartment, the average asking price is £942,894 and the average asking rent is £2,773pcm, which means the gross rental yield is currently 3.50%.[8] This content is correct as of January 2017