How to sum up East London in five words? Quirky. Up-and-coming. Progressive. Eclectic. Investable.
These are all good points, but it is the last one which has property investors licking their lips at the money-making possibilities which lie ahead in 2018. Here we break down some of the East London areas tipped to make a splash in the investment pool as we progress into the new year.
Just a stone’s throw from some of London’s most popular areas and due to receive massive investment from the council, Whitechapel is an incredibly vibrant part of East London. Museums, galleries and affordable, high-quality restaurants pepper the streets of this area.
While it may not be the cheapest East London has to offer (average price: approx. £608,000), property prices are set to rise even further in the coming years.
With an average house price of around £433,000, Bow represents an incredible investment opportunity when compared to nearby areas such as Docklands, where prices have already soared to the heights of London’s property market.
Bow’s excellent transport connections and close proximity to one of London’s most enchanting parks (Victoria Park) mean that this area is set to make serious waves in the 2018 East London property market. There are sure to be many property seekers waiting with their surfboards.
The phrase ‘on the up and up’ can certainly be applied to East London’s Limehouse area, and with the average house price standing at just £450,000, this is somewhere first-time buyers and investors will be looking at in the coming years.
Home to Britain’s first pedestrianised market and boasting an exciting multicultural atmosphere, Poplar is yet to be pounced on by property-hunting predators, and the average price in this area remains at a far-from-eyewatering £445,000.
Situated next to the Thames, Rotherhithe is a rapidly-developing and incredibly trendy part of London. Home to the Brunel Museum and innovative pop-up bars such as Midnight Apothecary, it also has the transport link box ticked, with Canada Water tube station and Rotherhithe Overground servicing residents.
Average house prices of around £520,000 mean that it is not the cheapest, but these prices are still nowhere near the dizzying heights of areas like Wapping (average house price: approx. £706,000).
At Waltham Estates, we are lucky to be operating in and around East London – home to some of the most exciting, progressive and vibrant areas the city has to offer.
As we have seen, 2018 will be an exciting year for those looking to buy a property or make a sound investment. We look forward to offering our expertise wherever possible!