Springing into House-Hunting Season
This time of year, and Easter weekend in particular, is traditionally the beginning of the spring house-hunting season; developers and sellers alike will often wait until now to market their properties, hoping that the lighter evenings, brighter weather and excess chocolate consumption will boost the spirits of their potential buyers.
Development across the whole of London is thriving in line with the government’s plans to rectify the prolonged shortage of housing available for first-time-buyers. A property purchase should be seen as an investment for any buyer, not just the colloquial ‘investment buyer’, because there is an egg-cellent potential for return if the long-term effects of the purchase are properly considered. So what areas are expected to become f-lamb-oyant in the future, thus making a sensible investment?
Plans have been revealed to redevelop the former BBC Television Centre in White City into an entirely residential block of flats, with Berkeley Homes intending to develop another 1,500 properties just across the road. Although the most expensive penthouses will be sold for over £7million, the more standard flats are expected to be marketed for £750,000. Another new development is anticipated at Fish Island Village in Hackney, incorporating 600 new homes starting at £580,000 for a two-bedroom property. Haringey Council has agreed a new deal with a builder to develop around 5000 new homes in Wood Green, with flats starting at £400,000 and houses at £650,000. In addition to the vast number of plans that have already been submitted, the government has pledged to provide a total of 1,000,000 new homes across the UK between 2015 and 2020, and there is still a long way to go to achieve this.
It is clear that such redevelopment and planning proposals across London will only increase the opportunity for all types of buyers to make investments in the very near future that will provide fantastic long-term returns. So if you are hoping to use the upcoming long weekend for some overdue house-hunting, remember to consider the future potential of the area in which you are hoping to buy. The most attractive and affluent available area now may soon fall behind areas that you would never have considered before.
And when you do decide on the best property to purchase, remember to get in touch with us on 01279 755777 for a cost-inclusive conveyancing quotation, so that you can complete the purchase, collect the keys and start making those returns on your investment even before the Easter Bunny comes knocking again next year.