Investing in property in South West London in 2016
Voted the best place to live by readers of Time Out magazine, Clapham still pulls in crowds attracted to SW4’s family-centricity, lifestyle, nightlife, affordability and accessibility. So, what’s not to like about Clapham? Naturally, Robert French, Head of Knight Frank’s Clapham office, thinks it ticks all the boxes.
Where to invest in property in South West London in 2016
"Over the past 12 months South West London, specifically Balham, Tooting and Clapham, have performed particularly well, both in price growth and sales activity. Clapham, however, leads this trend. There are many reasons for this strong performance, however the primary driver can be attributed to the value that is on offer when compared to other central locations.
"Well-appointed apartments and houses in the prime spots of SW4 still trade at a rate per sq ft comfortably below that of the surrounding areas, making the Clapham more accessible to buyers, whilst at the same time offering genuine scope for growth in the short to medium term.
"For the analytical investor, Clapham is in zone 2, has 3 underground stations, the busiest over ground station in the country and is in close proximity to some of the capital's largest regeneration areas.
"For the resident, Clapham has some of the finest schools available- state, private and international. It has 220 acres of beautiful parkland on the common, fantastic markets, boutique shops and celebrated restaurants.”
Chelsea & Wandsworth
Chelsea has historically been one of London’s most exclusive and expensive areas. New waterfront developments are providing much needed stock and with improved transport links, demand continues to soar. However, there are still bargains to be found, says Harriet Taylor, Negotiator at Knight Frank’s Chelsea office.
“Personally, I would invest in a little corner of the Royal Borough of Kensington and Chelsea in the area close to Lots Road where values are typically 30% lower than the rest of SW10. You can find a three bedroom maisonette with a roof terrace for close to £1m, so for someone wanting to be in the borough and have a bit more space, this is the perfect place to look. In the last three years prices have already improved by around 60%.”
"Aside from this, the train station at Imperial Wharf has given a much needed connection to the city, with a journey to Waterloo taking 24 minutes. There is now also the state of the art new development Chelsea Waterfront, which is currently being built in and around the old Lots Road Power Station.
"This is a spectacular development of 700 flats built around open gardens and the iconic power station. Inside, there will be a covered retail area with high end boutique food shops and delis as well as a number of cafes and shops. This will vastly improve the access to local amenities for the area and create a hub for local residents.
"The first phase completes in 2016 and overall completion is 2018, so an investment made now will see dramatic improvements in three years. New developments such as this have historically had a marked effect on house prices in the surrounding area.
"Often referred to as the One Hyde Park effect, these new developments typically trade at a premium to the surrounding market, lifting prices in the immediate area as people become more aware of the new development and the relative good value that the resale market offers."
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