Are You Interested in a Buy to Let Investment in London? Here’s Where You Should Look
Many new developments are cropping up in different areas of London, and regeneration programmes and schemes are already underway along with better transport links, more entertainment options and dining options, and jobs and schools. This is good news indeed for investors who would like to get a London ‘piece of the pie’, as they say, but investors need to know which areas are best for investment and present real opportunities to make a tremendous return. So, are you interested in a buy to let investment in London? Here’s where you should look.
First: what you should know
Before looking at various buy to let opportunities in London, you should first check out the local demand for rentals. You wouldn’t want to invest in property which will stay idle for a long time, after all. There are, for instance, portions of central London which have a hard time attracting tenants due to higher-than-average rental prices, but there are areas where property tends to become snatched up in no time. This includes the southeast, where the impending arrival of the Elizabeth Line (or Crossrail, as it is also known) is projected to raise the demand for rental property in the area.
The best buy to let investment areas in London
The area of east London has a great rental yield, particularly when it comes to Stratford. Since the Olympics in 2012, Stratford has experienced a lot of regeneration, and it continues to regenerate with an average rental yield of almost 4.5%. The area already boasts of great transport connections, thanks in part to the Jubilee Tube line, but it is set to have even better transport links with the arrival of the Elizabeth Line in December of this year.
The rental yields for Ealing Broadway are at around 3%, but this western portion of London will also benefit from Crossrail in the last month of the year. Instead of a commute time of 25 minutes, the journey time to Bond Street from Ealing Broadway will be reduced to only 10 minutes, and the station and its environs are set to undergo a modern refurbishment and redesign as well.
East Ham is also in the east, like Stratford, and you may want to seriously consider a buy to let investment in the area due to its regeneration scheme, which will modernise it in the next few years. East Ham is London’s East End, as you may already know, and whilst it would be great to sample its pie and mash, you’d be surprised at the many people who choose to make the place their home. Proof of this is its rental yields of almost 5%.
Further in the south is Greenwich Peninsula, and developers have recently become attracted to its potential, especially due to its location on the River Thames. The area is now slowly being transformed into a bustling, busy neighbourhood, which is part and parcel of an ambitious 25-year regeneration and development plan, as confirmed by London property experts like Gerald Eve. For the area, you can expect average rental yields of around 4%.
There are other portions of London worth looking into, such as Bexley, Thamesmead, Wembley, and White City, so it’s best to hurry and see all the potential of these areas for yourself.
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