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Experience Invest

Is London Experiencing a ‘Mini Property Boom’?

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The team at Experience Invest offers advice and assistance on residential property investment. We’ve been involved in the sector for over a decade, and during this time London has remained a constant source of interest for investors from both the UK and overseas.

According to recent reports, London is experiencing a ‘mini property boom’ in some parts of the capital – namely the Docklands and surrounding areas.

A news release recently published on the Property Wire website reveals that in the first half of 2015, prices rose by 2.6% in Greenwich, 3.4% in Canary Wharf and Docklands 14.4% in Blackheath.

The statistics, taken from Land Registry data, also affirm that residential property sales in Canary Wharf were 7% higher in the first nine months of 2015, than in the corresponding period of 2014.

So why is this happening?

Experts believe the boom is being fuelled by London’s soaring technology, creative and financial industries. Locations such as Canary Wharf, the Docklands, Blackheath and Greenwich, prime locations for such industries, are seeing residential property prices soar.

According to estate agents Chestertons, prices in some areas are now increasing more than 50% faster than in the downturn.

“Sustained price growth makes Docklands and slightly adjacent areas such as Greenwich and Blackheath an ideal investment. London has now overtaken New York as the world’s undisputed finance capital, fuelling a jobs boom and a vigorous corporate rental market,” comments Cory Askew, area Director for Chestertons in North and East London.

Revived financial sector

A strengthened financial sector, in particular, is believed to be causing demand for quality residential properties rise. Banks are providing more favourable buy-to-let finance packages, which is also encouraging individuals to invest.

Bradley Bartlett, head of corporate and relocation services at Chestertons, explains: “Areas such as Greenwich and Blackheath, with plenty of outdoor space and good transport links, are becoming hotspots for workers looking for a comfortable commute to the City or Canary Wharf. And with the current jobs boom, demand for corporate-standard property has never been higher. Our department has seen demand rise by almost a quarter year-on-year, and there’s no sign of the frenzy abating.”

About Experience Invest

Experience Invest is a London-based independent property specialist. We focus on sourcing real estate opportunities across the UK. Our specialisms include residential investments, student property and care home investments. We work with clients in the UK and internationally. The company is regularly featured in the press, including in The Telegraph newspaper, on Yahoo Finance, and by the global news organisations Reuters.