One of the worlds truly iconic cities, London has long been coveted by investors the world over. In recent years, the London property market has been viewed as a safe haven for property investment, as large numbers of investors have driven demand for property throughout the capital.
Recent years have seen a considerable increase in London's population, with the past decade seeing an increase of approximately 800,000 people. With just over 200,000 new homes being built during the same period, it's understandable that this demand supply imbalance has driven property prices upwards.
According to the latest Savills five year forecast, London property prices are set to increase by approximately 10.4% per year, with increased demand around the major transport hubs such as the new Crossrail stations.
Amongst the popular locations within the London property market are the new developments in and around the Docklands and Stratford Olympic park areas. Close proximity to the city's financial district, and just a short tube ride into the popular West End shopping district, there is considerable demand from young professionals and couple seeking affordable living within the area.
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Why Invest in London?
London takes home the headquarters of some of the largest banks, such as Lloyds Banking Group. Making London one of the safest places to live and invest in economically. It has been predicted that the increase rate of the economy in London, is faster than cities like New York and Paris. London has also been considered to become the fourth largest economy in the world by 2020.
Tourism is also an important aspect which majorly contributes towards the economy, with the city of London taking home some of the most famous attractions. It also takes home to many attractive and popular markets, which are famously known. Alongside this, London provides employment for approximately 400,000 workers, which shows no signs in slowing down due to the city completely outperforming the rest of the UK.
Statistics have also shown a fast increase in the rate of property prices in London, making it the fastest rate than any other region within the UK over the last decade. As a result of this London are finding the rent sector is increasing at a faster rate than house prices, by a 4.1% increase since April 2015. This is due to the city of London offering some of the most luxurious developments to invest in.
There have also been many excellent investment schemes put in place for public transport across the city. This has drastically helped improve the connectivity of the city, which has resulted in the property prices increasing across the city.
Overall, London offers a great investment opportunity which caters for all markets. From providing luxurious and central buy-to-lets to developments situated close to universities, makes London an attractive investment.