Prime London property has boomed in recent years with eye-watering price rises. But now, the market is changing and ‘prices and sales are dropping‘ (http://www.ibtimes.co.uk/). Those who usually put their money into luxury London property are now altering their investment strategies.
Chancellor George Osborne has adopted some unusual policies which have essentially attacked the sector with the hope of increasing regulation and reducing the amount of poor quality supply. However, one of the most prominent effects that these changes have caused is to see both national and international investors leaving luxury property behind, and instead, channeling their money into units outside the capital.
According to research, 2015 saw 21% fewer prime central London transactions when compared with the year before. However, this is not enough to pull the plug on London property as a whole. Instead, many are keeping the market under £1 million busy and purchasing property in high-growth areas. These currently include Croydon, Walthamstow, Epsom, Sutton and Chertsey. These key hotspots offer much better returns, present lower risk and also give the investor the chance to own multiple units which allow for increased capital growth.
To find out more about these areas and exceptional investment opportunities, click here.