This blog was supplied by estate agent Eden Harper, which delivers local knowledge of Brixton and Battersea to clients selling, letting, buying and renting in those areas of south-west London.
What do you look for in an estate agent or property management agency? Professional competence should come near the top of your list, together with early success in selling your home or finding reliable tenants to occupy your rental property.
But there may be something equally valuable that contributes substantially to achieving these results – the personal touch, a first-hand familiarity of the area in which your property is situated and an understanding of all the features and issues that go towards making your home part of the community.
These are the professionals most likely to be among the first to identify up and coming growth areas for property investment.
A local focus and a local presence, therefore, might make the world of difference when you are looking to instruct an estate agent to sell your home or a letting agent to manage your let property.
Local knowledge and the identification of potential for growth may be especially important when it comes to large cities such as London.
Up and coming areas of London
If you are prepared to look towards some of the outer London boroughs, you increase your chances of identifying new areas of potential growth when it comes to property investment.
According to television’s ITV News, for instance, following a slowing down of prices in central London, the following may be some of the up and coming areas to watch in further flung boroughs:
- Registering some of the highest annual rates of residential property price growth are the boroughs of Barking and Dagenham (at 12.5% a year), Croydon (14.2%), Greenwich (12.4%) and Newham (14.2%).
- All of these rates of property price growth far outstrip average house prices in other major UK cities, some of which have registered no growth at all or even a small decline.
- To illustrate the potential for further growth, the report suggested that average house prices of £275,887 in Newham, for example, are currently one-third of the cost of the average London home, but 50% higher than the UK national average.
To take advantage of some of the differences in London house prices, whether you are buying or selling to occupy or to let to tenants, you are likely to be looking to an estate agent to help you in your search.
Those agents capable of stealing a march on the competition are likely to be those with a close ear to the ground, a keen eye on the street and a continuous, everyday working presence within the particular community they operate in.
A locally based estate agent, therefore, may be the best placed to advise you on any up and coming London borough for your investment in property.
For more information about property investment in London click here, alternatively to get in touch with CXG Invest you can call us on 01440 712216, email email@example.com or register your interest.
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