Estate agent Savills recently did a study on house prices in London, and have compiled a list of the 20 areas and boroughs in London where they believe the house prices are set to rise the most over a five year period.
We are sure that Savills has a plethora of information and data at their fingertips in order to carry out research like this, but for the sake of this article we are going to look at the top five areas, and try to work out what might be going on in those areas to justify Savills’ estimations.
5. Islington
Estimated average property price rise over 5 years: 23%
Islington has never been cheap, but you can bet your bottom dollar that the prices there are set to increase. We believe the emergence of the area around Angel with its shops and cafe culture and the feeling that you are a way away from Central London – when in fact you are very close – is the reason for this. Angel has been described as ‘the new Clapham’ for graduate-types looking to settle in London for the first time. With this crowd comes a bulging disposable income, which in turn makes Islington a sound investment.
4. Camden
Estimated average property price rise over 5 years: 23.5%
The word ‘Camden’ evokes the image of the ever-trendy open air market, specialist alternative lifestyle retailers and vintage clothing markets. But there is more to Camden then that; Camden is a huge borough, stretching all the way from the ‘mid-West’ area of Holborn right the way up to Hampstead Heath. We believe that it is this greatly contrasting culture of Camden that is going to be driving up property prices. Long walks on the Heath can be combined with quirky days out on Camden High Street, all of course supported by its proximity to the major London terminal, Kings Cross.
3. Hammersmith and Fulham
Estimated average property price rise over 5 years: 23.7%
Beautiful riverside properties, history, some fantastic drinking and dining options and ease-of-access out of London onto the M4 corridor all combine to make this the third smartest place to invest your money in London. Big businesses have long been setting up shop in the area and for good reason – the aforementioned M4 access and proximity to Paddington Station and even Heathrow Airport. But it is not all about the wonderful transport options OUT of London – because once you settle in here you might find it hard to leave.
2. Kensington & Chelsea
Estimated average property price rise over 5 years: 25.6%
This borough is world-famous for being one of the wealthiest areas on the planet. It has forever been where the rich, the famous and the Royal have chosen to call home, and that trend doesn’t look it’s going to be changing anytime soon. Getting your hands on a trademark 4-storey townhouse in the Royal Borough will not only set you back an eye-watering amount of money, but will also be very hard to do. Companies like Benthorp Property have been set-up in response to these demands, and are there to help you make one of the surest investments of your life.
1. Westminster
Estimated average property price rise over 5 years: 25.6%
Okay, so Savills have predicted a dead heat between The Royal Borough of Kensington and Chelsea and Westminster – so awarding top-spot in this article is entirely our own doing. Westminster is of course the political heart and soul of London, and is home to both the Houses of Parliament and Big Ben. The reason for the predicted price rise here is a simple economic model – Supply and Demand. Space in this relatively small area of the city is at a premium, so naturally space here costs more.
