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House prices in London are getting more and more expensive as the years go on. However, that shouldn’t put you off from investing in property there. You just need to know the best areas in which to invest your money. These are areas that offer reasonable house prices and are also attractive to renters. So, if you are looking for an affordable property that you can easily find tenants for, check out these five areas.
This area of North London is located in Islington. Islington has a reputation for expensive properties. However, its borough of Finsbury Park has managed to keep its prices relatively low. In fact, house values tend to be around thirty percent lower than the rest of Islington. Commuters love Finsbury Park as it is very close to public transport links. It is on the Victoria Line and is also very close to the mainline, which links up the City. If you buy a flat here, do it up and rent it out, it will be very appealing to young professionals.
Watford may not technically be in London, but it is perfectly placed for commuters. Many people are looking for houses here, as prices are too high in central London. Getting into London is very easy, though, as it is only a fifteen-minute train journey away. Just like Finsbury Park, you will find that you will have a lot of interest in your rental property from young professionals. If you are interested in Watford’s housing prices, you can see Taylors for detailed info.
Are you interested in developing a high-end property earned at the well-heeled set? Then you should consider investing in property in Marylebone. This area was once overshadowed by its northern neighbour, Mayfair. However, the neighbourhood is now seeing a boom in interest in its properties. Prices may be slightly high, but you will easily be able to rent it out at an equally high value.
Honor Oak Park
Honor Oak Park is one of the London areas that has been revamped in recent years. It is in zone three of the tube map, meaning it is still fairly central while still retaining a quiet neighbourhood vibe. The rental market here is mainly made up of young families looking to be close to the area’s excellent schools.
If you love Greenwich but can’t afford its high property values, you can always settle on nearby Woolwich. The area may not be as desirable as Greenwich, but there is still a high demand for rental properties in this area. And there is also no shortage of houses to buy as properties are continually being built in the area. Now is the best time to buy in Woolwich as prices are lower than the rest of London. But no one knows how long that will last for.
You may have to pay slightly more for a property in London than anywhere else. But its average monthly rents are higher than elsewhere too. So you’ll easily make your money back.