Best Buy-to-Let Hotspots in London
What Are the Best Areas in London for Property Investors?
Wondering where the best part of the capital is to invest in buy to let? If that’s the case you will also probably be hoping to get in before the Stamp Duty deadline at the end of March next year. So, before further ado, do take a look the following guide to where you should be investing in London, and why.
Well, the main reason the following locations are all doing so well is down to regeneration, together with excellent transport links into the centre of London and other areas of large employment, such as Canary Wharf. As a result, property prices just keep rising:
Canning Town, East London
Canning Town is all about accessible transport opportunities. Those working in the financial districts of the city, such as Canary Wharf, for instance, can get there from Canning Town in minutes. That’s all down to the Jubilee Line and the DLR. But it’s just as easy to get to the West End. Custom House will also be on the Elizabeth Line. The average rent here is £1,362 and yields are a very decent (for London) 5.3%.
Croydon, South London
Average properties here are around £371,000 and the train into London Bridge takes just 22 minutes. The introduction of Boxpark has attracted a younger crowd, and which also appeals to those taking part in the area’s growing tech scene. Some residents are beginning to describe Croydon and Shoreditch 2 (but with less expensive property prices). The average rent is £1,220 pcm with yields around 3.9%.
Hounslow, West London
Your average property here is worth around £412,000, but you’ll also find homes prices around £40,000 lower. In terms of location this property hotspot is a more 30 minutes by train from the centre of London. In recent years, 2,500 New Builds have gone up, with more than double that number planned for the following few years. Average rent here is £1,330 pcm and yields around 3.8%.
Colindale, North London
Colindale sits on the Northern Line, allowing residents to access London’s West End in half an hour. Property here is an average £420,000 but it’s still possible to buy for around £350,000 (for a one-bed). Colindale is already benefitting from plenty of regeneration, including Beaufort Park on the former RAF Hendon Aerodrome. Rents in Colindale are around £1,530 pcm with yields at a respectable 4.3%.
West Drayton, West London
This part of London offers canal side living, while the average property is around £370,000. There is plenty of open space to enjoy in West Drayton and, when you want a bit of city excitement, it’s possible to pop on a train heading direct to Paddington. The area is also on the route of the Elizabeth Line. Average rents in the area are £1,270 and yields around 4.1%.
So, there you have it – some of the top locations that landlords will find to invest in this year and next. And, no doubt, for the foreseeable future too. So, you know what they say… no time like the present, and all that…
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