East London Seven Boroughs Hot Property Areas
Top estate agents at Savills say that the East London corridor, comprising of the seven London boroughs of Waltham Forest, Havering, Redbridge, Hackney, Tower Hamlets, Newham and Barking and Dagenham, are set to see "robust levels of housing demand" when the Help to Buy scheme ends, due to the affordability and quality of life possible in the boroughs. This demand is likely because six of these seven local authorities have a lower average house price than London as a whole, and the median property price of homes in the East London corridor is a huge 14 per cent lower than the rest of London. Savills predicts that this means buyers who can no longer rely on government support to buy centrally-located homes will look to these more affordable areas instead. The East London corridor offers affordable housing in fantastic areas, with great local businesses, plenty to do, excellent transport links and a strong community feel - which is why Savills predicts their popularity will soar in the coming years. East Londoners will be well aware of the benefits of living in any of the seven boroughs Savills has identified. They're well-connected to Central London, offer connections to beautiful green spaces, are rich in East End history and have plenty of things to do for locals. Small businesses are often at the heart of these East London boroughs, and a great sense of community offers support to residents from all walks of life. On top of these traditional positives, these boroughs are experiencing a lot of investment into their future growth. Savills explained that public and private sector investment means more employment opportunities, upgraded transport infrastructure and improved local amenities. East London corridor boroughs are also seeing creative and digital industries leading the way.
Tags : INTERNATIONAL Investment Infrastructure Property residents Savills London Demand East Areas affordable areas