London is the number one place to live, work and play. However, when it comes to buying property in the UK’s capital, it’s notoriously expensive. That’s why if you are interested in buying a London home, it’s really important to choose your area carefully.
To help, below you’ll discover some of the top places in London to buy property right now. Whether you’re looking for an affordable first home, a buy-to-let investment or a luxury abode, you’ll find an area to match your needs.
Best places to buy-to-let
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The buy-to-let market is a very profitable one; especially in London. However, the best areas to invest in this type of property do fluctuate slightly from year to year. As it stands, the best places to invest in buy-to-let property in London in 2017 are Newham, Southwark and Richmond Upon Thames.
These are just three of the areas currently experiencing significant rental growth. It’s also worth noting that the further out of London’s centre you go, the highest rental yields you’ll experience. So, keep this in mind when choosing the best property.
Best places to buy luxury property
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If you have your heart set on a luxury London property, Mayfair, East Croydon and perhaps most surprisingly – Peckham. Although Peckham was once known for its high crime rates, the area has now been fully transformed into a luxury, prestigious neighbourhood.
No matter which part of London you’re looking to buy, there’s plenty of luxury homes available. It’s best to go through a luxury estate agent such as Strutt & Parker, to help you find the best luxurious property to fit your needs.
Best places for first time buyers
Due to property prices being significantly higher in the UK’s capital, many first-time buyers struggle to get on the property ladder in London. However, there are some bargains to be had if you’re willing to shop around.
Currently, the least expensive areas to look into include Croydon, Newham, Haringey and Hackney. No area is ever going to be cheap, but these are the places which currently offer the lowest prices.
When choosing the best place in London to buy property, it’s important to take into account the reason you’re buying. As you can see above, different areas are better suited for specific types of properties. Whichever area you do choose, it’s also a good idea to compare as many different properties for sale as possible to ensure you’re making the best investment.
