Why Choose East London Properties?
East London properties are among the highest performers for both historic and potential future price growth, according to a new borough by borough analysis of residential housing market in the capital, conducted by CBRE.
Since the end of Second World War the bombed-out East End, with its disused docklands, has become the epicentre of London’s regeneration. Sixties housing estates were followed by far grander schemes: the transformation of the Isle of Dogs into Canary Wharf, the construction of London City Airport on the Royal Docks and the redevelopment of run-down Stratford to host the 2012 Olympic Games.
According to New London Architecture, out of the 541 tall buildings in the pipeline for London, the bulk are in Tower Hamlets and Greenwich, while part of the Royal Docks is being turned into the Asian Business Port, which will generate 30,000 jobs and add £6 billion to the UK economy.
House price growth in this particular area is therefore set to continue, outstripping the rest of the capital, says CBRE. Values in the east will climb by 11 per cent over the next five years, the greatest increase forecast for any London region. Nonetheless east London properties are still among the most affordable.
Goldenstone’s new development, The Osborn Apartments offers a limited collection of 1, 2 and 3 bedroom apartments that combine an industrial inspired, warehouse design with luxurious interiors in one of East London’s most vibrant, creative and desired neighbourhoods.
The appeal of east London is not just about new homes at a more affordable price. The region has retained an intangible coolness that is spreading out from the likes of Hackney to Shoreditch along the train and Tube lines. Today, it is a globally recognised hub for art, culture, design and technology and neighbours the world’s leading financial centre.
CBRE’s head of residential research, Jennet Siebrits, puts this down to the emergence of the tech scene, bringing with it a new culture to east London which complements the existing one.
“Regeneration may have smoothed some of east London’s rough edges but it has attracted new residents who have helped it maintain its cool reputation – tech workers and creatives. A younger buyer is drawn by the lifestyle as well as by competitive house prices”, says Siebrits.
Even despite an inevitable cooling-off period in the hot London housing market, compounded by prolonged political uncertainty, East London properties continued to ‘outsell’ the rest of the capital. As buyers get much better value for money in east London and it’s a really accessible market for first-time buyers using Help to Buy.
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