Landlords think North East London is next buy to let hotspot
Properties located in North East London on the underground’s Central Line have been ranked the next property hotspots by landlords.
These include Woodford, Leytonstone and Redbridge with this part of London identified by 30% of landlords as the best place to invest, followed by South East London and then East London.
Overall 28% of landlords are expecting to increase their property portfolios and they are optimistic, believing that HS2, the high speed rail route linking London to Birmingham, the East Midlands, Leeds and Manchester, will help property prices in London to rise. Some 63% believe the new transport link will cause property prices in the capital to rise and 33% thinking that they will rise dramatically.
The research from insurer Direct Line for Business, also reveals that when it comes to transport links, properties located near underground stations were the most desirable by landlords with 80% ranking them as attractive or extremely attractive.
Properties located on Central line stations were ranked as offering the best investment opportunity, followed by those located on the Jubilee or Piccadilly line while the District Line, Circle Line and Bakerloo line were the least attractive.
Some 72% of landlords rank properties with national rail connections as attractive to prospective tenants, while London Overground links were ranked desirable by 71%, bus routes by 68% and tram routes by 60%.
‘Landlords across the capital will always be looking for the next big thing in property, as there are always trends in demand with people wanting to rent in the latest up and coming area,’ said Christina Dimitrov, business manager at Direct Line for Business.
‘We have seen this before with locations such as Tooting, Bethnal Green and Walthamstow suddenly becoming hot spots. It’s great to see confidence amongst landlords in the capital at a high, and even more reassuring to know that more than half think Brexit will have a positive influence on the property market,’ she added.
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