This is the questions everyone is asking:
- Which neighborhoods will see their prices rise significantly in the coming years?
- Which neighborhoods will change their faces and become London’s new trendy neighborhoods?
A well-known example immediately comes to mind: Notting Hill.
Notting Hill was, in the 1970s, a very popular neighborhood. It has gradually been adopted by celebrities and bankers to become today the chic reference of London.
With the demographic pressure, certain districts of London develop like Eldorados.
Indices to consider when buying in London
Real estate developers
Most often, real estate developers are at the origin of the rebirth of a neighborhood. After a long study of the neighborhood and the evolution of prices, the developers buy the old industrial and public buildings (hospitals, garages, warehouses). They convert them into modern lofts.
These projects improve the quality of housing in the neighborhood. These are excellent indicators of a rebirth of the area and a future rise in prices.
The proximity of a neighborhood already well quoted and transport connections to central London are also good criteria. London continues to invest in public transport. The construction of a “Crossrail” train line between Maidenhead and Canary Warf scheduled for launch in 2018 will open up parts of West London.
Big neighborhood renaissance projects
Large projects, with the creation of any part of a new neighborhood, are often a trigger for higher prices in the surrounding streets.
The most interesting example is the Nine Elms Industrial Zone next to Vauxhall. It will become a residential area and house the new US Embassy.
Finally, without peeling information about future residential projects, the easiest indicator to perceive is still the work of individuals, visible in the streets.
As you walk through the neighborhoods, identify the streets or houses and the buildings undergo major transformations. These streets are about to change their faces. New homeowners invest in their property and allow the street to grow in value.