The Olympic Games in London in 2012 saw a huge amount of investment across the capital. This included improvements in infrastructure, regeneration work, creation of new jobs, and investments in building new homes. Four years on and the impact of the event on the six host Boroughs has been very impressive. The lasting legacy is one of rising house prices in the areas.
A recent report by Property Partner looked closer at this. It found that prices in the Boroughs of Greenwich, Hackney, Waltham Forest, Newham, Barking and Dagenham, and Tower Hamlets have seen a higher average rise than the rest of London. This is really good news for the home owners in the area as well as investors trying to decide where to invest.
Of these areas Greenwich really stands out. It is in an incredible location, offering good access to Canary Wharf, the City and London City Airport. On top of this there are many fantastic green spaces in the Borough, adding greenery and making the area feel more peaceful.
Even with the impressive growth in Greenwich (property prices have gained 57.5% since the end Olympics in 2012) it remains an affordable area in many respects. In the list of top ten growing areas in that period it comes tenth highest but fourth in terms of affordability with an average price of £379,746 in May 2016. The only areas on the list with a lower average are Barking and Dagenham, Newham and Croydon.
At Finefair we are committed to helping people to find the right properties in Greenwich. As part of this we support them in their search, offer tips and advice, and are on hand to assist with everything from putting in offers to signing a deal.
We work with numerous investors, including those looking to purchase properties to be let out after quick improvements. As established lettings agents we can provide all of the relevant services to get the property on the market, find tenants and generate a good income.