With the end of 2021 quickly approaching, a lot of people are looking at how the property market has been performing. The last twenty years have been very interesting, including periods of rapid growth, huge dips, and big changes in popularity. As one of the leading providers of estate management Waltham Forest has, we want to take a closer look at what has been happening.

The UK’s biggest growth areas

New data from Household Quotes that uses figures from the ONS shows which areas in the UK have had the best performance since 2002. Surprisingly, the biggest growth in terms of percentage was Waltham Forest with a huge 232% increase in values. In monetary terms that is growth from an average of £140,000 in 2002 to £465,000 by 2020. This year the prices are up even more, reaching an average of £524,647 according to RightMove.

The growth puts the north east London borough ahead of many big name areas. This includes Kensington and Chelsea (223%) and Westminster. The second most successful area since 2002 is Hackney with an increase of 227%. The City of London was third with 225%.

Looking back, in the late 90s and early 00s, £140,000 would have usually been enough to buy an entire property in Waltham Forest. Today it would be a great deposit worth around 25-30% of a property.

Why has Waltham Forest been so successful?

Interestingly, the growth in the area was not always consistent. By 2010 the average price had only risen to £225,000. This is still a great rise, but it was not leading the UK.

The catalyst for much of the rise since then was the Olympics. The Borough was one of the host Boroughs and became home to part of the Olympic Park. As a result, there was a huge amount of investment in regenerating parts of the area. There was also significant investment from people who now wanted to live in this part of London. Amazingly, from 2012 to 2015, house prices were up by almost £120,000.

The popularity of Waltham Forest has only continued to grow since then. It has become one of the hotspots in London more recently too because of COVID. More people have chosen to move from Central Boroughs to this part of London where they can enjoy more open space and larger homes with gardens.

Ask us about estate management in Waltham Forest

Finefair Ltd has seen the increase in popularity of different parts of London over the last two decades. We have been on hand to help investors to manage properties all over the city. Our services are great here because we can offer the same standards in all areas, even with tricky portfolios.

So, if you have properties in the city and want to find a partner who can work with you, please think about us. We offer estate management Waltham Forest investors can rely on and extend the service to all other areas in the city. This can offer convenience and extra value. We can also guarantee rent on properties. Get in touch today to learn more.