At Finefair Ltd we monitor the market in London to help investors find the best opportunities. One thing we do is look to see which locations become hotspots. Last year was a particularly busy one with estate agents seeing record enquiries and rapid sales. With that in mind, it is a good time to check which spots could be excellent for 2022. If you are thinking about the investment properties Lambeth has in particular, you will be happy with what you see below.
Overall sales
According to the data, the total number of transactions for residential properties (Sep 2020 to Aug 2021) was an impressive 94,483. The housing stock for the whole city is over 2.8 million homes. So, that means 3.3% of the entire stock changed hands in those twelve months.
While that is a really incredible number of sales, some areas saw a higher percentage of their homes change hands. In fact, 16 locations all had over 3.3%.
Top areas
The headline grabbing area here is Havering. There were 4,150 transactions here. With a total housing stock of 88,998, that means 4.7% of the homes were sold in the period. This makes the Eastern Borough one of the hottest locations in the city.
Bromley was the second biggest hotspot in terms of sales percentage. Impressively there were more total transactions here, 5,435. However, the borough has a bigger housing stock with 121,196 private sector dwellings. This translates to 4.5% of the total homes being sold.
The third best area was Wandsworth. Once again there were more overall sales than Havering with 5,255. Similarly though, the borough has more dwellings (121,091). The sales were 4.3% of the stock.
The top five is finished off by Richmond upon Thames (3,224 sales from 93,941 stock or 4.2%) and Lambeth (3,849 sales from 93.941 stock or 4.1%).
What do they have in common?
Surprisingly all of these five areas have one major thing in common; they are all not traditional prime Central Boroughs. In fact, while they had lots of transactions, traditionally popular locations like the City, Westminster, and Kensington and Chelsea were lagging behind.
Another surprise is that many of the hottest areas were south of the River Thames. This is quite a big change because locations to the north were traditionally the most popular. What it shows is that there has been a big change in behaviour. Past things that would put people off, including transport links, were no longer a deterrent.
A strong year ahead
The huge demand could very well continue into 2022. However, many experts are predicting that traditionally popular areas will bounce back too. It could mean it is a very exciting time to look at investing in London.
Ask us about investment properties in Lambeth
Finefair Ltd is a team with a huge amount of experience. You can benefit here by asking for advice about investing in different types of property, including houses, flats, luxury apartments, blocks, and more. We can guide you to ensure you can make the best decisions. Then, we can offer things like guaranteed rent and management solutions.
So, if you are thinking about the investment properties Lambeth offers, or target other parts of the city, choose to work with us. We are the most dynamic property partner.
