How can I find a future property hotspot?
I recently attended an international property exhibition in Canary Wharf. Many of the keynote speakers, who ranged from property market analysts to senior figures from large house-builders, had one topic in common when it came to investing in the UK’s capital. This area of east London was mentioned time and time again.
Canning Town offers property investors a credible explanation as to why that particular area will outperform surrounding areas. It is experiencing a gentrification second to none and is set to become one of London’s most desirable addresses. One of the key drivers is the £3.7 billion that is being pumped into the area through a number of large regeneration projects. The Asian Business Port in Royal Docks and the new Crossrail station are just the tip of the iceberg as far as the E16 postcode is concerned.
New homes in Canning Town have been selling like the proverbial ‘hot cakes’ for some time now, in anticipation of what the future holds. Transportation links are already excellent and the price point for residential property is considerably lower than Canary Wharf that lies just four minutes west on the DLR.
What is happening in Canning Town today seems to have very direct comparisons to what was happening in Canary Wharf 25 years ago. The design and developed of Canary Wharf all those years back has acted as a tangible example of what can be achieved.
The E16 region is not just set to be a sprawling metropolis of high rise luxury apartments. The Canning Town and Royal Docks region is being robustly underpinned by the creation of vast amounts of employment. The Asian Business Port alone is due to add £6 billion of annual revenue to the UK economy. The creation of outstanding transport links through Crossrail and the already existing options of London City Airport, Tube, DLR and mainline bus station will make the area one of the most accessible places in London.
I think the principle of investing in any commodity has to be about anticipating the future. Look for key indicators that will stimulate growth in the future. Canning Town has an abundance of them.
Lourdes Estate Agents