Despite predictions that the housing market would slump after the Brexit vote, it continues to do well, even in the already stretched London market. But whilst London property values continue to rise, the rate at which they are rising is slowing down, so if you are thinking of buying a house in the north of the capital, it’d be a good idea to do a bit of research into the future of the area which could affect its resale value.
The number one advice that Mark Lawrinson, Regional Director of Portico London estate agents would give is to keep an eye on the big infrastructure projects in the London area. For instance, in the longer term, Crossrail will bring more prosperity to areas of north-east and west London which, to date, have not been served well. In other areas, look out for other developments such as road improvements, business or industrial parks and large housing projects and assess how they might affect the housing market.
If you have children, how well the schools are doing is obviously going to play a huge part in where you choose to live. But even if you don’t have children, it’s worth doing your research – if you’re not planning on staying in that property for long, the quality of the nearest schools will have a direct effect on its value, whether you sell or let it out. Search for the Ofsted inspection reports on the gov.uk website.
Taking a walk along the main shopping street will give you a good indication of what’s happening in the area. A well kept road with lots of prosperous looking shops and cafés shows the area is doing well. If not, it will be worth doing a bit of investigating – maybe the local council is about to put money and effort into its regeneration; or it could be in an area that people are beginning to move in to as prices nearer the centre of London are getting too high – if that is the case, then the high street will be one of the first things to benefit and your property value will definitely rise.
Ultimately, if you’re buying a property to live in, it is your home regardless of what happens with Brexit. And if you are moving home, you need a reliable removal company based in North London who can make the process as straightforward and stress free as possible. If you want to put your belongings in safe hands during your move, click here to get a home removals quote.
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