The future of London’s house prices has been charted in data supplied by Property consultants JLL. According to this data, the average cost of a home in a third of the capital’s boroughs will reach £1million by 2032.
Despite the uncertainty caused by Brexit, house prices in London are predicted to rise, especially for properties which lie in areas where regeneration and redevelopment is taking place, or where plans are set to go ahead.
The residential markets in areas like Wimbledon have outperformed some prime central London areas. As prices have increased in central London areas, the ‘ripple effect’ has brought buyers out from more central areas into the suburbs where there is more relative value.
The data takes in the impact of Cross rail being complete, and the new runway at Heath row Airport potentially being finished. Improved transport links always help to attract buyers and tenants to an area, from investors to city professionals in search of somewhere to live which connects them to other parts of the city.
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