Despite the chancellor announcing headline-grabbing measures to cool property price rises by taxing overseas investors in reality this is unlikely to affect the market significantly, because over 70% of the market are resident owners.
The Government target is to build 200,000 new homes to meet growing housing needs, but supply could struggle to keep pace with the market demand in which case prices will continue to rise accordingly.
At Riley Marshall we have been keeping our ear to the ground to bring you news of the latest happenings in our area.
Crossrail opens up the East and South East
Crossrail will bring high speed links from Abbywood and Woolwich via the Royal Docks and Canary Wharf before heading on into central London.
This will significantly reduce traveling times to and from these areas and is likely to bring investment into these more outlying areas that would previously have been seen as being too far to commute.
The Northern Line Extending to Meet Battersea Development
Battersea Power Station is part of a £4 billion forty-two acre site which will bring some 16,000 new homes.
This area, south of the River Thames will include the new American Embassy and the development will feature amenities such as schools, shopping, restaurants and parks as well as housing.
Transport For London plans to build an extension to the existing Northern Line to include Nine Elms and Battersea.
Croydon Expects Westfield Development
Westfield, the highly popular shopping mall developers are planning to build in Croydon at an estimated cost of £1 billion.
Westfield in Stratford has been a tremendously successful venture, bringing crowds to shop, eat and visit the cinema.
It is likely to prove equally popular if Westfield get permission to develop in Croydon, and will bring a much needed boost to this area which could see price rise as demand increases.
More Olympic Village Property Released
Stratford continues to be a burgeoning market, enjoying the increase in popularity since the Olympics put Stratford so firmly on the map.
More new houses are being released on the previous athlete’s village site during 2014, and the plan is for the site to realise some 10,000 new homes in five new neighbourhoods each of which will have new schools health facilities and shops.
The site will be landscaped to include open spaces, parks and waterways to make the area a popular destination for homeowners, tenants and investors.
Our opinion is that the property prices in our area will continue to rise over the next year, if the first quarter is anything to go by, so please get in touch with us if you are planning to move and we can discuss your options 0207 394 1160.