With September looming, Chesterton’s have recently released their issue of the Residential Observer for August and we’ve cherry-picked the figures you need to know that make property investment look like a sound investment in capital.
If we look up to the skyline of London, a majority of them are owned by foreign investors; The Shard is owned by the Qatari Diar Real Estate Investment Company, The Gherkin is owned by the Safra Group, which in turn is controlled by Brazilian billionaire Joseph Safra and Hong Kong’s Lee Kum Kee Group recently purchased the ‘Walkie Talkie’ building. The point of these examples is that they demonstrate one of the key highlights of the report, which showed that Buy-to-let mortgage enquiries from UK Expats rose by 130% in the first seven months of 2017 compared to the first seven months in 2016. These queries largely came from expats in the United Arab Emirates, with a high percentage also coming from the US, Hong Kong, Singapore and Switzerland. Hardly surprising considering who owns the Skyline.
For those investors thinking that the Capitals more premium boroughs, such as Chelsea, Tower Hamlets, Westminister etc may be out of their price range, think again.
In July 2017, central boroughs such as Hammersmith & Fulham and Kensington & Chelsea have seen big falls in asking prices; -4.6% and -3.5% respectively and asking prices in Greater London have grown by a mere 0.9% from the start of the year to July 2017. If that stirs your interest and you’re thinking of dipping your toes into investing, it’s worth noting that the report brought to light that the areas in and around the Olympic Stadium ‘increased by 64% between September 2012 and April 2017.’ and Walthamstow had seen an astonishing 101% growth. In fact, these areas ‘outperformed London (38%) as a whole over the period.’ If you’re interested in property investment, be sure to check out our beginner’s guide to get clued up.