Best Places To Buy Property In London

Best Places To Buy Property In London – Buying property in the right areas is key for homeowners, so where can you enjoy attractive returns in 2022 in the UK?

Read on to find out which are the top cities attracting property investors, the most popular locations for HMOs and where new landlords are buying properties.

Best Places To Buy Property In London

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Bristol has topped Aldermore Bank’s buy-to-let city rankings, which ranks the UK’s best buy-to-let areas. The south-west city rises from seventh in last year’s ranking, overtaking Manchester, which fell to fourth.

We looked at which areas had the most homeowners who owned less than a year and purchased homeowners insurance in 2021.

London came first, followed by Birmingham, Manchester, Liverpool and Glasgow. Interestingly, the top five buy-to-let areas for new owners are all major UK cities, where tenant demand is likely to be high and property price growth is likely to be robust.

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All these areas have well-known universities. Student rentals are often popular with new landlords due to lower purchase costs, annual demand and the potential for high rental returns.

Houses in Multiple Occupancy (HMO) are larger properties that can be let to three or more people from more than one family who share living facilities.

For example, a household share of five young professionals would be considered a ‘large HMO’. Read our guide to HMOs for more details.

To successfully rent an HMO you need to operate cheaply – a location with lots of students or young professionals can be an ideal location.

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If you’re looking to buy and rent a larger property, here are the top five places where most HMO home owners bought insurance in 2021:

Unsurprisingly, all these cities have plenty of universities and strong job markets, making them popular with young professionals – and so appealing to HMO landlords.

The type of property you rent is likely to have an impact on the future tenants you attract.

For example, houses may be more popular with families, while apartments may appeal to young professionals and bungalows may be more suitable for older renters.

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We took a closer look at where most homeowners set their insurance policies for different types of property in 2021.

The main hotspot for detached homes was Nottingham, while London was most popular for terraced and semi-detached homes. Birmingham was also popular with homeowners, appearing in the top five for all home types.

The top UK region for housing was London, followed by the Scottish cities of Glasgow, Edinburgh and Aberdeen, with Manchester in the top five.

As in 2021, Aldermore data suggests that locations in Wales are less attractive to landlords. Swansea and Newport take the last two places in the top 50, while Cardiff come in 36th.

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Falling rental prices and the high supply of rental properties in Wales are increasing competition between landlords, says Aldermore, making areas less attractive as investment locations.

However, property owners looking to buy property in Wales can get a long-term return on their investment by targeting Swansea thanks to the 3% increase in house prices.

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We create this content for general informational purposes and should not be considered advice. Always take professional advice. Read our full disclaimer

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And although the uncertainty caused by the UK’s Brexit negotiations has seen growth stagnate and even reverse in some boroughs, London’s first-time buyers still need big bucks.

The Best Places To Buy In London For First Time Buyers

But there are some great postcodes within reach of the average first-time user, and we’ve highlighted five of them here, including why we think they’re so great.

A typical first-time buyer in the capital needs to save for 17 years to provide enough money for a deposit, according to a study last year.

But there are still great opportunities for potential new owners, and with prices falling after so many years of growth, the door is open for many to buy their first home. But you’ll need to choose your region carefully and keep an eye on your budget.

London is full of great neighborhoods to live in, but first-time buyers need to do more than worry about how far the pub is or where they can get a good latte in the morning.

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Beginners should consider affordability and growth potential. After all, growth is what could enable them to take the next step up the London property ladder.

Award-winning young designers from Hackney fashion have flocked to South Tottenham in recent years, meaning it’s a very up-and-coming area.

Rows of Victorian terraces dominate, ideal for first-time buyers with children or looking to raise a family.

Transport links: Seven Sisters and Tottenham Hale are both on the Victoria Tube line, meaning quick arrivals to the West End.

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Must visit: Without a doubt, Tottenham Green Market. Just five minutes from Seven Sisters station, this market is a kaleidoscope of colour, street food and stalls every Sunday.

If you are looking for a solid 1920s or 1930s house a short drive from central London, Greenford in West London could be the answer for you as a first time buyer.

With semi-detached family homes available for less than £500,000 on average, Greenford is a real option for many first-time buyers in London.

Places to visit: For some peace and quiet amidst the hustle and bustle of London, take a stroll up Horsenden Hill.

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A superb walk through the Perivale Forest is followed by a summit with wonderful views over Greenford and its neighbours.

Harrow can sometimes seem a million miles from London. But in fact, it’s only 15 minutes by train.

On the property side, North Harrow’s wide streets of 1920s and 1930s houses have wide appeal and with prices currently in the £500,000-£700,000 range for semi-detached properties, it’s still a potentially affordable area for first-timers.

Transport links: Trains to Marylebone from Harrow on Hill take just 15 minutes, while North Harrow, West Harrow and Rayners Lane are also on the Metropolitan line. South Harrow and Sudbury Hill are on the Piccadilly line.

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Must-see: For a taste of quaint country life, head to Harrow on the Hill and grab a spot for breakfast at Dolls House on the Hill.

The booming housing market is reflected in this new popularity, but there is still plenty of value for first-time buyers looking for their first apartment or condo.

Victorian conversions abound, while there are also a number of new build options as Leyton continues to enjoy a period of regeneration sparked by the 2012 Olympics in nearby Stratford.

With flat sale prices below £350,000 on average, this is one area of ​​London that first-time buyers simply cannot ignore.

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Transport links: Leyton tube station is on the Central line and has trains to Oxford Circus which take just 21 minutes.

What to visit: Stroll along the High Road and grab a pint and some food in one of Leyton’s excellent pubs. The best of the bunch is Leyton Technical, which is located in the Old Town Hall!

The crown jewel of the East End, Bethnal Green has become hugely popular with tech types looking for value property outside of central London.

Like its East End neighbor Leyton, its stock of Victorian houses and conversions is where most first-time buyers should focus their attention.

Best Places To Live In London 2022

Transport links: Bethnal Green tube station is on the Central line, with Whitechapel on the District and Hammersmith & City lines.

What to visit: Bethnal Green is famous for York Hall, the area’s famous boxing venue, and a visit here for a night of top boxing is an assault on the senses not to be missed.

If you’re looking for a new home in London, check out our list of available properties or contact your local office.

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