Still a great place to invest
London is the administrative, economic, political and legal centre of the UK, a leading global city with a population over 8.3 million.
London’s economic importance is founded upon its rich history and is palpable in the hustle and bustle at the Canary Wharf financial hub and London Stock Exchange. Many consider London to sit alongside New York City as the financial centre of the world.
A patchwork of 32 boroughs make up London’s vast urban sprawl; areas such as Southwark, Hackney, Islington and Camden are all places familiar to most which come with their own reputation. Understandably, house prices vary across the boroughs, but they are mostly driven by proximity to London’s centre, with Kensington and the City of Westminster being the most expensive areas.
The capital’s residential property sector offers investors great potential due to an inherent shortage in supply of new homes and an increasing demand for high-quality rental accommodation. The supply versus demand imbalance has rapidly widened, which, when coupled with the historical safety of the London market, makes now a great time to invest should the opportunity (and the right deal) become available.