The whole English nation is obsessed with real estate – and they are right. Whether you are looking for a period mansion straight out of Downton Abbey or a modern loft style apartment in one of the country’s vibrant cities, you are sure to find the property that suits your lifestyle in England.
The value of real estate in England
Prices vary enormously from one region to another and you will certainly hear a lot about the north/south division. Real estate in the north is much cheaper than in the south. You must make sure that your budget corresponds to where you want to live. Don’t be surprised if you see that property prices in London and the South East are almost double those in the rest of England. And in some parts of the capital, you can at least double that number again.
Historically, the price of English properties has doubled approximately every seven years. Given the current economic climate, you might think this pattern is unlikely, but there is no reason why the level of capital growth should not return.
Don’t get carried away, however, as everywhere else in the world, buying a house in England is not a safe bet. Even if there is a shortage of new homes, which in theory means that real estate prices will rise further, there is no guarantee.
Popular locations to purchase
The most popular place to buy a property in England is of course London. Often considered one of the most exciting cities in the world, this vibrant capital has much to offer visitors and residents: from shopping to restaurants, theatres and museums. And with a diverse public transport system, it is easy and simple to get around. And when the sun comes out, there are many beautiful parks to walk in. Some of them are larger than you would think for such a densely populated area.
London attracts a lot of people who invest in stone. The market for people buying to rent is expanding rapidly due to the number of people who cannot buy goods and the influx of workers from the EU. In recent years, East London has become THE popular area for owners/residents and investors. Stratford, home to the Olympic Park and a new Eurostar station, is obviously popular and areas like Bow and Hackney benefit from this proximity and links to the City.
South London, traditionally cheaper than its northern rival, is gaining in popularity while premium locations such as Kensington and Chelsea are real magnets for rich foreign buyers and City employees with impressive bonuses. The neighbourhoods to watch are Elephant and Castle, Peckham, Shoreditch, Hoxton and Woolwich.