London property trends are needless to say subject to intense speculation today – is the marketplace rising or down, and in case you rent or buy? Wherever you look, you’ll see the London and national media predicting the good, the bad and the ugly for the season ahead. Additionally you will see estate agents quietly getting Media Buying Houses in London up with business in the capital – certainly following what property in Borough or Barking does, although not getting overly enthusiastic with all the media hype. Listed here are a number of the London property trends from the cooler and calmer perspective which should hold for the coming year: space-saving interior design; greener living; and the security factor. This can just help you’re feeling a little less bewildered before heading down to the local estate agents.
London property is somewhat unpredictable, but you will find nonetheless some emerging trends that appear to create sense. London is one particular locations where space are at reasonably limited – it’s acknowledged as probably the most expensive location per square meter worldwide. As testament to the capitals enduring appeal, Londoners are just adapting to interior design. Concealed, wall and pull down beds maximise living area alongside clever space-saving wardrobes, and multifunctional furniture. However, new builds on any London Development Agency land is going to be at the very least 50 square meters for just one bed, as much as at the least 113 square meters for a four bed from April 2010. Interestingly, London’s mayor has reflected the London zeitgeist by insisting on a place for bicycles within those new rules.
A lot more Londoners are deciding on a greener lifestyle, often choosing to cycle not drive to work. They’re also exploiting the potential of apartment blocks with designer roof terraces. These add a proven value to London property that certainly justifies any initial outlay. They could assist in saving energy, and provide an urban getaway for city executives that enable wildlife to flourish. Additionally you will see private court yards on some better estate agents websites. Homes will also be increasingly being fitted with eco-friendly under floor heating and double glazing. Many are scoring higher on their Energy Performance Certificates than in previous years. Expect some regional variation – for example, new build property in Borough or Kensington might perhaps incorporate more green features compared to lower income boroughs such as Barking or Newham. In addition to energy efficiency, there’s one interesting localized trend emerging for anyone located in more central London.
Deposits for buying a home are standing at around 30% in the capital, and this actually makes for a particular win-win situation. The more expensive level of mortgage offset by this historically larger deposit ensures that for several buyers, monthly mortgage repayments are now actually much lower. Estate agents will tell you that for most in central London, getting on the housing ladder is not a problem. This especially pertains to the more famously sought after property in Borough, Bankside, Shoreditch, Hoxton, Primrose Hill, Camden, Soho and so on. Certainly there is robust movement within industry, that is going through rises and plateaus at a steady rate, unlike other property markets went through stop-start periods with stand-still crashes. So while you might think the premium pricing would be off-putting for many buyers, London property is probably seen as a much less risky investment