Thanks to a pretty hefty hike in property prices around central London in recent years, developers have seen the potential in regeneration further out. And they’re not just putting up blocks of flats and leaving. There are projects underway to completely revitalize otherwise forgotten or less-than-desirable areas, transforming them into towns of their own with easy access to the rest of the city. Over at Royal Arsenal for example, an entire new village of homes, shops and bars has been built up over years, creating a renewed sense of community for those who live there.
That trend is happening all over London, meaning people who can’t afford to live in Soho or Marylebone can move to an equally lovely London borough at half the price of Zone 1 (maybe). Areas like Tooting, White Hall, Lewisham and Mill Hill are benefiting not just from an influx of 'Zone Oners’ escaping the smog but better high streets, cleaner and greener parkland and leisure facilities. Head East or South and your chances of finding somewhere by the water is getting greater by the day, too.
But it’s not only residents that get to enjoy these up and coming neighbourhoods. There are benefits for property investors and landlords as well. The rise of the urban Zone 2 professional means tenants are respectable and rents are stable. Plus the demand for fresh, hip new areas means you’ll probably be able to rent out apartments or houses in a flash.
So next time you’re looking for a property either to live or invest in around London, try not to be a Zone 1 snob and look further afield. There’s an entire expanding, easily accessible city moving slowly outwards, where you or your tenants can enjoy the best of both Londons.
Where's the best place outside Zone 1 to move to? A good start is to check out our London property guides. As well as Central London, we've got individual guides for dozens of areas across North London, South London, West London, and, you've guessed it, East London.
Next time you're thinking of moving or buying a new property, give Outlet a call to see if we can help you find the right place. Call us on 020 7287 4244.
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