Private landlords have been heading to East London to pick up properties cheaper than the rest of London and have seen them grow massively in value and appeal over the last few years. As a private landlord in East London you may believe or feel it is now the time to look into selling your current properties for a variety of reasons.
The term East London typically refers to the area north of the River Thames and to the East of Central London and made up with boroughs such as Barking and Dagenham, Tower Hamlets, Redbridge, Waltham Forest, Hackney, Havering Romford and Newham which roughly contains a population of 1.5 million. East London includes important places which are vital to the economy such as Canary Wharf, London City Airport, the ExCel Exhibition Centre and several universities which means it appeals to both the professionals and students. Due to this the area attracts property investors looking to buy to let property in East London for these particular potential residents of the area.
East London was marked as an upcoming area for investment opportunities when the development for the London 2012 Olympics started as well as the many areas within London that were marked in the London Plan as such that would undergo development and regeneration in order to improve the economy and social conditions for those living in these areas before the expected end date of the plan in 2031. As well as new property developments and businesses entering the East London area there will also be a significant improvement in the public transport infrastructure making it easy to reach central London. As a result there are lots of opportunities available for private landlords in East London whether you are looking to buy or sell properties in the area and as a result property prices in some areas of East London are rising quicker than other areas of London.
Sell your Home in East London Through us
Compared to the rest of the United Kingdom property market East London has been found to be the one that has bucked the trend in regards to average property prices. Whilst other areas seen significant drops in property prices, especially post 2008 or a stagnating market with no rises or falls in the value of property East London was one of the only three areas from England and Wales which had recorded an increase the average property values since 2005. Currently this increase has been recorded to be approximately 7%, equating to £20000 across the whole East London private landlord property market.
For those that have managed their property investment in an effective manner you might find now it is time to sell a property, taking the capital appreciation which you have gained and then invest it into a larger or multiple properties in East London. This process is known as moving up the property ladder and is seen to be an achievement for private landlords across London.
The huge area covered in East London generally means there is no specific property type which is most prevalent so it is almost impossible to not be able to find exactly what you need specifications wise. Detached executive houses in gated communities, luxury apartment blocks, terraced family homes and smaller one bedroom apartments in converted buildings ideal for the first time buyer are all available. The large range does mean a massive variation in the average property values that need to be considered by private landlords in East London. For example, the whole overall average for the area with all property types included is £359,000 which is significantly higher than the average property price for London as a whole even though London is often considered one of the most affordable areas of the city. When you look closer into the build up of the East London property market you can see why it attracts so many private landlords and just why the average property value is higher than what is seen over the whole of London.
Private Landlords East London
The most popular property types across East London are the three bedroom homes with an average value of £294,000 and the two bedroom flats and apartments which have an average value of £226000 which as you can see are vaguely around the average London property value of £288,000.
On the lower end of the scale there is a significant number of one bedroom flats and apartments and these are generally valued around £169,000 so one of the more affordable options for first time buyers looking for their first home or private landlords in East London looking for buy to let opportunities.
The factor which drastically increases the average property value in the whole of East London is the high number of four to five or more bedroom properties. These are both flats and houses; typically penthouses or luxury homes and these vary in averages from £483000 up to £800,000.
Private Landlords East London, Selling your home for you quickly
As East London covers such a huge area and number of properties, i.e. there are generally over 10,000 properties for sale in East London which does mean buyers have a lot to choose from with so many properties to fit specifications or a budget all competing for attention from the pool of buyers. As a result it is important that as a private landlord in East London that you do everything you can in order to market your property to this pool of buyers in order to get a sale as quickly as possible and in the most cost effective manner. The internet combined with Private Landlords London can assist you in these important steps, creating a private property listing for your property for sale in East London and then get this in front of the correct buyers, those who are looking for a property of your specifications and those who have the budget and the ability to act fast on their purchase. Properties owned by private landlords in East London can be sold in less than six weeks through us and time is always an important factor, especially for those who need to free up capital in a property to move onto their next investment plans.