The buy-to-let property market in London is ever-changing, with new opportunities emerge all over the city for landlords with big goals.
We’re coming up on the month of new momentum, where landlords look over their portfolios and make use of the many exciting new opportunities to invest in London that come right at the beginning of the year. So you’re prepared to hit the new year running, here are some areas of interest right now:
Where to invest in London
Bollo Lane, Acton
Following up one good thing with another, there are big regeneration plans in play on Bollo Lane, just behind the beautiful home of some of the world’s leading companies, Chiswick Business Park.
Bollo Lane is both well-connected to the Piccadilly Line and a short walk to the wonderful amenities of Chiswick High Road. It makes perfect sense to transform an area that’s already got the incoming workforce and excellent transport links, and there are some big names in residential development behind the push.
Countryside is taking charge of regenerating South Acton estate, with a number of phases yet to be built leading into 2027, so there’s a lot of off-plan opportunity. Bookbinder Point’s 14 storey building on Roslin Road and the forthcoming 700 new homes on the former TFL site will be spearheaded by a major London developer.
Pimlico
Pimlico is a bit more under the radar compared to its more famous neighbours, which provides an opportunity you can leverage. The SW1 postcode is always good value for money, great connectivity and transport, good yields and an audience of experienced renters, who are looking for the benefits of life in central London and can appreciate a good let.
Browse property for sale in Pimlico.
Chelsea
If you're planning to provide a luxury let, look in Chelsea.
“Chelsea’s buy to let landscape has refocussed since 2016, due to changes in property taxation and shifting demand from an international audience to a national audience,” Thomas Brooks, head of Foxtons Private Office says, “One can get a workable yield now, if they have the right deposit.”
Thomas also mentions the redevelopment of the Kings Road, Sloane Street and Sloane Square, “which will only add to the area’s lustre.” Sloane Square is on a journey of redevelopment to enhance its reputation as one of London’s brightest destinations for luxury retail, the home for high end.
Browse property for sale in Chelsea.
Photograph: Kings Cross St Pancras by Foxtons Specialist Photography
King's Cross
King's Cross is the government’s shining example of a regeneration done well.
There has been major redevelopment of property and infrastructure around King's Cross. An influx of global tech headquarters including META and Google (HQ to be completed in 2024), had its part to play, as did the creation of Coal Drops Yard, the magnificent new shopping, entertainment and dining scene.
According to research into ONS statistics around employment, King's Cross has a unique array of job opportunities to the rest of wider central London, with a “higher share of jobs in the arts, public administration, education, and information and communications.” This incoming audience will likely be looking for new properties to rent alongside their new Kings Cross careers, so it’s an interesting opportunity for buy to let portfolios.
Wembley
The regeneration of Wembley is touted as one of the largest regeneration projects in the country, and it’s at the stage now where hard work is paying off. The area is blossoming, attracting growing demand from London’s renters.
Wembley Park is now known for more than the arena; new businesses abound, providing a plethora of job opportunities and fun things to see and do locally. Sleek modern developments have successfully replaced tired old tower blocks with homes renters are excited to live in. The excellent transportation has a chance to show off, bringing more commuters flocking.
Browse property for sale in Wembley.
Hackney
Through it all, Hackney keeps its appeal as an urban trendsetter, home to a loyal and remarkably creative community. Despite that, today’s Hackney is very different from what it was 10 or 15 years ago.
There is more green space, excellent schools and the grittiness that once gave Hackney an edge has been softened.
Tech City is the name for the growing number of tech companies congregating around Old Street Roundabout, bringing renters with highly specialised jobs into the area.
Browse property for sale in Hackney.
Photograph: Elephant and Castle by MattFromLondon | CC BY | Flickr
Elephant & Castle
More than £4bn is being invested through 26 correlating projects in Elephant & Castle, with a new town centre, new homes, new public amenities and improved transport set to transform the space. There will be a new major park, three public squares, a series of pocket parks and green spaces alongside walking routes through the neighbourhood.
The new town centre will include a campus for UAL’s London College of Communication, adding to the Elephant’s already excellent appeal to student renters and to landlords providing student lets.
Get moving in 2024
Buy-to-let property can be an especially rewarding investment in London, but it is important to consider:
• House prices: London property is very valuable, so it is important to have a strong financial plan. Get in touch with the Buy to Let specialists at our partner mortgage firm, Alexander Hall, for more information.
• Rental yields: This is a hot topic in London property, and an important one to approach with a sound strategy. You can check our yield calculator for a ballpark figure, or book a free valuation to make a plan.
• Renter demand: Demand remains high across the Capital, but there are also pockets of opportunity cropping up in local markets throughout the year. Keep informed with our monthly Lettings Market Reports.
• Property type: There are property types that perform better with each target audience and every local market, and infrastructure changes like new transport links can provide brand new opportunities. Our offices keep up to date on what performs in each area, we’d be happy to help you find the right property type for your goals.
• Property management: As policy adapts and tenants’ needs grow, landlords’ responsibilities become more complex. The industry-leading expertise and technology behind Foxtons Property Management ensures your London let is successful, no matter what the market brings.
If you need up-to-date market data and analysis, off-plan investment opportunities, lettings legislation information, portfolio recommendations or anything else, get in touch. Our lettings departments have an incredible range of skills and expertise. We can help you can secure a valuable property that provides a steady stream of income.
