Did East London Dominate Home Sales In 2017?

The changing nature of the East End of London would lead many people to believe that this part of London was thriving. With many parts of the West of the capital being classed as overpriced, with the market faltering, it stands to reason that the East is the area that is on the rise, and this feeling has been corroborated by research undertaken by Dexters and Stirling Ackroyd New Homes. The study shows that when it comes to sales of new property in London, postcodes from the eastern end lead the way.

With respect to residential properties sold in Greater London for 2017, 44% of properties were found in the East and the North East central section of London. These are the postcode areas which begin with E, EC, SE or N. If you look at the E postcode in isolation, you will find an area that accounted for 22% of new property sales in 2017. This fact by itself is probably worthy of further investigation, highlighting the popularity of this area and the availability of property for prospective buyers. In the North and East Central area of London, there were 9,700 sales of new homes while in the rest of London, there were 12,300 sales, accounting for 22,000 sales in total.

There are many reasons why East London is the place to be in 2018

While some people will point to overvalued property in the west of the city as a reason for the increase in interest in the east, this would be to sell the area short. Yes, there has been a legacy from the 2012 Olympic Games, but the most important legacy comes in the fact that the opportunity has been seized. Improved transport options, new commercial outlets, new business destinations and ultimately, new residential options have all helped to make the East End of London a desirable location. The proportion of sales for 2017 show that this is an area that people want to live in and it is an area where things are changing and developing.

Affordability and convenience are key factors for prospective buyers

This by itself creates the reason why areas like Bow, Stretford, Bethnal Green, Hackney, Wanstead, Canary Wharf and many more destinations are on the rise in the present day. Affordability, convenience and a pleasurable way of life combine to create an area that is in high demand, and this is what is helping to drive the modern development of this area of London.

If you are keen to capitalise on the eastern movement in London or you would more guidance and support from a local estate agent, be sure to contact Unico Property Group. We are pleased to say that we have helped many people and households to find their ideal property in the East of London. Wherever you want to take your next move in this part of London, we are the company to help and we look forward to assisting you.