London Properties

The diversity of London property means that it is a vibrant market that has a lot to offer. While the headline figures associated with the London property market focus on areas like Kensington and Chelsea or Westminster, with average property prices in excess of £1m, there are more affordable boroughs to consider.

Outer London is drawing more and more families away from the heart of the capital, and the affordability of homes is a key factor in why people are moving.

There is clearly a need for strong transport links to be in place to convince many people to uproot from the heart of London but the chance to sell an inner London property and move to the outskirts, buying a larger home while making a profit, is clearly something that appeals to many people.

There are always people waiting on the London property market to struggle or suffer a downturn. At the start of every year, there are predictions made about the London property bubble and how it is likely to burst this year. 2017 is no different and there are many gloomy predictions regarding the London property market but there is also enough to suggest that the market will continue to grow in price and demand.

The level of demand for property in London is huge

The demand for London property is such that many leading estate agents now offer assistance in finding garages, parking areas and sites in the English capital. There is a huge level of demand for all manner of property in London that even garages can provide a fantastic return on investment or provide an owner with a sizable profit.

With so many people looking for a regular parking spot in the capital, the long term investment in a parking spot makes sense, which is indicative of how varied the London property market is. In February 2016, a single garage space in Crescent Place in Chelsea sold for £360,000. This was twice the expected price at auction with professionals citing close proximity to South Kensington tube station and some of the most desirable streets in London as a reason for the high price.

A garage sold for more than half a million pounds in Chelsea

In 2014, a single garage, located just off King's Road in Chelsea, was sold for £550,000. The reason the price was so high for this property was down to the fact that planning permission had been granted for the garage. At the time of the sale, it was predicted that the garage would be torn down and replaced with a single storey home, with a basement space. The property was expected to contain two bedrooms (one with en-suite facilities), a living room, a kitchen/diner, a shower room, a toilet and a patio. Such is the high level of demand for housing in affluent areas of London; this was deemed by many experts to be a smart investment at the time.

The London property market stands apart from the rest of the UK market, and it is easy to see why. Even within the London boroughs, there is a high level of diversity and availability, with high levels of demand seeing properties being bought in short time scales. This is likely to remain the case for a considerable time to come. London Estate Agents and Property Letting specialists www.morganrandall.com can help and advise on all aspects of London Property.

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Canary Wharf Estate Agent Morgan Randall, offering properties for sale in Canary Wharf, London, Balham, Shoreditch and Islington.

London Estate Agent - Morgan Randall - London's favourite Estate Agents in Canary Wharf, Balham Estate Agent, Shoreditch Estate Agent and Islington Estate Agent. Properties for sale and rental including houses, flats, apartments for sale, 1, 2 3 and 4 bedroom properties.

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