If you are considering whether to buy a property in London, there has never been a better time. As the most populous city in the UK, London is famous across the world for its lifestyle, opportunities and wealth. Here are our top 5 reasons why you should buy a property in London now.
A great investment
Purchasing a property in London, whether you plan to live there or let it to tenants, will always be a great investment. According to the ONS House Price Index, historically the average property prices in London double every ten years. If you are in a position to buy now, there is a high potential resale or redevelopment value further down the line.
Low interest rates
At the moment interest rates are at an all-time low, so taking out a mortgage now will mean you can pay it off much faster. There is also a high possibility that your monthly mortgage payment will be lower than the high rental prices commanded in London.
The cultural and business capital of the world
London is considered by many people to be the cultural and business capital of the world. It is currently ranked 6th in the list of the world’s richest cities and contains the 3rd highest percentage of billionaires in the world. The city continues to attract people from across the UK and the rest of the world, who enjoy the fast pace of life and numerous opportunities.
If you are looking for a location which will provide quick access to international airports and short daily commuting times, London is ideal. London is home to the famous tube network and five international airports, not to mention the future Crossrail and High Speed Rail 2.
A stable economy
As many countries across the world are thrown into political and economic turmoil, London is seen by many people to be a safe haven. The city is benefiting from inflows of investment from China, Russia and the Middle East. This is providing a boost to London’s economy and is an encouraging sign for those who are looking for a safe investment.
At Blackmore Homes, we are proud to be able to offer property for sale in London. Our properties are located across the capital and provide an ideal opportunity to invest in one of the fastest growing cities in the world. To find out more, please contact us.