As we approach the end of 2014, Simon Morris, the UK property advisor looks back on what’s been a busy year in residential property, particularly in the London area.
Over the past year I seem to have written more about investors going on London property buying sprees than ever before. A few of the blogposts proved popular, particularly this one about Chinese investors snapping up London property, both residential and commercial.
Chinese institutional investors had an estimated £1.35 billion worth of Chinese investment split between the commercial and residential sectors. London was second only to San Francisco and Chicago in the Chinese property investment stakes. Sydney and Madrid sit in fourth and fifth.
Rents in London
There was worry for the rising cost of rent in the capital earlier in the year and I wrote about London rents doubling the rest of the UK.
Tenants in London were looking at an average monthly rental cost of £1,412 compared to £694 for the rest of the UK (with London excluded). Some commentators believed that with these sorts of rental costs, London could be in danger of crossing a boundary where rents become unaffordable to many.
On the back of this, I also considered the facts and the figures when the news broke about London having one third of the UK property market value.
The focus on Fitzrovia
Earlier this month I picked up on and wrote a blogpost about another area of London that’s experiencing a mini-property boom. Fitzrovia hasn’t been associated with the property boom until very recently, and I enjoy learning about what the newly popular area had to offer the investor.
My Focus on Fitzrovia piece described how that area was changing, what if offered buyers and some of the returns already seen in the area. It’s always exciting when a new area finds a place on the London property investment map.
About Simon Morris
Simon Morris is an independent property advisor working with Funds and Investment Companies to ensure property chosen for funds and portfolios delivers agreed return based on low risk.
For more information on property investment vehicles please read the Guide to Property Investment Options.