The number of people wanting to acquire a home in London area is escalating. As of March 2016, reports show that numbers of registrations have risen to almost three times more than on last January.
The property market is showing its strength in spite of the impending rise in Stamp Duty charges for buy-to-let (BTL) landlords and second home owners, as well as the ongoing uncertainty about the effect this will eventually have.
Also, for anyone who fears a slowdown in the market as April approaches, they can finally breathe a sigh of relief.
Last winter, a rush of BTL landlords obtaining properties before the start of high Stamp Duty charges was significantly observed, while those looking for a house of their own have been patiently waiting on the sidelines.
With the outpouring of activity to beat the Stamp Duty modifications slowing down; a solidly healthy demand from prospective home owners is now finally taking place, together with first time buyers who are making the most of government schemes such as the Help to Buy scheme.
Generally, London still delights in high interest when it comes to home purchases. East London, in particular, is gradually becoming the destination of choice for a lot of first-time property buyers.
With that being said, some areas across East London have gained significant popularity amongst young families, young professionals and first-time buyers alike. These specific areas offer some of London’s most reasonable prices, with fast and accessible commutes into the City, as well as in the West End and Canary Wharf.
All in all, areas with great transportation links with growing bars, restaurants, and cafés are noticing great increase of home buyers. After all, most buyers search for the next property hotspot and perceive them as good investment prospects.