We all know that London is growing, the population of the city is growing, new houses are being built, areas are being regenerated. New data suggests that buying a property close to a regeneration site could be the key to successful property investment.
The research shows that homes located close to regeneration projects achieve on average 3.6% higher price growth year on year.
The study focused on 11 regeneration projects across the capital, and homes within a 750 metre radius achieved increased value compared to equivalent properties in the local area. The study did not include housing built within the regeneration areas, which normally attract higher prices than existing housing.
House prices also had a 1.5% higher annual gain from the start to end of these projects, compared to the local authority average.
Regeneration of an area can lead to improved green spaces and parks, public areas, retail, office and leisure services as well as all important transport links.
When looking at the redevelopment of Stratford, nearby housing prices increased 5% more than the local average. Woolwich and Royal Arsenal Riverside had outstanding house price growth of 7.6% more than the average.
Transport improvements played a key role in these projects, with Woolwich benefiting from new stations supporting Crossrail and the Elizabeth Line, bringing the City within 14 minutes of travel time.
The data also rang true for regeneration outside of London, in Manchester, Liverpool and Birmingham and further investment in the Northern Powerhouse initiative.
All this is good news for homeowners looking to sell in these areas, with investors keen to reap the benefits.