First Time Buyers Property Index
BETHNAL GREEN and Stratford have come first and second in a poll of the capital's most promising hotspots for first-time buyers. (Newham Recorder)
RBS FTB Property Index
Exploring areas that may not already be regarded as first-time buyer territory may seem like a leap of faith, but can often lead to the greatest potential for return. The Index once again highlights the need to look to future plans for regeneration and developments of new homes when selecting an area. Not only does this increase affordability in the short-term, but also provides the promise of improved amenities, an influx of new residents and potential for house price growth in the longer term. A famous example of this is the Docklands area of London, which underwent major regeneration during the 1980s, transforming it from industrial wasteland to desirable homes for thousands of city professionals.
Royal Bank of Scotland First Time Buyers Property Index, 13 September 2006, Pioneering First-Time Buyers
More at; RBS First Time Buyers survey
BETHNAL GREEN and Stratford have come first and second in a poll of the capital's most promising hotspots for first-time buyers. The survey, carried out by the Royal Bank of Scotland, lists the ten areas likely to make the best investment for people trying to get on the property ladder within the next twelve months. Isle of Dogs/Limehouse (E14) was fifth in the table. The survey, which ranked postcodes according to desirability and potential return on investment, set out five key factors to consider during the search for a home. The most crucial aspect was said to be a low house price to high income ratio (the average property price divided by average earnings within the area), alongside healthy regeneration plans. Growth in house prices within an area over the past six years is seen as a good indicator, as well as good transport links.
Bethnal Green is on the up due to good transport links into the city and proximity to trendy Hoxton and Shoreditch. The area also boasts the highest average annual income of all the London hotspots at £50,307 a year. Newham's E15, despite having the lowest annual average income at around £19,000, is expected to provide a good return on investment.
Examples of Government-funded schemes seen as likely to benefit the area are the Thames Gateway project, the building of Stratford City, regeneration of Canning Town and Custom House, and developments associated with the 2012 Olympics. These are all expected to have a positive impact on quality of life, transport and housing.
East End is hot for house hunt, Newham Recorder, 03 October 2006,
More at; Pricey Developments
Submitted by Martin Slavin on Sat, 07/10/2006 - 06:02.