Buying real property has always been considered a sound investment, primarily because property values tend to appreciate over time under normal and natural circumstances. Savill UK had in fact predicted the price of houses outside of London to shoot up by 4% in 2021. This was in comparison to the average property values of homes prior to the pandemic.
In July, 2021, the actual growth had exceeded predictions as new data revealed the prices of home increased by 5.2%.
Actually. the 4% forecast was in light of the “stamp duty holiday” declared by the government to help buyers keep the real estate industry alive.
Many wanted to acquire a property to live in outside of London, which had spurred a behavior in which a large number of people sought to buy bigger homes with gardens, preferably outside of the capital.
While the prices of London properties were initially affected by the exodus, many were surprised to learn that the demand for London homes had increased. As a result, prices likewise increased; denoting that the demand had exceeded the available supply of real estate in London’s house market,
After the stamp duty holiday ended last September 30, 2021, London posted an aggregate housing value of £2.4 trillion, enabling the Greater London area to maintain its position in the UK as the most valuable region. The South East of England came in second with a total housing value of £1.7 trillion, while the East of England ranked third with a total of £1 trillion.
According to leading online market resource for UK properties Zoopla, the South East of England has likely potential to outperform all other regions in terms of rising valuations in the next five years. Take note of this information when looking to invest when contemplating to in another real property.
Nonetheless, houses located in East of England are currently drawing attention as a desirable place to live in, particularly, Borehamwood, a burrough in South Hertfordshire. The real estate developments in Borehamwood recent years has provided the South Hertfordshire area with fairly ample supply of houses to offer those looking to buy a property outside of London.
Why Buying a Property in Borehamwood Pose as a Sound Investment?
Actually, a reference to Borehamwood properties is linked to Elstree real estates, as the two burroughs share a common local council. Elstree and Borehamwood are famous because they are home to many film and TV studios. The properties were used as shooting locations in several famous film projects and highly rated British TV shows.
Aside from the shared popularity, families who made Elstree or Borehamwood as their new home found, also great school choices, while accessibility to London is a plus factor. A 25-minute train is all it takes to reach one’s place of work in the capital city.
Anyway, you can inquire about Elstree or Borehamwood online, via the website of top Borehamwood Estate Agents who provide free valuation services