In a Nutshell - August 2016

In a Nutshell - August 2016
'Night Tube' could increase rents in outer London
London's 24-hour tube services could increase rents in residential areas along the affected lines.

The Victoria and Central lines will have 24hr trains from Friday 19th August. The Jubilee and Northern lines will follow later in the Autumn.

ARLA has claimed that more convenient train times will "increase the appeal of living further out of London" and provide a subsequent boost to the rental market.

A quarter of ARLA members said they expected rent rises, and increased tenant demand will push up rents for landlords in those areas.

Meanwhile, Slough and Reading, which will be affected by Crossrail, have seen house price increases of 39pc and 33pc since the project was announced in 2014 - against a regional average of 22pc.

Rightmove Ranks London Price Growth
London's best-performing borough has been calculated by Rightmove latest house price index.

Barking and Dagenham registered annual house price growth of 15.7pc to August, up to an average of £262,292 in the borough, the biggest growth in the capital by more than 1pc over its nearest rival.

It is the biggest inflation in the 12 months to August 2016.

Rightmove 0816 Boroughs top five

Westminster was the worst performing London borough; average house prices were slashed by 24.1pc in the year, down from £2,146,526 to £1,629,205 in August 2016.

The London market continues to produce opportunities for investors to expand their rental portfolios. To find out more about your local sales and lettings market, contact your local Ellis & Co office today.