Here are our top tips on how to research investable property in London.
Research your target geographical areas by analysing their past selling performance. Also form a habit of reading key reports created by the Land Registry. Nationwide Building Society and Halifax Bank. These reports are based on house price data and are vital for your consideration. Your objective here should be to measure prices at mortgage approval or completion stages.
The websites Rightmove and Hometrack are great portals and contain intelligent data to help you measure asking prices, which is more current than the above reports but do bear in mind that there is often a significant difference between asking and sold prices.
Remember, you should not just compare asking prices with other properties on the market. You could consider whether the price is fair in comparison to other sold properties the area in recent months.
Rightmove, Nethouseprices and the Land Registry all provide sold price information and though these tools are a great way of studying past trends, they cannot tell you if prices will go up in future.
As a guide for future price increases/decreases, it’s a good idea to undertake some research within a geographical location, with particular reference to local authority development plans. This information can be found on individual local authority websites, but specifically you should be looking at the following;
– Are houses being built?
– How good are local school development and ratings?
– Are there current or future transportation developments (for example, planned Crossrail and HS2 areas have attracted many investors in recent years)?
– What crime mitigation plans.is there?
– Are there future city centre and shopping developments?
The goal is to decide if a given geographical area is to experience positive changes or negative ones, but you should also conduct on ground research in person and talk to estate agents and letting agents to find out what properties they are finding easy to sell or let.
Good Luck with your endeavours and if you are looking to join the Hamilton Paige Investors Club, then please get in touch and we shall be happy to share our latest available projects. Learn more on Category:Houses in London
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