James Max

How to find a property bargain in London

The centre of London currently looks as though the apocalypse has struck. Streets, bars and restaurants lie empty and shops are boarded up. It’s hard to picture the bustling capital so familiar to many of us a year ago and it’s understandable that this dead city centre has prompted many home owners to up sticks and leave. But reinvention is sure to occur. And when it does, you’ll want to be a part of it. Whilst interest in rural properties has surged and rents in London are falling, prices in the capital are yet to reflect the sheer volume of people moving out. Those who can hold on to their London property are doing so in the hope the city will bounce back post Covid. Supply remains tight whilst domestic buyers continue to take an interest. But there are still bargains to be found, with a strong chance that prices will stagnate, if not fall, as the city exodus continues.

The latest research from Savills is interesting. Yes, property prices will rise in the UK this year, they predict. But perhaps not in central London. Your strategic advantage is looking in London whilst the market is slow and a bit depressed. There are few international buyers and there’s some stock hanging around and people who have held on during the pandemic will be keen to sell and move on. If you are in a position to move fast, there could be a discount for certainty. And if you are prepared to renovate, you are at a double advantage.

I have written plenty of articles about places to watch, locations that will see growth when the Elizabeth Line opens, areas where there’s green space, accessibility and all the ingredients post-pandemic buyers say they want. And there are still plenty of reasons to consider those areas. However, if you’re on a real bargain hunt here are my top five recommendations.

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