Real Estate Investor Magazine South Africa March 2014 | Page 53

OFFSHORE
one of the capital’s most appealing investment
hotspots for 2013.
City of Westminster: Current average house
prices in this world famous borough have reached
£829 251, and will continue to attract significant
overseas investment as demand for prime and
super-prime residential property in the heart of
the world’s capital continues to appeal to highnet-worth (HNW) individuals globally.
With projected 1 year house price growth
of 3.8% , t here a re on ly a few pockets
within the City of Westminster which are
underperforming, however areas such as
Tottenham Court Road and Paddington are set
to enjoy major transformation with the arrival
of Crossrail, which will further benefit the
borough as a high-quality residential location.
Wandsworth: The London Borough of
Wandsworth continues to enjoy large scale
regeneration; most notably the Battersea and
Nine Elms area is set to become an extension of
London’s prime markets.
The Vauxhall, Nine Elms and Battersea
Opportunity Area (OA) is one of the largest
regeneration projects in Europe, the most
centrally located regeneration opportunity
in London and a key element of the Mayor’s
London Plan. With 16 000 new homes and a
likely employment capacity exceeding 25 000,
this prime site will be transformed into a world
class residential and business quarter.
At the heart of the OA will be the new
US Embassy building and various public

realm features including the embassy plaza,
a riverside walk and the Linear Park – a tree
lined green space stretching from Battersea
Park to Vauxhall. Significant infrastructure
enhancements include the planned extension
to the Northern Line into Nine Elms and
Battersea and a footbridge is also planned,
making Pimlico a short walk away.
Through combining the well-established local
housing markets of Balham and Wandsworth
Common, house prices in the borough are
£471 228, with a projected one year house price
growth of 11.2%.

“Crossrail, which will
open in 2018, will
make a significant
contribution to the
transport needs and
economic development
of London”
Kingston upon Thames: Providing fast direct
links into Central London, the London Borough
of Kingston upon Thames is most popular
with families looking to enjoy some of the best
schools in the capital. Comparatively affordable
with average house prices at £342 297, the
area consistently sits against a backdrop of low
housing supply, which is set to further increase
house prices by 6.7% during 2014.

Islington: Enjoying close proximity to the
City, the London Borough of Islington has a
diverse cultural offering and a vibrant night
life, complemented by quieter cafe culture
environments in many pockets of the area.
The borough continues to appeal to a range of
buyers including young professionals, families
and students, with a large population who have
lived in the borough for decades.
With the housing supply unlikely to keep pace
with a growing local population, the current
average house price in the borough is £539 203,
with a 1 year price growth of 8.8%.
Hackney: The increasingly popular borough
of Hackney has witnessed house prices double
over the last decade; with average prices
now reaching £539,203. Enjoyed by a large
community of young entrepreneurs and creative
minds, this f lourishing area is further set to
benefit from large scale regeneration and widespread improvement to infrastructure links.
With continued high-quality residential
accommodation emerging on Hackney’s
skyline, the price growth of 12.8% is the highest
of the London