Landlords believe properties in North East London along the underground’s Central Line will be the next buy-to-let hotspot, a new survey has shown.
The districts of Woodford, Leytonstone and Redbridge have been identified by 30 per cent of landlords polled as the best place to invest, followed by South East London and then East London.
And 28 per cent of landlords expect to increase their property portfolios and are optimistic that HS2, the high speed rail route linking London to Birmingham, the East Midlands, Leeds and Manchester, will boost property prices in the capital even further.
Nearly two thirds (63 per cent) believe the new transport link will cause property prices in the capital to rise and 33 per cent think they will rise dramatically.
Christina Dimitrov, business manager at Direct Line, who conducted the research, said: “Landlords across the capital will always be looking for the next big thing in property, as there are always trends in demand with people wanting to rent in the latest up and coming area. We have seen this before with locations such as Tooting, Bethnal Green and Walthamstow suddenly becoming hot spots.”
Alex Huntley, Head of Operations for Simple Landlords Insurance, added: “It’s great to see this confidence from landlords in London, and that should really reassure landlords across the country. Despite the uncertainties of Brexit and other challenges in the sector, people are still investing, and they’re playing a long-term game.
“I expect we’ll see corresponding growth at the other end of the train line – particularly in Birmingham, Leeds and Manchester – where new transport links to London will also have an effect on demand. There are opportunities out there for savvy landlords who are using transport and town planning information to invest strategically.”