Right now, east is the place to be. And specifically, Ilford.
The town has it all. Sat in the borough of Redbridge, Ilford is the next town out after Stratford. Following in Stratford's footsteps, Ilford looks to be the next town to get a facelift in East London. With quick and easy transport links, high levels of property stock on the markets at great value for money, comparatively in London, and plenty of investment in motion here, there's never been a better time to invest.
In the first of our monthly spotlight location focus blogs, see our 5 reasons why Ilford should be on your radar:
1. Infrastructure investment
"Ilford is one of North East London’s largest towns, and now presents an excellent case for investment in property. With so much regeneration investment arriving here, it's become one of London’s key towns to watch." says Nina Kaura, Portico Office Manager in Ilford.
"Ilford will receive over £40m of Crossrail-related investment that will see Ilford Station upgraded, along with the surrounding public areas. The plan has also promised to deliver up to 1,500 new homes, commercial floor space and significant investment in local facilities, including the Exchange retail centre."
2. Ilford life
Ilford benefits from being within close proximity of Central London, whilst being a lovely suburban area in which to live. With plenty of green spaces, pubs and the large Exchange Shopping Complex, the area offers loads in the way of amenities and recreation. Great areas to explore buying property would be Valentine's Park and Gants Hill.
3. Property on the market
With the overall average house price sitting at £401,036, during the last year, sold prices in Ilford were 4% up on the previous year and 18% up on 2015 when the average house price was £339,013 (according to Rightmove Sold Prices data).
But why buy now? Yields in Ilford are the best in London, at 6.1% (data taken from the Portico Yield Map). Average rent in the borough of Redbridge is £295 per week for a two bedroom property (according to Portico rental data).
The properties on offer include many semi-detached properties and flats, as well as double-fronted houses (such as this one), a rare find on this side of London. Explore properties for sale in Ilford here.
4. Transport links
Not only is Ilford a 20 minute direct train commute into Liverpool Street, it's also on the Crossrail route, which will be opening in 2019. With a slightly later Crossrail opening date than other stations, buying in Ilford now still gives the property in the area time to increase in value too.
5. Tenants at the ready
This is a great time to buy property in the area due to the diverse group of people looking to rent here. As well as young professionals looking to get more space for their money slightly further out of London, there are also many homeowners from further into the city who are renting their own property out and looking to rent themselves to accommodate their growing families. Therefore the need for rental property in this area is only going to grow over the coming years.
An area on the rise, there really is no better time to explore the option of buying in Ilford.
To explore the properties we have for sale in this area, click here now. You can also explore our auto-updating Yield Map to keep on top of yields by area around London now.
Wondering the value of your property? Take our quick and easy Instant Valuation to find out an approximate value of your home in a couple of minutes. A member of our team can then arrange a full valuation for you.