The property market in the Bloomsbury area is picking up pace and we are now in our busiest summer months. Most university exams have finished, so we are busy dealing with non-stop enquiries and viewings for all of the students looking to secure accommodation for the next academic year.
We recommend that anyone looking for accommodation from September considers committing to a contract on a property a little earlier during the summer months, as stock availability becomes very limited at the start of the academic year and prices go up. This means that many of those still looking in September are forced to pay more for a poorer quality of accommodation, so as to simply secure somewhere to live.
Sales transactions continue to stay low due to the lack of stock in the central London area, though mortgage rates are still the lowest that they have been historically so it is a fantastic time to buy.
What’s going on in the area?
The new Crossrail station at Tottenham Court Road is making strong progress with exits now opened to access New Oxford Street and Charing Cross Road directly.
The Elizabeth line eastern ticket hall will provide an interchange with the Northern and Central lines and an integrated ticket hall, which will be six times the original size. This is part of Transport for London’s major upgrade which will include a new public plaza and station entrances outside Centre Point.
Turner Prize winning artists will feature inside the station. An applied gold-leaf artwork by Richard Wright will form the ceiling of one of the eastern escalator box.
“Flight Club Bloomsbury” on New Oxford Street is the newest addition to our plethora of fun bars to visit locally. Based on the theme of ‘social darts’ and cocktails, this is very different to your typical local pub as there are darts-related activities to keep groups entertained. The bar has been open since the beginning of April, and it has already been described by GQ magazine as one of the "coolest" activity bars in London.
Lucy and Chris - Bloomsbury Sales and Lettings Managers - Summer 2017