Due to all the hype surrounding the ‘London Ripple’, I thought I would look at how this is affecting us down here in Thanet.
The London property market has gone a bit mad recently to say the least (yes, even more than usual). I have been keeping my eye on this as friends of mine are currently trying to get a mortgage to purchase in London. They are currently renting in Hackney and would, within reason and financial constraints, like to stay in the area. So I did some research for them and found that property in Hackney, in ONE year, has increased by over £100,000, around 17.5% annual increase!
This got me wondering to what degree this has affected us here in Thanet. So after doing some more research I found that in the month from March to April of this year, property has increased by nearly 3% on average in the Isle of Thanet. From April 2013 to April 2014 the average price has increased by just over 5% – not bad for those BTL investors that are also getting average yields of 4.9%! Giving an annual return of around 10%. If anyone knows of a bank savings account that can offer this, let me know!
If you would like some more information about how the markets are changing due to the ‘London Ripple’ or would just like some advice on what areas and what properties make for a good investment then come and see us. Our office is in Northdown Road in Cliftonville. I look forward to seeing you.
Data source—Rightmove HPI
