London has long been considered the place to be for any kind of investment. England’s capital city sees flocks of tourists, overseas workers, and investors heading to London year after year to take advantage of the sights, attractions and opportunities available. Those considering their first investment in the UK might automatically look towards London buy to let, but is this city really the property investment hotspot that some of us might think it is?
Buy to Let Property London
The Office for National Statistics reports that the average London home cost £115,000 twenty years ago, growing to an average of £351,000 in 2008 and standing at around £671,412 as of 2018. Capital appreciation had long been the main force driving people to invest in London property, with the potential for London properties to grow in value over recent years. If an investor had purchased a London property for £200,000 in 2007, near Kings Cross station, for example, this would now be worth over £300,000.