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This incredible world city is far more than just the capital of the United Kingdom. London is bustling with energy and multiculturalism and is world renowned for its history, culture and architecture, both old and new. A city where traditional pubs are housed between with the newest cocktail bars and ancient castles neighbour shiny new skyscrapers. London’s energy, as almost nine million people go about their everyday lives, is tangible in every ride on the Underground and every walk along the banks of the River Thames. From the palaces to the shopping centres, from the museums to the theatres, this is a city that has life in abundance.
Over centuries, London has survived its fair share of heartbreak and drama. Through the fire of London, which destroyed large parts of the city, two world wars and the bombing that ensued, the decline of the British empire and numerous financial crises, London has held firm and remained a global powerhouse. It is because of this tenacity and willingness to stay ahead of the times that London continues to captivate, attracting workers and investors from every corner of the globe.
Due to the highly sought-after nature of London, it is no secret that its property prices are higher than the rest of the Country. Each decade property prices in the capital have more than doubled with some areas, such as Hackney and Southwark, seeing a price growth of nearly 700% between 1996 and 2016.
More recently, the boroughs in the east of London have recorded the highest house price growth of any in the capital since 2014, due to ongoing and dramatic regeneration. This was driven by the continuing success story of Canary Wharf, the spread of the Stratford transformation thanks to the Olympic legacy, and the construction of micro towns such as Barking Riverside.
Furthermore, London’s Crossrail project, which will run from Shenfield in the East to Reading in the West, has triggered massive investment into the towns running along the new line. The new line, which will be formally known as the Elizabeth line upon completion, offers ample opportunity for purchasing property with easy access to the centre of London but without the price tag.
There are also signs that the UK has reached a turning point in its ongoing Brexit battle. With a new Conservative parliamentary majority, a deal looks likely, bringing with it that all important certainty. In fact, immediately after the December 2019 general election result hundreds of Multimillion-pound deals exchanged or completed. Wealthy overseas buyers and investors piled in, snapping up luxury homes, according to the capital’s high-end estate agents. This is not a coincidence but a clear sign that confidence in the UK and London is returning. With confidence comes investment, with investment comes opportunity and growth.
At CityRise, we believe it takes a brave person to bet against London. It has weathered every adversity thrown its way, whilst retaining the charm that attracts millions of visitors every year. With exciting new developments in London’s infrastructure expected to be completed in the next five years, London will continually remain a sure and profitable investment.
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