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Guess what? Our spotlight feature is back! Here property experts Amilli Property shine a light on why West Ham, an area within the London Borough of Newham, is a property investment hotspot that you should be aware of.

The lowdown

When the words West Ham are mentioned, the world-famous Premier League football team comes to mind, not the rapidly developing area of East London, not far from the hub of Stratford.

However, this all looks set to change. Although the world-famous Upton Park stadium will no longer be the home of West Ham United from 2016, the area is set for a huge residential regeneration that prospective investors should pay attention to.

Being incredibly close to Stratford has benefited West Ham hugely since the 2012 London Olympics and the opening of Westfield Shopping Centre. West Ham is only one train stop away from Stratford, meaning the wide array of nearby amenities are easily accessible. Barking Road is West Ham’s immediate shopping hub, with a few superb restaurants and pubs interspersed.

The rental market

Investors who are on the lookout for new places to invest need to have West Ham as a location on their radar. At the end of the current football season, West Ham United are moving from Upton Park stadium, where they have resided for the last 100 years, to Stratford. This means a vast area of space is now available to be redeveloped, and it looks as if plans will go ahead to convert the stadium into a residential village, comprising around 830 new homes.

This is music to the ears of eager investors who are keen to find a new area to become a landlord in now the price of property in Stratford has increased so significantly.

Not only this, but landlords thinking of letting property in West Ham needn’t worry about void periods either, as tenant demand here is incredibly strong.

This is all thanks to the area's location, and its intimate connections to the capital which are set to expand in the coming year. Not only will the introduction of the Crossrail at the nearby Stratford station increase the amount of renters moving to areas like West Ham, but the night tube will also create a positive impact for landlords.

West Ham’s underground station is one of many fortunate locations which will benefit from Transport for London’s Night Tube, when it begins running in early 2016. In a previous blog we discussed the impact that this will have on rental values in the areas affected, so this is another plus point for investing in West Ham.

The sales market

House prices in West Ham have boomed in recent years, and are only set to increase further, so if you’re considering investing, act fast. The average property price here currently stands at £334,000, an increase of over £26,000 on last year's figures. This is mainly as a result of the intense redevelopment of Stratford, which has had a trickling down effect on West Ham and the surrounding areas.

Ultimately, house prices are rising in the area because the demand for property is rising. The area contains a mixture of Edwardian and Victorian terraced houses and large sixties council estates, attracting a wide range of age demographics.

Young professionals are choosing to make West Ham their home as they want to benefit from the area’s close connections to the capital. First-time buyers and families are choosing to bed down in West Ham as they're able to get a lot more property for their money here when compared to many other parts of central and east London.

The future

Developing property for eager investors is the future for West Ham, as at the moment it is an area which isn’t maximising its potental. The redevelopment of Upton Park is only the start for an area which will see both sales and rental values rise further in the next 12 months.

If you would like to know more about investing in West Ham, or any other surrounding East London areas, then don’t hesitate to get in touch with our team of trained property investment experts today.

Alternatively, if you would like to know how much your property could generate in monthly rents, then why not check out our free, instant online valuation tool?

https://blog.amilliproperty.com/amilli-property-spotlight-west-ham/

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