• Ilford town centre designated as new London Housing Zone (GLA)
• Ilford property values rise 24.53% in 5 years (Zoopla)
• Housing Zones driving investor interest in London (Surrenden Invest)

London’s Housing Zones are areas that have been identified as part of the Mayor’s Housing Strategy as locations that are in desperate need of new housing and which have high development potential. The Housing Zones have created a new way to speed up house building in the capital. They have also acted as a magnet for property investors keen to be part of London’s rapidly evolving future.

According to data presented by BBC Inside Out, London needed more than 250,000 new homes built from 2011-2014, yet actual build numbers languished almost 100,000 units below that target. It’s a disparity that Londoners are all too familiar with and is one of the reasons that prices in the capital have risen to steeply. The situation is such that Rightmove predicts that the average London home could reach a price tag of £1 million by 2020.

Jonathan Stephens, Managing Director of Surrenden Invest, observes,

“London’s Housing Zones have been designed to speed up the rate at which new property is built and brought to market. The city’s housing crisis needs urgent attention and this is one way in which the Mayor’s Office is seeking to help alleviate the situation. It’s a smart move that looks set to benefit Londoners in each of the designated zones. At the same time, it has captured the attention of investors by flagging up areas with outstanding potential.”

Ilford, in the borough of Redbridge, is a great example of one such area. Already a well-resourced, family-focused area packed with shops and restaurants, Ilford town centre is set to benefit hugely from its new Housing Zone status. New homes will see up to 4,000 construction jobs created, with Helen Coomb, Redbridge Council Cabinet Member for Economy, Regeneration and Planning Councillor, commenting,

“Receiving this funding is great news for Redbridge and will allow us to deliver much needed housing in the area. This level of investment from the GLA will bring improved transport along with the arrival of Crossrail and new jobs will boost the local economy and provide great new facilities for our community.”

Plans for those facilities have already reached a value of £1 billion, including work to improve Crossrail stations such as Seven Kings and Ilford, street improvements, the enhancement of open spaces and town centre regeneration work.

Ilford is certainly an area that is welcoming new development. Property values there have risen by 5.71% in the last year, according to Zoopla, and by 24.53% in the past five years, as the lack of new housing and the Crossrail effect in this popular location have served to impact on the market. Of all the areas set to benefit from Crossrail, Jones Lang LaSalle has projected that Ilford will lead the way in terms of price growth.

All of this is great news for those investing in the housing schemes that are being developed. One of the latest in Ilford is Horizon Ilford, a mixed use building including studio, one, two and three bedroom apartments. The sustainable design includes green ‘living’ walls, photovoltaic cells on the upper levels, rainwater harvesting and a centralised heating system that combined with smart design will ensure that less heat escapes from the building, lowering energy consumption and reducing residents’ energy bills. It’s being hailed as a sustainable building for a sustainable community.

Just a short walk (5-7 minutes) from Seven Kings station and a slightly longer stroll (10-12 minutes) from Ilford station, Horizon Ilford is certainly well within the Crossrail catchment area. It’s also ideally located for good local schools, shops and restaurants. Investment will include a 15% down payment, with the balance due on completion some two years from now.

For further details, visit www.surrendeninvest.com, email info@surrendeninvest.com or call 0203 3726 499.

• Albert Dock visitor numbers up 21% in Q1 2015 (Albert Dock Liverpool)
• Average North West property is £375k cheaper than average London property (Land Registry)
• Liverpool docklands buy-to-let property available from just £109,950 (Surrenden Invest)

Liverpool and London’s dockland areas have much in common. Both played an important role in England’s shipping and mercantile history and suffered a decline as their commercial viability waned over the years. Now, both areas have been reinvented as attractive locations to live, work and play. But which has the edge?

According to Jonathan Stephens, Managing Director of Surrenden Invest, it is Liverpool’s Albert Dock that is turning investors’ heads these days.

“London’s Royal Albert Dock is undoubtedly a great place to live and to invest, but when it comes to residential property, Albert Dock in Liverpool is definitely the place to be right now. Unlike London, prices there are still fantastically low – well below the UK average, in fact – and offer huge scope for capital gain. Liverpool’s population is booming and tenant demand is high, with low void periods and high yields making the Northern Docklands a seriously exciting investment prospect.”

After lying derelict for nearly a decade, redevelopment work began at Albert Dock in 1982, with the official reopening in 1984. Some 30 years on art galleries, museums, swanky bars and funky independent shops sit alongside high-end new homes at Liverpool’s Docklands, backed by the stunning waterfront setting.

The Terrace at The Quarter, due for completion in Q4 2016, is the fourth phase in the award-winning ‘The Quarter.’ Just five minutes’ walk from Albert Dock, the development will offer 110 luxurious one and two bedroom apartments. The contemporary homes will be complemented by an onsite gymnasium and investors can look forward to strong capital growth and 6% p.a. assured for three years.

Tenant demand for such accommodation is strong and growing. According to the Office for National Statistics, Liverpool’s population is younger than the country’s average, with 42.3% of inhabitants under the age of 30 (compared with 37.4% nationally). These dynamic youngsters are enjoying the city’s booming professions, which include pharmaceuticals and bio-science, law, finance and wealth management, as well a booming knowledge economy thanks to new media and computer game development.

Those living in the Northern Docklands can also delight in the appeals of their area – Albert Dock attracted more than a million visitors during Q1 2015, according to official figures from Albert Dock Liverpool. Tate Liverpool and The Beatles Story were two of the most popular attractions, while the inaugural Albert Dock Rum Festival also played its part.

While in London such opportunities also abound and generate strong demand from tenants, it is the low price point of Liverpool’s residential property that is proving so attractive to investors in buy-to-let accommodation. According to data from the Land Registry House Price Index issued in August 2015, the average price of a house in England and Wales is £183,861. Prices in London are well above this, with an average price of £488,782, yet in the North West the average price is just £114,064.

Such disparity makes the Liverpool docklands incredibly affordable for buy-to-let investors, compared to its London counterpart. Investors looking to be part of the Albert Dock’s bright future can purchase residential buy-to-let accommodation at The Terrace at The Quarter through Surrenden Invest from £109,950.

For further details, visit www.surrendeninvest.com, email info@surrendeninvest.com or call 0203 3726 499.