Zone 3 will become the new hot area and tech districts will take off, as Crossrail breathes fresh life into the capital and beyond, and the rental market sees major growth.
Zone 3 will become the new Zone 2
Priced out of central districts, buyers will continue to push into cheaper areas beyond the West End and City fringes. Almost 80 per cent of housing demand in London is for homes below £450 a square foot, which roughly equates to a price ceiling of £250,000 for a typical one-bedroom property and £350,000 for a two-bedroom home.
Developers are scrambling for sites in Zone 3, believing this is where demand will be strongest. Properties in so-called “non-prime” districts will see the biggest price gains — 22.7 per cent over the next four years, according to estate agents Savills.
Most buyers will head further south and east, where the bulk of new homes are being built and values are roughly two thirds of those in north and west London.
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