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LONDON COMMUTER PROPERTY MARKET London’s property prices are forecast to increase by 12.6% over the 5-years to 2025, whereas the South East is expected to see higher rates of growth of 17% (Savills).
The demand for property in the South East is driven by commuters into central London. With the introduction of Crossrail and improved rail connections, more towns and cities in the South East are becoming easily commutable to central London. The rental market is also changing with the improved accessibility to central London. Renters who have previously lived closer to the city are now able to look outside of the established areas of London for a better quality of accommodation, with excellent local amenities.
Average house price
Average house price
in the South East is
in England is
£414,480
£256,000
The South East property market has experienced average house price growth of 10.51% over the past 5 years and London has seen price growth of 8.36% (Zoopla).
Demand is shifting towards new build property and central London cannot meet that demand, resulting in 15.4% rental growth for Central London Development forecast over a 5 year period in contrast to 10.9% for Prime Central London.
