The Docklands is earning a new reputation amongst Londoners as the ultimate place for property investment in the city; the Docklands and surrounding areas saw a growth in the property market by approximately 15% in the first half of 2015, which estate agents are labelling as a mini ‘property boom’ within the area.
The influx of construction in the area is reeling in quite a crowd, from investors to first-time buyers, who are looking to reap the benefits from the mixture of new and exciting investment opportunities.
Docklands Property Boom in Figures
Property prices in the Docklands have seen a significant increase over the last six years. The Telegraph reported that this area of London has seen an impressive 17% rise in the property market thanks to wealthy and well-educated professionals investing in the area due to the number of global businesses that are based there, such as Barclays and HSBC.
Knight Frank’s index has declared that since 2013, the price of property in Canary Wharf has risen by approximately 27%; impressively, this figure outstrips the 10% increase that occurred in Prime Central London over the same period of time. In addition, the first half of 2015 was a significantly successful period for the area, as Canary Wharf and the rest of the Docklands saw a growth in property prices by a further 3.4%. Surrounding areas such as Blackheath also experienced an exceedingly successful growth in the property market during the beginning of 2015 with prices rocketing by 14.4%.
What are the Factors Contributing Towards this Property Boom?
Businesses in various industries, including the financial, creative and technology sectors have fuelled this growth in the Docklands and its surrounding areas including Blackheath and Greenwich. The invigorated financial sector in Canary Wharf, in particular, is causing the residential market to flourish and is making the area a hotspot for young professionals. The Director for Chestertons Estate Agents in North and East London, Corey Askew, stated:
‘Sustained price growth makes the Docklands and slightly adjacent areas such as Greenwich and Blackheath an ideal investment. London has now overtaken New York as the world’s undisputed financial capital, fuelling a jobs boom and a vigorous corporate rental market.’
Another thriving asset that the Docklands has to offer is the incomparable transport links that continue to make the area an appealing place for professionals looking for a quick and comfortable commute into work. The introduction of Crossrail at stations including Canary Wharf and Custom House will improve the Docklands' reputation even more as an employment hub and property prices will potentially grow as a result.
This remarkable collection of apartments in Canary Wharf is set to become a new luxury landmark comprising five residential towers and an impressive leisure complex in London’s Docklands. The focal point of the development will be Maine Tower, which is set to feature 297 outstanding apartments, ranging from exclusive studios to luxury three bedroom apartments. Occupants of this development will be able to enjoy access to the exclusive ‘Residents' Club’ which is set to include a library, cinema, spa and more.
In addition, this development is impressively close to both South Quay DLR station and Canary Wharf Underground station, meaning that the rest of London will be on your doorstep with Bond Street only 22 minutes away from Canary Wharf Tube station.
Residing in the Docklands location of Surrey Quays, this development will provide a remarkable assortment of one, two and three bedroom apartments, including 16 wheelchair-accessible properties. The majority of apartments will have the luxury addition of private balconies or terraces where residents will be able to indulge themselves in the relaxation that the riverside views will provide.
This development will be ideal for any young professionals looking to be close to the City and Canary Wharf because Marine Wharf East will only be a short 10 minute walk away from Surrey Quays Overground station. There is something in Surrey Quays for everyone as it offers a whole host of appealing features, including culture, luscious greenery and excellent educational establishments, to name a few.
Situated next to the River Lea on the outskirts of Canary Wharf, Orchard Wharf is Galliard's latest mixed-use development, set to comprise of one, two and three bedroom apartments, duplexes and penthouses. Each property will enjoy access to a private balcony, terrace or ground level garden, whilst a furniture package will also come included upon completion. Residents will appreciate the exclusivity of a daytime concierge, whilst access to landscaped gardens, rooftop terraces and recreational areas will provide the perfect on-site retreat.
East India DLR station will be just five minutes' walk away whilst Canning Town Tube station will be 10 minutes away for Jubilee line services. Orchard Wharf will suit both investors and homeowners looking for an affordable and promising opportunity within the confines of one of London's most ambitious regeneration zones, with Canary Wharf just a short commute away.