Analysis by AI powered, property investment portal www.oneandonlypro.com has found that Kensington & Chelsea is the best place in London to invest in property as Brexit fears continue to hit prices.
Almost a fifth (19%) of properties in the borough were found to have ‘Diamond’ investment status by One and Only Pro’s unique algorithm, with an average price tag of over £1 million.
The research ranked London boroughs based on the percentage of ‘Diamond’ properties on the market in March 2019. Investment properties across London were given a score from one to ten, with properties rated ten dubbed ‘Diamond’ properties and the most likely to increase in value.
Whereas developers and investors would typically be looking for growth areas, the research shows that property is all about location. It is currently better to buy in the prime areas of London, as it offers investors better returns, terms of location and long term value.
In second place, with an average Diamond property price tag of £520,669 was Hammersmith and Fulham, with 11% of Diamond properties. The City of Westminster came in third place with 9% and an average £917,799 Diamond property price. Fourth place went to Barking and Dagenham, a potentially attractive option for investors with an average price of a Diamond property in the area of only £367,716.
In fifth place was Camden, with 4% of properties offering a sound investment. With an average Diamond property price of £802,019, it is in a similar league in investment terms as Westminster.
Henri Sant-Cassia, Chief Executive of One and Only Pro commented: “We were expecting prime central London to do better than the rest of the London boroughs, as this area has already been discounted much more than the outer areas due to Brexit fears. We are seeing a high number of properties now at an attractive price and with weaker sterling this has been attracting foreign buyers back into this market.
“Generally the £3million plus market may not be performing as well as other properties in London’s wealthier areas. But our data shows many properties around £1-2 million have underlying strength at this price range. They have bottomed out in terms of price and could even experience gains in the near future.
“Outside of Central London Barking and Dagenham shows most potential and with average property prices of less than £400,000, this is also a very accessible investment opportunity.
“My other top location tips for buy-to-let investors at the lower end of the market would be Newham and Haringey. The Diamond properties in these areas cost less than the average cost of a home in the UK at between £170,000 and £218,000. One and Only Pro has been designed to reveal those hidden gems, so even inexperienced investors can find the best deals in a particular area”.
One & Only Pro aims to help investors of all levels to find the deal of a lifetime. It already hosts over 210,000 opportunities, almost 9,000 of which are Below Market Value, with almost 25,000 listings yielding higher than 7%.
For further information, please visit www.oneandonlypro.com.