Significant mortgage movement is likely to take place in south-east London in the coming years, as investors begin to view the area much more favourably.
Steven Herd, managing director at MyLondonHome, has noted property prices in the region have risen considerably in recent times, despite a north-south divide still being apparent in England’s capital.
Mr Herd explained both residential and commercial developers have been showing an interest in the area of late, with 2011 in particular seeing the region becoming increasingly attractive to those looking to put their money into a project.
He observed there are numerous key regeneration initiatives in south-east London getting underway at present, adding: “Property values are expected to increase even further, thus narrowing the north-south divide values even more.”
Mortgage values may therefore be set to escalate in 2012, especially as further price growth is anticipated for the remainder of the year.
Mr Herd – who founded MyLondonHome in 2002 – went on to point out the effect of the ongoing housing shortage is likely to have a positive effect on the region in general.
