Investing in London? Regeneration hotspot tipped to outperform

Property consultancy JLL says it’s identified one hitherto-unfashionable part of London as an area set to outperform the rest of the capital in terms of capital appreciation and rent.

JLL says Wood Green - where it’s just opening a new branch - is set to see a 27 per cent increase in house prices and 16.5 per cent rise in rents over the next five years as the area undergoes significant regeneration. 

Both figures, if they come to pass, modestly exceed all-London forecasts for capital and rental growth. 

This considerable growth is despite a robust development pipeline. 

Some 6,400 new homes are expected to be delivered in the larger Wood Green area by 2028 with an estimated 4,000 more jobs available in the coming years.

The promising outlook for the area is mainly attributable to the Wood Green Area Action Plan, which, amplified by additional private investment, involves £3.5 billion public funds are being invested into the neighbourhood’s regeneration. 

The sustained injection of funds triggered sharp price rises 2021, with further growth expected throughout the decade.

The pipeline of supply is predominantly being driven by the Clarendon development; a new mixed-use city village situated on the site of the Old Clarendon Gasworks. 

JLL research chief Nick Whitten says: “Wood Green and its surrounding area has undergone quite the transformation in recent years, the results of which we are just beginning to realise. Development in Haringey looks set to flourish – particularly in the Clarendon neighbourhood – and after a sharp increase in sales prices in the area, indicates the onset of the ‘regeneration effect’. 

“We expect the area to be one of the pace setters of the decade and look forward to seeing what the neighbourhood becomes once everything is completed.”

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