Published: 28/06/2020Regeneration is actively underway across all London Boroughs, but it is especially prevalent in East London. Investors should keep a watchful eye on these hot spots, which will benefit the most. Research shows that the price growth of properties close to regeneration areas consistently outperforms the broader market, with an average of 3.6% higher than properties in the broader market.
Tower Hamlets is a classic example of an area that has experienced massive regeneration in the past decade. It's a diverse borough incorporating a variety of neighbourhoods ranging from the financial hub of Canary Wharf, the city fringe districts of Wapping and Aldgate, and Poplar. Tower Hamlets is continually evolving.
The housing stock appeals to a broad audience looking for new family homes, luxurious contemporary waterside apartments, charming Victorian terraced houses (with tales of Jack the Ripper), and converted warehouses, a nod to its past Docklands era.
The area attracts walk-to-workers and families who enjoy the newly created parks, communal gardens, and schools.
Tower Hamlets offers just as many contemporary personas as it does traditional ones. In the districts like Bow, Shoreditch, and Stepney Green, modern galleries and workspaces share the streets with cosmopolitan cocktail bars, street food stalls, and pie and mash shops. These areas attract creatives, who frequent the artisan coffee shops daily and enjoy the state-of-the-art live music venues at night.
The shopping scene is just as varied. Tower Hamlets offers everything from vintage clothing stores to antique treasure troves. Residents are spoilt when it comes to markets courtesy of big-hitters like Old Spitalfields, Brick Lane, and the Colombia Road Flower Market. These are the best places in the city to experience the authentic sights and sounds of the East End.
The potential is vast, especially with the completion of the highly anticipated Crossrail, as improvements made to transport links and connectivity throughout the capital are key to the area's appeal. Due to the ever-increasing East London workforce, demand for a rental property in Tower Hamlets has become a popular choice for investors, tenants, and buyers alike.
You'd be pushed to find a London borough with more opposing moods than Tower Hamlets. The borough has all the best elements of modern London and is home to one of the most diverse populations in the country and a rich industrial heritage. Home to the famous curry houses of Brick Lane, the modern art gallery and the East London Mosque at Whitechapel, the fashionable shops and the market in Spitalfields, the financial district around Canary Wharf, and of course, the ever-developing Docklands area, it continues to grow with housing developments and skyscrapers.