Overall Market View

OVERALL MARKET VIEW

The East London lettings market is back to its buoyant self after a slouchy 2006 and average 2007. Rents have remained reasonably static, with gains shown in areas currently under regeneration programmes. There is still a huge demand particularly as The World now has its eye on East London due to The Olympics and The Channel Tunnel Rail Link. Not only can investors cover all costs but can now work on the premise that the East London property market is forecasted to expand and increase significantly. Parts of East London and Docklands are being seen as “potential goldmines” for long term growth.

Therefore the long term prospects for East London are sure to improve with the opening of the International terminal at Stratford, The Docklands Light Railway extension currently being built underneath the River Thames and the continuing overall expansion of housing and infrastructure throughout the Thames Gateway including the plans for The Thames Gateway Bridge and The Stratford City project. The sales market due to the credit crunch is having a torrid time and this ensures that more tenants are looking for rented accommodation as they are unable to either get a mortgage or worried about a possible negative equity effect.