From redeveloped industrial docklands to traditional London villages, living on The River Thames offers something for everyone. Fourth in our Riverside Living series, we talk to Daniel Montaque, sales manager of KFH’s London Bridge branch about the many charms of this foody riverside area.
What are the types of property available?
London bridge is the gateway to the South East and has plenty housing stock to offer with an eclectic mixture of properties. From your typical two bedroom two bathroom newly built apartment with facilities such as gym, parking, home theatre and concierge; to Mansion style blocks, warehouse conversions, Georgian houses and converted apartments live work units and luxury apartments offering riverside and city views across the London skyline.
What type of buyers/sellers are you seeing, and where are they coming from/moving to?
Buyers within this area are predominantly young professionals and first time buyers who work locally between The City, Barbican and Canary wharf.
A small percentage of these buyers are students whose parents often purchase apartments on their behalf by way of an investment to keep their rental expenses low whilst studying locally at Kings.
Our sellers range from Barristers, MPs, Bankers and Doctors who stay locally for the convenience and lifestyle for work and in some cases have family homes outside of London, recently we have seen some of these sellers moving towards other popular locations such as Dulwich Village and Clapham Common.
What is there to do in the area?
The area has plenty to offer with multiple bars, pubs and restaurants along Borough High street and beside Borough Market. There are plenty of other options in and around Bermondsey Street, Haze Galleria, Shad Thames and Lower Marsh. Film buffs can also find London’s Imax cinema at Waterloo and Shortwave Cinema by Bermondsey Square.
Outdoor sporting facilities include five a side football pitches, Tennis courts and basketball courts. Many local gyms can be found within some of the newly built developments. These offer multiple classes with state of the art equipment and are often open to the public.
You can be spoilt for choice by The South Bank which is the go to entertainment and commercial district of Central London. Many art Galleries such as Tate Modern and renowned exhibition museums and theatre’s such as Imperial War and Shakespeare’s Globe to name a few.
How is the market currently performing?
Property price growth has cooled somewhat as fewer buyers are entering the market than previous years, however the motivation of buyers in the market is high. We have witnessed more property coming to the market at reasonable prices and this has encouraged buyers to view and make sensible offers.
Any market predictions?
The Bank of England announced on the 4th August their decision to cut the bank base rate from 0.5% to a record low of 0.25%. It was also announced that a further £70 billion of quantitative easing will be pumped into the economy to provide an additional boost.
This shot in the arm is welcome and I predict September will be busy. I expect buyer registration to out perform previous years and an increase in overseas buyers seeing London as good value for money. This is particularly good news for London Bridge and it’s surrounds with investors coming back to the market due to cheaper borrowing and potentially higher returns that many other savings and investment vehicles.
Contact the team at London Bridge to discuss buying, selling, renting or letting property in the area. To discover more about London's riverside and our branch coverage along the Thames, visit our riverside homepage.