The Emerging Wembley Rental Market
When Wembley first formed many years ago – a simple, small village in rolling countryside, dotted with modest Victorian homes – it didn’t seem like a place that would host some of the world’s most iconic sporting and music events. Even when Wembley Stadium was built, the area took a little while to catch up. But now, it is safe to say that Wembley has indeed developed into an investment property hotspot for the buy-to-let market, and for many reasons.
Urban regeneration at its best
In 2016, development started on the country’s largest ever build-to-rent project, with 5,000 homes promised to be built in the area. A new town hall was built, as well as an impressive mega-shopping complex, and a new seven-acre park, injecting a new sense of community in the area and rekindling its countryside atmosphere.
Living in Wembley
Although the historic popularity of the stadium for massive sporting events and historic music events doesn’t hurt, it’s not all that Wembley has to offer those not only looking to rent apartments but buy investment property too.
Transport and location
Wembley is a hidden gem in that it is well-connected to the heart of London, but is designed in such a way that you feel as if you’re well out of the hubbub of the city centre. The Wembley Park Underground Station and Wembley Stadium Station allow residents to hop on a quick underground to Bond’s Street, King’s Cross and other central London areas. This means that residents enjoy a quicker commute to work, and a convenient way to get to other desired areas in London.
Food, fun and shopping
No one, particularly the younger market looking to rent property in an affordable area, wants to live somewhere that doesn’t offer the convenience of the city without the hefty rental prices. When it comes to food, fun and shopping, Wembley has it all! When in Wembley, you can dine on cuisines from around the world, including Thai, Mexican, Spanish, Portuguese, Brazilian, American, and of course, British food too.
In addition to the Wembley Stadium injecting an economic boost into the area, the London Designer Outlet semi-outdoor shopping centre was the first of its kind to open in Greater London and offers a much-needed hotspot of entertainment, shopping and convenience to residents of Wembley and the greater Wembley area.
The centre boasts over 20 restaurants and cafes, as well as a weekly food market that feeds the masses of residents and workers. There is a cinema for avid movie-goers, clothing stores for those with designer tastes and retail stores galore.
Open spaces and picturesque places
Wembley Park, fondly known as the green heart of Wembley, is well-known for its endless parklands and wide, tree-lined boulevard that creates a sense of tranquillity and wonder, complete with a sparkling fountain in the Arena Square. The park has over 250 acres of woodland and green fields and ponds, and features a bowling green, tennis courts and an all-weather playpark popular with children and families.
Not just a renter’s market
Wembley has long been known for its massive rental property market. According to a Foxton’s report, the average price for letting out a property in Wembley is just £415 per week. There are properties to cater for a wide range of people looking to both buy property and rent. Many younger professionals cannot afford to buy property just yet, which is why the cost of rentals in Wembley is so appealing.
In the 1930’s, gorgeous terraced and semi-detached homes were built along the Metropolitan line, offering families with children a great opportunity to buy a house that suited their growing families’ needs, while offering the convenience of a short trip to central London. To add to Wembley’s allure for families, there are several great schools to be found, from primary up to secondary level, both public and private.
It’s not just the golden oldies of the area that make Wembley so sought after in the investment property market – new luxury apartment buildings are attracting first-time buyers to the area, both to occupy the units themselves, or to buy-to-let as an investment property.
Making Wembley even more enticing for buyers is the fact that the average property for sale sits at £413,167, which is 30.1% below the average cost of London apartments and homes of £590,935.
Renting or buying a house in Wembley
If you’re looking for a buy to let property that will hold your financial portfolio in good stead for years to come, or are seeking new property for sale in an area that still holds a warm, friendly village-like atmosphere complete with a countryside feel, then you need specialist estate agents on your side.
Strawberry Star Group will soon start development in Wembley, and we also have the expertise available to help you find the perfect property for sale in the area, or a rental property for your current lifestyle needs and budget. Get in touch with us today.