510 New High Rises planned in London
When I saw the headline 510 new tall towers on Mansion Global, my first reaction was that it meant 510 new flats (condos). Then I read it more carefully and realised that it referred to 510 new buildings, each of at last 20 floors.
As an example of how gentrification expands residential markets for the affluent (while decreasing options for the less affluent), some 50% of the planned developments are scheduled in East London, an area known until recent years more for Cockneys and Jack the Ripper than for champagne and BMWs.
And the other message is that expanding transportation, especially new train lines and stations, changes residential markets. The Docklands Light Railway opened in 1987 and the Elizabeth Line is scheduled to open later this year.
If you – or somebody you know – are considering buying or selling a home and have questions about the market and/or current home prices, please contact Andrew Oliver on 617.834.8205 or Kathleen Murphy on 603.498.6817.
If you are looking to buy, we will contact you immediately when a house that meets your needs is available. In this market you need to have somebody looking after your interests.
Are you thinking about selling? Read Which broker should I choose to sell my house?
Andrew Oliver and Kathleen Murphy are Realtors with Sagan Harborside Sotheby’s International Realty. Each Office Is Independently Owned and Operated