A few decades ago, Holloway was regarded as one of London’s less desirable locations. These days, (thanks to a major facelift), it’s now a property hotspot, and house prices have steadily risen in recent years.
If you’re considering investing in this area, now is a great time to do it. Here’s more information.
Holloway has already been transformed beyond recognition. However, there are still some streets that have yet to be improved, and it’s probable that they’ll be earmarked for regeneration in the future. This will inevitably push property values even higher. The removal of Holloway Prison has also positively impacted house prices, and the area’s proximity to Islington is an additional bonus.
It’s always a good sign when developers invest in an area. The redevelopment of Arsenal Stadium brought 2,200 new homes to Holloway, and Barrett Homes have also been active in recent years, creating 300 properties just opposite the new stadium.
Holloway is fantastically multicultural, and appeals to people of all ages. London Metropolitan University has a campus here too, which means there are plenty of students seeking accommodation. If you’re considering investing for buy-to-let purposes, it’s useful to know that tenant demand is high in this area, and its anticipated to remain that way for the foreseeable future.
This location is getting a reputation for attracting forward-thinking, trendy businesses, such as Zia Lucia (a pizzeria) and The Spoke, which describes itself as ‘specifically bike-friendly’. Companies like these attract tenants and homebuyers in their droves, so it’s worthwhile investing now, before property prices climb even higher.
One of Holloway’s major draws is the transport links. It’s served by numerous tube stations, such as Caledonian Road, Holloway Road, Arsenal, Archway and more. There are also overground train services running from Highbury & Islington to Dalston Junction / Stratford, and from Upper Holloway to Barking; and frequent bus services, which take residents all over the city.
There are some excellent schools in and around Holloway, which continue to rate highly in Ofsted inspections. This is great news for investors, as families are often willing to pay a premium to live near a highly regarded school. Key secondary schools to be aware of are The Camden School for Girls, Highbury Fields School, and Parliament Hill School. Likewise, St John’s Highbury and Grafton School are both high-performing primary schools.
The government’s stamp duty cut is another great reason to invest sooner rather than later. The temporary removal of stamp duty tax on properties costing less than £500,000 could save you thousands, and it’s certainly an offer to make the most of. Be aware though, this tax holiday only runs until March 31st, 2021. After this time, normal stamp duty rates will kick back in for all properties priced £125,000 or more.
(Photo credit: Banalities)
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