International property buyers advised to choose location carefully

    International buyers looking at the London residential housing market should do their homework carefully as they could be nearly 12% better off by buying in certain locations, it is claimed.

    Research produced by international mortgage specialists Offshoreonline has highlighted the importance of careful choice for overseas buyers thinking of investing in the still buoyant London housing market. Over the last 12 months, according to data from the UK Land Registry, buyers who did their homework carefully could be nearly 12% better off simply by paying more attention to where they bought.

    The Islington effect which seems to have been a feature of the market since Tony Blair left the Borough in 1997 continues to have a significant impact on average London house prices, with values there rising by 8.5% in the past 12 months and 1.4% in May alone.

    At the other end of the scale, if you had bought in Bexley in South East London, over the last year you would have seen the value of your investment slip by 3.4%, The largest monthly fall however was in Redbridge, which is just a short distance from the Olympic Park, a hot spot for buy to lets, if the estate agents are to be believed.