With property in Brent – once called London’s “drive-by shooting capital” – leading the jump in city property prices, real estate investors should consider ‘down and out’ areas, says investment expert, Rick Otton
Buying property in ‘down and out’ areas can pay off, says a high-profile property investment expert.
With demand for London housing booming, prices in areas including Brent, once dubbed the city’s the “drive-by shooting capital” have been rising faster than in the up-market areas of Chelsea, Westminster, and Knightsbridge, even shocking agents at their climb.
Real estate investment expert, Rick Otton, says as London’s population continues to grow and housing demand rises, “down and out” areas can become more appealing.
“We’ve seen this happen before. And it will always be a fact of life. The real estate market works as any other market: supply and demand. When there is a shortage of housing people are forced to snap up what they need despite it being perhaps less desirable. This forces prices upward, and is what we are seeing in Brent.”