As the UK prepares for the EU referendum, there is a belief amongst some investors that if the UK were to exit, the UK property market will suffer from a financial perspective, and not be on the continual upward trend that it has experienced over the last 5 years.
Despite some recent negative articles about Nine Elms residential property market, the area is still significantly undervalued. The average asking price is currently around £1100 per square foot, and this is drastically less than nearby areas such as Pimlico or Westminster. The development of Battersea Power Station and the new US Embassy is testament that Nine Elms is receiving significant investment and this is set to continue up until 2020 and beyond.
Once Nine Elms starts to mature, and more and more Londoners learn about this exciting new area then demand will only increase and supply slowly start to fall as developments are completed. We expect prices in the area to increase around 30% by 2020.