Don’t Judge a Book by its Cover – Judge it by its price range


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Don’t judge a book by its cover- judge it by its price range

When it comes to house prices, location is always a factor. Occasionally it’s one of the key elements when it comes to your budget, and can be the difference between having a small flat in a less desirable location, or an even smaller flat in a location you really love.

It’s especially true with cities like London, where areas are like teenagers trying to work out their own unique style. They have mood swings, dress themselves up, dress themselves down, and refuse to stay constant. It’s the way cities evolve, but it can be a headache for people trying to find a place on a budget.

Something as simple as a nearby college can evolve an area, as students pour money to pubs and rented accommodation as well as benefiting the art scene. With a little more money under its belt, the area starts to improve. Cafes open, as well as independent shops, and soon an area like Hackney, which even ten years ago was seen as more run down than artistic, has sky-rocketed in rental prices by up to 9%, and has a higher average rent than areas like Wandsworth in South-West London.

This isn’t the first time an area has changed from a cheap area, ready for the bohemian market, to a growingly exclusive one, ready mainly for the rich.

The 1960’s documentary ‘The London Nobody Knows’, by Norman Cohen, shows Spitalfields at the time was a destitute, poverty stricken hub with abandoned buildings, poor health and high crime. Despite this, there was a community there, and the artist souls, attracted by the low rent were willing to take the plunge and breath life back in to a dying area. It was patched up with art exhibitions, cafes, and most importantly the feel of something special and inventive. East London is beginning to have the same makeover, and with it comes a fee, and a tip as well.

This won’t be the last time an area in London will evolve, and with the increase in prices in some hubs, there’ll be an inevitable decrease in others. As young, inspired and inventive new workers search for cheap and lively neighbourhoods to call home, the areas we may now turn our nose up at, could become gentrified to an extent where only the wealthy will be able to live there.

To learn more about saving money on estate agents fees when selling your home click here

Click here to pick up some top tips for spotting an up and coming area to buy your new home

 

Harriet Blake


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