LONDON BOROUGHS: Greenwich

• Greenwich attracts 18 million tourists yearly with its Royal Observatory and Maritime Greenwich World Heritage Site and vast Greenwich Park, besides characterful pubs and breweries. It has historic links with the British royal family and is also home to the O2 arena.

• The proximity to Canary Wharf -- and the related development opportunities -- is often overlooked. Greenwich has the second-lowest average house price in Inner London at £348,693. It had the sixth-highest average rate of house price growth last year in Inner London. Average rents increased 10.8% to £1,530pcm last year, the second-highest growth rate in Inner London.

• These increases reflect the scale of regeneration taking place in the area, notably Greenwich Peninsula. This scheme plans to provide 15,000 homes in the area around the O2 Arena. Other regenerations include Kidbrooke Village, part of a £1 billion scheme where town houses sell for more than £1 million, and Millennium Village.

• Prices have been aided by significant recent improvements in transport links. These include the DLR extension to Woolwich Arsenal and the Jubilee Line extension. Travel time to London Bridge is now 8 minutes, Waterloo Station (11 minutes), Green Park (15 minutes) and Bond Street (18 minutes). Besides The Thames Clipper also provides easy access to the West End.

• In September, there will be a 24-hour tube link on weekends to the borough. In 2018, two Crossrail stations will open in Woolwich Arsenal and Abbey Wood. CBRE research shows that both Woolwich and Abbey Wood will enjoy a drastic reduction in travel time, increasing property prices. Travel time from Abbey Wood to Heathrow will be cut by 40 minutes, and to Bond Street and Canary Wharf by around 20 minutes.

• Greenwich is becoming a serious commuter zone, which is expected to result in an annual uplift in house prices of 4.3% over and above wider house price growth.

Source: London living: A borough by borough showcase by CBRE

Source: CBRE London

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