Clerkenwell’s Housing Market and Transport links

As a landlord, you may be considering investing in Clerkenwell, one of London’s most vibrant neighbourhoods. With a rich history, a diverse community, and a prime location in Central London, Clerkenwell offers great potential for buy-to-let housing stock. Let’s take a closer look at what the area has to offer.

Residential Properties in Clerkenwell

Clerkenwell has a diverse range of residential properties, from studio flats to spacious houses. There are around 8,000 residential properties in Clerkenwell, with approximately 45% of them being one-bedroom flats, 35% being two-bedroom flats, and 10% being three-bedroom flats or houses. It’s important to consider the type and number of bedrooms when investing in buy-to-let property, as it can affect the rental yield and demand.

Renting vs. Owner-Occupier Rate 

In Clerkenwell, around 45% of residential properties are owner-occupied, while the remaining 55% are rented. This is a higher proportion of renters than the London average of 49%. The high number of renters is due to Clerkenwell’s popularity among young professionals and students, who are often looking for more flexible housing options.

Average House Prices 

Clerkenwell is known for its high property prices, with the average house price for a one-bedroom flat being around £580,000, a two-bedroom flat being around £870,000, and a three-bedroom house being around £1,600,000. These prices are higher than the London average, but it’s important to consider the potential rental yield when investing in buy-to-let property.

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Age of the Housing Stock 

Clerkenwell has a mix of old and new properties, with many Georgian and Victorian buildings alongside modern developments. Around 20% of the residential properties in Clerkenwell are new builds, which offer modern amenities and a higher rental yield. It’s important to consider the age of the housing stock when investing in buy-to-let property, as older properties may require more maintenance and repairs.

Major Housing Development Projects 

Clerkenwell has seen significant regeneration in recent years, with several major housing development projects underway, such as The Bower, The Denizen, and 250 City Road. These projects offer a mix of residential and commercial properties, as well as new public spaces and amenities. 

Transport Links

Clerkenwell is a well-connected area of London with a range of transport links providing easy access to different parts of the city. The area is served by several bus routes, including the 55, 63, 243, and 341, which run along major roads such as Clerkenwell Road and Farringdon Road. These buses provide links to destinations across London, including King’s Cross, Oxford Circus, and Waterloo.

Clerkenwell is also home to several tube stations, including Farringdon, Barbican, and Angel. Farringdon Station is a key transport hub, offering connections to the London Underground, National Rail, and Crossrail services. The station is also set to become a major interchange with the Elizabeth Line, providing even more transport options in the near future.

In addition to bus and tube services, Clerkenwell has several cycle routes and docking stations for the Santander Cycles bike sharing scheme. This makes it easy for residents and visitors to cycle around the area or to nearby destinations such as the City of London or Islington.

Conclusion 

Clerkenwell offers great potential for buy-to-let property investment, with a diverse range of residential properties, a high proportion of renters, and ongoing regeneration and development projects. By considering the type and number of bedrooms, the age of the housing stock, and the potential impact of major development projects, you can make a smart investment in this vibrant and sought-after area of London.

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