Canary Wharf’s Housing Market and Transport links
Canary Wharf offers a high volume and diverse range of residential properties available for rent, including 1, 2, and 3 bedroom flats and houses, making it a desirable location for buy-to-let investors. The volume and price of these types of properties is higher than the average in London.
The housing stock in Canary Wharf is relatively new, with a high number of new build properties. This is important to consider when investing in a buy-to-let property, as new builds often require less maintenance and may have a higher potential rental income.
The average price for a 1 bedroom flat in Canary Wharf is around £560,000, while the average price for a 2 bedroom flat is around £824,000. These prices are significantly higher than the average prices for similar properties in London, which are around £450,000 for a 1 bedroom flat and £600,000 for a 2 bedroom flat. This is due to Canary Wharf’s prime location and high demand for properties in the area
There are several major housing development projects currently underway in Canary Wharf. Some notable ones include Wood Wharf, a mixed-use development that will include 3,000 new homes, and Goodluck Hope, which will feature over 1,500 new homes. To find out more about these and other major housing developments in Canary Wharf, visit the Canary Wharf Group’s website.
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Canary Wharf is known for its excellent transport links, with several major train stations located in the area. The biggest station is Canary Wharf station which is served by the Jubilee line, DLR and London Overground. This is in addition to Heron Quays and West India Quay stations which are also located nearby and serviced by the DLR. This is a significant advantage compared to the London average, as many other areas may only have one or two train stations in close proximity.
Commute times in Canary Wharf are relatively quick, with many residents able to reach central London in under 15 minutes via the Jubilee line. This is significantly faster than the average commute time in London, which can often be upwards of 30 minutes. Additionally, Canary Wharf is well connected to other areas of London via the DLR, making it easy for residents to travel to other parts of the city.
Traffic conditions in Canary Wharf are generally less congested than the average in London. This is due in part to the many public transportation options available in the area, as well as the fact that many residents walk or cycle to work. Additionally, the area is relatively pedestrian-friendly, with many amenities in close proximity, reducing the need for residents to rely on cars.
Canary Wharf offers excellent transport links, with several major train stations, fast commute times, and relatively low traffic congestion compared to the average in London. These factors make it an attractive location for buy-to-let investments and can have a positive impact on potential rental income.
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