Demand for Canary Wharf likely to soar

25th October 2013

Property in London remains attractive to homebuyers and investors alike, with Canary Wharf in particular looking likely to see significant price movements in the near future.

The Financial Times reported earlier this year that the area will “come of age”, when it soon replaces the City as the biggest employer of bankers in Europe. Loxley Mackenzie, managing director of property investor Colordarcy said this is bound to “stimulate demand for properties close to places of work”, adding that “many of those employed in the banking sector will be looking to rent rather than buy and this brings an opportunity for investors who may be looking for the higher than average yields that can be found in this area.” Canary Wharf lies in Tower Hamlets one of the top ten fastest-growing boroughs in the capital for rents, and high demand has seen annual increases of up to £1,000.

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