To sell or not to sell, that is the question? I have had an influx of Landlords approaching me recently as their rental investments come up for renewal and asking if the time is right to sell now in Canary Wharf?
My answer is clear; it really depends on your personal situation. Yes it’s true that prices are at an all-time high, with figures for the area now way in excess of those realised back in the hey days of 2007. So yes if you need to move your cash into another project, if your circumstances dictate that you sell up now, then there really is not much to think about as although we will see a little growth over the next 12 months I certainly don’t believe it will be anything like the growth we have seen over the last 18 months. In the short term it will be a slow and safe progression. In contrast however I do think that if you don’t need to sell anytime soon then don’t. Looking ahead to the next 3-5 years in the area there are clear indications that we will see further growth on your capital investment. Canary Wharf has always been this little micro climate of its own and I am confident that with all the new vast redevelopment that is being rolled out within the area over the next few years it will only impact your property investments in the best possible way. With the arrival of Crossrail in 2018 and yes I know this is being bantered around rather a lot of late but you really do need to sit up and take notice of the impact that this exciting new transportation will have on the area. Canary Wharf to Heathrow in 39 mins, yes 39 mins! Canary Wharf to Bond Street in 13 mins. Up to 24 trains per hour will operate in the central section between Paddington and Whitechapel during peak periods, with each train able to carry 1,500 passengers. An estimated 200 million people will travel on Crossrail each year. With this extraordinary new infrastructure Canary Wharf already the financial hub of the city and now an extremely exciting place to live will be catapulted into new realms resulting in a rocket in property prices. So hang in there if you can, you will not regret it.