In the past, people’s perception of London’s East End was a negative one. Their view of boroughs such as Shoreditch, Bethnal Green and Hackney was clouded by tales of the Kray twins, petty and organised crime and shabby housing.
The borough further to the east, Dagenham, also suffered from negative perceptions. Dagenham was a town built around the Ford factory.
However, this view of Dagenham, and the East End in general, is no longer relevant (if it ever was). Dagenham, like its inner London neighbours Hackney, Shoreditch and Bethnal Green, has changed dramatically in recent years, and continues to change. Those unfamiliar with Dagenham may be surprised when they discover the real face of Dagenham.
The real Dagenham
The London Borough of Barking and Dagenham can boast of 25 parks and open green spaces, with over 500 hectares of green belt, and many tree-lined streets. In addition to its wealth of open spaces, the borough also contains several equestrian centres and riding schools.
There is another factor which makes Dagenham an attractive place in which to live. The residents who live there all speak of a community spirit.
These are just some of the reasons why Dagenham is growing in stature. And if people want to live in Dagenham, this makes Dagenham a good place in which to invest.
A good place to invest
In October 2016, Barking and Dagenham enjoyed a rise in property prices of over 11% . This compares favourably with the average rise of 2.5% seen in the rest of the Greater London area.
Rental yields are also better in Dagenham when compared with some of the high-end markets. Dagenham yields are as high as 7% per annum. This is better than Knightsbridge, Mayfair, and Chelsea.
There are also further redevelopment plans in the pipeline for Dagenham.
The future is looking bright for Dagenham
There is an ambitious plan to build over 35,000 new homes within the next twenty years. This regeneration is expected to create 10,000 new jobs.
Transport links are also due to be updated. Dagenham already has good road, rail and underground links to London. These will be greatly improved when the Crossrail line begins operating from Chadwell Heath. Twelve trains and hour will take commuters directly into Liverpool Street in 25 minutes, while travelling time to Heathrow will be under an hour.
With London City Airport, Southend and Gatwick airports also within easy reach, Dagenham has excellent links to Europe and the rest of the world.
There are plans afoot to extend the DLR further east. This will provide a direct link to the City and help attract young professionals to the area.
Dagenham offers the best of both worlds: close proximity to London with the Essex countryside on its doorstep.
Get sound advice
Although Dagenham is without a doubt an excellent place to invest in, no one can really tell what the future will bring.
This is why shrewd investors looking for buy-to-let opportunities within the borough should seek the best advice available, especially if they are looking for a management service with no service charges or running costs and a rent guarantee scheme.