Welcome to the property hotspot of Tower Hamlets

31 August 2017

Last year Tower Hamlets was named as having one of the fastest-growing populations in the UK.  According to the local authority at the time, the population of Tower Hamlets is projected to reach 355,400 by 2024.

Suzie Dunsmith, Head of the Population Projections Unit at the Office for National Statistics, stated: “All regions of England are projected to see an increase in their population size over the next decade, with London, the East of England and South-East projected to grow faster

than the country as a whole.”

In April, Tower Hamlets was reported to be the sixth most popular hotspot for young professionals.  With an average property asking price lower than other London Boroughs but still offering the same or similar attractions, it’s no wonder our area made the Lloyds Bank list.

Lloyds Bank Mortgage Products Director, Andrew Mason, said: “Aspiring young professionals are typically well qualified, in well paid jobs, and tend to live in areas not far from the city centre where they work.  These are also places where they can enjoy easy access to green space and a range of places to socialise.”

There are many positive changes happening throughout our borough to support this influx of young professionals and others moving into the area.  The council have recently announced the roll out of free WiFi in town centres.  The first phase is set to launch in autumn 2018 and is expected to benefit over 800 businesses.

Mayor of Tower Hamlets, John Biggs, said: “The internet plays such a big part in life these days that not being connected can be a major barrier, not only to accessing services and jobs but to keeping up with what’s going on in the world.”

With many people working on the go, this has to be a boost to the attraction of living in Tower Hamlets.

For those who have thought about starting a business of their own, you will be excited to learn that a new centre has opened to support local small businesses and start-ups.  Based at the former Royal Mail depot on Whitechapel Road in Whitechapel, they are offering a number of services from start-up courses and cheap working spaces, to studios and pods to rent.

As we at Franklyn James continue to help those who want to move into this vibrant area, we celebrate all the many exciting projects that continue to pop up across the borough and specifically within the Docklands.

There is no better time to come and see what Tower Hamlets has to offer; we know you’ll be pleasantly surprised by what you find.  Call us today to start your next adventure.

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