Great Reasons to Move to Bloomsbury
Bloomsbury is an excellent London neighbourhood to consider if you are thinking of moving to somewhere in central London. This area has long been a favourite with students and intellectuals and is popular with creative thinkers, authors, and investors. It has been the home of several politicians, scientists, and authors including Karl Marx, Charles Darwin, and Virginia Woolf. Today, Bloomsbury is a popular residential area for students and professionals alike and is best known for the massive and world-famous British Museum. It is home to several academic institutions including Birkbeck College, the London School of Hygiene and Tropical Medicine, RADA drama school, and the University of London Library.
Bloomsbury Property Prices – Why Live Here?
Bloomsbury might be an area that is at the top of your list if you are thinking about moving to the city of London. It is well-known for being one of the nicest areas to live in the capital with stunning garden squares, fantastic literary connections, and plenty of educational options. Whether you are an academic, professional, or student looking for a new place to live, Bloomsbury has a lot to offer for those who prefer intellectual activities over partying.
What’s Available for the Average House Price in Bloomsbury Square?
There are several different homes available in Bloomsbury, with something for every type of buyer. You can find a selection of eighteenth- and twentieth-century homes surrounded by gorgeous leafy green squares and a great location close to Regent’s Park, which is the second-largest green space in London and helps to make Bloomsbury feel like it’s not quite located in the centre of a capital city. Along with the walking and cycling trails and sporting activities that are available in Regent’s Park, Bloomsbury also has excellent transport links for those who need or want to get into the wider London areas, with great bus connections and access to both Russell Square and Euston Square stations in short walking distance.
What’s the Average House Price in Bloomsbury Square?
Over the past year, properties in Bloomsbury have sold for an average price of just over £880,000. In Bloomsbury, flats and apartments made up the majority of sales over the past year, selling at an average price of just over £700,000. Terraced properties are much higher in value, selling for an average of over £3m, while semi-detached houses came in cheaper at just over £2,300,000. Overall, house prices in Bloomsbury over the past year were up 8% on the year previous, and quite similar to the peak of £879,279 in 2017. Some flats in the area sell at the lower end of the scale, with prices around £200,000 – £300,000. On the upper end of the scale, a terraced house on Great James Street sold for over £5m in September last year.
What Do You Get for the Average Property Price in Bloomsbury?
Bloomsbury is definitely worth the price as it’s well-known for being one of the nicest areas in London. It has very low crime rates and is considered to be a safe place to live that’s suitable for anybody. It is located close to the central areas of London, meaning that the area benefits from tourist hotels in the nearby area that are often busy and well-lit, acting as a key deterrent for crime.
Bloomsbury offers the best of both worlds if you want to live in the centre of London but prefer an area that is greener and quieter. Despite being located right in the middle of central London, it has a different vibe to many other areas in the city and offers plenty of quieter and more intellectual things to do such as museums, bookshops, and independent cafes and coffee shops. If you do feel like going for a night out or catching a show in the vibrant West End, getting there is easy due to the excellent transport links, with most of London accessible in a very short amount of time.
Are House Prices in Bloomsbury London Good for the Area?
An average of £800,000 is quite good for a central London area. This makes Bloomsbury a hugely popular investment spot and there are several rental properties available that are ideal for students and professionals alike. In comparison, the average property price for other central London areas such as Marylebone is currently standing at over £1m. The area also benefits from Regent’s Park, a green space that often helps to raise property values in London with more buyers looking to find properties that are closer to nature and offer them a quiet retreat away from the city.
Are Bloomsbury Property Prices Expected to Rise or Fall?
The current circumstances in the UK are having a huge impact on the London property market, including properties for sale in Bloomsbury. While it’s impossible to tell what might happen in the future, the current stamp duty holiday that has been put in place to support the housing market during the COVID19 crisis has led to an influx of buyers in London looking to take advantage of the discount, which has led to an increase in house prices in the area, along with many others around the UK. However, house prices are expected to fall in line with the reduced demand once the stamp duty holiday comes to a complete end in September 2021. For some buyers, particularly first-time buyers in London, waiting until the end of September might be a wise move to make to take advantage of what is expected to be lower house prices across the capital and in the UK in general due to the drop in demand.
If you are looking to buy a property in central London, Bloomsbury could offer an ideal choice. This is a quiet and beautiful area with a lot of academic and literary connections, close proximity to Regent’s Park, many nearby things to do, and excellent transport connections into the rest of the city. If you want to live in London but prefer a quieter life, Bloomsbury could be the best choice of area.