With the Conservative Party conference taking place this week, there will be increased scrutiny on Brexit, what the government has in store and, inevitably, the potential effect on property prices, particularly those on new build homes in the capital.
Recent research from Savills looked at what has happened since the vote 23 June 2016 and what may be in store for London’s prime property market in the months and years ahead. Even before the referendum, London prices in the top end of the market had suffered due to the change in stamp duty structure from December 2014 an this year’s introduction of a surcharge for buyers of second and investment homes.
The uncertainty of what foreign ownership may entail when Britain leaves the EU has also cooled interest (Savill’s figures show 45% of new build sales in prime London in the first half of 2016 were to overseas buyers), though for high-end buyers, London remains strongly competitive with other major global cities (New York, Paris, Hong Kong) when it comes to residential property investment.
Overall, the Savills report from September 2016 says: “We anticipate broadly flat prices over the period of 2017 and 2018 as the UK government negotiates its exit from the EU. On the basis that London retains its position as a world city and global financial centre we expect the market to rebound from 2019, though the extent of that rebound is likely to be tempered by the underlying tax environment.”
How the top end affects the rest of London’s property market remains to be seen, though as our recent New Homes Debate on London Housing 2020 saw, there is a realisation from across the housebuilding industry that major changes in the supply of new homes are required quickly in order to start meeting the demands of ordinary Londoners, particularly in terms of affordability for those on modest incomes.
Here we choose our favourites of the best new build homes for sale across the capital, appealing to buyers within a range of budgets:
Enderby Wharf in Greenwich (Barratt London)
Cook House is the current phase available at Enderby Wharf, offering 104 studio, one-, two- and three-bedroom apartments, with the Help to Buy London scheme available on properties priced up to £600,000, requiring only a 5% deposit from the buyer.
There’s a typically contemporary look to this Barratt London development, which will comprise 770 new homes in all when completed. At Cook House, each home has floor-to-ceiling windows and private outdoor space, with west-facing views across the Thames towards Canary Wharf and the City providing a spectacular view of the London cityscape.
The development has 200 metres of riverfront and is placed between historic Greenwich and its world-famous heritage and comprehensive shopping and leisure options to the south and the O2 Arena and is entertainment choices just to the north.
Prices: From £425,000
Find out more about Enderby Wharf from Barratt London
Royal Albert Wharf in Royal Docks, Newham (Notting Hill Sales)
Waterside living is one of the major attractions for homebuyers in London, and this development combines a tranquil corner alongside the Thames with convenient proximity to Gallions Reach DLR station and its excellent connections to the rest of the Docklands and central London – along with the assistance of Help to Buy to make a purchase.
Simon Neary, head of sales and marketing at Notting Hill Sales, says: “We are delighted to offer the government-backed Help to Buy scheme at Royal Albert Wharf. The raising of the Help to Buy equity loan from 20% to 40% in London was a game-changer, enabling more buyers to get on the property ladder, especially in up-and-coming areas such as the Docklands.”
Royal Albert Wharf will deliver over 1,500 new homes alongside new garden squares, and a variety of community amenities including work space, cafés, bars and restaurants, a children’s play area and a crèche.
Prices: From £350,000
Find out more about Royal Albert Wharf from Notting Hill Sales
Wimbledon Hill Park in Wimbledon, Merton (Berkeley Homes)
Just a mile from Wimbledon Common Golf Club’s award-winning greens is Berkeley Homes’ prestigious Wimbledon Hill Park development. The stylish mix of apartments and townhouses boasts landscaped formal gardens, concierge services, a resident’s gym and a private cinema and boardroom facility.
A number of apartments are available on the current phase, Dukes Gardens, with another collection – Wellington Row – coming soon inside the conversion of one of Wimbledon's most renowned buildings, the former Atkinson Morley Hospital.
The sales and marketing suite is open daily from 10.00am to 6.00pm.
Prices: From £1.15m
Find out more about Wimbledon Hill Park from Berkeley Homes
The Quarry in Erith, Bexley (L&Q)
It’s an early time to make your interest in The Quarry known, as the development is not due for release until next year. It will provide at least 600 new homes and a state-of-the-art three form-entry primary school, which will itself bring 630 new school places to the town.
The design of the scheme will take into account the contours of the site, with layered platforms of homes interspersed with cycleways and footpaths. The site is surrounded by woodland, too, an will incorporate its own large conservation area, so an escape from the urban environment is easy.
Erith’s current easy journey into central London – a journey time of 30 minutes – with be enhanced by the addition of a Crossrail connection via nearby Abbey Wood from 2019.
Andrew Jay, group managing director at The Anderson Group, says: “Erith Quarry was integral to the local community for nearly two centuries but since quarrying ended in the 1960s it has lain neglected and become overgrown. We’re really excited to be working with L&Q to reimagine this vital piece of land at the heart of Erith into a sustainable neighbourhood which will deliver much needed new homes, green community spaces and a landmark primary school.”
Find out more at thequarryerith.co.uk
Jessop at New Providence Wharf in Poplar, Tower Hamlets (Genesis)
There are a selection of two-bedroom Shared Ownership apartments still for sale at this scheme, with a contemporary design and quality specification including full-height glazing, fully fitted kitchen with granite worktops, integrated Bosch including a dishwasher and washing machine and chic bathrooms.
This development is within walking distance of Canary Wharf and just a few stops on the Docklands Light Railway from Bank and Canning Town.
New Providence Wharf is becoming a destination in its own right, offering an array of eateries, bars and leisure facilities. Canary Wharf has three shopping centres offering a mix of high-end and High Street brands, and a range of places to eat and drink. Westfield Stratford and the O2 Arena are also very conveniently reached.
Prices: From £121,250 (25% share)
Find out more at www.genesishahomes.org.uk ; 020 3773 1509
Dockside in Coldharbour, Tower Hamlets (Bellway)
This development is just a quarter-of-an-hour on foot from Canary Wharf , with sweeping waterside views across the quay and offers one-, two- and three-bedroom apartments, all of which have a terrace or balcony. Residents have a concierge service to use, with a range of amenities and shops within a short radius of home.
Emma Denton, head of sales at Bellway Homes Thames Gateway, says: “Canary Wharf has really come into its own as a place to live and not just a place to work – it has a real energy and sense of opportunity, yet especially at the weekends, next to the water it can be a very peaceful place too. The lifestyle available at Dockside is the ultimate in convenient city living, perfect for those who want to take advantage of everything Canary Wharf has to offer at a competitive price tag.”
Crossharbour DLR station is just a three-minute walk from Dockside: from Canary Wharf, just three stops away, the Jubilee line offers services across London. Canary Wharf will be linked to Crossrail in 2018, speeding up travel across central London and offering direct links as far away as Essex and Berkshire.
Prices: From £394,995
Find out more at www.bellway.co.uk ; 0845 548 8032
Wardian London in Canary Wharf, Tower Hamlets (EcoWorld Ballymore)
Located only a three-minute walk from Cabot Square, the new homes here are situated in two tall towers rising to 50 and 55 storeys and include include suites, one- and two-bedroom apartments, and penthouses, with the first residents expected to move into their homes in 2019.
These botanically-inspired towers offer extensive private ‘sky gardens’, with every resident having their own tranquil oasis to escape to, and there are impressive views overlooking South Dock across Canary Wharf and the City. This inspiration is continued with ‘The Gardener’, a bespoke indoor and outdoor landscaping service, which will provide an assortment of plant packages and garden maintenance.
The development will also have a landscaped public plaza, a rooftop observatory bar, two restaurants and a 25-metre open-air swimming pool set within a flourishing tropical environment. The West Tower will also feature a four-storey large landscaped area.
Find out more at www.wardianlondon.com
Hampstead Manor in Hampstead, Camden (Mount Anvil)
The regeneration of Kidderpore Hall, a Greek revival mansion, and four other listed buildings is at the heart of this impressive development in one of London’s most-admired residential areas. Overall, the redevelopment project is creating 156 new homes, 31 of which are ‘affordable’, spread over 13 buildings.
The new homes come in many forms, including apartments and townhouses, appealing to a spectrum of requirements and budgets, with the first scheduled for completion at the end of 2017. There will also be 92 secure, underground car parking spaces.
Amenities on site will include a 24-hour concierge service and a Hampstead Manor town car service, which will run a timetable of service to nearby train and tube stations at peak and will be flexible to residents’ requirements at off-peak times. Residents can also use exclusive spa and gym facilities include a swimming pool, sauna, steam room, Jacuzzi and ‘experience shower’.
Prices: From £755,000
Find out more at www.hampsteadmanor.com ; 020 3582 5461
Acton Gardens in Ealing (L&Q)
Some 33 Shared Ownership apartments at were released at this development this month, one of west London’s largest regeneration projects, which will provide some 2,850 new homes across an urban village over the coming years – a 52-acre site costing some £600m in a joint venture between this developer and Countryside.
Cathy Lloyd, sales and marketing director at L&Q, says: “Acton is now positioned firmly on the property hotspot map, fuelled by increasing prices in nearby Chiswick and Ealing, and of course, the Crossrail effect. Shared Ownership homes at Acton Gardens offer first-time buyers a fantastic opportunity to get onto the housing ladder in a highly sought-after area, with a considerably smaller deposit required.”
Prices: From £105,000 (25% share)
Find out more at www.lqpricedin.co.uk ; 0844 406 9800