The March figures from the Land Registry, published at the end of April, show a slow growth for London property prices at 0.2% from February, though the annual appreciation of 13.9% is higher than other in England and Wales. The average London property now sits at £534,785, compared to the national figure of £189,901.
Within the capital, the borough of Lewisham saw the greatest annual rise, at 19.9%, while the prime area of Kensington & Chelsea saw the smallest increase over 12 months, at 4.2%, somewhat under the national average of 6.7%.
From February to March, the north-west borough of Brent saw the biggest increase (up 2.8%) while Hammersmith & Fulham saw an average price decrease of 1.3%.
Reacting to the figures, Andrew Bridges, managing director of London estate agency Stirling Ackroyd says: “House prices across the country may be coasting in neutral, but the capital is speeding ahead. London’s lead is getting larger and the demand for life in the fast lane shows no sign of letting up.
“Such momentum in London also comes despite a few road bumps. Stamp duty surcharges have caused a slight slowdown at the top end of the market and particularly in the west of the capital. Gears are grinding in old ‘prime’ areas such as Kensington & Chelsea and Hammersmith & Fulham. And builders are touching the brakes on new homes in these old heartlands. Yet other parts of London are moving up the field to compensate. The new champions of the London property market are areas further east and further out.”
Here we pick our favourite new builds across a range of boroughs, with some priced well below the current London average…
Trafalgar House at Battersea Reach in Clapham Junction, Wandsworth (Notting Hill Sales)
Situated between Wandsworth Old Town and bustling Clapham Junction, this development offers an opportunity to live in one of London’s liveliest neighbourhoods in a more affordable way, thanks to the government-backed Shared Ownership scheme.
Trafalgar House at Battersea Reach not only provides high-quality housing, it also benefits from several lifestyle amenities, including the aptly named 24-hour gym, Gym and Tonic, a business centre, nursery and a round-the-clock, on-site concierge service.
There will also be four acres of landscaped gardens and courtyards as well as a waterfront bar and eatery, a Hudson’s grocery store and a patisserie. The bus and rail links from nearby Clapham Junction station are unsurpassed in the capital, making the area a good base for work and play across London.
Prices: From £182,000 (40% share)
Find out more about Trafalgar House at Battersea Reach from Notting Hill Sales
Avedis in South Ruislip, Hillingdon (Bellway)
A selection of one-, two- and three-bedroom apartments is coming soon to Avedis, the comprehensive regeneration of the former Arla Dairy site. There will be 163 new homes in all, along with an Asda supermarket, 11-screen multiplex and a handful of new family-themed restaurants.
Oliver Weston, Development Surveyor at Citygrove Securities, who manages the overall site, comments: “This site was vacant for many years and needed to be brought back into active use to benefit local residents. The leisure facilities will provide opportunities for families to eat, shop and watch a movie without having to travel further afield.”
Nearby leisure facilities include Queensmead Sports Centre, Highgrove Leisure Centre, Ruislip Golf Course and West London Golf Centre and Avedis is located just a few minutes’ walk from South Ruislip tube and rail station, under 40 minutes from The City and with connections to Wembley Stadium and London Marylebone.
Help to Buy is available on some homes.
Prices: From £374,995
Find out more at www.bellway.co.uk ; 0333 202 5170
The Mount in Mill Hill, Barnet (Countryside Annington)
The developer is now selling executive townhouses off-plan, all featuring outdoor spaces including balconies and terraces, with 29 three- and four bedroom executive townhouses available in this part of popular Millbrook Park. Each features outdoor spaces such as private balconies and terraces and the brand new homes overlook attractive landscaped and tree-lined areas.
Tony Travers, director of Countryside Annington, says: “Homebuyers who want a semi-rural location will get the best of both views of the rural countryside and the suburban community from the rooftop terraces of these executive townhouses. These types of homes remain a popular choice with families and we are confident that these home styles will sell out fast in Mill Hill.”
The properties are set in an elevated position with panoramic sweeping views of central London in one direction and Hertfordshire countryside in the other. Mill Hill East Tube station is less than one mile away and within easy walking distance.
Prices: From £980,000
Find out more at www.themount-millbrookpark.co.uk ; 020 8371 9269
Wembley Park Gate in Wembley, Brent (Barratt London)
This development is located moments from Wembley Park Tube station, which offers fast connections into the centre of the capital via the Metropolitan and Jubilee lines.
On the doorstep are the iconic Wembley Stadium and a major regeneration success, the London Designer Outlet, which offers clothes and houseware brands at heavily discounted prices, which sits alongside a range of bars, restaurants, cafés and also a supermarket and cinema complex. The SSE Arena is nearby too, and this year a new theatre is also opening.
Each home at Wembley Park Gate features a private balcony - some with views of the stadium, some with views over the capital and beyond.
Off-plan purchasers can choose from a range of options to personalise their home and the proposals for the development include an on-site communal garden for residents, a gym, a convenience store and concierge service.
Prices: From £390,000
Find out more about Wembley Park Gate from Barratt London
Nine Elms Point in Battersea, Wandsworth (Affinity Sutton)
This affordable homes provider has recently launched a collection of contemporary one-bedroom apartments which require a deposit of as little as £5,688 when bought through the Shared Ownership scheme, with a selection of two- and three-bedroom apartments also available soon.
The apartments will appeal to a range of buyers from singles or couples to young families. Each features private outside space and residents can also enjoy a communal ‘podium’ garden.
Nine Elms is undergoing huge redevelopment, giving new life to an area that is close to a wide variety of excellent amenities, including a range of shops and places to eat, much-loved Battersea Park and a new linear park that will run the length of the district.
Vauxhall station is just a five-minute walk away from this development and there will be a new Nine Elms underground station, scheduled to complete in 2020 along with a flagship Sainsbury’s supermarket.
Prices: From £113,750 (25% share)
Find out more at www.affinitysutton.com ; 0300 100 0303
London City Island in Tower Hamlets (EcoWorld Ballymore)
Within the last two weeks, the developer has released a new batch of 58 apartments for sale at this development on the Leamouth Peninsula. London City Island, set against the backdrop of The O2, Canary Wharf and the City, will eventually see 1,700 new homes built, set among a host of new public spaces. The new phase includes suites (studios) as well as one-, two-, three- and four-bedroom units.
From nearby Canning Town station, there is a wealth of connectivity via Tube, and DLR into The City, Docklands and the West End.
John Mulryan, UK managing director of the Ballymore Group, says: “The arrival of The London Film School at London City Island resonates strongly with our ethos of creating a destination which embraces culture and supports the arts. The London Film School is renowned for supporting emerging creative talent and engaging directly with the vibrant UK screen industries.
“Their presence furthers the development’s creative credentials and supports our aspiration to offer unique living experiences at each and every development.”
Prices: From £365,000
Find out more at www.londoncityisland.com
The Ram Quarter in Wandsworth (Greenland Group)
First completions are due from next year at this development, which is transforming the former Young’s brewery site in the heart of Wandsworth town. In all, it will provide 661 new homes with a landmark residential tower and significant space dedicated to new shops, cafés, bars and restaurants.
In addition to the brand new creations, many heritage buildings will also be restored, one of which will house a micro-brewery within The Ram Heritage Centre, which will continue a beer-making history on the site dating back nearly 500 years. The new homes will be complemented by new access to the River Wandle, with a footbridge across it and a new riverside walk.
The first phase of the development will include 312 studio, one-, two-, three- and four-bedroom apartments and duplexes across six new buildings, peppered with public open spaces and shared gardens.
There will be 248 underground car parking spaces available for separate purchase.
Prices: From £485,000
Find out more at www.theramquarter.com
Anthology Deptford Foundry in Deptford, Lewisham (Anthology)
This is the first release from this fledgling developer, but nevertheless a significant project in this heritage-rich part of south-east London, offering several blocks of low-rise one-, two- and three-bedroom apartments just a few minutes’ walk from the Zone 2 station. The new homes are open for sale from 20 May.
The marketing suite offers a traditional model of the development as well as an impressive, interactive “virtual” version, allowing buyers to find the property they want within a 3D wire-frame. There’s also a show apartment for house-hunters to tour and see the impressive specification first-hand.
Ben Allen, project director at Anthology says: “Deptford is establishing itself as a destination that other London boroughs will find difficult to rival. In a diverse location, with great connections to the city, interest is brewing and homes are expected to prove popular.”
Mark Dickinson, the developer’s managing director, adds: ““We are very excited to reveal our homes to the market. We have thought carefully to ensure that the buying process is innovative and engaging for our customers. Young professionals and investors are likely to make up a large proportion of our customers, attracted by the hard-to-beat commuter connections and a fantastic location.”
Price: From £345,000
Find out more at anthology.london ; 020 7526 9229
The Maple Building in Kentish Town, Camden (Linton Group)
This conversion of a former furniture factory into a luxury development of 57 one-, two- and three-bedroom apartments and penthouses is the first in the area from boutique developer, the Linton Group.
The company has refurbished and restored the late-Victorian building and added new storeys for the penthouse properties. There is lift access to every floor, with the premium apartments and penthouses also benefitting from residents parking.
Ranging from about 450 sq ft to 2,000 sq ft, the new homes have been designed and specified with a distinctive style and are complemented by a spacious Art Deco-style reception area, where the development’s 24-hour concierge is based. Natural light floods in to every home from numerous large Crittal windows, enhanced by the high ceilings inherited from the building’s original use.
The ground and lower ground floors will incorporate a mixture of commercial and leisure space, which will include a privately managed gym open to the public.
Prices: From £525,000
Find out more at www.themaplebuilding.com ; 020 3811 1315