Last month saw Mayor of London Sadiq Khan use ‘call-in’ powers on new homes development for the first time, approving schemes previously rejected by the local council.
The development in question is in Harrow and will see 186 new homes built in the Palmerston Road area. Located near Harrow & Wealdstone Tube station, the scheme will include 41% of home for Shared Ownership and affordable rent.
This was soon followed by a similar move on a scheme in Tottenham. The first plans for Hale Wharf had just 9% of homes allocated to the ‘affordable’ sector, but the revised plans from City Hall saw that increased to over 35%. Now, 176 of the 505 homes in the scheme will be designated to initiatives for people who cannot afford open market prices.
Khan said: “Fixing London’s housing crisis will be a marathon, not a sprint. I’m clear that if we’re to deliver the genuinely affordable homes Londoners urgently need, we have to explore all options for development across the capital. This will mean we’re going to see suburbs and town centres becoming denser and development increasing near stations. I called in these schemes to subject them to further scrutiny. My planners are to be commended for bringing these applications to the public hearing stage much faster than under the previous Mayor.”
At the other end of the market, the latest research from Savills says prices in the prime sector in London are “bottoming out”, with a fall of -0.3% in Q1 2017 compared to -2.2% in Q4 2016. With revisions to the structure of stamp duty and the EU referendum last year, average falls are -6.1% from the peak of the market in 2014.
“Brexit uncertainty has compounded the cooling effect of stamp duty, but it now looks as though values are finding their level and where asking prices reflect this, buyers are coming back into the market,” says Lucian Cook, head of UK residential research at Savills. “However high levels of over-priced stock remain in the market, some still pegged to peak values, suggesting we have probably not yet seen the end of asking price cuts.And though it looks as though the bulk of value falls are behind us, with Article 50… triggered…, we expect the market to ebb and flow for the next two years, in step with the news agenda.”
The WhatHouse? team picks our top new build homes for sale in London across a wide budget range:
Colindale Gardens in Colindale, Barnet (Redrow Homes)
This £1bn regeneration scheme of the Peel Centre, once the Metropolitan Police training college, is estimated to take 11 years to complete and will bring an impressive collection of 2,900 new homes to the area in addition to a primary school for 600 pupils, a residents’ gym, new shops and cafés, and a network of cycleways and footpaths. The first homes on this 49-acre site are expected to be completed this summer/autumn.
Currently available is a mix of two-, three- and four-bedroom apartments from The Park Collection, as the name suggests overlooking a new park. There’s a great specification for each home, and a number of options to personalise the home if you buy early, and each apartment also has its own private outdoor space too.
The marketing suite and show home are open seven days a week: from 11.00am to 5.00pm Sundays; from 10.00am to 6.00pm Monday, Tuesday and Thursday to Saturday; and 10.00am to 8.00pm on Wednesdays.
Prices: From £345,000
Find out more about Redrow’s new homes for sale in the London Borough of Barnet
Roxborough House in Harrow-on-the-Hill, Harrow (Generation Land)
A former office block is being transformed into 32 luxury apartments by this developer. Just seven minutes on foot from Harrow-on-the-Hill rail and Tube station (with services on Chiltern, Metropolitan and Jubilee lines, and close to the shops and amenities of the town centre, this development gives buyers a choice of one- and two-bedroom properties, with the outside of the building given contemporary render/brick/steel features to complement the up-to-date interior specification with high-gloss kitchen units, Bosch appliances and stylish bathrooms.
With the properties set to launch on 8 April, Alex Telford, managing director of Generation Land, says: “This is a hugely exciting project for us in an area that has been previously overlooked by many. We aim to create homes that are of exceptional quality and when compared to similar schemes in other areas of London, Roxborough House represents great value for money for first-time buyers looking to get themselves on the property ladder, with no compromise on the level of finish.”
Daniel Southgate, director at selling agents Brian Cox & Co., adds: “We imagine that the homes will appeal particularly to young professionals and families, with the location also ideal for those working in the local area – such as medical staff at nearby Northwick Park Hospital, for example. We expect that there will also be interest from buy-to-let investors seeking strong yields.”
Prices: From £325,000
Find out more at roxboroughhouse.com ; 020 8912 0006 (Brian Cox & Co.)
The Maples in Hampton Wick, Richmond (Kebbell Homes)
This boutique development of six family houses and four apartments has two show homes to give buyers the chance to see the build quality and specification for themselves.
One is a four-bedroom house laid out over three floors, which has a price tag of £1.535m, the other is a two-bedroom duplex apartment. All houses have at least two parking spaces, all apartments have one. This development is located on Upper Teddington Road, providing convenient access to Hampton Wick station, the shops of Kingston-upon-Thames, and the open spaces of Bushy Park. There are a number of excellent state and private schools in the area.
Andrea Fawell, sales and marketing manager at Kebbell Homes, says of the show house: “This beautiful home is perfect for modern individuals and families alike, and you really have to see to believe it so I would encourage homebuyers to visit sooner rather than later! Homebuyers will enjoy the benefits of the superb location and cosmopolitan lifestyle at Hampton Wick. With fantastic commuter links, this development is also perfect for the busy professional.”
Show homes are open from 10.00am to 5.00pm, Thursday to Monday.
Prices: From £595,000
Find out more at www.kebbell.co.uk ; 020 8428 6221
St Andrew’s Park in Uxbridge, Hillingdon (St Modwen Homes)
Buyer interest in this development is keen, with eight homes reserved in the first weekend of release. The availability of the Help to Buy London scheme is a big attraction, as are the six bespoke house designs that have been unveiled at the site, including the three-storey ‘Lincoln’. With a Gold at the WhatHouse? Awards 2016, this housebuilder already has a reputation for innovation and quality in design.
Bev Hall, sales and marketing director at St. Modwen Homes, says: “We’re incredibly pleased with the reaction we’ve had at St. Andrew’s Park so far. It’s our most prestigious development to date so it was fantastic to see people queuing from 4.30am on the day of the launch to secure their preferred plot. Buying a home in Greater London may seem like an impossible task but by using Help to Buy it can be easier than you think; it’s great to see so many of our purchasers making the most of the 5% deposits available.”
This scheme is part of a larger development to bring 1,300 to the area on the former RAF Uxbridge site, as well as a museum, theatre, restaurant and new employment opportunities. A 32-acre park and primary school have already been completed there.
Visitors are invited to see the site from 10.00am to 5.30pm, Thursday to Monday.
Prices: From £388,995
Find out more at www.stmodwenhomes.co.uk ; 0844 243 4560
Battersea Place in Battersea, Wandsworth (LifeCare Residences)
The last few one-, two- and three-bedroom apartments are steadily selling at this luxurious retirement development, the first to combine a sought-after central London location with a comprehensive care system and some first-class amenities.
Situated at the edge of Battersea Park, and with many apartments boasting views across the cityscape of the capital, residents here not only have high-specification homes in which to lead an independent life, they also share an array of excellent facilities: a tranquil, landscaped courtyard garden; gym and swimming pool; a-la-carte restaurant; bar/café; cinema room; billiard room; and library and lounge.
The is also a guest apartment for visitors to use and a range of cars for chauffeur-driven access to wherever the resident wants to go. A concierge takes care of services at home, giving the development a luxury hotel feel.
Prices from £649,950
Find out more at www.lifecareresidences.co.uk ; 020 7228 6939
Elmbank in Barnet (Linden Homes)
The housebuilder saw a great purchaser response to the first phase of this scheme, as it all sold off-plan, and it has now released the second phase, the Cedar Collection, early, offering six four-bedroom semi-detached houses, with three different layouts and each coming with private gardens and parking..
Early buyers have the opportunity to change or upgrade the standard specification to personalise their home with their choice of tiles, flooring, kitchen finishes, and appliances.
Simon Pendlebury, sales and marketing director at Linden Homes Chiltern, says: “Looking over open green space, The Cedar Collection at Elmbank are situated in an exclusive position on the development. This aspect along with the spacious living and the enviable community of the area make for the ideal family homes. Buying off-plan is a great way to tailor your new home to your choice and also watching the build progress is exciting. Linden Homes is also currently paying stamp duty, saving house-hunters up to £52,750 on selected homes within The Cedar Collection.”
The sales and marketing suite at the development is open daily from 10.00am to 5.00pm.
Prices: From £1.05m
Find out more about The Cedar Collection at Elmbank from Linden Homes
Hampstead Reach in Golders Green, Camden (Glentree New Homes/Barratt London)
This landmark development is in one of north London’s most coveted addresses and a stone’s throw from The Bishop’s Avenue, home to some of the UK’s most expensive premium homes.
Hampstead Reach with comprise 39 luxury apartments and five seven-bedroom houses, all designed with careful regard to the Arts & Crafts style of the local area, with red bricks and handmade roof tiles among many heritage features, along with generous room sizes, wooden flooring and large windows. The first completions are due in summer 2017.
There will be a landscape courtyard garden at the centre of the scheme, where properties will also be smattered with numerous up-to-date details, such as comfort cooling, underfloor heating, CCTV and fittings by Grohe, Miele, Phillipe Starck and Siemens.
Karen Morris, associate director at selling agent Glentree New Homes, says: “We very rarely market contemporary homes within such close proximity of the historic Hampstead Garden Suburb and we expect Hampstead Reach to prove popular with buyers keen to take advantage of the luxury fittings, ease of living and lateral dimensions offered by a modern home, which nonetheless exudes architectural charm.”
Prices: From £995,000
Find out more about Hampstead Reach from Barratt London
Lennard Road in Croydon (Family Mosaic)
Following a surge in demand at the development, only three three-bedroom apartments remain for sale here through the government-backed Shared Ownership scheme, three-bedroom units are available starting from £117,000 for a minimum 30% share (£390,000 full market value).
The properties are equally good choices for young or old buyers who are unable to purchase a home on the open market to get their first foot on the property ladder.
Lennard Road is in West Croydon and sits right in the centre of what is now one of London’s best-performing property hotspots. All the apartments at this scheme come with their own private balcony and cashmere-coloured kitchen units by Price Kitchens, equipped with Zanussi integrated appliances.
These homes are only a four-minute walk away from West Croydon train station, which offers a range of transport services to London Victoria, London Bridge, Highbury & Islington and further afield.
Prices: From £117,000 (30% share)
Find out more at www.familymosaicsales.co.uk ; 020 7089 1315
Parkside Place in Wembley, Brent (Countryside Partnerships)
Located opposite the historic Barham Park and Wembley High Street, the apartments at this development offer generous space (for example, one-bedroom apartments at around 581 sq ft and between 722 to 859 sq ft for two-bedroom apartments) and each has a private balcony or terrace. There are also three-bedroom duplexes and houses, broadening the appeal to even more buyers.
The newly released Primrose, Regent and Kensington Buildings have been designed around an attractive communal landscaped podium garden, a great residents-only amenity for all seasons, while those in Kensington Building also have access to a private courtyard. All apartments have a great interior specification, with integrated appliances to their fitted kitchens, master bedrooms with floor-to-ceiling built-in wardrobes and contemporary bathrooms/en suites, while parking is available for those that need it, at an extra charge.
Help to Buy London is available at Parkside Place, open to first-time buyers and those with a home to sell, and requiring just a 5% deposit, with the government providing a 40% equity loan, so buyers need to find just a 55% mortgage.
Sudbury Town tube station on the Piccadilly line is just a five-minute walk away from this development, with links to both central London and Heathrow Airport. Tune and National Rail services can be reached at Wembley Central.
Prices: From £350,000
Find out more at www.parkside-place.net ; 020 8904 6523
Millbrook Park in Mill Hill, Barnet (Genesis)
These Shared Ownership properties launch on Saturday 8 April and priority will be given to those living and/or working already within the London Borough of Barnet. Just seven homes will be released for buyers to purchase with as little as 25% as an initial share, the balance being covered by a subsidised rent. Owners can extend their share (‘staircasing’) at a later date when their budget allows.
Buyers will have a choice of two-bedroom apartments and three-bedroom townhouses at this development, where a number of housebuilders are working to regenerate the former Inglis Army Barracks site, with hundreds of new homes and public open spaces being created over the 83-acre area.
There are far-reaching views across the capital from this development, while Mill Hill Broadway is just two miles away.
Prices: From £125,500 (25% shared)
Find out more at www.genesishahomes.org.uk