New homes snapshot – London Borough of Bromley
Posted 18 February 2016 by Keith Osborne
Once part of Kent, Bromley was subsumed into Greater London in the mide-1960s to become the capital’s largest borough by area, with a high proportion of green belt land meaning it retains some of the character of its pre-Metropolitan days.
The London Borough of Bromley includes Bromley town as well as areas such as Crystal Palace, Chislehurst, Biggin Hill, Bickley and Orpington. The National Rail network weaves through the borough providing a wealth of fast and regular connections to the centre of the capital, primarily via London Bridge and London Victoria, reinforcing its appeal to commuters.
Families are attracted by the pleasant suburban feel of much of the borough, its many green open spaces and some highly regarded schools. Last year, two of Bromley’s schools received a coveted World Class School Quality Mark from Ofsted, above and beyond its traditional ‘outstanding’ status for the best schools. Just 18 state schools in the UK were given the award last year, underlining the exceptional nature of the standards Darrick Wood School in Orpington and Hayes School achieve.
The latest London Plan has set a target of around 640 new homes a year for the borough, considerably higher than the original target, reflecting the increased demand for property in the capital. Bromley’s diversity is reflected in the new homes currently on the market, with a wide range of property types available, from low-cost entry-level homes for first-time buyers, to luxury executive homes and purpose-built retirement apartments.
According to Land Registry figures from January 2016, reflecting property transactions to the end of 2015, average Bromley property prices rose 10.3% last year, to £421,189. This puts the borough roughly in the middle of the ‘league table’ for the capital.
With the launch of the Help to Buy London scheme this year, buyers looking for a brand new home priced up to £600,000 can now get an equity loan from the government for up to 40% of the property value if they can muster a 5% deposit. Outside of the scheme, the average deposit in the capital is estimated at £72,000, from Council of Mortgage Lenders figures, so the benefits are considerable for those struggling to save such a large sum.
New homes for sale in Bromley now or coming soon:
Sundridge Park won a WhatHouse? Award for Best Luxury Development for developer Millgate in 2015. This luxury scheme of townhouses, apartments and detached homes set in an historic, landscaped setting. Prices start at £695,000 and the show home is open seven days a week.
Off Orpington High Street is Brunswick Square, an apartment scheme from multi-award-winning Berkeley Homes. The one- and two-bedroom properties are priced from £295,000 and are perfect for commuters, within an easy walk of the station, where fast services take just 18 minutes into London Bridge.
There are 50 dedicated retirement living apartments at Atkins Lodge in Orpington, from specialist developer Churchill. These thoughtfully designed properties are within a few minutes of the High Street and adjacent Walnuts Shopping Centre. Prices start at £281,950.
There has been a keen response to the offer of Shared Ownership homes at Hyde New Homes’ Regent’s Place on Ringers Road, Bromley. The development has a selection of one- and two-bedroom apartments, with prices starting at £85,950 for a 30% share of a one-bedroom property with a full market value of £286,500. A selection of wheelchair adaptable apartments are also available.
Scheduled for autumn of 2016 is The Rising Sun, a mixed-use development featuring 16 two-bedroom apartments at Elmers End, near Beckenham, from McCulloch Homes. The contemporary design also has a commercial space with parking.
Viewings are now taking place for two five-bedroom semi-detached homes on Queensway, Petts Wood, from local developer Skillcrown Homes. Agent JDM is dealing with potential buyers for these properties, which are within a few minutes of the station and priced from £750,000.