Housebuilder Sees The Growth Of Newham
There are few places which epitomise the growth of East London more so than the largest borough in the area, Newham. The borough is one of the capital’s fastest growing hotspots, with house prices rising by 90% over the last decade (Savills report April 2020) and set to increase by a further 17% by 2024 (Knight Frank forecast).
This is fuelled by a growing amount of investment from businesses – including the £1.7billion being spent on the Asia Business Park, billed as London’s third business and financial district. To top it off, it’s now been agreed that it isn’t just new companies and new residents flocking to the area. Late this year, with the move of City Hall, Newham will also become London’s new political centre.
Responding to this growth are plans for high-quality developments for the area, with the industry’s premium housebuilders looking to make their mark and join the exciting regeneration.
“Newham is undoubtedly an area on the rise,” said Sean Gavin, operations director at Berkeley South East London. “Fuelled by public and private investment, it will be one of the engines of the capital’s economic recovery as we all look forward to life beyond the pandemic.”
“Not only is it predicted to grow significantly faster economically than the rest of London, the upcoming relocation of City Hall to the Royal Docks will make it a political centre. As well as this, with theatres set to be built, as well as new museum the V&A East, the cultural diversity of Newham is only going to continue its expansion.”
A prime example of these developments is Berkeley’s own TwelveTrees Park – a 3,838-home project which began construction late last year. Offering a mix of studios, one-, two- and three-bedroom homes and properties available under Shared Ownership, TwelveTrees Park aims to offer something for everyone. However, at the heart of its design is not only a desire to attract more residents to the area, but to keep them there with a wide range of amenities and community benefits. It aims to capture the new, aspirational kind of urban living: creating a green development for residents to enjoy while they continue seeing the benefits of city life.
Gavin explained: “TwelveTrees Park enables people to live connected: to London and beyond with fantastic transport links; to nature with over 50% of the site dedicated to green space; to neighbours through a strong community focus; and to the wider world, via a fully WiFi-enabled park epitomising the connectivity ambitions of the London Plan”.
In keeping with the desire to set the benchmark for future living, TwelveTrees Park has health and wellbeing at the heart of its design. Particularly after the events of the past year, the importance of living with green space on your doorstep has been accentuated in the minds of potential buyers.
Also linked to the theme of wellbeing is the ease with which residents can have a local social life and are able to connect with those around them. This is aided at TwelveTrees Park through a variety of on-site amenities. Facilities such as shops, restaurants and bars will create a real buzz and support a vibrant, positive atmosphere. After a year and a half of having these amenities taken away, or at best limited, this is another requirement that is at the forefront of buyer priorities.
This kind of modern development will undoubtedly continue to boost the popularity of the key growth areas of London. Much has been made over the past year of an exodus to the countryside, but there is still a strong demand for living in cities. Younger people especially have missed socialising and seeing others, and London still represents a centre for culture, sport and entertainment. The end of the office has also been exaggerated – they are still important spaces for the exchange of ideas and to develop working relationships. In fact, the BBC has reported that the top 50 UK employers are all planning to retain office space, though working for many will be flexible.
Businesses, workers and politics can bring economic growth to areas such as Newham, but the real prize is in attracting residents and offering them the incentives they need to live, work and, ultimately stay, becoming an integral part of the local area. Plans for TwelveTrees Park show clearly how this can be achieved – putting the needs of residents first so they truly consider Newham their home. If this continues, the borough will continue to grow and thrive.
Find out more about TwelveTrees Park from Berkeley Homes.
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