John East Director, KFH Land and New Homes, looks at the ways developers are attracting discerning buyers
The new homes market has started well in 2019. Our experience suggests that first time buyers are placing a greater emphasis on proximity to transport and shops. The combined effect of demand for convenience from buyers, and the desire for town regeneration by local authorities, is seeing previously unnoticed pockets of land being utilised for development. This is also having a positive impact on the appearance of the local street scene.
According to National House Building Council, property buyers are choosing new-build homes for minimum maintenance, well designed living space, quality of the immediate neighbourhood and energy efficiency. Providing homes which are highly energy efficient will mean lower bills whatever the budget range. To meet the increased immediate demand, some developers are working hard to get their homes advanced before releasing them to the market so that they are ready for occupation in the shortest time possible. In addition, Help to Buy London continues to support builders seeking better access routes to work by local transport, and also to those cycling.
We are due to launch new developments in Kingston this spring, which will provide good quality one, two and three bedroom apartments in convenient locations. These are only 25 minutes from Waterloo, Tooting and Walworth, the latter of which are served by the Northern Line. The developers understand the needs and requirements of buyers, and have reflected this in the specification provided. Finding a good balance between high-quality and affordability is an ongoing challenge for developers, as they look to take the best approach possible to attract discerning buyers.
Despite the uplift in planning applications, the shortfall in housebuilding continues. To combat this, developers are looking at building up and increasing floor levels on existing office buildings allocated for permitted development. It is clear that local residents do not want their local area to be overshadowed by ever increasing skylines, so planning departments will have to strike the right balance between an improved outlook and provision of more homes. Such a scheme is soon to be underway in Bromley where, unusually, parking will also be provided for every apartment.
The Victory, Walworth, SE17
A limited selection of one and two bedroom apartments now available to buy at The Victory, Walworth. The Victory is a high-quality conversion of a local landmark building, offering a charming Victorian façade, and only a stone’s throw from Elephant and Castle train station. Now available with London Help to Buy, with prices ranging from £390,000 for a one bedroom apartment to £525,000 for a two bedroom apartment.