{"id":6029422,"date":"2020-02-12T13:15:21","date_gmt":"2020-02-12T13:15:21","guid":{"rendered":"https:\/\/www.buyassociation.co.uk\/?p=6029422"},"modified":"2020-02-12T13:15:21","modified_gmt":"2020-02-12T13:15:21","slug":"roaring-success-new-build-flat-sales-take-lions-share-london","status":"publish","type":"post","link":"https:\/\/www.buyassociationgroup.com\/en-au\/2020\/02\/12\/roaring-success-new-build-flat-sales-take-lions-share-london\/","title":{"rendered":"Roaring success of new-build flat sales take lion\u2019s share in London"},"content":{"rendered":"

New-build flats in London are the most popular when it comes to the number of property sales, but buyers can get more for their money further afield.<\/strong><\/p>\n

New-build specialist Stone Real Estate analysed last year\u2019s property transaction data across London. Its findings confirmed that flats rank highest at 93% for new-build<\/a> sales; terraced property sales achieved 4%, semi-detached 2%, and 1% of sales come under the detached category.<\/p>\n

Stone Real Estate\u2019s latest research has tried to identify where in London<\/a> you can buy big but still afford to buy a new-build property.<\/p>\n

Land plots thin on the ground<\/h4>\n

Stone Real Estate\u2019s founder and CEO Michael Stone comments: \u201cThe flat is the most prominent type of new-build property available in today\u2019s market<\/a>. Land plots and space are thin on the ground. Price also dictates this trend to a large extent, with many buyers unable to afford a larger property, so the flat enables the delivery of a more affordable option to meet demand.<\/p>\n

\u201cHowever, this popularity goes beyond supply and price point. Many new-build developments are delivering a lifestyle<\/a> in addition to the bricks and mortar, incorporating features such as onsite amenities, private gyms, cinema rooms and rooftop social areas.”<\/p><\/blockquote>\n

He adds: “All of these additional benefits resonate with today\u2019s new-build London buyer and this is helping to drive the popularity of these developments.\u201d<\/p>\n

Battle of the boroughs<\/h4>\n

In Barking and Dagenham, Barnet, Bexley, Brent and Bromley, 100% of new-builds sold during 2019 were flats, according to the research. Similarly, in Camden, Croydon, Westminster and the City of London, flats totalled 99% of new-build sales across the boroughs. However, the borough of Wandsworth breaks the pattern with 51% of its new-build sales coming from terraced properties last year – popular with buyers wanting a little more space<\/a> inside and out.<\/p>\n

Tower Hamlets (27%), Richmond (20%), Waltham Forest (20%), Sutton (18%), Redbridge (14%) and Merton (10%) also saw the number of new-build transactions attributed to terraced housing hit 10% or above of all transactions, making them good options to look further afield<\/a> than a flat.<\/p>\n

For semi-detached houses, buyers could look to Waltham Forest, which had a healthy 30% of all new-build sales last year in this category. Southwark (13%) and Sutton (10%) also proved to offer affordable semi-detached new-build availability. Southwark could be heading for the spotlight, as it was London\u2019s top performer in 2019 for having the highest volume of detached new-build sales at 14%.<\/p>\n

Lambeth (6%), Newham (5%) and Richmond (4%) also provided a new-build detached offering to a degree, while detached homes accounted for 1% of transactions in Sutton, Redbridge, Hillingdon, Lewisham and Hammersmith and Fulham.<\/p>\n

Greater returns from flats<\/h4>\n

The bottom line is, well the bottom line \u2013 space across the city is in short supply<\/a>, so building up makes sense.\u00a0 Housebuilders and developers are able to build more units and house more people, giving them a better return and greater profit from more homes.<\/p>\n

Michael Stone comments: \u201cThe beautiful thing about the London property market is the diverse offering of properties on offer.”<\/p><\/blockquote>\n

“While flats mainly dominate the new-build sector, there are still plenty of pockets where you can secure the quality<\/a> and value for money of a new-build home, but with a property size and style to suit you.”<\/p>\n","protected":false},"excerpt":{"rendered":"

New-build flats in London are the most popular when it comes to the number of property sales, but buyers can get more for their money further afield. New-build specialist Stone Real Estate analysed last year\u2019s property transaction data across London. Its findings confirmed that flats rank highest at 93% for new-build sales; terraced property sales… Read more »<\/a><\/p>\n","protected":false},"author":217,"featured_media":18111,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[12,6],"tags":[13,44],"acf":[],"_links":{"self":[{"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/posts\/6029422"}],"collection":[{"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/users\/217"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/comments?post=6029422"}],"version-history":[{"count":0,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/posts\/6029422\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/media\/18111"}],"wp:attachment":[{"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/media?parent=6029422"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/categories?post=6029422"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/tags?post=6029422"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}