3 bedroom flats in London in short supply

Flats in E5, flats in NW6, flats in SW8, whichever postcode you search in the Capital, there appears to be a chronic shortage of houses and flats in London.

There is a particular scarcity as far as larger 3 bedroom flats in London are concerned, due to the insufficient volume of family housing in the city. Many families tend to opt for 3 bedroom flats, as they are generally cheaper than 3 bedroom houses in London, where property prices are sky-high.

Yet instead of increasing the supply of flats in E5, NW6, or SW8, among other areas, the signs are that the supply of new build homes, including 3 bedroom flats in London, will virtually grind to a halt in the short-term, due to government cuts. This is despite the fact that house building levels are currently at an 80-year low.

A new report which has been released by The National Housing Federation says that the number of new affordable housing being built this year could slump by a whopping 65 per cent with all housebuilding, including private developer construction, drastically decreasing. Funding cuts and changes to the planning system by the government mean that just 20,390 new homes are scheduled to be built nationwide in 2010.

This means fewer 1, 2 and 3 bedroom flats in London. Which means less flats in E5, NW6, SW8, and so forth.

Bob Weston, head of Weston Homes, says: “With grants and funding for the RSLs [Registered Social Landlords] being drastically cut back… housing associations will not be able to place affordable housing with private developers unless the government is flexible about revisiting the housing association element and [housing] schemes will be mothballed or just not start."

Weston believes that all these cuts and changes are likely to have a “catastrophic impact on the housing market”. This will naturally reduce the supply of 1, 2, and most importantly, 3 bedroom flats in London – most urgently needed by families.

To reduce the supply of much needed 1, 2, and 3 bedroom flats in London is not the way to handle lengthy housing lists consisting of millions of people. This is not the way to assist more people and families currently priced out of buying 1, 2, and 3 bedroom flats, in their efforts buy flats in E5, NW6, SW8, and wherever else in the Capital.
Fortunately, there are still some new 3 bedroom flats being built, including flats in E5, NW6 and SW8, and their surrounding areas.

A2dominion has released a collection of new flats near E5, as part of a new build development called Indigo in Hackney. The project features a delightful selection of homes, including much needed 3 bedroom flats in London. These flats start from £365,000 to buy.

Vision Homes has also released a number of new flats in E5, as part of its Paradise Park project, which offers some of the most striking 1, 2, and 3 bedroom flats in London, These E5 flats start from £189,950 to buy.

Some of the newest 3 bedroom flats in London are located in Fortune Green, NW6, where a new build home development has just been completed. Designed by award winning architect Piers Gough of CZWG, this long awaited development features some of the latest 1, 2 and 3 bedroom flats in London, many with balconies, and others with wrap around terraces overlooking Fortune Green. Prices start from around £395,000.

Berkeley Homes has released some new 3 bedroom flats at its Chelsea Bridge Wharf development in SW8. The residential project benefits from a prime Central London location, with various leisure facilities, innovatively designed for refined city living. These 3 bedroom flats in London start from around £750,000.

Despite the new build homes currently being constructed and made available to buy, it cannot be denied that more new build houses and flats are needed, particularly 3 bedroom flats in London.

- Author Calvin Jesse

View Source: Paradise Park – 3 bedroom flats London & Flats E5

New Flats in Clapton Ideal for First Time Buyers

Flats in Clapton, among other parts of the London Borough of Hackney, are perfect for people seeking to escape the hustle and bustle of Prime Central London, but remain within close proximity to the City, if the recent Clapton flat and house market trend is anything to go by.

New build property developments featuring houses and flats in Clapton and other parts of Hackney are proving highly popular with people buying houses and flats. Clapton, like much of Hackney and the wider parts of East London, has seen a real gentrification in recent years, thanks partly to the area’s successful bid to host the Olympic Games in 2012.

Owning houses and flats in Clapton is generally popular due to the residential nature of the area, not to mention its commutable distance to London. There are excellent transport connections with further improvements from the North & East London Line extensions. Kings Cross is accessible in 10 minutes.

However, buying competition for houses and flats in Clapton and the wider Hackney area has intensified in recent months, as more property investors move into the area, in anticipation of greater property price growth and higher rents, in the run-up to the Olympic Games.

According to property portfolio management service the Young Group, a staggering nine out of 10 buy-to-let landlords in the capital believe the value of homes in the city will increase over the course of the next year or hold steady for the remainder of 2010.

Property values in Hackney, and particularly prices of houses and flats in Clapton are tipped to rise, due to the construction of the Olympic Village on the other side of the Lea Valley. Some investors believe that parts of Clapton could match the success of other improved areas, such as Victoria Park within the next few years.

Spacious family homes, such as Victorian terraces and large flat conversions, tend to dominate the Clapton area, but more new Clapton flats are being built in order to help overcome the supply-demand imbalance of houses and flats in Clapton, and the wider Hackney area.

Following a flurry of sales of new build flats in Clapton and bordering areas in recent months, new home developers have been falling over themselves to release fresh waves of new build houses and flats in Clapton and its surrounding areas. This has been necessary in order to meet the increasing demand for houses and flats in Clapton and its nearby districts.

Housebuilder Berkeley Homes has released a selection of one- two- and three-bedroom flats and penthouses with balconies or terraces in a development called City Waterside, overlooking the New River and providing views across the West Reservoir and the City beyond. The new flats are part of the Woodberry Park project in Hackney. Each flat has been carefully considered to ensure that each benefits from their own outside space along with a high specification throughout. Prices start from £214,950.

Vision Homes has released a number of new Clapton flats, as part of its Paradise Park project. The two-acre site built around the former Paradise Dock, has raised residential architecture to a new level, certainly as far as flats in Clapton are concerned. The Clapton flats project features 132 homes in total. These new flats in Clapton start from £189,950.

A2dominion has released a collection of new flats, as part of a new build development called Indigo - a highly distinctive landmark building - in the midst of Hackney's renowned conservation area. Indigo offers a collection of one-, two- and three-bedroom stylish flats that appeal to both trendy Londoners and young families alike. Indigo is minutes away from ultra-trendy Shoreditch and Hoxton. Flats start from £365,000.

The recent improvement in Hackney and Clapton in particular, is a genuine success story, as a consequence of London’s successful bid to host the Olympic Games in 2012. As a result, new build Clapton flats are now among the most sought after in East London.

- Author Calvin Jesse

View Source: Paradise Park – East London Property

Hackney Property Market: High Demand for Homes in Hackney

The Hackney property market is reaping the benefits from the progress made on the London 2012 Olympic Games' legacy over the past year. Whether it is house hunting for a house or flat in Hackney, homebuyer demand for Hackney homes is at an historic high.

London 2012, which has been billed as the regeneration Games, is having an enormously positive impact on the Hackney property market, with the area being transformed dramatically.

Since it was awarded the Olympics five years ago, various promises have been made about how the Games will transform the lives of east Londoners, and those who own homes in Hackney and its surrounding areas.

Many new home developers have moved into the Hackney property market in order to build more new and improved homes in Hackney, with housing output reflecting the fact that most homebuyers want to buy a flat in Hackney – largely due to price constraints.

Hackney homes have appreciated at a rapid pace in the past 18 months. Across Hackney, property prices have improved.

Yet, prime Hackney property prices remain among the cheapest in London, which appeals to many homebuyers, particularly first-time buyers seeking to get a foot onto the housing ladder.

Hackney homes, mainly flats, appeal to first-time buyers, because many Hackney properties fall under the stamp duty threshold of £250,000 – a saving of up to £2,500 (one per cent of the purchase price).

In fact, Hackney is the cheapest borough for prime real estate in London, suggesting plenty of room for growth.

In recent weeks more Hackney property owners have rushed to join the market (17.5 per cent more Hackney homes on the market in the past month) in an attempt to cash in on further anticipated price rises in the Hackney homes market following the relaunch of the East London Overground line, among other improvements in the area.

Nevertheless, there is still an imbalance between the supply and demand of homes in Hackney, as far as both houses and flats in Hackney are concerned.

Consequently, more new home developers have started construction work on a number of new homes in Hackney in response to an increase in Hackney property sales enquiries.
Hackney Homes on the Market

Berkeley Homes has started building work on Woodberry Park - City Waterside. The first block to be released on this waterside development provides a mix of 1, 2 and 3 bedroom hackney flats and penthouses, with prices starting from £239,950.

Part of one of the largest regeneration projects in the UK, each new Hackney flat, certainly as far as this Hackney property development is concerned, has been carefully considered to ensure that each benefits from their own outside space along with a high specification throughout.

Circle Anglia has launched a selection of two bedroom homes in Hackney on Kenninghall Road. Each Hackney flat has been redecorated throughout. They are conveniently located for Rectory Road and Clapton Rail Stations. Local amenities are just a short walk way. Each Hackney flat offers spacious living quarters. These Hackney properties are on the market for £250,000.

Elsewhere, Vision Homes has launched a Hackney property development called Paradise Park – a riverside scheme featuring a selection of exclusive 1, 2 & 3 bedroom Hackney homes, located near Clapton station. The scheme also consists of additional social housing, around 10,000 square feet of office buildings and an underground car park.

These stylish Hackney flats are surrounded by parkland and run alongside the River Lea, making them ideal for a wide range of people seeking to buy a home in Hackney. These Hackney properties start from £189,950.

Meanwhile, Taylor Wimpey is building Amhurst Corner, one of the finest Hackney property developments of spacious 1, 2, 3 and 4 bedroom flats Hackney has to offer and close to Stoke Newington.

These Hackney homes have a superb specification including a built-in single oven, hob and cooker hood, plus a freestanding fridge/freezer, white downlighters to specific rooms, gas heating and heated chrome towel rails. Prices in this striking development start from £199,950.

With a wide range of homes in Hackney to choose from, house hunting in the Hackney property market is not for the fainthearted.

- Author Calvin Jesse

View Source: Paradise Park – New Homes Development – Homes Hackney

East London Properties: New houses & apartments prove popular

With the East London property market on the road to recovery, buying houses and apartments in East London is proving fashionable again.

More homebuyers and property investors are looking to invest in the East London property market, where in just two years time the 2012 Olympic Games will get underway.

The transformation of East London is well and truly under way. In addition to the progress being made on the sports venues and games facilities, developers are building a number of new houses and East London apartments. Meanwhile, various transport infrastructural improvements are making good progress.

Make no mistake, the East London property market is currently one of the UK’s top property hotspots.

Yet the supply of East London properties is still falling short of growing demand, due to the fact that more people are looking for houses and apartments in East London to buy.

With most East London property developers reporting a high volume of forward sales, often before ground has even broken on new build homes, house builders are competing for more land upon which to build more East London properties, particularly apartments.

The lack of East London properties – both houses and apartments – along with increasing property prices is a cause for concern for many people, as they are being priced out of the East London property market.

Two-thirds of parents with children living at home believe their offspring will not be able to afford to live locally when they leave home, due to the property shortage and high residential prices, according to a new report by the Chartered Institute of Housing.

Stewart Baseley of the Home Builders Federation, said: “House building is vital to the economy. We already have a housing shortage [nationwide] approaching a million and are building less than any time since 1923.”

The recent Emergency Budget announcement by the Coalition government is unlikely to do much to increase the supply of East London properties – neither houses nor apartments – after the Chancellor George Osborne unveiled the largest package of tax increases and spending cuts in a generation.

The National Housing Federation (NHF) estimates that the housing budget could be cut by up to 32 per cent over four years.

The new build homes sector plays a big part in the East London property market today, ensuring that more people are housed and are able to get a foot on the housing ladder.
But the well documented shortage of East London properties is increasing property prices in the region, which are now nearing the 2007 peak. This means that houses and apartments in East London also constitute rather shrewd property investments.

But besides buying houses and apartments in East London at the right time, people need to buy in the right location from developers with a good track record.


East London properties – Highlights

Berkeley Homes is currently building 250 new East London apartments in an appealing waterside development called Caspian Wharf located at Limehouse Cut. Additional penthouse apartments offer views of the Olympic Park to the North. Prices range from £172,500 to £1.1 million.

In Stratford itself, Thornsett Group's eye-catching contemporary design of its luxury Lett Road housing scheme makes it one of the more unique East London property developments. Purchasers have a choice of apartments with one, two and three bedrooms as well as three penthouses at the top of the 12-storey block. Property prices here start from £185,000.

Paradise Park, a two-acre site built around the former Paradise Dock, is being built by Vision Homes. The development offers a selection of East London apartments, including 77 private apartments, 55 social apartments, around 10,000 square feet of office buildings and an underground car park.

All the new East London apartments at Paradise Park will conform to the London Plan’s demands for 20 per cent renewable energy, and will incorporate a centralised heating system, green roofs, and a large area of solar photovoltaic panels.

Elsewhere, Genesis Homes is currently offering 78 one-and two-bedroom East London properties at their Fairfield Quarter development just a few minutes from Bow Church station. Built in five separate residential blocks, the scheme features some of the most affordable East London apartments, with 25 per cent home share costing from £41,000.

When buying houses or apartments in East London, always ensure that you stay informed with all market trends by continuously analysing and researching the East London property market sector, as this will simplify the process of buying property in East London.

- Author Calvin Jesse

View Source: Paradise Park – New Homes Development – East London Apartments

Flats in Hackney East London attract strong demand

Flats in Hackney East London, have been growing increasingly popular, ever since Stratford, located in East London, was awarded the rights to host the Olympic Games in 2012.

Houses and flats in Hackney and surrounding East London areas have long appealed to a wide range of buyers, from first-time buyers to families.

But over the past few years, a growing number of homebuyers, including property investors, have had one eye cast on the East London housing market, with a view to investing in houses and flats across East London.

Residential demand has been particularly strong among prospective entrepreneurs who have identified the big investment opportunities that houses and flats in East London potentially have to offer, thanks to the marked improvements currently being undertaken in places like Hackney, Stratford and the Docklands.

Housebuilders such as Fairview Homes, George Wimpey and Vision Homes have responded to greater demand for property in East London, by constructing more new flats in the East London area.

There are now a number of contemporary houses and flats either under construction or recently completed, including flats in Hackney, Stratford and Dalston. Most of these East London flats are available to buy or rent, while other flats have been made available for social housing.

Some of the most popular residential developments in East London featuring new flats and houses are Metro East, SoBow, Paradise Park, One Stratford and Icona.

One Stratford is a good example of a contemporary development of new East London flats which has proved popular with homebuyers. The new flats offer a well considered design, meet eco-standards and have a high quality finish.

Elsewhere in East London, Hackney flats are attracting particular attention from homebuyers. Flats in Hackney have been well-liked by many people due to the fact that Hackney is located within close proximity to Central London, via tube, and the new Olympic site in Stratford.

Paradise Park, a two-acre site built around the former Paradise Dock, has raised residential architecture to a new level, certainly as far as flats in Hackney are concerned.

The Hackey development project features 77 private flats, 55 social flats, around 10,000 square feet of office buildings and an underground car park.

The new Hackney flats will also conform to the London Plan’s demands for 20 per cent renewable energy, and will incorporate a centralised heating system, green roofs, and a large area of solar and photovoltaic panels.

Although a number of new houses and flats in East London have come onto the market in recent years, the general supply in Hackney, among some other East London areas, has failed to keep apace with demand.

Most houses and flats across East London, including flats in Hackney, have appreciated significantly in value over the past year or so, largely due to the shortage of houses and flats on the market.

This has made the prospect of investing in some East London flats a highly profitable venture, particularly as far as Hackney is concerned.

Nationwide’s latest house price index reveals that average house and flat prices in this country increased by 10.5 per cent in April, compared to the corresponding month in 2009.

The greatest property price rises in the past year have been recorded in Prime Central London, along with some of the regeneration areas of East London. Yet, houses and flats in East London appear to offer sustainable room for future capital appreciation, largely due to an imbalance in the supply and demand for flats, especially in Hackney and its surrounding areas.

With the National Housing Federation projecting that under 123,000 new houses and flats will be built in England and Wales in 2009/10, the lowest level since 1923, those areas that attract the greatest residential demand, such as Hackney, along with the wider East London area, will inevitably achieve the greatest capital growth over the next few years.

To buy 1 bedroom flats in London or 2 bedroom flats in London?

Whether to look at 1 bedroom flats or 2 bedroom flats when looking to buy a home in London will inevitably depend on the size of your budget.

Prospective homebuyers, who may have been thinking about buying 2 bedroom flats in London, may now have to settle for looking at 1 bedroom flats in London, because against all the odds, residential property values are increasing once again and nowhere more so than in London.

The average price of a typical home in London is now £336,409, following a 13% annual rise in prices, according to the latest data released by the Land Registry. This represents a hike of tens of thousands of pounds in just one year – literally the difference between being able to afford to buy 1 bedroom flats in London or 2 bedroom flats in London.

Spare a thought for unfortunate first time property buyers hoping to step onto the property ladder. The fact that prices are generally improving is disappointing for those who hoped that the recent market slump would bring the price of buying a home to within their grasp. This is particularly the case in the capital, with the price of 1 and 2 bedroom flats in London - typically greatest in demand among first-time buyers – having soared across much of the city.

Property price rises have primarily been fuelled by an acute shortage of houses and flats, particularly in London, in relation to growing demand.

A recent RICS UK Housing Market Survey revealed that there has been a rise in enquiries for homes to buy, while a post election bounce is expected as vendor activity picks up.

Various incentives including, the recent abolishment of home information packs and an increase in the stamp duty threshold for first-time buyers from £125,000 to £250,000 has further fuelled demand for homes, particularly for 1 bedroom flats in London and 2 bedroom flats in London. This is because many properties in this size category now fall under the stamp duty threshold for first-time buyers, saving them up to £2,500 – 1 per cent of the purchase price.

Greater demand for houses and flats in London illustrates the need for more new build homes in the capital. However, there is help at hand, with house builders responding to an increase in sales enquiries, by starting to develop more new homes:


1 bedroom flats in London:

1 bedroom flats at Images in Ilford, Greater London, a stylish new property development, start from £175,000. This chic contemporary development is located near Gants Hill Underground Station, in North East London.

1 bedroom flats at Paradise Park, a unique new homes development in Hackney East London comprising 1, 2 & 3 bedroom flats, start from £189,950. This stylish, distinctive development, ideally suited for young couples and families, is surrounded by parkland and runs along side the River Lea, just a mile from the new Olympic park. 2 bedroom flats, incidentally, start from £249,950.

2 bedroom flats in London:

2 bedroom flats at Ridgemount in Mill Hill, North West London, a collection of 2 bedroom, two bathroom flats, within a landscaped setting, all featuring private outdoor living space, start from £330,000

2 bedroom flats at Air, a new build property development on Finchley Road, North West London, start from £525000. The development features balconies and terraces, with a lift to all floors. Finchley Road underground station is located nearby.

Buoyed by spring optimism and greater purchasing activity, many housing surveyors expect both property sales and house prices to improve further over the next few months, which may continue to widen the gap between supply and demand.

If you are looking to buy a flat in London, surely now is the time to make your move.