Regeneration projects often offer some of the most exciting places to buy in the capital; especially for first time buyers, where prices can be more affordable than comparable developments in more established locations.
New research from Hamptons shows that this tends to pay off financially in the long term too. On average, homeowners at regeneration schemes stay for 13.4 years before they sell – roughly six months longer than second-hand home sellers.
During that period, buyers see an average price growth of 54%, compared to 45% for new homes in well-established areas. This is even more pronounced in the capital, where regeneration schemes experience 15% more price growth compared with other new-builds.
We’ve rounded up some of the most exciting developments currently on the market, in neighbourhoods that are set to transform over the coming years – but already offer great opportunities for first-time buyers.
First up, Southmere is the first major milestone in Peabody’s ground-breaking regeneration of Thamesmead, delivering over 500 new homes alongside a public square and community library, shops and resident facilities.
Along with lakeside views to most homes, residents will have access to a concierge service, residents’ lounge, meeting rooms and workspaces. Set to become a buzzing hub at Thamesmead, Southmere is already well connected to the city, with the nearby Abbey Wood Overground station making London Bridge accessible in only 22 minutes and Crossrail links coming soon.
Over in Acton, L&Q at Acton Gardens is the award-winning regeneration of the South Acton Estate, being delivered by L&Q, one of the UK’s leading charitable housing associations, and Countryside Properties. One of the largest regeneration projects in London, the neighbourhood-friendly design places community integration at the forefront with a wide range of public facilities for residents – including several communal gardens, a new sports ground, and a shopping plaza.
Designed to be energy-efficient, homes at L&Q at Acton Gardens are fitted with solar panels and there is an on-site energy centre that will supply some of the development’s heat and power – reducing residents’ carbon footprint. Once complete, Acton Gardens will provide over 3,300 new homes – 50% of which will be affordable. Already a thriving, well-established community, L&Q are due to launch their latest phase of one and two-bedroom Shared Ownership apartments this Summer, with future releases to come.
Further out in West London, Catalyst is currently marketing a range of studio, one and two-bedroom apartments at ARRO, part of The Green Quarter in Southall. Transforming a district of Southall into a metropolis of greenery, ecology and culture, The Green Quarter is set to deliver over 3,700 new homes as well as 13 acres of new green space.
Apartments at ARRO are available exclusively through Shared Ownership, with deposits from just £3,344. Nearby Southall station is served by TfL Rail – offering a short journey to Ealing Broadway tube station and journeys to London Paddington in 17 minutes, with the imminent arrival of Crossrail due to make connections even better.
Shifting East, L&Q at Blackhorse View is a brand-new collection of 108 one and two-bedroom Shared Ownership apartments launching this summer in the creative and lively hub of Walthamstow. Forming part of the wider masterplan of the Blackhorse Lane regeneration area, residents will benefit from some 17,000 sq ft of new retail and commercial space.
The proposed plan will deliver an array of innovative community spaces, like Blackhorse Workshop, a newly rejuvenated warehouse that has been converted into a public workshop for local people.
These new facilities will add to the range of amenities already within walking distance of L&Q at Blackhorse view, such as popular destinations Wood Street Coffee and the Wildcard Brewery.
The development is also brilliantly located for commuting, with Zone 3 Blackhorse Road Underground Station opposite the site, positioned on the Victoria line.