Stone Real Estate: City of London is a new build hotspot

Michael Lloyd

January 14, 2020

The City of London is home to the largest proportion of new build stock currently for sale in the capital, with 28% of all properties listed falling into the category according to new home specialists Stone Real Estate.

Hackney also ranks high with 23% of all homes for sale being new builds, along with Tower Hamlets.

Some 15% or more of all homes listed for sale in Newham, Lambeth and Croydon are new builds.

Michael Stone, founder and chief executive at Stone Real Estate, said: “The delivery of London’s new build housing stock is largely focused on desirable areas that are considered up and coming and there are plenty of pockets in Hackney, Newham and other more centralised boroughs that provide a perfect opportunity for housebuilders to take advantage of this ongoing change.

“While these areas have also seen some of the largest increases in the level of new build stock available as well, it’s great to see other locations climbing the ranks such as Kingston, Harrow, Haringey and Barking and Dagenham.

“This demonstrates the ever evolving landscape of the London property market and the need for new homes across the board, as we continue to build from the inside out to satisfy the consistent demand for housing.”

Meanwhile Islington, Wandsworth, Southwark and Ealing are all home to a new build percentage of 14% of all homes for sale.

Redbridge, Bexley and Kensington and Chelsea offer the worst opportunity to buy a new build with less than 5% of homes for sale being delivered through the sector.

Hackney is not only home to the second largest proportion of new builds for sale but the borough has also seen the largest increase in new build stock, up 3.1% on the previous quarter along with Kingston.

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