Healthy optimism seems to have returned to the London housing market, and nowhere is this more apparent than for developers who have been rapidly responding to the demand for new homes.
(1888PressRelease) June 05, 2013 - The continued investment into London's infrastructure following the Olympic Games and the maintained high demand from international buyers, has positioned the capital as a leading city of opportunity when it comes to residential or commercial development.
This has led to high end developments and more modestly-priced homes springing up across London, rejuvenating rundown or lesser known areas. Some of the more prominent of these include Battersea Power Station, the King's Cross regeneration zone and the banks of the River Thames, with acclaimed architects such as Renzo Piano and Terry Farrell leading the transformation.
"We have seen very strong demand for new homes from both UK/London based buyers and from Far East investors," said Stephen Porter from Stirling Ackroyd, a leading London property agent which offers specialist advice on new homes. "This is really underpinning capital values and stimulating growth."
New-build homes are particularly popular with first-time buyers as they often make for a quicker purchase, come with an increased guarantee of quality such as a 10-year warranty and insurance cover from the National House-Building Council, are more energy efficient and provide a clean, untouched finish that residents can put their own stamp on.
At the other end of the property ladder, prestigious new-build developments are often professionally designed for the modern dweller, come equipped with high-end fixtures and fittings and benefit from amenities such as a gym, concierge service and allocated parking. Given the London postcode it is no surprise that new homes are being snapped up quickly, most off-plan.
Buying a new-build home in London also represents a smart move for buy-to-let investors as they require minimal maintenance, have low running costs and are typically located with the convenience of local residents in mind. Stephen Porter states: "With mortgage rates at such affordable levels, buy-to-let investors are certainly back in the market. Areas such as Hackney are offering current yields of around 5%; add to that potential annual growth of between 6-10% and this makes buy-to-let an attractive proposition."
The popularity of new builds is demonstrable by the surge of demand Stirling Ackroyd have seen for developments such as The Link in City Road, The Textile Building in Hackney and Clerkenwell Quarter, which has sold almost 50% of available units since its launch on 9th May.
Stirling Ackroyd is an independent firm of London estate agents offering specialist advice on all aspects of both residential and commercial property throughout Central London and the City fringes. For more information visit http://www.stirlingackroyd.com.
Healthy optimism seems to have returned to the London housing market, and nowhere is this more apparent than for developers who have been rapidly responding to the demand for new homes. 
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