During the last decade, the borough of Ealing has welcomed thousands of new build homes.
A large proportion of these homes have been retained by the local council in order to provide affordable living within Ealing, whilst also allowing the council to continue to meet their targets regarding the areas housing shortage.
Whilst developers are slowly helping to provide the council with new build affordable solutions, they have also been busy developing and bringing to the market, some of the most luxurious new build homes to date.
Since the announcement of the instillation of Crossrail’s Elizabeth line back in 2008, the borough has been targeted by world renowned developers, such as Berkeley Homes, Catalyst, Galliard Homes and Taylor Wimpey.
New build homes within the borough are highly sought after, with the majority of units being sold prior to completion on large scale developments, such as Dickens Yard. For some, buying an apartment or house in a large scale and phased development is the right investment, whilst others prefer to invest in a smaller scale new build projects such as, SMC Property’s Birch Grove development due for completion in Spring 2017, providing five luxury new build apartments within a period conversion, in the heart of Acton, Ealing.
Ealing has seen a surge of investment recently, although some of this investment has been pumped in as a result of crossrail, Ealing itself has become an even more desirable area in recent years. With central London becoming increasingly more accessible, Ealing’s schools ratings have improved, some of which are now ofsted outstanding and with crime rates consistently fallen in previous years it is no surprise that new build developers are operating here.
Now let’s talk money, the average price paid last year per sq.ft for a residential dwelling, in Greater London was £930, whilst the average price paid in Ealing per sq.ft was a mere £715. More often than not, new builds in London can be slightly more expensive than a period property, however a new build is a stable investment, with most new builds providing at least a 10 year warranty so is considered a safer option for buyers.
Outgoings for the first decade of ownership are kept to a minimum after purchasing a new build, bills are often more affordable in a new build home as appliances provide the optimum levels of efficiency, new build properties can also often be tailored to the buyers needs, (take a look at our new build options for more information: http://smcproperty.co.uk/listings/) therefore reducing costs further as there are no changes to be made to the property once purchased.
Confidence in building new builds within the borough is continuing, the developer, Greystar has recently been granted planning by Ealing Council to build nearly 2000 new build homes in Greenford. This application of planning alone, shows that confidence in development is moving outside of central Ealing, towards the outskirts such as areas like Hanwell, Acton and West Drayton.
The borough of Ealing has a target to meet, providing 1,000 new homes each year. With a constant need for new homes in London, new build homes are constantly being planned and developed, if you are in the pipeline to purchase a new home, or invest in a new build in Ealing make sure not to miss out before they are all built and sold off!