New Homes for Sale in London

New Homes in London

London is by far the largest city in the United Kingdom, populated by over 9.5 million people of various ethnicities. The megalopolis is home to 32 boroughs and the City of London. Thanks to one of the best transport systems in the world with over 270 Underground stations, it doesn’t really matter whether you live outside the city centre or not. London attracts homebuyers from all over the world with its constant capital growth as well as the country’s leading business centres and excellent job opportunities. 

What type of new homes do people live in London?

London’s residential buildings range from ultra-modern skyscrapers to cosy Georgian townhouses. All new homes, in general, can be divided into the following types: detached, semi-detached, terraced, flats, and townhouses. 

• Detached. Detached properties do not share walls with other separate structures. This type provides more privacy than the rest and, therefore, they are usually more expensive.
• Semi-detached. This type of home is more common and affordable. The main difference between semi-detached and detached properties is that the former shares one wall with another building.
• Terraced. Terraced homes are one of the most iconic housing types in the United Kingdom that are quite popular in certain areas of central London. Each house shares walls on both sides with its neighbours.
• Flats. Flats are self-contained living areas comprising a set of rooms that are part of a larger building. Another similar housing type is an apartment, which is usually known as an American version of the word. However, there is actually a difference that goes beyond that: apartments can be set across more than one floor and are perceived by many as a more luxurious option, while flats have all its rooms located on one floor. Also, premium flats on the top floor are called penthouses.
• Townhouses. A townhouse is a type of terraced housing that usually has a small footprint on multiple floors, allowing it to be placed within a bustling city.

What are the pros and cons of new homes in London?

A home is strongly associated with the sense of belonging and something your own, which is why it’s no surprise that many people choose new builds, knowing full well that no one has ever lived in their home before. Add pristine finishes and fittings as well as modern technologies to that, and a newly-built property seems like a perfect option. However, there are some drawbacks, such as probable delays in construction, unreliable developers that fail to deliver what’s been promised, and some additional charges that come with new homes. 

What are the best places to buy a new home in London?

The answer to this question depends on your needs and preferences. If you’re buying a home in hope of getting significant capital growth, then you need to consider the areas undergoing regeneration. Outer London is better for those who prefer some peace and quiet, while the city centre attracts a younger crowd with a good budget. 

• Richmond upon Thames. Named the happiest place to live in London, this affluent area boasts an abundance of green spaces, low crime rates, and great amenities. Richmond upon Thames is also a great pick for families thanks to its top-performing schools.
• Bexley. If you’re looking for a more affordable option, Bexley might be your answer. Apart from its appealing price tag, the borough is peppered with luscious fields and quaint markets as well as great transport links.
• Islington. For students, Islington is one of the best areas in London due to its proximity to universities and relative affordability. In addition, the borough is well-connected to the city centre.
• Camden. Known as a hipster hub, Camden is a good pick for young people. The area offers a collection of street food spots, vintage stores, and lively vegan shops.
• Lewisham. Some are falsely convinced that London isn’t a good place for nature lovers. However, outer boroughs, such as Lewisham, might prove them wrong as the area has no shortage of beautiful green spaces.
• Shoreditch. If you are an adventurous eater or just love various cuisines, Shoreditch can be exactly what you need. Although it’s not the most affordable place in London, it’s definitely worth it.
• Barking and Dagenham. For those who are tight on a budget, Barking and Dagenham is a great choice. Located within reaching distance of central London, the borough has one of the cheapest real estate in the city.

FAQ

• Do new homes come with appliances?

It all depends on the developer, but, in most cases, you can expect the following appliances: a dishwasher, a range hood, an oven, and a stove. Premium houses are equipped with much more options, such as a fridge, a microwave, blinds, and fences. 

• Is buying a new build home a good investment?

New build homes help investors rise their property's appreciation rate and build equity faster, which is why new real estate is especially popular among investors. However, it’s always important to conduct a survey of the market before buying a property as there are many factors at play.  

• Are new homes cheaper?

New build homes are generally cost more than resale properties. 

• Are new homes built well?

New homes often get critisized for its bad quality. Even when purchasing a premium home, you might find some snags and imperfections. Therefore, you should get a snagging survey done as soon as possible to make the developer fix everything in time.  

• Where are first time buyers buying in London?

First-time buyers usually opt for more affordable areas, such as Bexley and Bromley that, despite not having any Underground stations, are well-connected via other transport links. Other popular options include Bexley, Newham, Croydon, Sutton, and Enfield.

• How much deposit do I need to buy a new home in London?

Typically, you would need to put down at least a 5% deposit. However, on average, people buy properties with a 15% deposit.

• Is London a good place to invest in property?

London is one of the best cities for real estate investments in Europe. It’s widely known for exceptional capital growth and high rents. 

• Can a foreigner buy property in London?

London is a very popular location among overseas investors as there are no restrictions forbidding foreigners from buying property.