London home buyers are increasingly aware of the cost challenges and limitations faced with ageing secondary-market homes, and due to significant market demand for eco-balanced, cost efficient homes, the London property market is seeing a welcome wave of new build developments coming on line in 2022.
Buying off plan is an attractive proposition for those that want a dream property on their own terms, and when buying from new the worry of future repairs and costly building maintenance is predominantly negated as building integrity assurances and regulated warranties protect the buyer.
Another major upside offered by new homes is energy efficiency and the ability to keep utility fees to a minimum – a serious consideration in these worryingly expensive times. In support of responsible consumption, UK building regulations focus heavily on best-practice fitout, aimed at reducing household emissions and optimising energy use.
Time to Sell? For historic buy-to-let owners, these positive and eco-responsible regulations come with their own challenges as set levels of insulation and energy efficiency must be met to ensure tenant advantage, making the retention of older homes in a property portfolio more costly to upgrade and maintain. If you are thinking of moving your property portfolio into new build options, speak to us.
And so, the shift to new build flats and houses is sensibly set to grow. A government regulated building warranty scheme guarantees each and every new UK homeowner security and building safety for up to a decade – any liability incurred will be at the cost of the developer. Added to that, the eco-friendly characteristics of new British homes not only make them more comfortable, but also help to improve occupant living standards by keeping heating, cooling and electricity bills to a minimum.
Stirling Akroyd’s specialist new-build division has seen unprecedented demand for London homes in the last few years.
“Buyers are increasingly mindful of their environmental footprint and property efficiency, which is key to affordability in the short and long term. Our clients want sustainability and structural security, and with a wide range of London new build developments to choose from, people can live, work and play in homes without worrying about costly bills now, and costly repairs later on down the line.”
George Davey, Head of Land, New Homes and Development
To find out more about our New Builds, visit our New Builds Branch.
