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Could West London Buck the Capital’s Falling Property Value Trend?

By August 26, 2021No Comments

Southall may be one of the largest regeneration areas in West London right now, but it’s by no means the only one. Others are planned at One West Point in Acton and Regency Heights in Park Royal, for instance.

But certainly, Southall is worth a look to anyone interested in the property market in West London. For we’re not just talking 3,750 new homes here, but a whole new landscape – complete with piazzas and courtyards – commercial outlets and leisure facilities. A dedicated waterside trail along the Grand Union Canal is also planned for some time in the near future.

The homes – at Southall Waterside – are being built by Berkeley on the 88-acre site of the former gasworks. Phase one will consist of 618 one to three-bedroom apartments. A total of 186 of the apartments have already been earmarked for the capital’s affordable housing scheme, giving priority to those already living in the area or nearby.

According to property portal Rightmove, last summer the average property in Southall was valued at £410,413, although developers are confident of that figure rising – despite the falling property prices the Capital is currently experiencing.

Property firm JLL meanwhile predicts that West London house prices will outperform both Greater London and Central London over the next five years. This is in regard to sale price and rental growth. A report suggests 13 per cent growth in prices for West London, compared to 11 per cent and 10 per cent respectively. This is attributed to the Crossrail effect, and the fact that many people are moving away from Central London and properties which can even prove too expensive to rent.

Large scale residential developments in West London

North Acton/Old Oak: The 42-storey tower One West Point is one of four buildings in West London set to bring a total of 578 homes to the area. These will comprise one, two and three-bedroom apartments with the tower proving to be the largest residential landmark in the whole of West London. Developers City & Docklands also plan on hiring a concierge, installing valet parking, a gym, meditation suite and a roof garden with cocktail terrace. Residents will benefit from both Crossrail and HS2 once complete, meaning faster journey times into the city and surrounding countryside.

Acton Gardens: Around 1250 homes across 11 phases are to be completed by Countryside and L&Q. Some of the apartments have already been sold – mostly to young professionals working in the city.

Park Royal: A total of 807 apartments are being built at Regency Heights by developers Fairview New Homes. These include 449 studio one, two and three-bedroom apartments. Part of the giant First Central regeneration scheme, it sits on the site of a former Guinness factory. A total of 25,000 new homes are to be built over the next four decades as part of the regeneration initiative.

Brentford and Kew Bridge: To date, as many as 1,680 homes have already been built, with a further 2,590 planned. Of that number, Barratt London’s Great West Quarter, is to include 428 of those homes, as well as a new hotel, retail and restaurant outlets.

 

Chris Kirkwood

Chris Kirkwood

Development Director, Sourced.