What are property hunters looking for in 2019? London experts point out key trends that emerged in 2018, from ‘newstalgia’ to a waning interest in hi-tech gadgets
Words: Fiona Brandhorst
Lead image: One Park Drive at Wood Wharf
Privacy, access to local shops and amenities, digital connectivity and public transport will be among the top reasons for moving in 2019, according to Strutt & Parker’s latest Housing Futures research.
Even in the digital age, more people wanted to be close to family and friends, up from 37% to 48% since 2013, says the report. Big cities like London have become more popular as a preferred location to live, and walking to work was seen as an increasingly attractive option, up from 25% to 36%.
Orlando Rodriguez, Design Director at luxury London developer Northacre, predicts that with fewer people owning cars in the capital, car parking spaces will become redundant.
‘I see a business opportunity focused on using these subterranean spaces,’ he suggests. ‘The obsession with gadgets in the home is also waning. Older buyers need to ask their children for help to use iPads to control heating and lighting. We need to keep it simple.’
This year, you’ll be hearing the word ‘newstalgia’ to describe new residential schemes keeping a foot in their past. Pinks Mews by luxury boutique developer Sons & Co is a fine example. The secluded gated development, comprising 35 luxurious apartments set in the heart of Holborn, is accessed through a private walkway and retains the exterior walls of the Victorian alms houses which once stood on the site.
A vibrant mix of old and new featuring state-of-the-art interior design and modern technology, Pinks Mews is opposite the attractive 19th century Gothic-style Prudential Assurance Building. Prices start from £995,000 for a first floor one-bedroom apartment on the market with CBRE.
The Floral Court Collection by Capco in Covent Garden also marries modern architecture with the conservation and restoration of heritage buildings and is moments from top designer stores and eateries. The grand entrance hall and concierge lobby, located in the former boardroom of the 18th century Westminster Fire Office, charms visitors instantly.
The Floral Court Collection by Capco in Covent Garden marries modern architecture with the conservation and restoration of heritage buildings
The 31 boutique studio, one, two and three bedroom apartments including one penthouse are set around a new courtyard and many feature a terrace or balcony, oases in this central part of town. Prices start from £1.3m.
Drawing on the period architecture of nearby Richmond Village, the Georgian and Victorian-style new homes at Richmond Chase are nothing short of 21st century inside and equally at home with the manicured landscaping and paved avenues outside. Three, four and five-bedroom houses by Berkeley Homes start from £1.48m.
The Help to Buy equity loan scheme has been pivotal for sales in London, so the recent government announcement that it will be extended for first time buyers from 2021 until 2023 has been welcomed.
Knight Frank has just launched three new east London schemes offering the government incentive at Bow Common Lane near Mile End Park, Douro next to Olympic Park and Upton Gardens, the former home of West Ham United FC.
The pace and pipeline of development in east London has accelerated in the last decade making these areas very different places to what they were 30 years ago
Andrew Groocock of Knight Frank Canary Wharf comments: ‘The pace and pipeline of development in the area has accelerated in the last decade making these areas very different places to what they were 30 years ago.’
Each has stunning views, a private balcony, designed to not be overlooked by its neighbour, and dedicated residents’ amenities including a health club, cinema and library arranged across the first floor. Prices start from £825,000.
One thing’s for certain, there won’t be many dull moments in the London property market this year.