Revealed: London’s development hot spots

February 24, 2017 / Isla MacFarlane
Revealed: London’s development hot spots

Research compiled by Inspired Homes reveals London’s best locations for developers within the £600,000 Help to Buy threshold.

Selecting over 100 postcodes in Greater London, the research ranks locations on the absorption rate of new-build properties priced below £600,000.

With an absorption rate of 20%, the top ranked location for new-build developers is Camberwell (SE5), followed by Finchley (N3) and Plaistow (E13) in third place.

However, with an average price of £513,616, Camberwell is also the most expensive location in the top 10, with Plaistow the most affordable. The locations with the lowest absorption rate are Hendon (NW4) at 1.9%, where properties were listed for an average of 54 weeks, Tooting (SW17) and Ealing (E5).

Neil Taylor, Sales Director at Inspired Homes, said, “Our research paints a picture of how successful developers have been in locations across London. New supply in top spot Camberwell is being absorbed faster than in any other location in London indicating its popularity amongst buyers as well as an undersupply of new homes.

“In locations such as Hendon and Tooting, the absorption rate is a lot lower indicating a buyers’ market. As a developer, you are likely to enjoy greater sales success by building in a top 10 location like Camberwell or Croydon where the absorption rate is higher.”

Full table:

 

Rank Postcode Location Average Price (£) Absorption Rate
1 SE5 Camberwell 513,616 20.0%
2 N3 Finchley 420,510 17.9%
3 E13 Plaistow 225,089 16.7%
4 SW2 Brixton 487,937 12.5%
5 SE6 Catford 420,933 12.5%
6 HA1 Harrow 420,326 11.1%
7 BR1 Bromley 392,836 11.1%
8 SE20 Penge 371,250 10.8%
9 SE26 Sydenham 400,495 10.1%
10 CR0 Croydon 392,737 9.1%
11 SE15 Peckham 426,651 9.0%
12 W13 West Ealing 496,774 8.7%
13 SM1 Sutton 352,208 8.3%
14 E9 Hackney 504,500 8.2%
15 SW11 Battersea 469,529 8.1%
16 NW7 Mill Hill 486,170 8.1%
17 SE8 Deptford 502,477 7.8%
18 SE10 Greenwich 359,248 7.6%
19 SE3 Kidbroke 449,214 7.3%
20 E2 Bethnal Green 526,000 6.9%
21 SE25 Selhurst 336,169 6.8%
22 SW16 Streatham 410,438 6.5%
23 SW9 Myatts Field south 426,904 6.3%
24 E15 Stratford 430,425 6.3%
25 SE18 Woolwich 453,330 6.2%
26 E16 Silvertown 454,539 6.0%
27 SW20 Raynes Park 489,704 5.9%
28 NW9 Brent Cross 413,559 5.9%
29 E5 Clapton 348,663 5.9%
30 W3 Acton 475,410 5.7%
31 TW1 Twickenham 488,527 5.6%
32 N7 Holloway 539,983 5.6%
33 N8 Crouch End 482,875 5.5%
34 W6 Hammersmith 540,210 5.1%
35 E3 Bow 475,981 4.9%
36 W12 White City 499,987 4.8%
37 KT1 Kingston 435,891 4.8%
38 SE17 Walworth 512,500 4.6%
39 DA1 Dartford 268,834 4.5%
40 SW18 Earlsfield 515,796 4.5%
41 E1 Whitechapel 503,925 4.4%
42 E14 Canary Wharf 460,581 4.3%
43 NW3 Hampstead 542,800 4.2%
44 SE16 Bermondsey 477,059 4.0%
45 NW2 Cricklewood 502,781 3.8%
46 IG1 Ilford 352,730 3.8%
47 NW6 Kilburn 532,583 3.8%
48 SW8 Nine Elms 535,232 3.5%
49 SW15 Putney 575,431 3.4%
50 SW19 Wimbledon 497,514 3.4%
51 NW5 Gospel Oak 524,500 3.4%
52 NW10 Stonebridge 502,781 3.1%
53 SE1 Southwark 532,216 3.1%
54 SE19 Upper Norwood 438,836 3.1%
55 SE13 Hither Green 356,799 3.1%
56 EN1 Enfield 429,150 3.0%
57 E8 Dalston 495,576 3.0%
58 SE9 Blackheath 364,773 2.8%
59 N4 Woodberry Down 494,435 2.6%
60 W5 Ealing 550,260 2.4%
61 SW17 Tooting 505,000 2.3%
62 NW4 Hendon 499,308 1.9%
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