New Build property in London – What to keep an eye out for
Published Dec 8th 2017
2 mins read
To tackle the shortage of housing within the country, the government has placed a monumental focus on new-build homes and development.
This has caused a noticeable upsurge in this type of property being purchased – For example, in the London market over the last five years there has been a significant building programme and pipeline, which will continue to deliver new homes for the next five years to come; this could be further grown with schemes such as Crossrail 2.
There is typically one thing that New build property in London share – and that is branding. Top quality new builds will have certain brands within the property from lighting to white goods, from the type of flooring used, to the acoustic and sound systems installed. Being aware of what these are can give a developer a competitive advantage.
Branding is everything
When you go to view a new build property, keep an eye out for the appliances that have been installed by the developer.
Typically, in London, new homes will normally come with a fully fitted kitchen and while most individuals will agree with the developer’s choice, if there is not a sufficient ‘pedigree’ of brand it will make the already wary and conscious buyer believe that the developer could be taking the least-cost (cheaper route) to maximise their profit.
After all some new build schemes have over 300 units; so, imagine the money that is being spent by the developers when choosing brand like Miele for appliances or Villeroy and Boch for bathrooms.
Typical brands used within New Builds in London
Most developers will use more than 10 main brands.
The more desirable schemes in Central London, where prices are often higher (and buyers have more demanding tastes), are where German Miele and Siemens are most popular. Reliable brands such as Boch and Smeg are not far behind.
For those purchasing more affordable new builds, the Italian Zanussi is preferred and interestingly enough it is fast becoming a more reliable brand than ten years ago. For the perfect top grade, superior properties – like penthouses, Liebherr, Wolf Ovens, Sub-Zero fridges and Gaggenau are generally regarded as the most prestigious brands.
If a developer is not using one or more of these brands they need to start. It’s a competitive market out there and developers have to improve their offering to ensure that London remains at the top of international demand.
Any slip in standards and it would be conceivable that London’s wealthy domestic and overseas buyers will look at other ‘international’ modern cities like New York, Hong Kong, Dubai, Beijing, Los Angeles etc.
If you would like to find out how Garrington can expertly guide you in buying a new build property please get in touch today.