Flats in E5, flats in NW6, flats in SW8, whichever postcode you search in the Capital, there appears to be a chronic shortage of houses and flats in London.
There is a particular scarcity as far as larger 3 bedroom flats in London are concerned, due to the insufficient volume of family housing in the city. Many families tend to opt for 3 bedroom flats, as they are generally cheaper than 3 bedroom houses in London, where property prices are sky-high.
Yet instead of increasing the supply of flats in E5, NW6, or SW8, among other areas, the signs are that the supply of new build homes, including 3 room flats in London, will virtually grind to a halt in the short-term, due to government cuts. This is despite the fact that house building levels are currently at an 80-year low.
A new report which has been released by The National Housing Federation says that the number of new affordable housing being built this year could slump by a whopping 65 per cent with all housebuilding, including private developer construction, drastically decreasing. Funding cuts and changes to the planning system by the government mean that just 20,390 new homes are scheduled to be built nationwide in 2010.
This means fewer 1, 2 & 3 bedroom apartment in London. Which means less flats in E5, NW6, SW8, and so forth.
Bob Weston, head of Weston Homes, says: "With grants and funding for the RSLs [Registered Social Landlords] being drastically cut back... housing associations will not be able to place affordable housing with private developers unless the government is flexible about revisiting the housing association element and [housing] schemes will be mothballed or just not start."
Weston believes that all these cuts and changes are likely to have a "catastrophic impact on the housing market". This will naturally reduce the supply of 1, 2, and most importantly, 3 bedroom apartment in London - most urgently needed by families.
To reduce the supply of much needed 1, 2, and 3 bedroom flats in London is not the way to handle lengthy housing lists consisting of millions of people. This is not the way to assist more people and families currently priced out of buying 1, 2, and 3 room flats, in their efforts buy flats in E5, NW6, SW8, and wherever else in the Capital.
Fortunately, there are still some new 3 bedroom apartment being built, including flats in E5, NW6 and SW8, and their surrounding areas.
A2dominion has released a collection of new flats near E5, as part of a new build development called Indigo in Hackney. The project features a delightful selection of homes, including much needed 3 bedroom apartment in London. These flats start from £365,000 to buy.
Vision Homes has also released a number of new flats in E5, as part of its Paradise Park project, which offers some of the most striking 1, 2, and 3 bedroom apartment in London, These E5 flats start from £189,950 to buy.
Some of the newest 3 bedroom apartment in London are located in Fortune Green, NW6, where a new build home development has just been completed. Designed by award winning architect Piers Gough of CZWG, this long awaited development features some of the latest 1, 2 and 3 bedroom apartment in London, many with balconies, and others with wrap around terraces overlooking Fortune Green. Prices start from around £395,000.
Berkeley Homes has released some new 3 bedroom apartment at its Chelsea Bridge Wharf development in SW8. The residential project benefits from a prime Central London location, with various leisure facilities, innovatively designed for refined city living. These 3 room flats in London start from around £750,000.
Despite the new build homes currently being constructed and made available to buy, it cannot be denied that more new build houses and flats are needed, particularly 3 bedroom flats in London.
