RESIDENTIAL RESEARCH
FOCUS ON: PARSONS GREEN 2016
FOCUS ON: THE LOWER LEA VALLEY 2018/19
CONNECTIVITY DEVELOPMENT PIPELINE FORECASTS FOCUS ON: THE LOWER LEA VALLEY East London’s regeneration accelerated in the wake of the 2012 Olympic Games, and was hailed by Mayor Sadiq Khan for shifting the capital’s centre of gravity to the east.
The Games brought with them upgrades The Lower Lea Valley is well suited for to local amenity and infrastructure, which new residential development due to its supported an influx of new residents proximity to London’s main financial and businesses. Now, population centres in the City of London and Canary growth in Tower Hamlets and Newham Wharf, its relative value compared is projected to outpace all other inner to other locations so close to central London boroughs over the coming London, and its connectivity to the rest decade, according to the Greater London of the UK and beyond by rail and air Authority (Fig. 2). (Fig. 5). This has helped underpin strong house price growth in the area over the FIGURE 1 Supply and demand past decade. Values have risen by 80% Westminster Number of homes bought with Help .21 Wandsworth Much of the housing that will support on6.91 average, outperforming both the wider Hammersmith Fulham to Buy equity loans since scheme 6.0 this population growth is planned in the boroughs of Newham and Tower Hamlets .
began in 2013 K C Lower Lea Valley, an area which includes over the sale time (Fig. 4). 2. 0 City of London Bromley-by-Bow, Stratford, Bow, Future growth is likely to be supported Poplar and Leamouth, and straddles by upgrades to infrastructure and public Haringey Lambeth Islington Southwark Camden Lewisham Hackney 12.80 11.30 10.93 10.60 9.3 9.00 8. 8. Newham Tower Hamlets Tower the boroughs of Tower Hamlets .22 and Newham. Here, more than sixty projects realm, the emergence of Stratford as a of 80 private units or more have consent major commercial, retail, education and or have commenced construction, employment hub, and a handful of very according to data from Molior (Fig. 3). large residential and commercial projects Together, they comprise more than that will deliver new amenities. Newham 450 20,000 private homes, to be delivered over the coming two decades. Commercial property The projects will provide much-needed The Lower Lea Valley sits adjacent to additional housing, which has fallen the City of London and Canary Wharf short of official projections for housing financial districts. Both office markets need in the wider area. There were have proved resilient since the vote 9.3 9.00 8. 8. .22 .21 6.91 6.0 . 2. 0 12.80 11.30 10.93 10.60 7,204 net additional dwellings delivered to leave the European Union in June in Tower Hamlets and Newham during 2016, with a number of large companies Tower644 Hamlets the 2016/17 financial year. Annual committing toTH new office space, and housingARK need in these boroughs is 8,713, investors setting records for office Source: Knight Frank Research/MHCLG according to MHCLG. investment deals. ANDSWO R TOWER HAMLETS NEWHAM LEWISHAM HACKNEY SOUTH W HARINGEY ISLINGTON CAMDEN LAMBETH WESTMINSTER W HAMMERSMITH & FULHAM K&C CITY OF LONDON
FIGURE 2 Projected population growth, inner London 2018–2028 % % % % % % % % % % % % % % 4 0 6 6 4 5 0 0 6 TH R SEA ARK W NGTON ANDSWO TOWER HAMLETS NEWHAM LEWISHAM HACKNEY SOUTH HARINGEY ISLINGTON CAMDEN LAMBETH WESTMINSTER W HAMMERSMITH & FULHAM KENSI AND CHEL CITY OF LONDON
Source: Knight Frank Research / GLA
2 Please refer to the important notice at the end of this report RESIDENTIAL DEVELOPMENTS
INCLUDES BUILD TO RENT
SELECTED MAJOR PROJECTS
RESIDENTIAL DEVELOPMENTS
SIZE OF DOTS CORRESPOND INCLUDES BUILD TO RENT 2 66 83 TO NUMBER RESIDENTIAL DEVELOPMENTS OF PRIVATE UNITS SELECTED MAJOR PROJECTS
INCLUDES BUILD TO RENT
LOWER LEA VALLEY SELECTED MAJOR PROJECTS RESIDENTIAL DEVELOPMENTS THE LOWER LEA VALLEY 2018/19 RESIDENTIAL RESEARCH SIZE OF DOTS CORRESPOND 2 66 83 INCLUDES BUILDTO TO NUMBER RENT OF PRIVATE UNITS FIGURE 3 RESIDENTIAL DEVELOPMENTS STRATFORD SIZE OF DOTS RESIDENTIAL DEVELOPMENTS SELECTED MAJOR PROJECTS WHAT’S IN THE PIPELINE? CORRESPOND BOW 2 66 83 TO NUMBER Residential and commercial projects to be delivered 2018–2038. BROMLEY-BY-BOW OF PRIVATE UNITS INCLUDES BUILD TO RENT LOWER LEA VALLEY POPLAR INCLUDES BUILD TO RENT