Research showing house prices in Nine Elms are set to increase by almost a quarter over the next five years demonstrates the area’s huge investment potential, according to Bellway London.
A report by leading global real estate agency JLL has forecast a 22.5 per cent rise in residential property values across the Vauxhall, Nine Elms and Battersea area in the four years to 2025.
Bellway London, which is delivering 586 new apartments for sale at two sites in Nine Elms, says demand for new homes in the district is accelerating as more buyers seek to take advantage of predicted future house price growth set to result from the area’s ongoing regeneration.
The housebuilder’s two developments, The Residence and Lexington Gardens at The Residence, are part of the wider regeneration of the area that is expected to deliver around 20,000 new homes and create 25,000 new jobs by 2030. The £15 billion programme includes the transformation of Battersea Power Station into a major residential, commercial and leisure hub, and the Northern line extension which will improve transport links to the rest of the capital.
Emma Hamlett, Sales Director for Bellway London, said: “The district of Nine Elms is quickly becoming one of the most sought-after neighbourhoods across the capital. The regeneration of various brownfield sites in this prime location on the South Bank of the Thames has sparked a surge of activity in the local property market which looks set to continue for the foreseeable future.
“The figures released by JLL demonstrate the massive investment opportunity that Nine Elms represents for buyers in the capital, and this is something that has helped drive sales at our Lexington Gardens development right in the heart of this major regeneration zone.
“JLL’s report also highlights how prices for new-build apartments in Nine Elms are currently lower than in Vauxhall and Albert Embankment. This emerging district therefore offers good value in relation its more established neighbours.
“There has already been large scale investment in the area, including the new US Embassy building which neighbours our developments and can be seen from select apartments. The completion of the Northern line Extension this autumn, which will deliver a new station at Nine Elms within Zone 1, and the opening of the Battersea Power Station Shopping Centre next spring will provide a further boost to the area’s economy and future growth prospects.”
Bellway London’s Lexington Gardens at The Residence development comprises one, two and three-bedroom apartments, with prices currently starting at £745,000 for a two-bedroom home. All apartments at The Residence have now been sold.
