Many buyers target new housing, whether they are looking for their own home or an investment property. New homes can offer some impressive advantages, including higher energy performance and less risk of needing to spend on updates. We want to look at new data that shows where you can find the most affordable new builds in London. Then, if you want guaranteed rent in Havering for assets, you can speak to us.

Higher prices

London is a great place to buy housing, but it does tend to have higher prices than the rest of the UK. This is no different when you look at new builds. The average price for the city, even in the cheapest spots, is higher than elsewhere in Britain.

A number of factors make new builds more expensive in London. Most crucially is the general lack of land. It means land prices are higher to begin with. Then, it is more costly for labour and materials in the city.

Different areas

If you do want to buy a new build in London and aim to get the most for your money, you should consider Havering. According to ONS data, it has the lowest median prices at £298,750. It is a massive £70,000+ cheaper than the next lowest (Enfield, £371,500).

There is plenty to love about Havering, making it one of the more popular Outer London Boroughs. For example, it is a suburban area with some really great spots like Romford, Hornchurch, and Rainham. Impressively, there is a lot of regeneration in lots of these areas too. So, many are up and coming, getting new housing, amenities, and more. If you invest, we will gladly arrange guaranteed rent in Havering for you.

As we said, Enfield is the second most affordable area for new builds. It is a popular part of North London, with fantastic communities in areas like Edmonton. The key thing is there are lots of transport links, perfect for commuters.

Rounding out the top three is Hillingdon. The median price for a new build home here is just slightly higher than Enfield, £375,000. The impressive thing is the borough has a great selection of vibrant areas to suit different lifestyles. It is also home to Heathrow and numerous aviation businesses.

Least affordable location

To put into perspective how affordable those three areas are in comparison, let’s look at the part of London where it is most expensive to buy a new home. The City of Westminster has that title according to the ONS data. It says the median price for a new build home is a massive £1,809,875.

There are a number of things to keep in mind if you look at Westminster though. Firstly, it is one of London’s prime markets, so it has some of the city’s most expensive homes. Secondly, new builds are rarer here because it is urban and close to the centre of the city.

Ask us about guaranteed rent in Havering

Whether you invest in a new build or a period property, you can rely on us to protect your rental income. With Guaranteed Rent you don’t have to worry about tenants not paying bills or those times when properties are empty. In fact, you don’t need to think about tenancies at all. We can make arrangements with local councils in London so they can use the properties, place tenants, and do everything else. They’ll pay a fantastic rate each month without fail.

So, if you want a better, easier way to get money from investment properties, ask us about guaranteed rent in Havering and other parts of London. We’re one of the leading experts in the industry and give clients the best possible support.