London is the biggest population centre in the UK, home to over 9.6 million people. It has been steadily growing for years too. As a result, there is a very high demand for housing. While there are obstacles to overcome to supply it, there are a lot of big projects in the pipeline. As one of the top names for guaranteed rent in Barking and Dagenham, we want to take a closer look at what is going on.

Regeneration schemes

At the moment there are 15 large projects in the city that will create new micro towns. They could provide 265,000 homes. They are all at different stages, with some beginning construction and others at the planning phases.

Interestingly, the majority of the projects are in East London. Many will redevelop former industrial land. Others will transform disused sites. Developers have been favouring the east end for a while now because land values are lower. It helps to make the developments more feasible.

Overall, the pipeline of housing supply is quite healthy. However, there are some concerns about a shortage of builders and planners. It can mean delays in getting projects to completion. As a result, the expectation is that undersupply will sadly continue for years.

Where are the projects?

As we said above, we are one of the top providers of guaranteed rent in Barking and Dagenham. Luckily for us, several of the projects are in the borough. The largest is Barking Riverside Limited by L&Q. It is the second biggest new town in the whole city, providing 10,800 homes. The project has planning permission, so can proceed.

There are two other projects in the area. Firstly, is Dagenham Green by Peabody. The plan here is to build 3,502 homes. In addition, there is Beam Park by Countryside and L&Q. There will be 3,119 homes. Both developments have planning permission.

The largest single development is Old Oak and Park Royal. The project is in two boroughs, Hammersmith and Fulham as well as Ealing. It will create 25,000 homes. However, it is currently only in the Local Plan and does not yet have planning permission.

Of the other projects there are ones in Greenwich (Greenwich Peninsula), Newham (Thameside West, TwelveTrees Park, and Silvertown Quays), Southwark (Canada Water), and Lewisham (New Bermondsey and Convoys Wharf).

Investing

The new housing will be excellent news for all of these parts of London. However, Barking and Dagenham will probably appreciate it the most. The area has seen house prices rise by 110.60% in just ten years. Demand is still high though as more investors explore the market and more buyers choose to live here rather than in more expensive spots in Central London and the west end.

The only area to see a higher rise in prices in the last decade was Waltham Forest. Here properties gained 116.38%. It took the average price from £236,856 to £512,508.

Do you want to try guaranteed rent in Barking and Dagenham?

If you do look at investing, we always suggest you consider all of the options. This is the best way to make sure you will be in the right position to achieve your goals. Plus, it could show you there are different ways to do things that could offer even more benefits.

When it comes to guaranteed rent in Barking and Dagenham, we have the best solutions. We work with the local council and can arrange everything for clients. So, speak to us today and find out if this will work for you.