House prices in the UK will continue to rise throughout 2010 and beyond. That’s the conclusion of the Chesterton Humberts/CEBR forecast. Most reports have predicted a slight drop in 2010, but Chesterton Humberts believes prices will rise more than four per cent in London and two per cent in the rest of England and Wales.
The effect of increased demand can already be seen at Stanmore Place, in Honeypot Lane, Middlesex, which has seen 60 per cent of its apartments sold in its first phase. This project by St Edward Homes, part of Berkeley Homes, will include nearly 800 apartments and houses. The first-released one-, two- and three-bedroom apartments are on sale via Preston Bennett.
Stanmore Place offers a dramatic waterside setting, with a villagey feel. Landscaped areas, cycle paths and a children’s play area are proposed. CCTV and a 24-hour concierge service will provide a reassuring presence.
Homes at Stanmore Place will feature luxury kitchens, fitted with appliances, as well as bathrooms and en-suites with white Villeroy & Boch sanitaryware and Hansgrohe chrome fittings. Chrome-effect ladder-style towel rails are standard, as are large porcelain tiles for walls and floors.
Apartments in the first phase start from £235,000.
Chesterton believes that its research is more upbeat than others because, while mortgage lending remains tight, conditions have improved substantially and lending continues to edge up; base rates will remain at historic lows in 2010, making mortgages relatively cheap and supply will remain tight into the medium term. The current shortage of property on the market may be causing supply issues, but in the medium term, shortage of new building will also come into play.