29 JULY 2018 MY PROPERTY, MY HOME
NEW BUILDS & DEVELOPMENTS 15 Pocket the difference by leaving the city
The village of Stoke Dry in Rutland — developers such as Larkfleet Homes and Allison Homes are building nearby A
re you living in London, struggling for space and looking to upsize? Or are Lon- don prices preventing you getting your
first foot on the property ladder and putting a decent home beyond your financial reach? Why not consider a newly built home out-
side the capital? There’s life outside London, you know. Upsize to a new-build house fur- ther north and you could pocket a small for- tune if you have a home to sell. Lower house prices outside the M25 mean
that you get better value for your money. You could not only get a bigger home but also have a cash surplus. It’s a similar message if you’re thinking of
buying your first home — prices look more af- fordable outside the capital. You don’t need to move far to make a big
difference to the economics. Buying a home in new developments around places such as Corby, Peterborough and Grantham offers real financial benefits. The price of new-build homes is substan-
tially lower in this part of the world than in London. The average price of a new-build
semi-detached home in the East Midlands is around £185k. In East Anglia, the price reaches around £270k. In Greater London, it jumps to about £461k*. If you have a house to sell, you may well
be able to pocket the difference between the price achieved on your London property and your new-build home further north. Moving to a new-build home in the East of
England or East Midlands could save you tens of thousands of pounds. Just think what you could do with that cash.
COMMUTING Leaving London doesn’t mean leaving your job in the city. It’s quicker and easier to travel into central London from Peterborough than from many of London’s outer suburbs. Both Peterborough and Grantham are on the East Coast Main Line with frequent ser- vices into King’s Cross. Journey times from Peterborough are as low as 50 minutes. Corby also has
frequent services to St
Pancras. The services are direct and the aver- age journey time is one hour and 10 minutes.
More and more people are moving out of
London to find more spacious housing; about 90,000 people took the plunge last year.
LIFESTYLE BENEFITS As well as financial benefits, there are clear lifestyle benefits attached to living outside London. There’s a wealth of recreational op- portunities enabled by proximity to open countryside and rural parks. The pace of life is slower and more relaxed. Vibrant city life is available in places such
as Peterborough and Corby. London is easily accessible by road or rail for all its cultural ac- tivities as well as commuting.
DEVELOPERS Local housing developers, such as Larkfleet Homes (
larkfleethomes.co.uk) and Allison Homes (
allison-homes.co.uk), have a wide range of properties on offer across the East Midlands and East of England. It’s well worth taking a look.
*Prices from the LSL New Build Index December 2017.
Housing developers offer a range of schemes to help make home buying easy
Oakley Rise, a development by Allison Homes, is on the edge of the Northamptonshire countryside but within easy reach of the facilities of urban Corby and the main line rail station
House builders outside London can help people move — for example, part- exchange your existing property or use Help to Buy, which is available for both first-time buyers and upsizers. Larkfleet Homes —
larkfleethomes.co.uk Allison Homes —
allison-homes.co.uk
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