Hitting a Sweet Spot in the London Market?
While Many Homebuilders Drop Prices, Galliard Homes Increases Prices in Colindale
Published: 1 February 2017
It's not all doom and gloom for home builders. We uncovered a series of price rises through December and January on the Silver Works scheme in Colindale in the London Borough of Brent.
Price increases ranged from 1 to 15 percent across mostly 2-bedroom units. A spokesperson for Galliard stated that sales have been robust with many First Time Buyers expressing interest in the units. The Help to Buy government initiative may have helped as the property listings displayed the Help to Buy logo.
It is unclear as to whether the specific units undergoing the price increases were being offered as part of the Help to Buy scheme.
A quick look at the Galliard Homes website revealed a number of units remaining, priced from £395,000 to £730,000. All units, apart from the £730,000 unit, were noted as Help to Buy.
See also:
Jan 2017: Distressed Market Brings Underground Deals to Surface
Jan 2017: Resales Listed for Under Contract Price
Sept 2016: Tower Hamlets Price Pressure Caused by Surge in New Builds
July 2016: Investors At Risk as Prices Dip Below 2013 Levels in Nine Elms
Propcision: Research and Blog Postings
Salesrack: Browse Steepest Price Cuts in London
Price increased 11 percent
Data suggests unit was listed in November at £440,000 and increased to £490,000 at end of December 2016
Price increased 10 percent
Data suggests unit was listed in mid October at £435,000. The price appears to have been increased 17 percent in mid-December to £510,000, then reduced back down in mid-January to £480,000.
Total increase is 10 percent.
Snapshot taken on 30 January 2017
| Sqft | Price/sqft | Bedrooms | Current Price | Initital Price | Percentage Increased |
| 784 | £612 | 2 | £ 480,000 | £ 435,000 | 10% |
| 775 | £612 | 2 | £ 475,000 | £ 470,000 | 1% |
| 778 | £591 | 2 | £ 460,000 | £ 435,000 | 6% |
| 778 | £591 | 2 | £ 460,000 | £ 437,500 | 5% |
| 775 | £612 | 2 | £ 475,000 | £ 440,000 | 8% |
| 784 | £625 | 2 | £ 490,000 | £ 440,000 | 11% |
| 755 | £629 | 2 | £ 475,000 | £ 455,000 | 4% |
| 778 | £591 | 2 | £ 460,000 | £ 435,000 | 6% |
| 635 | £622 | 1 | £ 395,000 | £ 385,000 | 3% |
| 778 | £642 | 2 | £ 500,000 | £ 435,000 | 15% |
| 778 | £591 | 2 | £ 460,000 | £ 437,500 | 5% |
| 784 | £637 | 2 | £ 500,000 | £ 460,000 | 9% |
