New Homes in Bromley

Jul 25, 2017
Why Buy New Homes in Bromley

Spotlight on Bromley

London’s largest borough by area, Bromley stretches over 59 square miles. Many of Bromley’s towns and villages are in the greenbelt, with the majority served by fast train links into central London and the City of London. The borough attracts commuters, families and first-time buyers seeking a good quality of life, affordability and accessibility to inner and outer London hubs. Bromley Town Centre becomes a new housing zone  Designated as one of the Mayor of London's official housing zones, Bromley Town Centre is set to receive £27m in funding to help it develop 1,468 new homes. The zone covers the whole of Bromley Town Centre and aims to create a thriving community of homes, shops, restaurants and offices around the Bromley North transport hub.[1] The borough's landmark development to date, is the £90m regeneration on the site of the council's former car park. Located opposite Bromley South Overground station, St Mark’s Square is a brand new residential and leisure quarter, centred round a landscaped public plaza. On completion in early 2018, there will be 200 private and affordable apartments along with a multiplex cinema, several restaurants, and a 130-bed hotel.[2] The Capital's most desirable place to live? Bromley was recently named London’s best place to live for value for money. In research carried out by CACI for Property Week, Bromley topped the list thanks to its house prices, average incomes and quality of life. The employment rate of its residents is second only to Richmond and Kingston upon Thames, and it outperforms all other boroughs for internet connectivity, schools, amenities and transport.[3] A commuter's dream While it may not have the London Underground, Bromley has many rail stations. From Bromley South it takes as little as 16 minutes to reach Victoria, and from Orpington takes under 30 minutes to get to London Bridge.[4]  Since the East London Overground line opened in 2010, commuters in the north of the borough can now get from Crystal Palace to Canary Wharf in just 23 minutes. A wide variety of property One of the biggest attractions for people moving to Bromley is the variety of property it offers. With a mix of Victorian, Edwardian and 1930s properties ranging from small cottages to large mansions, it appeals to all budgets. The new luxury apartments and modern new-build houses are popular with young professionals, and its good supply of small houses attracts young families from all over London. Offering a wide range of good schools The wide range and quality of Bromley’s schools is another key reason why many families relocate here. In recent SATS, children leaving primary school in Bromley achieved the second-highest results in London for reading, writing and mathematics. Bromley came in just behind Kensington and Chelsea at 70%, with 67% of its pupils reaching the required level compared to a national average of 53%.[5] Outstanding primary schools in the borough include BraesidePreparatory School, CroftonInfantsSchool and StewartFlemingPrimary School. Outstanding secondary schools include GlebeSchool, HayesSchool and NewsteadWoodSchool.[6] London's greenest borough Bromley has over 30 square miles of greenbelt countryside and over 7,000 acres of council-owned greenspace. The borough boasts over 160 parks, 52 allotments and 21 outdoor sports facilities.[7] Bromley’s largest and perhaps most famous park is Crystal Palace Park, a 200-acre Grade II listed facility. Formerly a Victorian pleasure ground, it is now used for cultural and sporting events and is undergoing significant regeneration. With £2.4m of funding from City Hall, there are plans to improve the park's landscape, restore or conserve its heritage buildings and develop an exciting new skate park.[8] High streets are getting a facelift Work is due to start on a £4.4m scheme to transform the High Street in Beckenham. To make the environment safer and more attractive, roads will be resurfaced, pavements widened and the pedestrian crossings improved at four major road junctions. New facilities for cyclists are being introduced; such as cycle stands, parking and a repair facility.[9] In a similar scheme to transform Bromley High Street, the design phase is nearing completion. Current asking prices and rental yields As of February 2017, the average value of properties in the London borough of Bromley is £478,378. It has increased 5.35% in the last 12 months and 42.91% in the last five years. For a two-bedroom flat, the average asking price is £389,018 and the average asking rent is £1,268pcm, which means the gross rental yield is currently 3.20%.[10] This content is correct as of February 2017