New homes in Ealing

Jul 25, 2017
Why Buy New Homes in Ealing

Spotlight on Ealing

With five Crossrail stations opening in 2019, Ealing is changing rapidly. Major developers are investing throughout the borough, revitalising the town centres and creating many new homes. If you’re looking for property in a well-connected location with a vibrant entertainment and leisure scene, Ealing could be a great place to buy. Ealing records highest house price growth In March 2017, average asking prices in London hit a record high of £650,000. With buyers being priced out of central locations searching for better value and homes with more space on the Capital's fringes, the price growth is being driven by rising demand in the outer boroughs. And according to the latest house price index from Rightmove, of the five outer boroughs with the highest monthly rises, Ealing recorded the highest monthly growth of 6.3%.[1] A major reason for this is that Ealing has become one of the biggest Crossrail winners with five new stations. When the Elizabeth line arrives in 2019, this borough will have stations at Southall, Hanwell, West Ealing, and Acton Main Line – with Southall and West Ealing, in particular, tipped for strong growth.[2] Research from property group JLL suggests that property prices along the line are 16% higher than the Greater London average and 7% higher than property located by a non-Crossrail station. Southall Waterside – an ambitious new canalside development Possibly West London’s most overlooked area is the 88-acre brownfield site of the former gasworks in Southall. Lying derelict for almost 50 years, the site benefits from being part of the Mayor’s Southall housing zone which is helping to stimulate development. A regeneration masterplan has been approved, paving the way for 3,750 new homes over 25 years, along with up to 500,000 square feet of commercial space, a primary school and a health centre. Over half the site will be open space, with large swathes of landscaped public parkland, leisure and play areas, public squares, and a 1km waterside trail along the Grand Union Canal. Nearby Minet Country Park will be within easy reach via a network of cycle paths and walkways. Plus, the development is just minutes from Southall station, which is on the new Crossrail route. When trains start running here in 2019, journeys to Bond Street will take 17 minutes and to Canary Wharf just 30 minutes.[3] Park Royal to benefit from new transport super-hub Straddling the boroughs of Ealing and Brent, Park Royal is London’s largest business park. Occupying over 400 hectares, it’s home to more than 2,300 businesses and over 52,000 jobs across a range of sectors including food manufacturing, logistics, film and prop houses, and car repair.[4] And thanks to a huge infrastructure project that’s coming to the area, there’s potential for 14,000 more jobs and 1,500 new homes here over the next ten years.[5] In what’s perhaps the most crucial of all of London’s regeneration projects, the nearby railway depots and freight yards at Old Oak Common are to be transformed into a vast transport 'super-hub'. The only station where Crossrail will intersect with High Speed 2, it will serve an estimated 250,000 passengers a day – a massive boost to Park Royal. Due to be constructed by 2026, the station will be bigger than Waterloo offering ten-minute journeys to central London and Heathrow Airport.[6] Cinema-led regeneration of Ealing Broadway Eight years after the much-loved old Empire cinema in Ealing shut its doors, work has finally begun on its replacement. The council has worked tirelessly to bring back a cinema to Ealing Town centre and used compulsory purchase powers to assemble land to develop a new £100m cinema-led cultural quarter here. Due to open in 2019, the new eight-screen, 1000-seat Picturehouse cinema will sit on the same site as the old Art Deco Empire. As part of the project, in nearby Dickens Yard, 700 stylish new homes are already underway. There are also plans for another 160 apartments, shops, restaurants and a dazzling new town plaza – all designed to coincide with the arrival of Crossrail in the area.[7] Ethnically diverse with a rich cultural life Ealing is a melting pot of different cultures, home to thriving Irish, Polish and Sikh communities, giving the borough a vibrant feel. With such an eclectic mix of cultures and people, there are restaurants, bars and shops to suit every taste. And Ealing locals have an array of summer activity to enjoy on their doorstep. Ealing Summer Festivals put on blues, jazz, comedy, food and beer festivals and carnivals throughout July across a selection of Ealing’s best parks. Current asking prices and rental yields The current average value of properties in the London borough of Ealing is £598,922. It has increased 0.65% in the last 12 months and 41.78% in the last five years. For a two-bedroom apartment, the average asking price is £520,033, and the average asking rent is £1,739pcm, which means the gross rental yield is currently 4.00%.[8] This content is correct as of April 2017