Savvy buyers that are often first-time purchasers or second steppers are increasingly flocking to the Capital's outer boroughs in zones 3-5 for more space, value for money and a great combination of a 'village feel' with the city on their doorstep.
The growing trend is having a significant impact on housing values across these boroughs, some of which have seen an uplift of up to 17 per cent - three times the national average. According to recent Land Registry data, the London Borough of Harrow falls within the top five of all best performing London boroughs for increases in values, experiencing an average of 16 per cent. As well as being a key regeneration area and selected as a designated opportunity area for further investment and growth by the Mayor, Harrow is undergoing significant transformation.
Improvements to the local area and enhanced transport links have helped to make new build developments such as St Edward's Stanmore Place highly desirable. In the last nine weeks alone nearly half of the first core of a new wave of homes at Royal Crescent, its most recent phase, have already sold.
When complete Royal Crescent will boast a contemporary collection of 103 one, two and three bedroom apartments and penthouses spread across an architecturally striking building, overlooking luscious gardens and a stunning water feature. The Stanmore area is undergoing major regeneration, while the marshes, a scenic retreat, will receive investment of £175,000 by the Mayor of London as part of a programme to preserve green spaces.
Tim Pettman, Sales Director, St Edward, comments: "Harrow has been a hidden gem amongst London's boroughs for years and a new wave of young Suburbanites have been drawn to Stanmore Place for its contemporary open plan apartments and great on-site facilities, including 24 hour concierge and a residents only gymnasium.
"After years sharing with friends, many young city dwellers now crave a new lifestyle in leafier areas within close proximity to central London. Stanmore Place also offers a blissful suburbia for those raising families with a play area for children and green open spaces."
Royal Crescent has been a popular addition to Stanmore Place which has become one of the most desirable addresses in North West London. The development will comprise 789 new homes when complete, set around beautifully landscaped grounds.
This autumn the area is set to benefit from the 24 hour night service on the Jubilee line running to nearby Canons Park underground station from September.