Affordable Homes

Home hunters inrease demand in Barking

Barking

According to research published by Zoopla, Barking and Dagenham is London’s most in-demand borough, with enquiries into homes 168% higher than the rest of the capital¹. With an average property value of £300,000² and fast transport links into central London, it is no surprise that purchasers are becoming savvy to the excellent investment that the area can offer. Working together to supply this demand, East Thames, part of the L&Q group and Barking and Dagenham Council are launching the first phase of Weavers Quarter this autumn. The project will deliver 470 brand new homes

Weavers Quarter is an ambitious regeneration project, transforming the Gascoigne Estate to create over 1,500 new homes. Set for phased completion from 2018 to 2024, the redevelopment will bring £300 million worth of investment into Barking town centre. At the heart of the development will be a new community, including a 690-pupil primary school, a 1,850-pupil secondary school, a community centre and public and green spaces incorporated throughout.

The development will offer a collection of one to three bedroom homes, available with the shared ownership scheme. Ideal for those keen to step onto the property ladder, the scheme allows buyers to purchase the percentage of a home that they can afford and pay a subsidised rent on the remaining share. It is possible to buy additional shares of the home at any time, increasing the owned proportion of the property.

Tony Harker, Director of Sales and Marketing for East Thames said, “With some of the most affordable house prices in the capital, it is hardly surprising that the demand for homes in Barking and Dagenham is so high. We are delighted to be launching Weavers Quarter in autumn 2017, which will transform the Gascoigne Estate, creating an attractive new neighbourhood for the community. Savvy purchasers will recognise the potential for investment within this regeneration scheme.”

Weavers Quarter is well-placed to enjoy local restaurants, bars and amenities, including a gym, shopping centre and a theatre. For further entertainment and leisure opportunities, Barking boasts excellent links into London. Barking station is less than half a mile from Weavers Quarter, connecting to the City in just 15 minutes’. The station also connects directly to Westminster on the District line in less than 40 minutes and to Liverpool Street on the Hammersmith & City line in only 25 minutes. The station also provides an Overground service. Bus services are regular, taking passengers further into Barking and central London, while residents can reach the M25 in less than 15 minutes by car.

For more information and to register your interest, please visit weaversquarter.co.uk

¹ zoopla.co.uk/market/barking-and-dagenham-london-borough/?q=Barking%20and%20Dagenham%20%28London%20Borough%29%2C%20London

2 zoopla.co.uk/discover/property-news/humble-garage-helps-boost-a-home-s appeal/#IBL529E6L2g0muGU.97

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