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East London regeneration spreads with more property choice on the horizon

If you thought the redevelopment of east London was complete, think again. East London estate agents have hailed news that Barking Town Centre is set to become a new designated housing zone, with a share of £260 million promised by Mayor Boris Johnson. In a bid to address the chronic shortage of housing in London, the Mayor has revealed nine new designated housing zones (with another 11 expected to be announced this year), of which Barking Town Centre is one. Local councils are on board with the plan, promising quicker building applications (within 16 weeks) and committing to an investment in infrastructure, stations, roads and commercial development. So why is the Mayor's news good for all buyers of properties for sale in east London' The face of east London has changed radically ever since London won the bid to host the 2012 Olympics but the area's new-found appeal appears to be enduring - and spreading - comment our east London estate agents. Properties for sale in east London already have a massive audience and prices have been rising dramatically. In fact, Rightmove reveals that east London house have risen 22% since 2012 - pointing to a love affair that is outlasting the Olympic legacy. A greater supply of new homes will address the demand/supply situation. Many areas that find new levels of desirability kick start something known as the 'ripple effect' - where home movers start looking outside of core areas for property. With many houses and flats for sale in east London - especially in areas such as Bow, Shoreditch, Stratford, and Hackney - exceeding desirability levels ever expected, there is an inevitable shift of focus -often led by competition among buyers and a search for increased value-for-money. For others, there is a need to be 'ahead of the curve' and find locations that are yet to take off. Barking Town Centre is one of these locations, with relatively affordable property prices, good transport links and now a period of intense regeneration that will bring over 2,000 new homes, cultural and leisure facilities, a cinema and a creative arts hub - continuing east London's tradition for fostering artistic flair. A third of the new homes built will be at affordable prices. The development of Barking will increase fluidity and choice for all buyers and sellers across east London, and will cement the area's status as a must-consider destination among movers in the UK and from overseas. If you would like to know more about current properties for sale in east London, or a have a house or flat in the area you wish to sell, contact Winkworth today.

If you thought the redevelopment of east London was complete, think again. East London estate agents have hailed news that Barking Town Centre is set to become a new designated housing zone, with a share of £260 million promised by Mayor Boris Johnson.

In a bid to address the chronic shortage of housing in London, the Mayor has revealed nine new designated housing zones (with another 11 expected to be announced this year), of which Barking Town Centre is one. Local councils are on board with the plan, promising quicker building applications (within 16 weeks) and committing to an investment in infrastructure, stations, roads and commercial development.

So why is the Mayor's news good for all buyers of properties for sale in east London' The face of east London has changed radically ever since London won the bid to host the 2012 Olympics but the area's new-found appeal appears to be enduring - and spreading - comment our east London estate agents. Properties for sale in east London already have a massive audience and prices have been rising dramatically. In fact, Rightmove reveals that east London house have risen 22% since 2012 - pointing to a love affair that is outlasting the Olympic legacy. A greater supply of new homes will address the demand/supply situation.

Many areas that find new levels of desirability kick start something known as the 'ripple effect' - where home movers start looking outside of core areas for property. With many houses and flats for sale in east London - especially in areas such as Bow, Shoreditch, Stratford, and Hackney - exceeding desirability levels ever expected, there is an inevitable shift of focus -often led by competition among buyers and a search for increased value-for-money. For others, there is a need to be 'ahead of the curve' and find locations that are yet to take off.

Barking Town Centre is one of these locations, with relatively affordable property prices, good transport links and now a period of intense regeneration that will bring over 2,000 new homes, cultural and leisure facilities, a cinema and a creative arts hub - continuing east London's tradition for fostering artistic flair. A third of the new homes built will be at affordable prices.

The development of Barking will increase fluidity and choice for all buyers and sellers across east London, and will cement the area's status as a must-consider destination among movers in the UK and from overseas.

If you would like to know more about current properties for sale in east London, or a have a house or flat in the area you wish to sell, contact Winkworth today.

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