New build price in London

Ybe

Is 340k a good price for a new build 1 bed in London with outside space and 435 square feet of internal floor space? The developers are currently offering a 10k deposit contribution and £1000 towards stamp duty if purchased off plan. Comparing to other new builds in the area, there’s a studio with 410 square feet of internal space and no outdoor space for 350k. With regards to resales, the average price for 1 beds is 325k. 

GDB2222

Where in london?

Ybe

GDB2222 said:

Where in london?

North London Zone 3/4 boundary. Right next to a tube station. 

confusedpete

London property values can vary buy hundreds of thousands of pounds within a couple of roads. No one can guide you without specifics. 

GDB2222

As Pete says, where is it?  Where you described could be Hampstead, or somewhere much less pricey. 

Ybe

GDB2222 said:

As Pete says, where is it?  Where you described could be Hampstead, or somewhere much less pricey. 

Finchley. 

GDB2222

I can find 800 sq ft two beds with asking price of £370k, but not new build. That's Aylmer Parade. 

You are buying half that space, for much the same price, but brand new, and possibly ina better location. Or possibly not. Who knows.

Ybe

GDB2222 said:

I can find 800 sq ft two beds with asking price of £370k, but not new build. That's Aylmer Parade. 

You are buying half that space, for much the same price, but brand new, and possibly ina better location. Or possibly not. Who knows.

About 40k less. This one is also a lot further from the tube (0.5 miles vs 0.1 miles). 

GDB2222

Ybe said:

GDB2222 said:

I can find 800 sq ft two beds with asking price of £370k, but not new build. That's Aylmer Parade. 

You are buying half that space, for much the same price, but brand new, and possibly ina better location. Or possibly not. Who knows.

About 40k less. This one is also a lot further from the tube (0.5 miles vs 0.1 miles). 

The price difference is not that much, as I imagine that the sellers of the 2 bedder will look at offers. Anyway, you clearly have access to Rightmove, and you can do your own research. 

To be frank, I am not sure what sort of response you would like to have? Most new builds are expensive compared to secondhand properties, but you must know that already. 

okigen

Price in London can vary wildly within 10 minutes walk, so best thing is to look on sold price of similar properties. Personally I wouldn't pay that much for Finchley, but maybe it's just me.

Ybe

GDB2222 said:

Ybe said:

GDB2222 said:

I can find 800 sq ft two beds with asking price of £370k, but not new build. That's Aylmer Parade. 

You are buying half that space, for much the same price, but brand new, and possibly ina better location. Or possibly not. Who knows.

About 40k less. This one is also a lot further from the tube (0.5 miles vs 0.1 miles). 

The price difference is not that much, as I imagine that the sellers of the 2 bedder will look at offers. Anyway, you clearly have access to Rightmove, and you can do your own research. 

To be frank, I am not sure what sort of response you would like to have? Most new builds are expensive compared to secondhand properties, but you must know that already. 

Indeed I know most new builds are expensive. I just want to determine if it is the right price to pay for a new build and what the premium should be.