London needs more homes. Woefully undersupplied, there are few places remaining in London able to deliver the required quantity of new homes in areas with excellent transport links and attractive amenities.

We examine a handful of selected areas in the East where new development is likely to provide the greatest opportunity to buyers. This includes areas where there has been little historical supply such as Hackney Wick & Barking, as well as better known and more popular areas like City Fringe, Stratford, Greenwich, Royal Docks, and Canary Wharf where development and regeneration are already well underway and schemes are achieving strong sales rates.

The East of London has the potential to deliver thousands of homes over the next few years, alongside exceptional transport links, including various Tube lines, the Overground, the DLR, and the forthcoming Elizabeth line (Crossrail 1).

On the doorstep of London’s historical finance and business centre, the City Fringe is a sought-after residential area for professionals from various industries. With the expansion of Silicon Roundabout, the area also benefits from a high-skilled labour force and investment into digital-creative businesses. Due to its central location, the City Fringe area is incredibly well connected to both the West End and the East with Overground and Underground facilities.

There are currently 10 sites under construction delivering a total of 2,785 private units, including anticipated schemes such as Landmark Place by Barratt and 10 Trinity Square by Reignwood, due to complete between Q1 2017 and Q2 2018. With over 1,300 private units, London Dock by St George will be the largest scheme in the area. An additional seven sites have planning permission, with the potential to provide 574 new private homes.

Hackney Wick is a cultural and artistic hub, with one of the highest concentrations of artists in Europe. Its Overground station is located only three minutes from Stratford Station, giving commuters access to two Underground lines, the DLR, National Rail, and the forthcoming Elizabeth line. It is ideally located and is currently experiencing a growth in residential sales as purchasers realise its potential.

Having seen little development in the past, this area now has two developments under construction with a total of 130 private homes, expected to complete between late 2017 and 2018. This includes the Weston Homes scheme The Foundry, which will launch in spring 2017 and provide 91 private homes. There are an additional eleven schemes which have planning consents showing the long-term appeal for the area.

The most significant consented scheme is Fish Island Village by Peabody (Neptune Wharf), providing over 500 private homes for rent and sale and 5,300sqm of commercial space, with expected first completions in early 2018. Well-designed mixed-use schemes such as these have the potential to act as a catalyst for local business growth, whilst simultaneously preserving the area’s unique artistic culture and identity.

Located approximately 30 minutes from Liverpool Street Station Barking is not only well connected, but it also sits within the most affordable borough in London, with an average property price of £276,000.

Whilst there are ten sites with planning permission in the town centre, only one is under construction, indicating that redefining this local area is a medium-term project. The redevelopment of the Gascoigne Estate, (1,575 new homes, 669 of which will be private) is the most significant change occurring in the area, due to the scale of the project. Phase 1 (51 private homes) is underway and due to complete in 2019.

The largest development in the area is Barking Riverside, potentially providing up to 10,800 new homes, 3,000 of which are earmarked for the rental market. As at Q3 2016, Bellway completed phases 1, 2, 3, 4 and 5, and all 306 new homes sold out. Phase 6 (200 new homes) was launched in August 2016 and a total of 80 homes were sold by the end of September. L&Q is expected to replace Bellway as lead developer on future phases. Crucial to the success of the overall development is the new railway line and a new station which will vastly improve connectivity, but funding has not yet been secured.

The 2012 Olympic Games put Stratford firmly on the map, transforming the area into a centre for retail (with Westfield shopping centre), business, and leisure. The area continues to thrive, with plans to create a cultural and education district on the Olympic Park which will include a university campus for UCL and major new spaces for the Victoria & Albert Museum and Sadler’s Wells. Stratford Station – soon also to be served by the Elizabeth line – makes the area undoubtedly one of the best connected in London, with travel times of less than 15 minutes to Bank Station.

There are currently nine schemes under construction, including phases of Chobham Farm, East Village and Chobham Manor due to complete in August 2016, summer 2018 and early 2017, respectively (1,095 new private homes). In April 2016, it was announced that Qatari Diar, Delancey and APG created a £1.4bn rental business, encompassing East Village, the former Olympic athletes’ village.

Greenwich has seen strong sales rates over the past months, with delivery of new homes concentrated in both Greenwich town centre and Greenwich Peninsula. The town centre has six schemes under construction, providing 629 new private homes. Another three sites have planning permission (198 private homes).

The Greenwich Peninsula development by Knight Dragon Developments, has permission for over 15,720 new homes, of which 1,889 are currently under construction (completing between autumn 2016 and late 2018). Strong sales rates achieved over the last two years have primarily been driven by realistic pricing across a variety of product, as well as extensive placemaking and attractive amenities, including a 5km running track, 2.5km of river frontage, 48 acres of parkland, film studios and two new schools. The wider scheme also benefits from a wide range of different transport links, including the Jubilee line at North Greenwich station, the Elizabeth line at Canary Wharf station, and river boat services.

^{▲ The Greenwich Peninsula development}

Similar to Greenwich, Royal Docks and Canning Town have had high rates of off-plan sales over the past two years. The area will also benefit from the arrival of the Elizabeth line at Custom House, the recently approved expansion of London City Airport, and the progress of the ABP development which aims to transform Royal Albert Dock into a new business centre.

ABP is set to start the first phase of its flagship development in late 2016. The wider development will stretch over 440,000sqm – with 20% dedicated to residential – and is expected to cost up to £1.7bn. Works on Phase 1 are due to commence by the end of 2016 with first completions expected in 2018.

There are currently nine sites under construction in this area, with a further seven with planning permission. One of the most notable schemes is Royal Albert Wharf by Notting Hill Housing (providing over 800 new homes). Phase 1 of the development – due to complete by the end of 2016 – will deliver 123 private and 73 rental homes.

Home to one of Europe’s major business and finance districts, Canary Wharf has been an epicentre for new development in London, with strong sales rates throughout 2015. Canary Wharf boasts a vibrant tech and start-up scene, with Level39, Europe’s largest technology accelerator, paving the way for new fintech innovators.

There are currently 17 sites under construction with a total of over 6,800 private homes. This includes three phases of Wood Wharf, with the first residential phase due to complete in late 2019, and Maine Tower which is expected to complete the same year.

Despite a strong pipeline, it is possible developers may decide to delay launches or construction starts in light of uncertainty around the Referendum vote. Developers and house builders could also add supply to the rental and serviced accommodation markets, as an option to diversify and de-risk their exit routes across their delivery pipelines.