In with the new

There's no doubt about it-new-build homes are increasingly popular. From convenience and preference for local materials to environmental benefits, Annunciata Elwes finds out why

- Annunciata Elwes

DESPITE the lamented shortages of everything from timber to glass, not to mention workers, which has hampered the completion of many a property this year, the popularity of new-builds appears to be steadily rising. In fact, research from global investment gurus JLL shows that annual reservations in Q1 2022 were up by 45%.

'Covid-19 highlighted the importance that you need to love where you live,' explains Maria Harikantra of JLL's capital markets team. In London at least, 'choosing to live in a new-build home has become a lifestyle choice, with the opportunity to become part of a wider community', as new-builds are often in 'neighbourhoods that are either already sought-after... or in regeneration areas that are fast evolving... [into] cultural hotspots'.

The working-from-home benefits are obvious and, although countryside developments often offer buyers more opportunity to tailor a home to requirements, many in the city contain meeting rooms, 24-hour concierges and gyms. The 88 New York-loft-style apartments at 101 on Cleveland, London W1, are a great example, with applicants up 25% in three months and 62% on last year. Interest has come from 'a range of buyers from students who want close proximity to university to frequent travellers who value connectivity,' adds Miss Harikantra. Prices start from $1.3 million, or from $4.2 million for the recently launched three-bedroom penthouses (www.101oncleveland.com).