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Constable

London Ec1

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I live in EC1 (on the western edge of the City of London) and in the last 15 years the area has been transformed by the building of new apartment blocks and the conversion of warehouses into trendy flats. The area is very mixed, comprising of city workers and media types, but also a large proportion of people in council accommodation (some very big blocks around here).

The pace of development has slowed in the last couple of years but prices are still very high (a typical small but decent 2 bed flat costs about £500k - I rent one).

I'm surprised that new building projects are going ahead. Sooner or later there must be an oversupply of these kind of properties where these prices can be supported, especially given the state of the economy, unemployment, wages, inflation etc.

These are a couple of the new developments close to me... both are joint projects with housing associations/councils and provide about half of the flats for "social-rented" (I'd love to know who gets these places)...

City-Road-6-181x310.jpg

http://www.ardmoregroup.co.uk/project/city-road/

central_street_cgi_detail.jpg

http://www.centralsquarelondon.com/

Eagle House is a huge new block near Old Street roundabout - work stopped on this last year and has not restarted. Pigeons seem to have made it their home for the time being...

curtins__1269858969_Eagle_House_2.jpg

http://www.islingtontribune.com/news/2010/nov/irish-banking-crisis-threatens-%C2%A358m-landmark-project-city-road

Edited by Constable

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Hi Constable, I live in the same area - just off Whitecross Street.

Is Central Square the development on Central Street?

One of the reasons property prices are high in this area is there is not very much private property if you ignore the Barbican and the Golden Lane Estate.

Most is Council/HA.

Great area to live.

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Hi Constable, I live in the same area - just off Whitecross Street.

Is Central Square the development on Central Street?

One of the reasons property prices are high in this area is there is not very much private property if you ignore the Barbican and the Golden Lane Estate.

Most is Council/HA.

Great area to live.

Yes it is. Another one has started next to it too...

seward_street_detail.jpg

http://www.mountanvil.com/en/our_developments/index.cfm/did/56A2F17D-13A8-4831-85EF2E77F69FFA8B

I love the area too. I live just the other side of Old Street close to St Luke's church (LSO).

Edited by Constable

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  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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