What impact will the Canada Water Masterplan have on existing property values?

Now that the Canada Water Masterplan has been unanimously approved by councillors, we wanted to reassure local residents about their existing property values as we’ve had a lot of questions and general uncertainty about the development.

Views on the massive £3.3 billion development seem to be mixed among local residents and businesses, so we’d like to clear up any concerns you might have.

Current homeowners have nothing to worry about. According to LSE, new housing developments in the UK generally do not lower property prices in the surrounding areas.

If anything, we predict that property prices will rise in the area, given the increased popularity the new development will bring, the excellent transport links and the soon to be improved local amenities, not to mention the hundreds of new jobs Southwark Council has promised.

Our perspective seems to match the consensus that other small local businesses have come to – that overall, the Canada Water Masterplan will be a good thing, bringing new buyers into the area, creating new communities and increasing foot traffic for local firms.

Some residents worry that current amenities will not be able to cope with the influx of new people living in the area. However, this is not taking into account the new shops, offices and public spaces the Masterplan will provide.

No matter what is thrown at SE16; the Masterplan, Brexit, political uncertainty, its community values and local businesses have remained strong and the same can be said about the property market.

SE16 has been undergoing regeneration for years already, with multiple new developments being built including Marine Wharf, where our office is based, and the latest addition; Royal Mint Gardens.

The market is still active as people still want to live in SE16 – the Canada Water Masterplan could even be considered a factor in this.

If you have any questions about the Canada Water Masterplan or the property market in and around SE16, feel free to pop us an email at welcome@living-london.net, or call us on 020 7231 0002 and we’d be happy to assist.