Weston Homes reports that investing in a new build house or apartment could help buyers combat the rising cost of living. New research based on Government Energy Performance Certificate data has found that buyers of a new build apartment will save an average of just over £2,000 a year in energy bills. The report ‘Watt a Save’, published by the Home Builders Federation (HBF), shows that in total, last year’s new build purchasers are saving more than £500m on annual energy bills, with new build homes emitting a third of the carbon of an older property, reducing carbon emissions by over 500,000 tonnes.
With sales soaring at Weston Homes’ recent developments such as Abbey Quay in Barking where 85% of homes in the first phase have sold, the appeal of lower household bills, more outdoor space and access to a thriving community is encouraging buyers to snap up these more sustainable living opportunities.
Abbey Quay is a new £350 million (GDV) development which forms part of the 440-acre Barking Riverside masterplan and presents the perfect opportunity for buyers to secure a new home within London’s hottest new area. The 6-acre riverside urban village will provide 1,089 elegant yet affordable homes. The development, consists of striking contemporary buildings, ranging from seven to 29 storeys including Loxford Plaza, a large public square overlooking the River Roding with a pavilion restaurant, outdoor seating, and river views.
With housing accounting for 40% of the UK’s energy use it is imperative that this energy is used efficiently. 84% of new build homes have an A or B rating for energy efficiency compared with less than 4% of existing properties, according to Government EPC research and data. The average new home uses an approximately 100kwh/m2 per year as opposed to 259kwh/m2 per year in older homes.
New and sophisticated insulation methods are a key factor in reduced energy bills. Abbey Quay is being constructed with British Offsite UNI Panel, a precision factory-made panelised wall system which provides excellent insulation levels wrapped tightly around the building, resulting in a thermally efficient and airtight home.
The Weston Homes design team carefully considers every element of their homes from insulation to airtight junctions and glazing to heating specifications, all in a bid to optimise energy efficiency. The less heat energy that escapes, the less energy is required from the heating system, reducing both CO2 emissions and running costs.
New build properties are associated with incurring less unforeseen costs than even relatively modern existing homes. They are bound by the UK Building Regulations giving peace of mind to homeowners. Each property is also covered by a two-year builder’s warranty followed by an eight-year structural warranty and there’s a customer services team a phone call away should there be any problems. Safety and security have been kept in mind at Abbey Quay, and homes are built with the inclusion of smoke alarms, carbon monoxide detectors and automatic sprinkler systems.
According to a recent YouGov survey 33% of British home buyers say the pandemic has made having a garden more important to them, with 25% of buyers seeking access to more green space than they currently have. Weston Homes report that part of what makes the area so attractive is the abundance of green space, with over 25% of the borough being made up of public parkland.
The public parkland includes The Chase, a 120-acre nature reserve complete with horse-grazed meadows, marshland, ponds, and woodland scrub alongside the new public green areas and riverside walkways that will be created at Abbey Quay. Abbey Quay is adjacent to Abbey Green, an area of parkland surrounding the historical ruins of Barking Abbey, which makes for a beautiful spot to exercise and picnic in the summer.
With many households now opting to entertain and socialise at home, buyers are keen to embrace spacious, open plan living. All apartments in Abbey Quay feature open plan kitchen and living areas, opening out onto step out balconies, providing a central hub for relaxing and entertaining. Weston Homes properties offer a market leading fully inclusive specification in every property to minimise those ‘start up’ costs of buying a home.
Kitchens are equipped with integrated fridge/freezer, washer/dryer and dishwasher, with energy saving ceramic hobs. These products have been chosen for their energy and water efficiency as well as their performance to help reduce CO2, waste and running costs. At Abbey Quay buyers have the choice of quartz stone kitchen worktops and a wide range of designer Oakwood Kitchen units.
Suzanne Aplin, Group Sales & Marketing Director at Weston Homes says “The energy crisis is highlighting starkly the efficiency benefits and cost savings provided by new build homes. Energy efficiency is a growing priority for house hunters and the financial savings clearly demonstrate why. Abbey Quay brings aspirational waterfront living to Barking as well as providing an exceptional opportunity to purchase an energy efficient, affordable home, whilst being secure in the knowledge that buyers are saving money in the face of the cost-of-living crisis by investing in a new build home.”
Prices at Abbey Quay start from £332,000 for a one-bedroom apartment and from £405,000 for a two-bedroom apartment.
