New Rightmove data revealed Tower Hamlets as the only London borough to see house price growth in the first month of 2023.
And this comes just as Vetro, Rockwell’s landmark 30-storey luxury residential development, completes in Westferry, at the gateway to Canary Wharf in Tower Hamlets.
New Rightmove data shows Tower Hamlets house prices are performing best out of all areas in the capital.
The 1.1% growth seen in Tower Hamlets, compared with an average of just 0.2% across London and]Tower Hamlets has also seen strong annual growth in house prices: almost 5% year on year and is one of only three boroughs to see growth across London in January 2023: the others are Hammersmith and Camden.
House prices in Tower Hamlets have benefitted from the recent opening of the Elizabeth Line. This comes as the first high-rise luxury residential development of the year, Vetro, is completed in Canary Wharf, where a 10-year derelict site has been regenerated into a luxury mixed-use development.
Tower Hamlets’ performance aligns with the end of the ‘race for space’ phenomenon, with the number of Londoners buying homes outside the capital back to pre-pandemic levels.
Designed by the architects behind Battersea Power Station and One Blackfriars, Vetro has post-pandemic living at its core, with flexible living spaces and gym, sauna, cafe, pocket park, podium gardens, and more
Elizabeth Line opening adds to the site’s exceptional cross-London connectivity: situated next to Westferry DLR, 2 mins to Canary Wharf, 20 to the City and under 60 to Heathrow Airport.