26 May New Southend-on-Sea development becomes 50% sold after just four months on the market
Knight Frank has achieved an average of six deals per week at Victoria Central since it launched, making it one of the fastest-selling new build developments of 2021
Victoria Central in Southend-on-Sea has become the latest new build scheme to be quickly snapped up after it was brought to the market just 18 weeks ago by global property consultancy Knight Frank. The £53.8 million residential-led scheme, developed by leading UK housebuilder Weston Homes, launched in mid-January 2021.
Now, just 4 months later, Victoria Central is over 50% sold – making it one of the fastest-selling new build developments of 2021.
Renowned for its sandy beaches and quirky character, Southend-on-Sea is a coastal haven, widely regarded as one of the UK’s best beachside resorts. However, it’s fast becoming more than just a popular holiday destination. According to Knight Frank, average property prices in Southend-on-Sea grew by almost 40% between 2015 and 2020, with migration into the popular seaside resort climbing by 19% the same period.
Edward Robinson, a Partner in the New Homes team at Knight Frank said: “Knight Frank has been averaging six deals per week at Victoria Central since it launched in January, which is equivalent to almost a deal a day. There is a very good reason why it has been so popular.
“Southend-on-Sea has been steadily growing in popularity over recent years, and is especially sought-after by first-time buyers, young professionals and families. Offering a quick commute into central London, coupled with an abundance of outdoor space and accessible property prices, homes in Southend-on-Sea are in high demand, and property is getting snapped up.
“Covid-19 has made everybody revaluate what they want from their next home, and golden locations such as Southend-on-Sea are more popular than ever.”
Property in Southend-on-Sea is still very affordable, despite the high demand. Analysis by Knight Frank shows that property prices here are approx. 41% lower than in London, where property costs an average of £484,864.
Located just a three-minute walk from Southend Victoria Station, Victoria Central is ideal for those looking to commute to London. Southend-on-Sea sits on the C2C and Greater Anglia train lines, which connect London’s Fenchurch Street and Liverpool Street stations with East London and Essex. When comparing like-for-like sales within a 2km radius of each train station on the C2C and Greater Anglia lines, Knight Frank found that Southend boasts the most affordable homes along these popular commuter routes.