New Build Investor Guide – Brent, London
Apr 2021
Buying a new build property off plan? Check out our Area Guide first
Are you considering purchasing a new build, off plan property in Brent? Want to get the latest information on house prices, demographics and other useful information before you commit to a deal?
Our Area Guides give you the latest relevant information from local governments, the Census and the Office of National Statistics (ONS) data. They’re designed for offshore, new build property investors to help you understand an area in detail so you can make informed investment decisions.
Read on for investor details specifically about Brent but if it’s more detail about the wider UK property market you need, you can download our latest report here. In our report we address two key questions:
1 Is investing in UK residential property still worth it?
2 If so, where are the best opportunities for property investors and why?
Brent, London
Brent is one of 32 London Boroughs, is located in north west London and spans over 16 square miles. It borders the boroughs of Harrow to the north-west, Barnet to the north-east, Camden to the east, the City of Westminster to the south-east, as well as the Royal Borough of Kensington and Chelsea, Hammersmith and Fulham and Ealing to the south.
The borough is home to the world famous Wembley Stadium and includes the districts Alperton, Brondesbury Park, Kilburn, Stonebridge and Wembley.
Wembley Stadium at sunset
Demographics
Brent’s population is forecast to grow by 12.6% by 2030
| Population (2018) | 336,859 |
| Forecast Population 2030 | 382,415 |
Source: data.london.gov.uk
Economically Active Population
A largely young, diverse, mobile population.
| Age Range | Percentage of population |
| 16 – 64 | 67% |
| Under 15 | 21% |
| Over 65 | 12% |
| Martial Status: | |
| Single | 42% |
Source: data.london.gov.uk
Average Life Expectancy
The average life expectancy for those born in Brent between 2016 and 2018 is the 11th and 7th longest in London for both males and females respectivley.
| Males | 81 (UK average is 79) |
| Females | 85 (UK average is 83) |
Source: ons.gov.uk
Population Density (2011)
Brent is the 14th most densely populated of the 33 London Boroughs, with 7,628 people per km2.
Source: ons.gov.uk
International Migration (2018-19)
8,801 new residents from overseas, the 6th highest of all London boroughs.
Source: ons.gov.uk
Country of Birth
| Location of Birth | Proportion of Population |
| UK and Ireland | 48% |
| EU | 11% |
| Other countries | 41% |
Source: data.london.gov.uk
Crime & Safety
| Crime Numbers (April 2017 – March 2018) | 29,201 |
| Crime rate per 1,000 population (April 2017 -March 2018) | 89 |
| Brent has the 12th highest crime rate per 1,000 people of all London borough’s |
Source: data.london.gov.uk
Education
Schools
| Primary Schools | 86 (19 of which have an Ofsted rating of outstanding) |
| Secondary Schools | 29 (8 of which have an Ofsted rating of outstanding) |
| Schools and Colleges (16-18 years) | 24 (8 of which have an Ofsted rating of outstanding) |
Source: compare-school-performance.service.gov.uk
Universities
Hospitals
Northwick Park Hospital
Central Middlesex Hospital
General Wellbeing
| Population considering themselves in very good health | 48% |
| Population considering themselves in very bad health | 1% |
Source: data.london.gov.uk
Employment & Economy
69% of working aged people employed (compared to 75% across England 74% across London).
Top 4 Sectors of Employment
| Distribution, hotels and restaurants | 22% |
| Public administration, education and health | 21% |
| Finance, banking and insurance | 18% |
| Transport and communication | 13% |
Source: data.london.gov.uk
Major Employers
In 2020, there were 45 companies the borough employing more than 250 people and 165 companies employing between 50 and 249 people. (source: nomisweb.co.uk)
Jobs and Job density
Approximately 42,991 residents of Brent also work in the borough. 46,838 people travel into the borough each day for work and 75,827 residents work outside the borough. The daytime population of borough therefore decreases by 28,989 people each day. (source: data.london.gov.uk).
| Median Gross Annual Pay for full-time employee jobs (2017) | £31,365 |
| Number of jobs in the borough (2019) | 92,000 |
| Jobs per resident | 0.49 (London average 1.03 and UK average 0.87) |
Source: nomisweb.co.uk and data.london.gov.uk
Housing
| Number of residential properties in Brent | 119,890 |
Source: data.london.gov.uk
Property Ownership (2018)
| own property outright (no mortgage) | 17% |
| own property with mortgage | 25% |
| rent from a Housing Authority or the Local Authority | 22% |
| rent from a private landlord (representing approximately 35,000 private rentals) | 36% |
Source: data.london.gov.uk
| Household with no car or van (2011) | 43% |
Source: nomisweb.co.uk
Household Composition
| One person households | 28% |
| One family households | 51% |
| Other (sharers / students etc) | 12% |
Source: nomisweb.co.uk
Average House Prices
House prices in Brent are the 15th most expensive of all London boroughs, with the average achieved price from January 2020 to January 2021 increasing by 21.2%, this is the largest increase across all 33 London boroughs within the same period.
| Average achieved price January 2020 | £428,560 |
| Average achieved price January 2021 | £519,355 |
| Increase/Decrease | +21% |
Source: www.gov.uk
Volume of Sales
During the COVID pandemic, the number of property transactions fell by 7%. The 2nd smallest decline of all London boroughs.
| Number of residential sales to year ending September 2019 | 1,569 |
| Number of residential sales to year ending September 2020 | 1,467 |
Source: ons.gov.uk
Achieved Rents (January to December 2020)
Mean monthly average rents in the borough:
| London Median Rents (per calendar month) |
Brent (per calendar month) |
|
| Studio | £950 | £900 |
| 1 bedroom | £1,200 | £1,163 |
| 2 bedrooms | £1,450 | £1,430 |
| 3 bedrooms | £1,750 | £1,800 |
Source: london.gov.uk
New Build Developments in Brent
New Build apartments under construction
Several notable developments in Brent are currently on the market, some of which have been launched in Asia and the Middle East.
Grand Union (St George)
| Total Number of Apartments | 2,900 (1,885 private) |
| First Launched | July 2019 |
Average Prices – Grand Union
| Minimum | Average | Maximum | |
| Price | £350,000 | £640,763 | £865,000 |
| Price per ft² | £615 | £740 | £995 |
| Area (ft²) | 427 | 879 | 1,173 |
source: Molior
| Minimum | Average | Maximum | |
| 1 Bedroom | £350,000 | £445,625 | £517,500 |
| 2 Bedroom | £525,000 | £592,522 | £698,000 |
| 3 Bedroom | £692,500 | £786,154 | £865,000 |
source: Molior
First Central, Park Royal, Regency Heights (Fairview New Homes)
| Total Number of Apartments | 807 (544 private) |
| First Launched | April 2019 |
Average Prices – First Central, Park Royal, Regency Heights
| Minimum | Average | Maximum | |
| Price | £350,000 | £470,364 | £645,000 |
| Price per ft² | £575 | £688 | £791 |
| Area (ft²) | 487 | 695 | 1,107 |
source: Molior
| Minimum | Average | Maximum | |
| Studio | £350,000 | £364,667 | £374,000 |
| 1 Bedroom | £350,000 | £395,037 | £565,000 |
| 2 Bedroom | £448,000 | £600,000 | £600,000 |
| 3 Bedroom | £590,000 | £645,000 | £645,000 |
source: Molior
No. 10 Watkin Road (Barratt London)
| Total Number of Apartments | 229 (157private) |
| First Launched | March 2020 |
Average Prices – No. 10 Watkin Road
| Minimum | Average | Maximum | |
| Price | £380,000 | £505,136 | £649,000 |
| Price per ft² | £641 | £795 | £936 |
| Area (ft²) | 409 | 653 | 999 |
source: Molior
| Minimum | Average | Maximum | |
| 1 Bedroom | £380,000 | £421,182 | £435,000 |
| 2 Bedroom | £539,000 | £568,125 | £579,000 |
| 3 Bedroom | £640,000 | £645,000 | £649,000 |
source: Molior
Environment, Leisure & Culture
Brent has a host of attractions, leisure and cultural facilities including many parks and open green spaces, from formal Victorian gardens to more than 1,000 acres of public open space including Fryent Country Park.
Attractions include:
Wembley Stadium
Wembley Arena
Over 100 parks and open spaces
6 libraries
London Designer Outlet shopping mall
Transport
Brent’s underground and overground stations are in Zones 2, 3 & 4. The borough has a total of 21 Underground stations, the second highest out of all London boroughs, being second to Westminster which has 32, all of them are surface level, with the exception of Kilburn Park tube station.
Overground Stations
| Brondesbury | Brondesbury Park |
| Harlesden | Kensal Green |
| Kensal Rise | Kenton |
| North Wembley | Queens Park (London) |
| South Kenton | Stonebridge Park |
| Sudbury & Harrow Road | Wembley Central |
| Wembley Stadium | Willesden Junction |
Underground Stations
| Alperton (Piccadilly line) | Dollis Hill (Jubilee line) |
| Harlesden Station (Bakerloo line) | Kensal Green Station (Bakerloo line) |
| Kenton (Bakerloo line) | Kilburn Park Station (Bakerloo line) |
| Kilburn Station (Jubilee line) | Kingsbury (Jubilee line) |
| Neasden Station (Jubilee line) | North Wembley Station (Bakerloo line) |
| Northwick Park (Metropolitan line) | Preston Road (Metropolitan line) |
Local Government
The Labour Party
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