Knight Frank’s new homes team in London has ended the year on a record-breaking high, following a successful run of sales over the last 12 months.

Some of the new launches of 2022 included the Chelsea Botanica, Capella, The Powerhouse apartments at The Lots Road Power Station; Phase 2 of The Verdean in Acton, and the penultimate penthouse collection at One Park Drive in Canary Wharf.

Overall, the estate agency exchanged £855m worth of new home sales from January 2022 to December 2022 – a 35.6% increase from the past year.

Strong buyer interest and the end of Help-to-Buy were the key drivers of the new homes market throughout the year, with boomerang buyers returning to London and hybrid office/home work life in full force, post-Covid.

This in turn created a huge urban resurgence in areas like Canary Wharf, aided by the now fully functional Elizabeth line, where Knight Frank achieved over 55 sales with GSV of £82m-plus.

Raul Cimesa, head of London new homes at Knight Frank, commented: “I am extremely proud of the success achieved by our industry-leading new homes team despite the various headwinds we have seen throughout the year.  We have shown incredible resilience in an ever-challenging market, whilst the events from the past two months have increased the cost of financing and debt, I remain confident that London’s credentials as a global city and a financial hub, grouped with outstanding education opportunities will ensure that next year will be equally successful with the exciting new instructions that we will be launching across various parts of London.”

Knight Frank has been instructed on several highly anticipated phases and developments which are set to launch from January 2023, including Phase Two of the Television Centre, Hammersmith Town Hall, Hurlingham Waterfront, Wandsworth Mills, the final building at Southbank Place and Oxbow Phase 3 amongst others.

Cimesa added: “Looking ahead, the Knight Frank London new homes team is optimistic that the strong rental markets, strong buyer demand and the launch of several new schemes will continue to inject confidence into London’s residential new homes market in 2023.”