Knight Frank’s London City and East team have seen a significant uptick in demand this month for new homes on the Wood Wharf Estate in Canary Wharf. Over the last month the team has secured a total of 10 sales with a combined Gross Sales Value of in excess of £11m – a statistic not to be overlooked and one which certainly highlights the trend of buyers looking to take stock of the current market and commit in advance of next month’s General Election, whilst others perhaps await the outcome.

Despite the political uncertainty and frustrating lack of downward movement in interest rates, rarely has it been a better time to be a buyer in recent years. With recent data produced by Knight Frank showing that buyers have only faced less competition once during the last five years, two months after the mini-Budget in December 2022

Sophie Davies, Partner at Knight Frank’s City and East new homes team said; “Canary Wharf offers a lifestyle that’s increasingly attractive to all, not just finance professionals. The area’s evolution from a business hub to a thriving mixed-use neighbourhood has been remarkable. The unparalleled work-life balance offered by Canary Wharf is a significant draw for buyers. With major financial, life science and tech companies on the doorstep, residents enjoy proximity to work that is hard to match all of which is complemented by a carefully curated selection of leading retail, F&B and leisure operators which people from across London come to visit.

Buyers are increasingly drawn to Canary Wharf’s unique proposition,” Davies adds. “It offers the excitement of city living with the convenience of a carefully planned neighbourhood, whose accessibility has been made all the easier following the recent arrival of Crossrail. As London continues to evolve, Canary Wharf stands out as a symbol of modern urban living, attracting a diverse range of buyers from young professionals through to international investors.”

Luxury living is at the forefront of Canary Wharf’s appeal. New developments like One Park Drive, 10 Park Drive and 8 Harbord Square, have been attracting discerning buyers who seek the very best in urban accommodation. These properties often feature stunning views of the London skyline and the Thames, elevating the living experience to new heights.

The recent opening of Roe – the sister restaurant to the popular sustainability-conscious London restaurant Fallow has been well received and certainly adds to the growing F&B elements of the estate. Residents are also able to enjoy the 16.5 acres of green spaces and parks that the Canary Wharf Estate houses and their recent partnership with the Eden Project illustrates their continued commitment to sustainability and biodiversity.

Despite recent market fluctuations, Canary Wharf continues to display strong long-term growth prospects, making it an attractive destination to purchase property in London.