1 month ago
London Home Buyers Get School Fees, Cars, and More Incentives
London’s house prices have been falling, so builders are trying new tricks to get people to buy.
Berkeley Group is giving buyers up to £41,760 to pay for private school fees.
Other builders are offering electric cars, free service charges, and help with stamp duty.
These deals are meant to make buying a new home feel cheaper even though the house itself isn’t cheaper.
The government says it’s hard to build 1.5 million new homes, so builders are looking for ways to keep sales up.
Berkeley Group offers up to £41,760 toward private school fees for buyers at its Trent Park development.
Developers are using incentives such as electric cars, stamp duty relief, and free service charges to offset higher borrowing costs.
London house prices fell 3.7% in the year to May 2024, while prices across England rose 2.3%.
Some builders have cut prices by an average of 8% and offered discounts up to 30% on certain developments.
Deputy Prime Minister Angela Rayner said meeting the 1.5 million new‑home target would be “a really difficult stretch.”
- Who
- Developers, notably Berkeley Group, and Deputy Prime Minister Angela Rayner
- What
- Offering incentives such as private school fees, electric cars, and stamp duty relief to boost sales
- Where
- London, United Kingdom
- When
- Year to May 2024
- Why
- To counter falling house prices and higher borrowing costs
Key facts
- Developer
- Berkeley Group
- Incentive
- Up to £41,760 toward private school fees
- Development
- Trent Park, North London
- Price range
- £760,000 – £1.85 million
- London house price change
- -3.7% (year to May 2024)
- England house price change
- +2.3% (year to May 2024)
Quotes
Angela Rayner
Deputy Prime Minister
“"a really difficult stretch"”
easterneye.biz
Sources
Related news
£450,000 new-build homes carry £55,000 hidden costs, analysis says
London's Housing Crisis Drives Away Its Most Valuable Residents
Luxury Housing Sales Surge as Affordable Demand Weakens
India’s Housing Supply Shifts Sharply Toward Premium Homes
Johnson Urges Mahmood to Press Ahead With Immigration Reforms
Burnham unveils England plan to end rough sleeping
Andy Burnham becomes UK PM, pledges decade-long plan
2025: A Year of Turmoil and Transition
