A year ago, housebuilder Barratt was on the brink of going bust. A fire sale of discounted properties saved its bacon. Bargain-hunters returned to the market.
Last August, normally a dead month, was the busiest summer sales period in the company's history and it appears this sales momentum is continuing into the autumn.
'The area benefits from the Olympic Village regeneration ripple spreading out from nearby Stratford'
A former hospital in Bow is bringing the value-for-money message to young homebuyers. While prices are being gently nudged up at the most popular developments, Barratt is keen to keep on message at St Andrews, a 964-home redevelopment in east London.
Bordering a busy approach road to the Blackwall Tunnel, the location is not the prettiest part of town. But the area has good train and Tube connections and the benefit of the Olympic Village regeneration ripple spreading out from nearby Stratford.
The scheme comprises three courtyard apartment blocks and two towers in landscaped grounds. When complete in 2012, a concierge service, gym, crèche, café and car club will be in place.
Green technology, including a communal energy system and sedum roofs, will mean lower fuel bills. All homes have outside space, either a balcony or terrace.
One-bedroom apartments in Nexus, the first phase, are priced from £215,000. Overall, values are just under £400 a sq ft. A show flat is already open at the development. Call 0845 871 0333.
Barratt admits that mortgage funding remains a problem for many buyers. But investors with cash are buying and so are sons and daughters living at nearby council estates with parents who are providing the deposit.
Two more affordable schemes in the east end heartland have been unveiled, both in classic urban settings. Drapers Yard, Bethnal Green, is close to a conservation area where Georgian shop-fronts survive and have been turned into trendy boutiques, though it is still a fairly rough-and-tumble patch.
The scheme has been built alongside DLR tracks and is opposite Repton Boys boxing club, a well-known east London institution housed in a handsome Victorian building. Apartments start at £230,000. Call 020 8522 5500.
Tria, a scheme of 51 flats, overlooks a green and borders the Jesus Hospital estate conservation area, close to Columbia Road flower market.
The six-storey building is under construction and will have a communal roof terrace when complete. Flats will be released later this year; prices are from £225,000. Call 020 8522 5500.