Early bird buyers will profit most in Belgravia

Buying into an early phase of a large housing scheme can have its benefits
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Buying into an early phase of a large housing scheme can be a double-edged sword. 

Bold buyers who snap up homes when the cranes are swinging into action can expect higher price growth during the course of construction. The downside is that they have to live on a building site for years — up to a decade in the case of some London schemes where hundreds, even thousands, of flats are being built.

The first residents moved into Grosvenor Waterside in Pimlico, pictured, back in 2009 and homes are still being released as the development nears completion. Created around a once-hidden dock built by architect Thomas Cubitt to carry materials from the Thames for the building of Belgravia, it is a sought-after address where re-sales are quite rare.

New ground-floor flats at Moore House, one of eight crisply designed blocks, have their own front doors and terraces. Prices from £795,000. Call St James on 020 8246 4166.

Chelsea Barracks, whose 13 precious acres are being turned into a smart housing estate, lies just across the road from Grosvenor Waterside, meaning local residents will have to put up with yet more construction. But they are likely to be rewarded by a property price boost.

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