Berkeley Group is offering to cover private school fees for buyers at its Trent Park development in Enfield, north London. This initiative is part of a broader trend where housebuilders are deploying sales incentives due to weakening demand in the capital's property market.
The developer's package reportedly covers tuition costs up to £41,750 over two years. This includes fees at a local preparatory and senior school, which are reported to range from £4,500 to £5,800 per term, including VAT.
Properties at the Trent Park scheme are priced from approximately £760,000 for a one-bedroom unit to £1.8 million for a five-bedroom house. The incentive emerges as London's housing market experiences a slowdown, with Land Registry figures indicating a 3.7% decrease in values, marking the lowest annual price growth among English regions.
Other developers are also introducing various buyer incentives, such as covered council tax, service charge payments, and part-exchange arrangements, according to new-build property technology platform Ldn.one. Last month, Vistry reportedly reduced asking prices by over £100,000 on some properties, cutting prices by 17%.