Prices already rising as Berkeley breaks ground in the east end

House-builder Berkeley Group has begun construction of a £1bn development in West Ham.TwelveTrees Park in the London Borough of Newham is one of Berkeley’s biggest regeneration schemes, with 3,838 new homes planned, along with shops, a community centre and a new home for the East London Science School.At its peak, construction will involve more than 1,000 staff working on site.The first phase of construction work is focused on Evergreen Point, which will provide 205 studio, one-, two- and three-bedroom apartments. Construction will also begin on a new entrance for West Ham station, due to complete in the third quarter of 2023. This will provide residents with direct access to the station, the development’s community hub and landscaping around Evergreen Point. The first homes at Evergreen Point are due to be completed and ready for occupation by 2024.Such has been the rapid rise in house prices in the capital this year, as recently as July Berkeley was advertising the smallest studio in the development for £385,000. Now it is saying that prices start from £460,000 – a 20% leap in four months.Berkeley is working with housing association Peabody to deliver 40% on-site affordable housing, including shared ownership opportunities.Formerly owned by 19th century industrialist, Harper Twelvetrees, the site was once home to the Imperial Works soap factory.