Islington approves 280-flat tower; supply surge could ease N1 prices

Islington Council approved a 25-storey apartment tower containing 280 flats at 112 Essex Road on 6 July 2026.

The approval follows the Greater London Authority's updated housing delivery targets that require boroughs to approve higher-density schemes to reach 88,000 new homes a year across London. Islington recorded only 1,240 completions in the previous financial year, leaving a shortfall that this single tower will help close by 2029.

The site lies 200 metres from Essex Road Overground station and faces the Regent's Canal towpath. Residents will walk five minutes to the stalls at Chapel Market and share the same postcode as the Business Design Centre on Upper Street, where the council runs its annual affordable workspace grants programme.

Price signals in N1

Land Registry data for May 2026 showed the average flat price in Islington at £685,000. The developer, Berkeley Homes, plans to release one-bedroom units from £465,000 and two-bedroom flats from £675,000, figures that sit 12 per cent below the current new-build median for the N1 postcode. Thirty per cent of the flats will be affordable, split between shared ownership and London Living Rent, matching the council's adopted planning policy.

Local agents report that resale flats within 400 metres of the site have already seen asking prices trimmed by £15,000 on average since the planning decision notice was published. The tower will also include 1,200 square metres of ground-floor retail, adding to the existing cluster of independent cafes along Essex Road.

What buyers and renters should do now

Registration for the affordable units opens through the council's Homes for Islington portal on 15 August. Market-rate buyers can contact the sales office at the nearby Packington Estate marketing suite for priority access before the public launch in September 2027. Anyone considering a move to the area should review the latest Section 106 agreement on the council website to check obligations for local school places and GP capacity tied to the scheme.

This article is general information only and is not personal financial or investment advice. Consider your own circumstances and seek licensed professional advice before making financial decisions.