Please help me to buy a new build flat as a FTB

[Minimini0001]

Hi, I recently went for a viewing on a 3-bedroom new build flat in Abbey Wall in SW19.
Here are details:
Pros

• In a quite dead end road
• room for negotiation as it is unsold plan
• comparatively low service charge (around £2,000 which I don't mind)
• High EPC
• Good sound proof
• Every thing is new
• 85square meters

Cons

• North Facing (South facing is ugly and noisy unfortunately)
• possible value depreciation
• a lot of plans unsold- don't know why)
• 10mins from south Wimbledon
• There are two new other buildings (bigger, taller) nearby completing soon

Please if I missed anything, advice me. Thanks in Advance Here is the video for 3 bedroom - www.abbeywall.com/show-reels

My son is looking at this development too -

I think depreciation is a definite rather than a maybe. New properties always lose money for the first 5 years after they are built.

These London new builds tend to cater to foreign Asian investors that need to get their cash out of the country. They make little sense otherwise given the sharp depreciation of new builds.

Low service charges should worry you. It potentially means that they are not taking the costs of future maintenance seriously. This sort of story always puts me off considering flats:

https://www.bbc.co.uk/news/articles/c3d8v3er4dyo