We are always told that it's almost to buy in London, is that really the case? I've taken a look at some of the schemes available to first-time buyers and commuters and below is a summary of a couple of the best!
Unity Works
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Location: Walthamstow.
Price: From £105,000 for a 35% share.
Deposit: £5,250 assuming 5%.
Availability: Can register interest now.
London based housing company, Peabody, began its first project of the year, named Unity Works, in January. The development offers 30 shared ownership opportunities with a variety of one, two and three bedroom apartments with aim of giving first-time buyers the chance to put a foot on the ladder in London proper.
Sarah Butler, Sales & Marketing Director at Peabody comments: “We are extremely delighted to be unveiling our first flagship scheme of the year in such an exciting part of the city. As one of London's most exciting property hotspots, Walthamstow is a popular destination for professionals working in London, bursting with character and artistic charm. At Unity Works, we have provided an affordable opportunity for first time buyers to make a life in this contemporary and creative area.”
Unity works is within 10 minutes walk of Blackhorse Road station and residents will be able to utilise the weekend Night Tube services to Central London. Both Kings Cross and Oxford Street can be reached in less than 20 minutes from Blackhorse Road and Seven Sisters is just two stops down on the overground.
What do buyers get with the apartments?
Waltham Forest is popular with young professionals and arty types. The E17 art trail has precipitated a regeneration of the area and there now variety of bars, restaurants and independent shops located near Unity Works. There is also Walthamstow Market, which has the claim to fame of being the longest outdoor market in Europe, reaching a whole kilometre. For those who want the chance to escape from urban life from time to time, Epping Forest is only half an hour away.
For more read our - First Time Buyer Quick Guide and Buying a Shared Ownership Property.
Location: Chatham, Kent.
Price: From £179,995 for one-bedroom apartments.
Deposit: £8,999.75 assuming 5%.
Availability: Available now.
Research from Lloyds Bank indicates that towns within an hour of Central London have an average price below £300,000 whereas those in the middle of the city are over £1,000,000. Commuters therefore can save a lot of money by buying around, rather than within, the Capital.
Chatham, in Kent, is in the the top five most affordable commuter towns and you get to London from there in less than 60 minutes. Property company, Countryside, have recently opened a new development, Horsted Park, in Chatham featuring a range of apartments.
Horsted Park in close to the Kent countrysie and has top notch travel connections - Emma Fearn, Associate Director for Sales & Marketing of Countryside's New Homes and Communities South region comments: “We appreciate that London property prices are out of reach for many homebuyers, so we are pleased to be able to present a more affordable option in a prime location for those working in the city. Horsted Park combines the best of both worlds, thanks to its green surroundings and efficient transport connections.”
What do buyers get for their money?
The development benefits from all things on offer in Chatham and the City of Rochester which is just down the road. Chatham has plenty of shopping and leisure facilities while Rochester is great for those who fancy a bit of culture in their spare time!
Travel:
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