Three London Property Hotspots that First-Time Buyers with Generous Budgets Should Explore
In 2018, the prospects for first-time buyers to get their foot on the property ladder are about as attractive as they’ve been in decades. It should come as little surprise then that many millennials and those in their thirties are taking their first step on the property ladder.
The recent abolition of stamp duty for any property with a value of up to £300,000 represents a valuable reduction for buyers who are struggling to save for huge deposits needed to own a property.Not only that, a wealth of property developers have openly welcomed Help to Buy London schemes, which help first-time buyers to purchase a flat with just a 5% deposit.
Whereas these incentives and schemes won’t solve London’s housing crisis, they are, at least, a step in the right direction. The gulf between London house prices and wages remains vast. As many property consultants in London know property prices in London are still expensive when compared with other areas of the UK. Whether you have a substantial budget or not, knowing which areas London that represent the best value for money can really bolster the success of finding the ideal property for your needs.
As experienced property consultants in London, we have listed three areas of London below where buyers who have a generous budget can settle down in a leafy suburb and still achieve value for money.
Over the last five years, south-east London has become a mecca for first-time buyers. The demand has catapulted areas like Crystal Palace and Hither Green from relative obscurity to some of the most desirable in London.
A good leading London-based buying agent has their fingers on the pulse of the London’s property market and they know what the next areas to enjoy significant growth are likely to be. One area that’s often cited as a hidden gem perfect for first-time buyers is Sydenham.
Often overlooked, Sydenham features lush expanses of green space, and trendy independent coffee shops and eateries. With trains that pull into London Bridge in just 15 minutes, good schools and a fine community spirit, this is one London suburb that first-time buyers can ill-afford to overlook.
The pleasant suburb of Gidea Park, on the borders of Essex, is a great place for first-time buyers to put down roots. Originally known as the Romford Garden Suburb, Gidea Park has grown to become a quintessential London suburb for homeowners that wish to escape the hustle and bustle of London City living.
Take a stroll through Gidea Park and you’ll immediately be struck by the depths of suburban living on offer. The high street alone features three huge shopping malls, Westfield Stratford City, Lakeside and Bluewater – each of which has everything that any shopaholic could ask for.
When the evening descends, Gidea Park is home to a handful of quaint, traditional pubs to meet with friends and enjoy what life should be all about – relaxing and having fun! For sportsman and women, Romford Golf Club is an exclusive and private members-only golf club popular amongst Gidea Park residents. Founded in 1894, Romford Golf Club features a picturesque, tree-lined course and welcomes members of all ages.
Located in south-west London within the Royal Borough of Kingston upon Thames, Surbiton was formerly a part of the historic county of Surrey and comprises of four wards: Alexandra, Berrylands, St. Mark’s and Surbiton Hill.
One of the primary benefits to living in Surbiton is that it’s in Zone 6. This means that residents can enjoy a swift commute into Waterloo – a mere 19 minutes on average. Residents of Surbiton can reach central London quicker than many of those who live in Zone 2.
Surbiton features a smattering of grand Victorian villas and conversion flats, art deco apartment buildings and 20th Century semi-detached houses which makes it very fashionable and highly-desirable amongst first-time buyers.
The stylish Maple Road has become a magnet for thirty-something couples and young families. Here you’ll find independent cafes intermingled with restaurants offering a range of international cuisine and a selection of jolly and inviting pubs that cultivate warm community spirit.
These three distinct suburbs offer buyers the opportunity to purchase a slice of suburban London at an attractive price. If you’re considering getting on the property ladder, why not check out each – you may just find your dream home.
If you are a first-time buyer and you want to invest in your first home and you want the best advice, the team at Jane Wood & Associates are here to help you as your London property buying agent and property consultant. Give us a call on +44 (0)20 7602 8779 or get in touch online today to find out more about how we can help you.