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A typical London buyer’s deposit is now over 2.5 times the rest of the UK

It is scary to learn that the average deposit paid for a Greater London property is now over two and a half times larger than it is for a home outside the capital. The average price of a house in boroughs such as Croydon has reached £350,000, and are only due to rise with the area being the home to a new Westfield Shopping centre in 2020.

Large rises in house prices across the UK and in particular Greater London have resulted in buyers having to pay with a typical deposit of £127,000 in the capital. That is nearly £30,000 more than in 2013, yet salaries have not increased at the same rate.

However, here at Inspired Homes, we build beautiful apartments that are extremely affordable. All of our developments are based in excellent locations such as Croydon, Sutton and Epsom, and offer superb transport links into zone 1.

We are determined to make sure young and hard-working Londoners can afford to buy their own home, and we even go one step further by creating unique resident facilities including businesses lounges, cinema rooms and sky gardens.

If you think you can’t afford to buy, think again. With help to buy, all you need is a 5% deposit, and our homes start at just £183,950.

To find out more about owning your London or Greater London property, give the team a call on 020 8688 6552.

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