First-time buyers are seeing costs soar, with some homes increasing in price by £3300 in one month despite overall house prices dropping slightly.
Worryingly, the average age of a first-time buyer in the UK has reached 33 years of age. Furthermore, many are becoming increasingly concerned that house prices are creeping higher.
As a recent article in This is Money highlighted, on a yearly basis, the leap in prices is growing even more severe with the asking price of a typical first-time buyer two bedroom property increasing by £15,000.
In addition, the article noted how online agency, Rightmove, said that first-time buyers face annual asking price inflation at a level of 8.2%.
Overall, the bleak reality is that across England and Wales, the average asking price of a property stands at £305,670 and in London, this now exceeds £600,000.
What are Inspired Homes doing about this growing issue?
At Inspired Homes, we focus on helping young Londoners in their bid to owning a home in the capital.
How do we do it?
We transform tired offices into beautiful studios and apartments. We also choose locations which enjoy superb transport links, such as Croydon, Epsom and Sutton and in addition, our development locations are often experiencing huge levels of investment when it comes to regeneration projects. This means that you are incredibly likely to experience huge levels of capital appreciation!
What are the homes like?
All of our homes benefit from an open-plan design. They are finished to the highest standards and include features like marble bathrooms, wooden floors and Bosch appliances. In addition, we have won awards for our communal areas which include sky gardens, cinema rooms and business lounges.
How much do they cost?
Our homes start at just £235,000 and we also have help to buy in place. That means that a London home could be yours for just a 5% deposit.
To find out more, please contact our team on 0208 688 6552