House prices have risen by a staggering 17.5 per cent in the Capital since February 2015, according to the latest official data (http://www.moneyobserver.com/). In addition, property prices in England and Wales rose by 8.1 per cent annually, taking the average price to £235,884.
Prime London areas such as Kensington & Chelsea and Hammersmith & Fulham showed a slow-down, with annual rises of just 5.6 per cent and 7.3 per cent. However, despite concerns from the industry, foreign investment is fueling demand once more, suggesting that the supposed ‘cooling’ will not be as dramatic as experts once thought.
Greater London areas have experienced huge price increases as developers look further afield to accommodate the growing population, and average prices have soared by up to 18% in areas such as Lewisham.
Overall, the race to own a London property is well and truly on, as prices are showing no real sign of slowing and property in the capital is a huge investment!
However, at Inspired homes, we believe that hard-working Londoner’s should have the chance to own their own home. Home ownership is seen as one of the main goals for adulthood, and at the current rate, homes are becoming more and more unaffordable.
We have done something about this, and have managed to create what we call ‘affordable luxury‘. Many of our homes in Greater London start at just £183,950 and offer more than what the average apartment can give. Several of our homes include access to superbly designed communal areas, roof gardens and business suites.
We also are proud to have help to buy in place, meaning that all that is needed to secure your own piece of Greater London, is a 5% deposit.
To find out more, call our team on 020 8688 6552.