Over the last year, the government has played a large part in increasing the amount of people who are able to secure their place on the housing ladder. The introduction of help to buy, which allows first time buyers to purchase a property with just a 5% deposit, has had a large and very positive impact on the market.
This effort is highlighted by the latest figures, indicating that numbers of completed first time buyer transactions in February 2016 grew by 7% annually to reach 21,100.
This underlying growth completely defies a seasonal dip, which sees first time buyer figures dip by 1.4% on a monthly basis. Despite February being a traditionally quiet period for property transactions, these figures prove subtle yet strong growth.
The average purchase price a first time buyer faces across the UK is £168, 539, with that price increasingly substantially in London.
However, at Inspired Homes, we realise that hard-working Londoners want to own their own home and they have a right to do this. That is why we work tirelessly to build beautiful London and Greater London apartments, which start from just £183,950.
Not only do we provide some of the most affordable, yet luxurious apartments on the market in London for first time buyers, but we also offer exceptional resident facilities, including cinema rooms, sky gardens and business lounges.
To find out more about our homes and help to buy, please contact the team on 020 8688 6552.