Millennials have managed to coin the term ‘Generation Rent’ thanks to soaring house prices and a lack of suitable supply, resulting in their inability to buy a first home.
This issue has been particularly prominent in London, with the average home now costing £620,000.
Unfortunately, the latest research doesn’t expose much better news for young Londoners, as it’s believed that renters earning less than £37,000 now cannot afford to live in two-thirds of the capital.
The data reveals how a growing number of people on low and medium incomes are being pushed out of London and are being forced to face horrifically long commutes.
The least expensive area to live in is the southeast borough of Bexley, with the average room rent being £500 a month. However, the types of property in these areas aren’t able to cater for young professionals, with little amenities and poor transport links.
This is where we have stepped in and filled a gap in the market.
It’s ridiculous to expect young working Londoners to have the capacity to afford a home that’s over £600,000, yet if they go much cheaper, they are only getting awful properties. That is why we developed our model of turning old offices in lovely new apartments, with a very affordable price tag.
All of our homes are based in locations which boast excellent transport links, superb amenities, and award-winning communal areas. In addition, the interior of an Inspired home is always of the highest quality with Bosch appliances and marble bathrooms.
It’s, therefore, surprising that we bring these London homes to market with a price tag starting at £235,000.
Furthermore, we also have help to buy in place, which means that a London home could be yours with just a 5% deposit.
To find out more about how we are helping first-time buyers, please contact the team on 0208 688 6552