The idea of entering the London property market is daunting for many at the moment, due to the fact that wages remain the same despite the hike in house prices. The truth is that there are still many options for those that wish to purchase in the capital.
As trusted providers of professional property services, we specialise in the strategies that help our clients get onto the ladder. If you are considering making a property investment in Brent or any other area of the capital, we can provide the skilled help you need. Property advice firms have revealed that there are still many ways to secure an investment property in London despite the consensus that the deposit for the average first-time buyer has hit £50,000.
London is an international city, and just as the UK has thousands of property markets there are in fact hundreds of markets throughout the capital. The fact is that London is not just one place, and there are pockets of the city that have not yet kicked into overdrive. On average, prices have fallen by 10% in several boroughs, such as Bexley and Barking. There are other areas such as Hounslow, Greenwich and Bromley that are growing less rapidly than others, and as a result still offer attractive property prices. The added benefit of many areas is that they boast fantastic transport links and easy access to the countryside.
It is prudent to look in boroughs that are close to the more traditional prime locations. First-time buyers need to look further afield than the most fashionable postcodes as it is typically cheaper to rent in them than it is to buy. One obviously desirable area may be out of your price range, but the borough next door may offer access to the same amenities for half the cost.
It is wise for all first-time buyers to leverage. The areas that have the best prices may not be at the top of your list of preferences, but they can be a good way to begin the journey and eventually upgrade to the ideal property. The typical London forecast is a price growth of 25% over five years, so the purchase of a £100,000 property with a £10,000 deposit can result in a £25,000 profit when the time comes to sell.
We have been working with all kinds of investors, landlords and first-time buyers for over ten years and we have vast experience in the acquisition of the right properties for our clients as well as property and block management. We have the resources to locate the properties that can work for you.