With shared ownership you can get on the ladder for as little as £3,325 (Picture: Metro.co.uk)
Fewer opportunities to spend over much of the past 18 months have led to nearly half of first-time buyers saving more than usual, according to research by Yorkshire Building Society.
But they still face an average four-year wait to get a foot on the property ladder, and — with Halifax reporting that the average first-time buyer deposit is now £58,986, and an eye-watering £132,685 in London — many are looking at far longer delays.
However, a huge advantage of shared ownership is that, as you only need a deposit for the stake you’re buying, deposits are much lower than when buying on the open market.
All these properties can be purchased with a down payment of less than £10,000, putting home ownership within your grasp.
Union Walk at the Green Quarter, Southall UB1, from £66,500 for a 25% share of £266,000
Minimum deposit £3,325
Union Walk homes have smart kitchens with Bosch appliances
Only a five-minute walk from Southall station, these one and two-bed homes are finished to a high standard, featuring smart kitchens complete with integrated Bosch appliances.
Each has a spacious balcony and many enjoy spectacular views over West London.
L&Q at Huntley Wharf, Reading RG1, from £71,250 for a 25% share of £285,000
Minimum deposit: £3,563
Huntley Wharf is perfect for commuters
One and two-bed apartments in a scenic location on the River Kennet and under ten minutes’ walk from Reading station.
They have light-filled, open-plan layouts, flooring fitted throughout, and eateries, a gym, podium gardens and waterside walkways will be on the doorstep.
A+, Hounslow TW3, from £77,500 for a 25% share of £310,000
Minimum deposit: £3,875
Hounslow’s regeneration starts at A+
The place to live if you want to be in the heart of the action, as these one and two-bed apartments are right by the high street — which is set to be transformed into a vibrant hub as part of a multi-million pound regeneration.
Each has a balcony overlooking a quiet road or playing fields.
Union Square, Perivale UB6, from £83,125 for a 25% share of £332,500
Minimum deposit: £4,156
Union Square has a village feel
A mix of one, two and three-bed apartments in a well-connected development with a villagey feel.
They’re moments from shops and bus stops, within walking distance of Piccadilly and Central Line stations and convenient for the A40 and North Circular.
Nexus 2, Enfield EN3, from £87,000 for a 30% share of £290,000
Minimum deposit: £4,350
Nexus 2 is very handy for the station
With contemporary kitchens and integrated appliances, sleek bathrooms and balconies, these one and two-bed apartments have been designed to maximise space, light and storage. Open spaces and play areas, and Ponders End station, are all nearby.
Electric Quarter, Brixton SW9, from £106,250 for a 25% share of £425,000
Minimum deposit: £5,300
Brixton’s Electric Quarter is full of life
There’s no time to waste if you want to put down roots in buzzy Brixton, as these one and two-bed homes are shifting fast.
The station, Brixton Village, the O2 Academy and numerous pubs, clubs and eateries are within easy reach. guinnesshomes.co.uk
Motion, Lea Bridge, E10, from £110,000 for a 25% share of £440,000
Minimum deposit: £5,500
Enjoy east London life at Motion (Picture: Simon Harvey)
Part of a flourishing new east London neighbourhood, these two and three-bed apartments are set around a landscaped courtyard and ideally positioned for Lea Bridge Overground station and the mini-Holland cycle and pedestrian routes.
Merrielands, Dagenham RM9, from £112,875 for a 25% share of £322,500
Minimum deposit: £5,644
All homes at Merrielands have access to private outdoor space
Spacious two-bed apartments close to a retail park and transport links, in an up-and-coming and increasingly desirable area.
Each includes a large open-plan kitchen, a decked balcony or paved terrace.
Patchworks, Finsbury Park N7, from £113,750 for a 25% share of £455,000
Minimum deposit: £7,562
Patchworks has its own rooftop garden (Picture: Simon Harvey)
Getting around is easy from this gated, retro-inspired scheme as it’s in Zone 2 and a short walk from both Arsenal and Finsbury Park stations.
The two-bed apartments feature white kitchen units and large windows and there’s a rooftop garden.
Royal Albert Wharf, Royal Docks E16, from £80,000 for a 25% share of £320,000
Minimum deposit: £8,000
Apartments at Royal Albert Walk have views of the Thames (Picture: Robert Greshoff)
Every type of household is catered for here, as the 1,856 homes range from one-bed apartments to three-bed duplexes, all with private outside space and some overlooking the Thames.
A concierge, Indian restaurant and arts hub with studios and event space are all on-site.
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