What tops the wish list for London’s first time buyers?
Have you ever dreamt of buying a home in the capital but struggled to find a location you can afford to call home?
In a recent survey of one thousand 24 – 35 year old renters in London, 76% of participants said that location would be important or very important to them when buying a home. However the same survey, commissioned by housing association L&Q, showed that 76% would expect to have to compromise on location when buying a property in London.
In fact, 50% of participants said that they even expect to leave the capital in order to purchase a home.
Cathy Lloyd, Sales and Marketing Director at L&Q comments: “It’s no surprise that location continues to come out as the top priority. Picking the right area is essential - 64% of those we surveyed said they would prefer to buy in an area in which they had previously rented. However, most feel they are ‘priced-out’ of some of the capital’s more sought-after areas.”
When asked to rank the most important factors for choosing a location to buy a home, the highest rated options emerged as good transport connections, good local amenities, and nearby parks and green spaces.
From swanky city pads on the edges of Zone 1, within walking distance of The Shard, to peaceful apartments in leafy Colliers Wood – L&Q is a Shared Ownership provider creating homes in a broad range of areas across the capital. For many, Shared Ownership can be an achievable route to home ownership, which can help make buyers feel as though they really belong here in London.
Riverside homes at Greenwich Peninsula are offered in a prime Zone 2 location near to Greenwich town, which enjoys a thriving local market, plenty of independent eateries and quaint pubs. There is also the oldest enclosed Royal Park nearby, which boasts 13 acres of grassland.
Transport links are excellent – Greenwich Peninsula is within walking distance of North Greenwich station, connecting to Canary Wharf in 2 minutes, London Bridge in 8 minutes, and Waterloo in 11 minutes. Greenwich Peninsula also benefits from the night tube on the Jubilee line, ensuring that residents will be able to explore the City in their own time. The Thames Clipper also departs from the nearby pier every 20 minutes, and from 2018, residents will also have access to the Crossrail at Canary Wharf.
For more information about creating a sense of belonging in London, visit lqpricedin.co.uk/belonging.
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