With the current crop of newly built homes, both the first-time buyer and buy-to-let investor will find much to like, says Johnny Turner.
Rising prices may be good news for those who are already on the property ladder – but what about those who have yet to reach the first rung? Recent research commissioned by The MarketPlace found that a quarter of first-time buyers take four to six years to save for their first property, while 16 per cent have to wait seven years or more; National Savings and Investments (NS&I) has found that for those in the South East the average time spent saving a deposit is four years. Further, prolonged, steady periods of price rises also mean that those who are trying to save a deposit will find ever-changing goalposts. So what is to be done?
The fact is there are quite a few developments currently selling houses at prices that many prospective first-time buyers will be able to afford. And the choice of locations and specification that is on offer will convince many that now is the time to take the plunge.
For owner occupiers who are now looking to take their first foray into investment buying, there are also many fantastic options now available from developers. So whether you’re a complete novice to the property game or have decided to up the ante by buying to let, you’ll find much in the currently available selection of properties to give substance to your dreams.
Fairview has some interesting news for those who are finding the first run of the ladder hard to grasp. At their Rose Place development in Deptford, prices start at just £150,000 – an almost unheard-of deal for a London residence.
Rose Place will be a stylish development of 47 one- and two-bedroom apartments, located in this increasingly hip area just half a mile from vibrant Greenwich. Transport connections are excellent, with both Cutty Sark DLR and Greenwich mainline station within walking distance.
All apartments have been designed with a spacious sitting room, a bathroom and a fitted kitchen which includes a washer/dryer. Some of the two-bedroom apartments also feature a balcony as well as an en suite bathroom to the master bedroom.
One-bedroom apartments are available for sale, priced from £150,000; two-bedroom apartments are priced from £180,000. Call the sales and marketing suite on 020 8694 8093 or visit fairview.co.uk.
At City & Country Group’s new Standon Mill development in Standon, Hertfordshire, affordability goes hand in hand with flexibility of space. These 21 one-, two- and three-bedroom apartments, converted from a flour mill from 1901, make wonderful use of original features, including cast iron columns, exposed brick walls and brickwork arches.
So far, so stylish. But the amazing thing about these homes is that they give the buyer the option of adjusting the living space according to their needs. Fold-away walls have been incorporated into five of the properties, located between the living rooms and bedrooms two or three; this lends added flexibility to an already spacious, user-friendly design.
City & Country decided on folding walls as the best way to maximise living space. ‘For young professional buyers, a second or third bedroom is seldom used apart from when guests come to stay, or as an occasionally used study,’ says Tim Sargeant, the developer’s chief executive. ‘An additional bedroom is a valuable asset though, particularly when the property is put onto the market to sell at a later date.’ The folding wall can increase the living space quickly and easily by up to 118 sq ft, he said.
Further features at Standon Mill include solid oak or walnut flooring, curved and glass interior walls, rooftop terraces and balconies. Kitchens are by the Italian company Euro Cucina and bathrooms feature classical white sanitaryware from CP Hart and Roper Rhodes. All of the homes have CAT5 wiring, which will enable purchasers to install whatever high-tech features they choose, from multi-room audio systems and plasma/LCD home cinema to TVs fixed into bathroom tiles.
The location is superb; the peaceful conservation area is alongside the River Rib and there are convenient road and rail connections to London and Cambridge. And the prices are surprisingly affordable – one-bedroom apartments start at £179,000, two-bedrooms at £275,000 and three-bedrooms at £360,000. Call 01279 817882 for more information.
Also in Hertfordshire, the two-bedroom apartments at Twigden Homes’ Templars Gate in Royston are proving very popular with first-time buyers. Only three remain for sale, priced at £155,000 – and they’re not expected to hang around for long.
Twigden is also offering attractive incentives on the apartments – the developer will pay the five per cent deposit, representing a saving of £7,750, as well as the stamp duty and legal fees (excluding disbursements). The show apartment has also just been released, priced at £165,000, with carpets, curtains and light fittings included in the sale. This apartment would be ideal for the investment buyer who is looking for a hassle-free introduction to the life of a landlord.
Besides the apartments, there is a selection of two-bedroom houses available, at prices ranging from £175,000 to £185,000. There is also one three-bedroom house remaining, priced at £235,000; there is also one four-bedroom detached house at £389,995, with stamp duty and legal fees paid provided you can move in by the end of this month!
The fully furnished show homes at Templars Gate are open seven days a week from 10am to 5pm. To find out more call 01763 249136.
In Haywards Heath, West Sussex, Crest Nicholson is selling Princess Court, a collection of 50 one- and two-bedroom apartments. The three buildings, which are set in landscaped grounds, are influenced by time-honoured local architectural styles, with exteriors blending white stucco and red brick.
The apartments offer spacious sitting rooms incorporating open plan kitchens, which provide a comprehensive range of integrated Siemens appliances. The master bedroom suites in the two-bedroom properties have en suite bathrooms and double integrated wardrobes. The living space is light and airy, and a proportion of the ground floor apartments enjoy bay windows. Each of the properties includes a private parking space.
Location-wise, Princess Court is excellent. Just a short walk to the station puts you within easy reach of both London and Brighton, letting you have a mix of town and city life. Haywards Heath itself offers a wealth of leisure facilities and good restaurants. And the prices will suit those who want a nice home but whose budgets are tight – the new release of two-bedroom apartments is priced from only £174,000. ‘We had a clear vision of creating quality properties that offer affordability to first-time buyers,’ says Helen Devy, sales and marketing director of Crest Nicholson South East. ‘At Crest we appreciate how difficult it can be to get on the property ladder and we wanted to give prospective first-time buyers the opportunity to do this in a fantastic location such as Haywards Heath.’
Get more information on Princess Court by calling the sales office on 0870 752 1820.
Berkeley Homes is transforming a former rubber and plastics factory in London’s up-and-coming area of Bow into a gated residential scheme called Bow Central. The 146 contemporary apartments will form a series of elegant buildings of four and five storeys, incorporating glazing and contrasting brickwork, with sleek, simple columns, picture windows and Juliet balconies. Around the building will be pedestrian pathways, landscaping, wide driveways and surface parking facilities. There will also be and 14 three- and four-bedroom town houses.
The apartments range in size from 413sq ft to 892 sq ft, and many will have private balconies. The interior spec and décor will be fresh and funky, and each will feature a bright and airy reception room. Fully fitted kitchens will have Karndean flooring, stylish units and sleek worktops, as well as a comprehensive range of integrated AEG appliances.
Bow Central lives up to its name, being in the heart of Bow and within 500 metres of Bow Road tube station and Bow Church DLR. For those who work in the City or Canary Wharf, this is the ideal place to live.
The first release at Bow Central will consist of 55 one- and two-bedroom apartments, priced from £195,000. Find out more by calling Berkeley Homes on 020 7321 2122 or visiting berkeleyhomes.co.uk.
In Dagenham, Higgins Homes has just begun selling On The Square, a contemporary scheme of 70 two-bedroom apartments on a former school site. Eager buyers are already snapping up the homes, proving that the demand for smart, affordable and well connected apartments is strong.
These apartments boast a modern, open-plan layout. Sleek designer kitchens by Urban Myth extend out on to spacious living areas. And the space continues outside; ground floor apartments have French doors opening onto patios on the ground floor, while first and second floors offer elegant Juliet balconies, allowing views over the central grass square.
On The Square is only a ten-minute walk from Beacontree tube station, putting London within quick and easy reach. The development is also minutes from the A13 and the North Circular, giving a wide choice of motoring connections.
Prices start at £165,000, making this scheme ideal for the first-time buyer or investor. For further information contact Higgins Homes on 020 8517 7887 or visit higginshomes.co.uk.
Another impressive regeneration story is happening in Kidbrooke, where over 4,000 new homes will be built in the coming years. Work has now started at Fairview New Homes’ The Meridian, which will comprise 51 two-bedroom apartments designed in a contemporary style. Located within a quarter mile of Kidbrooke train station and approximately a mile from exclusive Blackheath Village, the development is ideally placed for a lifestyle that balances work and fun.
Nearby Greenwich and Blackheath are awash with beautiful green space, wonderful restaurants and bars, great shopping and a thousand ways to spend free time. This location is unbeatable and is becoming more and more an area of first choice for young professionals.
The first release of homes at The Meridian comprises two-bedroom apartments with prices starting at £171,000. Contact the sales and marketing suite on 020 8331 1157.
Mansard Country Homes’ impressive portfolio in Middlesex and Surrey includes Holly Bush Place in Holly Bush Lane, Hampton. The 12 one- and two-bedroom apartments are conveniently located for the village and railway station, and specification includes designer kitchens with granite work surfaces. There is also allocated parking. Prices start at £184 950. The on-site marketing suite will be open from Friday 18 June. Call 020 8487 0089. Find out more about this and other developments by Mansard Country Homes online at mansard.co.uk.