The average price of a first-time buyer home in London reached £425,299 in August 2018, according to the latest UK House Price Index from HM Land Registry.
Though the price of first-time buyer homes has not increased significantly in London in the last one year, they are still out of reach for thousands of prospective buyers.
New build homes are priced even higher at £504,305 in London while the average price of flats is £426,856. Consequently, many first-time buyers are opting for flats.
At the national level, house prices in the UK grew by 3.2 per cent annually to reach £232,797 in August 2018. On a monthly basis, the house price grew 0.2 per cent over July 2018. In England, the annual price rise of 2.9 per cent has taken the average property value to £249,748.
In view of the rising house prices, first-time buyers in London are looking for homes in zones 3-9 and the UK capital’s popular commuter belts.
Strawberry Star, a London-based property company, with a vision for volume housing, is coming up with an integrated mixed-use scheme for first-time buyers in Luton, London’s top commuter belt town. The development LU2ON offers London like lifestyle with apartments priced from £185,000 onwards.
Located off Kimpton Road, the Luton Airport Parkway station, which connects King’s Cross, St. Pancras International, Central London, in under 23 minutes, is walkable distance from LU2ON. The development is deal for London-based working professionals, especially first-time buyers and young families.
If you are keen on buying an apartment in LU2ON, connect with our sales agents by calling +442077818899 or email us email@example.com
Annual growth in house prices has remained broadly stable at a national level since April 2018.