Junaid Iqbal Memon Hotspots for First-Time Buyers

06:06

Junaid Iqbal Memon Discusses Best Places in London for Property Buyers


Welcome to the Junaid Iqbal Memon blog. Here you can read about the latest trends and updates about real estate and property development. Junaid is an experienced real estate and property developer. The founder of the Cloud 9 Group, he is based in London and Dubai. He has a number of successful residential property developments and he also owns and manages a number of businesses.
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First-time property buyers have better prospects these days. Recently, stamp duty has been abolished for properties that are valued up to £300,000. This has led to a considerable reduction in the entry costs that buyers are expected to shoulder. This means that more and more people are now able to get a much better chance at actually securing a home purchase. 

There is also growth in the number of builders that are taking advantage of the Help to Buy scheme. This means that first-time property buyers are now able to sign up for a new flat where they are only required to pay five percent in deposit.

One must not be naive to think though that these activities are going to be the solution for the housing crisis that the UK capital has been facing. They are not. After all, there is still a huge gulf between house prices and wages. However, for those people who are fortunate enough to be in a position of being able to make the purchase this year, there are many cost-effective areas in the capital that are worth looking into.

Gidea Park

The Thirties suburb that is located along the Essex Borders in Gidea Park can be an excellent choice for those who are buying property for the very first time. A semi with three bedrooms can be picked up for £400,000. A cottage can be purchased at around £350,000. Flats with two bedrooms can cost up to £350,00 and a one-bedroom flat can be tagged up to £250,000.

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Affordability is certainly one of the biggest draws of Gidea Park. However, it is a reality too that the place may be way too suburban to some buyers. The proximity of its high street to massive shopping malls has caused an immense effect on the locality.  Meanwhile, nightlife tends to be confined to old-school pubs. The place though is quite leafy. There is Raphael Park and there is a golf club. Some buyers might also appreciate the fact that it has an affluent and safe vibe.

Sydenham

Junaid Iqbal MemonMany first-time buyers have found a Mecca in South-east London. This has catapulted such places as Crystal Palace and Hither Green into desirability from their anonymous existence before. It is believed though, the next area that is likely to share in the limelight would be Sydenham. It is one gem location and most of the time, it tends to get overlooked. It has trains that go to London Bridge in a matter of 16 minutes. It offers coffee shops, nice restaurants, and open spaces that are large and green. All these have resulted in a price increase of 16%, which means that this is one place that would be a great investment opportunity.


While it is true that the London real estate and property development market may still be struggling, there are a number of places that will still prove to be such excellent buys. Learn more about which areas are best for first-time property buyers by reading more about Junaid Iqbal Memon online. You can also like the Junaid Iqbal Memon Facebook page.

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1 comments

  1. London really is a great place to live in. Great post!

    ReplyDelete