Greenwich ranked most affordable borough for first-time buyers
- 5th July 2019
- Buying Property News
On average it takes first-time buyers just 14 months of saving to get on the property ladder in Greenwich
Greenwich, has been named as the most affordable borough in the capital for first time buyers according to new research. It took first-time buyers on average 14 months* to save up for a 10% deposit in Greenwich, where the average property value is £372,800, the shortest time of all London boroughs.
The borough of Greenwich not only offers first-time buyers’ affordability but also a multitude of great bars, restaurants, parks and transport links close by. Greenwich for example boasts London's only market set within a UNESCO World Heritage site with vendors from across the globe.
Other London boroughs which ranked highly in the study were Tower Hamlets (taking first time buyers 14.8 months to save), Wandsworth (at 16.5 months) and Lewisham (at 17.3 months).
Examples of great properties on the market for first-time buyers in these areas include:
· A fantastic two bedroom apartment set on the 5th floor in Lewisham, located just 0.2 miles from Lewisham station.
· A two bedroom apartment in the Award Winning Greenwich Millennium Village, with quick access to Greenwich and the Jubilee Line service to the City and West End.
Stephen Ludlow, Chairman at ludlowthompson, says: “South London dominates the list of the most affordable boroughs with a variety of great areas that could be good destinations for those looking to take their first step on the property ladder.”
“Many of the most affordable areas such as Greenwich and Wandsworth not only benefit from lower prices but also from thriving nightlife, restaurants and amenities.”
“If you are a first-time buyer looking to purchase or even just considering it, getting expert local advice is crucial, feel free to pop into your local branch for some advice.”
ludlowthompson maintains its transparency by encouraging customer reviews across a number of platforms. Over a three-year period, we ranked number 1 agent in the UK on allAgents out of 15,000+ agents, with 5300+ 5* reviews. Here is a selection of recent reviews of happy customers of ludlowthompson via Google Reviews:
Michael Allen via Google Reviews:
Wonderful experience working with Chandra a young man to his word very professional friendly helpful staff committed to good results, myself & my wife are so happy with there service. I will recommend to friends & family of Ludlowthompson Lewisham, Excellent *****
Spencer Walker-Fooks via Google Reviews:
Quick and professional work, very happy with Ludlow Thompson here. Kelly was incredibly helpful and informative, very likely to use them again in future.
* Calculated using the mean net salary in Greenwich of £2,667
“South London dominates the list of the most affordable boroughs with a variety of great areas on there that could be good destinations for those looking to take their first step on the property ladder.”
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