Housing association East Thames has reported recent 'strong' shared ownership sales, in particular East London hotspots.
Tower Hamlets's regenerated Ocean Estate were in high demand because of their proximity to Shoreditch and the City, said East Thames, while eight properties at So Stepney had gone under offer in the first weekend, and 15 VIVO homes had found new owners.
In Waltham Forest, the Watermark development had seen 35 sales in its first month, continuing what the association described as an “impressive showing” in the borough following the building of the Drive, where homes were handed over to buyers an average 17 days after completion.
Meanwhile, East Thames said the Collection in Redbridge had only five properties remaining of the 45 offered in the development’s first release.
Head of sales and marketing Wendy Hegarty said that while the average age of the capital’s first time buyers had been steadily increasing, shared-ownership schemes revealed a different picture.
“We consistently see people aged 25-35 able to get on the housing ladder without having to save an enormous deposit,” she said.
“We are also seeing a general shift east, with shared owners recognising that many eastern areas still offer excellent value for money, while still being close to central London and offering the transport links and local amenities which are so important.”
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