A new breed of “five per centers” is taking over the new
homes market in parts of London. Using the Government’s subsidised Help to Buy
London scheme and a five per cent deposit to get on to the housing ladder,
these buyers are now responsible for more than half of all sales of new homes
in a “halo” of postcodes around the capital. Some 85 per cent of the new homes
sold in West Wickham over the last two years were to buyers bolstered by a 40
per cent government equity loan. The average price of a new home in the BR4
postcode stands at just under £421,000, up 14 per cent in the past two
years. Read more on the Evening Standard
website.
Eight in 10 homes in London’s poshest postcodes now sell below asking
price, Coutts finds
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Sellers in areas such as Belgravia and Mayfair face hundreds of thousands
of pounds in losses as property prices fall
Eight out of 10 properties in Londo...
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