Shared ownership homes in London: the most affordable properties available through the part-ownership, part-rental scheme

London is still the region with the lowest house price growth. However, it is also the most expensive in the UK with an average house cost of GBP521,000, according the Office for National Statistics. These sky-high prices are driving many first-time buyers from London out of the property market. Lucian Cook, head residential research at Savills, says that it is well-documented that the challenge of raising a deposit in order to get on the housing ladder has been around for a while. “High rental costs make saving for that deposit difficult, which has led to increased reliance on the Bank and the Hotel of Mum and Dad London. Savills estimates that gifts and loans from Bank of Mum and Dad supported almost half of all home-buyer transactions last year. You can climb the ladder in the most expensive and/or fastest-growing areas of the city with just a 5% deposit. This makes home ownership much more affordable. Regency Heights: Homes starting at GBP82,500 for a 25% share of a one-bedroom apartment worth GBP330,000 / L&Q In a survey of over 2,000 users, 73% of respondents said they didn’t need to borrow money to pay down their deposit. These are the best shared ownership homes in London. Over the next 40 years, the new neighbourhood in west London will deliver 26,500 homes. One, two and three-bedroom shared ownership homes are available, from GBP82,500 for a 25 per cent share of a one-bedroom flat worth GBP330, Resi: homes cost from GBP99,988 for a 25 per cent share in a one-bedroom apartment worth GBP399,950 / Simon Harvey Photography LtdSo Resi EalingOnce the flagship Bhs department store, So Resi’s scheme has homes from GBP99,988 for a 25 per cent share in a one-bedroom apartment worth GBP399,950. It is a short walk to West Ealing Crossrail station. All residents will have access to a rooftop or terrace, a podium garden on the first floor, and three years of free car club membership. in Dagenhamby Clarion Housing This development has just one studio apartment remaining at GBP50,000 for a 25 per cent share. This is one of the most affordable homes in London, with a full market price of GBP200,000. Prices for Merrielands in Dagenham start at GBP84-875 for a 35% share of a 1-bedroom flat / Clarion housing. There are still one-bedroom apartments available with prices starting at GBP84-875 for a 35% share, full price GBP242,500. All homes have modern open-plan kitchens, private balconies or terraces, and all are fully furnished. The scheme is less than 30 minutes walk from the Thames and features communally-landscaped roof terraces as well as gardens. Wharf in Alpertonby Clarion HousingOffering a collection of contemporary-style one, two and three-bedroom apartments, available with shared ownership, each home at Liberty Wharf benefits from high-spec interiors, floor-to-ceiling windows and a balcony or terrace where buyers can enjoy canalside views. It is ideally located for city commuters as it is only a 10-minute walk to Alperton Tube Station, which can reach Hammersmith Tube Station in 22 minutes. Prices start at GBP83250 for a 25% share of a 1-bedroom apartment with a full cost of GBP333,000. at Liberty Wharf start at GBP83,250 for a 25 per cent share of a one-bedroom apartment. / Clarion HousingWoolwich Reach, North Woolwichby Notting Hill GenesisIf your goal is to find an affordable flat with great transport connections to the city, you should check out Thames-side Woolwich Reach of housing association Notting Hill Genesis. King George V Docklands Light Railway station can be reached in seven minutes. From here, you can reach Bank in less than 25 minutes, Canning Town within eight minutes, and London City Airport in two minutes. READ MOREIs it a good time for a property purchase? Prices start at GBP93,750 for a 25% share of a one-bedroom home worth GBP375,000.nhgsales.comValley House in Charltonby Peabody Prices start at GBP93,750 for a 25 per cent share of a one-bedroom home worth GBP375,000.nhgsales.comValley House in Charltonby PeabodyIf you’re searching in leafy and typically expensive Greenwich, where prices for a one-bedroom home cost an average GBP430,400 according to estate agent Foxtons, check out Peabody’s latest scheme, Valley House. A 25% share of a one bedroom apartment can be purchased by first-time buyers for GBP86250. The full value is GBP345,000. Each flat comes with its own outdoor space and access to landscaped gardens. There is also an on-site playground. North Greenwich station can be reached by bike in 10 minutes. Tube services to Canary Wharf and Stratford are available from North Greenwich Pier. House in Charlton has 25 per cent shares of one-bedroom apartments for GBP86,250 / PeabodyEvolution in Southallby Network HomesThe latest development from Network Homes, Evolution is in vibrant Southall, part of Ealing borough. The Broadway shopping experience includes jewellery, fabric, and spice shops on Evolution residents’ doorsteps. Prices start at GBP75,000 to buy a 25% share of a one-bedroom apartment that has a full market value in excess of GBP300,000. Each resident will have their own balcony and access to a podium-level garden and other communal spaces. Square: prices start at GBP83,750 for a 25 per cent share of a one-bedroom home / Broadway Central Square in HanwellBy Broadway LivingThanks to ongoing regeneration and improved connectivity once the Elizabeth line – Crossrail – is up and running, Ealing and Southall and surrounding areas in west London are fast becoming property hotspots. They are affordable for first-time buyers thanks to shared ownership. Broadway Living’s Central Square development in Hanwell has one- and two-bedroom apartments. Prices start at GBP83750 for a 25% share of a one bedroom home with a market value of GBP335,000. The scheme is located in a great location with lots of green space, and quick transport links to London Paddington.