New research has revealed how much home buyers need to be earning to purchase a home across London’s Underground network. According to the new figures by TotallyMoney, commuters hunting for a home that offers easy access to Brixton’s underground station need to be earning an annual income of around £67,000[i], almost double the average London salary of £34,991[ii]. Helping to bridge the gap and provide an affordable route to homeownership in the capital, is Notting Hill Genesis’ new Shared Ownership development, The Volt. Located in one of south London’s coolest districts, Brixton, purchasers can own a one-bedroom apartment with a deposit starting from just £10,625.
Located in the heart of central Brixton, The Volt comprises a stylish collection of 14 one and two-bedroom apartments. Ideal for young Londoners desiring to get on the property ladder, Shared Ownership allows buyers to purchase a share of their new home, between 25% and 75%, while paying subsidised rent on the remaining share. Purchasers can also choose to buy additional shares (known as ‘staircasing’) as and when they can afford to, right up to 100%.
Residents at The Volt are ideally placed to enjoy the vibrant and youthful lifestyle that has become synonymous with the SW2 postcode, as well as excellent transport links. Both Brixton underground station and train station are around six minutes’ walk away. Brixton tube station is served by the Victoria Line and provides fast and easy commutes into central London. National rail services run into Victoria in less than ten minutes, and nearby Loughborough Junction station, on the Thameslink network, offers routes to Blackfriars (9 minutes) Farringdon (14 minutes) and St Pancras (18 minutes).
Jim Munson, Head of Marketing at Notting Hill Genesis comments: “Brixton has experienced a positive shift over the last ten years, and is now becoming a popular hotspot among young professional first-time buyers who like the easy commute into the capital, the busy nightlife and a huge array of things to do locally. We are really pleased that The Volt is successfully helping first-time buyers reach their home buying goals, with almost 50% of our apartments now reserved, we would urge buyers to act now and register their interest with us to avoid missing out.”
All of the Shared Ownership apartments have been built to a high standard and offer a contemporary specification and layout that perfectly reflects today’s busy city lifestyles. Kitchens are modern in design and fully fitted with a range of integrated Bosch appliances. Master bedrooms feature fitted wardrobes and the open-plan living and dining areas have been thoughtfully considered to maximise space and offer a relaxing area to unwind. All apartments feature their own outdoor space in the form of a balcony or terrace.
There is a host of eclectic landmarks on the doorstep for residents of The Volt to explore. The award-winning Brixton Village Market is just a ten-minute stroll away and offers a wonderful mix of street food flavours and independent retailers. POP Brixton, host to a variety of independent shops and local restaurants, retailers and designers, is less than a mile away. Well known for its lively nightlife, the venues that surround Brixton provide a cultural mecca to enjoy. Set around the iconic Windrush Square is Electric Brixton and, Prince of Wales Rooftop and Club, Hootanannys, The Ritzy Picturehouse as well as one of London’s most famous music venues, the O2 Academy Brixton are all within walking distance.
For residents who like to explore outdoors, Brixton is not short of green spaces to retreat to, despite being located so close to the centre of the capital. Less than one mile from home is the award-winning Brockwell Park, host to the much-loved local lido, where residents can take in views of the London city skyline while having lunch and a coffee at the café. Other amenities include tennis courts, a bowling green and football pitches. Brixton Recreation Centre is a ten-minute walk away, perfect for a quick workout in the gym before or after work, a swim or participate in one of the many fitness classes available.
Prices for a one-bedroom apartment start from £106,250 based on a 25% share with a full market value of £425,000. For more information, contact Notting Hill Genesis on 020 3815 2222 or visit www.nhgsales.com