London’s families are feeling the squeeze, according to recent statistics by Savills which reveal ‘upsizers’ looking for an extra bedroom need to find an additional £320,000 in order to move. A typical two-bedroom apartment in the capital costs just over £500,000, yet the average cost for a three-bedroom property is almost £820,000, leaving many first-time buyers stuck in a home too small for their needs, especially if children arrive. Offering an alternative way to make that second step up the property ladder, a limited collection of three bedroom apartments is available at Notting Hill Sales’ Oval Quarter development in SW9, to purchase through Shared Ownership.
Perfect for young families looking for an affordable way to move up the property ladder, Shared Ownership allows purchasers to buy between 25% and 75% of the property value, paying subsidised rent on the remainder. Residents can then increase their share at any time, all the way up to 100% and outright ownership.
Oval Quarter is just ten minutes to the heart of the capital, yet the area is surprisingly quiet and leafy. The development brings more than 800 new homes making the area a smart, central and popular location to live, boasting 21 nurseries, primary and secondary schools within one mile, ideal for raising a family.
Jenny Murphy, Head of Sales and Marketing at Notting Hill Sales, comments: “Finding an affordable home with plenty of space is so tricky in central London, which is why we’re so pleased to be offering these three bedroom apartments in SW9. Oval Quarter has been a very successful development, bringing together a range of buyer types to create a brand new community. Families will feel right at home here.”
The last remaining three bedroom apartments in the popular enclave boast a high quality specification, with spacious, open plan living / dining / kitchen areas that allow families to spend some quality time together. Kitchens come complete with white gloss fitted units and stainless steel fixtures and fittings, plus a range of Zanussi and Smeg appliances such as dishwasher and fridge/freezer. Bathrooms are fully tiled, with crisp white suites.
Oval Quarter boasts a fantastic location for local amenities. Brixton, Clapham, Stockwell and Camberwell offer a range of restaurants and eateries with cuisine from around the world, while high street stalwarts Boots, Marks and Spencer and Sainsbury’s are all close by. A Tesco Superstore and two Express mini-stores are within a short walk away for the weekly shop. The area enjoys a range of education options, with several nurseries and 15 schools catering to all ages, just a short walk from home.
Oval station, just a short walk from home, offers connections on the London Underground by way of the Northern line, which now runs 24-hours over the weekend. Bank, London Bridge, Waterloo (for the South Bank) and the West End are all easily reachable, as well as the Eurostar from Kings Cross St Pancras. With just a quick change to the Victoria line at Stockwell, there are even more connections and destinations to choose from. Fifteen bus routes operate in the local area, including five night buses and two 24-hour services, making the area one of the most well connected in South London.