Emma Denton, for Bellway Homes Thames Gateway division explains why Poplar is fast becoming an attractive area for first-time buyers
For young professionals wanting to make the most out of the Chancellor, MP Philip Hammond’s announcement to abolish stamp duty up to £300,000 – homebuyers in E14 can now take a more realistic approach to getting on the property ladder.
First-time buyers looking to get onto the property ladder in a convenient East London location are being drawn to Poplar, where property prices are 10% lower than nearby Canary Wharf, according to Zoopla data. Poplar is an attractive location for those looking to get on the property ladder, for example, our Lansbury Square development that has seen over three quarters of purchasers, who are first-time buyers, drawn in by the high specification apartments that also offer concierge and a residents’ gym.
Those young professionals looking to buy in Poplar can save not only because of the new abolishment of Stamp Duty up to £300,000, but can also take advantage of Help to Buy and free furniture packs too. The Government backed scheme is available on all apartments at our Rifle Street development, giving further assistance to those wanting to get onto the property ladder. With an extra £10bn promised in the recent Budget, first-time buyers in particular are set to continue to benefit from the support the scheme offers. Nationally over 80% of homes purchased through Help to Buy were first-time buyers and at Lansbury Square more than 75% of purchasers are buying their first home.
Since the Government upped their assistance to London buyers early last year, offering an interest free equity loan of up to 40% of the property value, there has been a surge in the number of London purchasers using the scheme, putting home ownership within reach of those who could not otherwise afford to buy. Combining
the relative affordability of Poplar with the added assistance from Help to Buy, the one and two-bedroom apartments at Lansbury Square are selling fast and also offer a fantastically convenient location to live. The one-bedroom apartments have been particularly sought after and a new release is now available with prices starting at £387,995.
Our apartments are carefully designed with contemporary architecture and a high quality interior specification.
So, for those worried about how to make their first property purchase we will reduce stress and minimise outgoings by overseeing the process of your new apartment.
For further information and to register your interest call 01689 886431 or visit www.bellway.co.uk