child mortarboard gbp briefcase bath coffeecup tree twitter search crosshair fax house papers sort house-pound brochure list-items notes printer video-camera video virtual-video bath bed camera floorplan heart-empty heart-filled heart-empty-thin heart-filled-thin sofa calculator compass share clock list map-pen map-pin pencil save business-card letter phone heard people pointer cross linkedin google-plus facebook arrow-right close triangle-down my-wink my-wink-thick house-circle loading-spinner bell close-circle dog link pinterest school transport wardrobe arrow-up one two three four five six seven tick

Outlook for first-time buyers in west London looking rosy

Whether you see it as a bastion of success, a place to put down roots or as an investment that the next generation can inherit, owning your own property is still an aspiration for many Londoners. After a few years of adverse property conditions hampering first-time buyers, 2015 is shaping up to be a great year for property novices. Entry-level properties for sale in west London can fall well below the London average of £523,953 - a figure provided by property portal Rightmove. Many apartments and flats for sale in west London - including those in places such as Willesden Green, Shepherd's Bush, Parsons Green and Ealing - are selling for less than £400,000, and the good news is the associated moving costs have never been cheaper. Add in some excellent market conditions and becoming a homeowner is looking more achievable for those moving out of a family home or from rented accommodation. In fact, the latest figures show that confidence among property novices in growing, with the number of first-time buyers in the UK increasing more than a fifth in 2014 - the third successive annual rise according to data from the latest Halifax First Time Buyer Review. Winkworth - estate agents in west London - shares the three key areas where first-time buyers have an advantage:- Help to Buy really is helping - the Government's Help to Buy mortgage guarantee initiative has shaved six years off the age at which people can afford their first home, claims a new report from broker Mortgage Advice Bureau. The average age of people buying a property for sale using the mortgage guarantee during 2014 was 31 - compared to the national average of 37. The Help to Buy scheme is designed specifically to help those with small deposits, including first-time buyers. Vendors are open to offers - the very latest data from the National Association of Estate Agents showed that nearly three quarters of houses sold in January 2015 were sold for less than the asking price, as confidence among buyers returns. West London estate agents are reporting a returning window for negotiation, which should help vendors with an onward purchase, as well as first-time buyers. Stamp duty reform makes moving cheaper - the associated cost of buying a property has dramatically fallen thanks to the Chancellor's reform of the stamp duty system back in December 2014. Buyers of houses and flats for sale in west London will make a saving as long as their purchase is less than £937,000. For example, if you are buying a property for sale in west London priced at £300,000, your stamp duty bill will be £4,000 less. Mortgage availability at its peak - banks have regained their appetite for lending and there are some great two and five-year fixed-rate products available for those that meet the lenders' criteria. The continuing record low interest rates and bank swap rates are keeping mortgage rates down, even for those with low deposits. If you are a first-time buyer looking at property for sale in west London, contact your local branch of Winkworth for moving advice, mortgage news and the latest selection of property for sale.

Whether you see it as a bastion of success, a place to put down roots or as an investment that the next generation can inherit, owning your own property is still an aspiration for many Londoners. After a few years of adverse property conditions hampering first-time buyers, 2015 is shaping up to be a great year for property novices. Entry-level properties for sale in west London can fall well below the London average of £523,953 - a figure provided by property portal Rightmove.

Many apartments and flats for sale in west London - including those in places such as Willesden Green, Shepherd's Bush, Parsons Green and Ealing - are selling for less than £400,000, and the good news is the associated moving costs have never been cheaper. Add in some excellent market conditions and becoming a homeowner is looking more achievable for those moving out of a family home or from rented accommodation.

In fact, the latest figures show that confidence among property novices in growing, with the number of first-time buyers in the UK increasing more than a fifth in 2014 - the third successive annual rise according to data from the latest Halifax First Time Buyer Review.

Winkworth - estate agents in west London - shares the three key areas where first-time buyers have an advantage:-

Help to Buy really is helping - the Government's Help to Buy mortgage guarantee initiative has shaved six years off the age at which people can afford their first home, claims a new report from broker Mortgage Advice Bureau. The average age of people buying a property for sale using the mortgage guarantee during 2014 was 31 - compared to the national average of 37. The Help to Buy scheme is designed specifically to help those with small deposits, including first-time buyers.

Vendors are open to offers - the very latest data from the National Association of Estate Agents showed that nearly three quarters of houses sold in January 2015 were sold for less than the asking price, as confidence among buyers returns. West London estate agents are reporting a returning window for negotiation, which should help vendors with an onward purchase, as well as first-time buyers.

Stamp duty reform makes moving cheaper - the associated cost of buying a property has dramatically fallen thanks to the Chancellor's reform of the stamp duty system back in December 2014. Buyers of houses and flats for sale in west London will make a saving as long as their purchase is less than £937,000. For example, if you are buying a property for sale in west London priced at £300,000, your stamp duty bill will be £4,000 less.

Mortgage availability at its peak - banks have regained their appetite for lending and there are some great two and five-year fixed-rate products available for those that meet the lenders' criteria. The continuing record low interest rates and bank swap rates are keeping mortgage rates down, even for those with low deposits.

If you are a first-time buyer looking at property for sale in west London, contact your local branch of Winkworth for moving advice, mortgage news and the latest selection of property for sale.

Related posts

West London property owners: are you a bricks & mortar millionaire?

New research has revealed that more than half of Britons own a home that is worth more than £1 million, which is an increase of 8.3%. As a west London estate agent, we were not surprised to learn that of the 10,958 streets in Britain with an average property price of more than £1 million, 43% of those are in London. When it came to...

Read post

July 30, 2015

West London market springs into life post election

For a time this spring it appeared the property market was on ice, comment west London estate agents Winkworth. The run up to the general election held a number of buyers back - both residential and buy-to-let - as they waited of the result of the general election and any property changes it might have brought. With a Conservative Government now the majority party, thoughts...

Read post

May 26, 2015

West London property, planning applications & neighbours

West London estate agents have been hearing murmurs on the smart streets of W11 regarding the actions of a very famous power couple. David and Victoria Beckham have submitted plans to ambitiously refurbish their detached residence in Holland Park. While it has been Victoria's reported desire for a room exclusively for her shoes that has grabbed the headlines, it is actually the couple's bid to...

Read post

May 06, 2015

Find your Local Office

Find your Local Office

Speak to people who, quite simply, love their patch and love what they do.

Get a Free Valuation

Get a Free Valuation

Thinking of selling or letting your property, or just interested to know what it is worth nowadays?