First-time buyer homes for sale in Brixton: hundreds of new shared-ownership flats hit south-west London hipster hotspot - with prices starting from £85k
Should someone tell you that just half a mile from Brixton Market you can buy a starter flat for £85,000, you might think they have enjoyed one too many mojito royales at Lounge in Atlantic Road.
However, the first of more than 100 affordable homes aimed at first-time buyers priced out of the gentrified areas of Brixton have just gone on sale, with more to be released next month.
One-bedroom flats at Electric Quarter start at £85,000 for a 25 per cent share.
As well as mortgage repayments, buyers will pay £539.06 a month rent, and £145.61 service charge.
The details
For a 25 per cent share of a two-bedroom flat at Electric Quarter
- Cost: from £102,500
- Rent: £640.63 per month
- Service charge: £145.61
- Monthly mortgage costs will vary
Two-bedroom flats start at £102,500 for a 25 per cent share, and rent on these larger homes will be £640.63 a month. The same monthly service charge applies. The flats are all about light, with dual-aspect living rooms and floor-to-ceiling windows. The colour palette is neutral — buyers can choose between, white, anthracite or “cashmere” kitchen units — so these homes cry out for someone to put a personal stamp on them.
The scheme is part of the transformation of Loughborough Park, a Thirties estate, in a joint enterprise between social housing specialist Guinness Homes and Countryside Properties.
Their regeneration programme will create almost 500 new homes to rent or buy in medium-rise blocks around a central courtyard, to a design by award-winning architects bptw.
ELECTRIC QUARTER
It’s a 12-minute walk from Electric Quarter to Brixton Tube in Zone 2, with the Victoria line to Oxford Circus, or Loughborough Junction has trains to St Pancras International in under 20 minutes. Green space is provided by Loughborough Park itself, while much larger Ruskin Park is a 10-minute walk away. The brilliant Ebony Horse Club, which gives inner-city kids the chance to learn to ride, is just up the road.
Brixton, so conveniently close, has more shops, bars, cafés, restaurants, delis and nightclubs than anybody could need, but if the new residents of Electric Quarter don’t fancy the walk, options around Loughborough Junction station include the Platform Cider Bar, and there are neighbourhood restaurants in the upper reaches of Coldharbour Lane.
Visit electricquarter.london
WHAT ELSE CAN I BUY?
Just east of Brixton, Loughborough Junction is one of those places which truly exists in station name only. It’s easier to say you live in Brixton. The junction is worth getting to know, however. Compared to its funkier neighbour, this low-profile location offers home-buyers significantly better value for money.
Nevertheless, you will still need a budget of about £500,000 for a two-bedroom flat. Oliver Burn is offering a two-bedroom raised ground-floor garden flat in a fine-looking period building for £500,000.
For better value still, consider Camberwell or Denmark Hill, with excellent transport links, proximity to Brixton’s shops and bars and some good period flats. Pedder has a roomy flat in Grove Lane, Camberwell, in need of TLC, for £415,000. For the same price, Your Move has a first-floor flat in Bromar Road. If you aren’t averse to a bit of postwar ex-local authority architecture, you could pick up a two-bedroom flat for about £300,000.