London properties for sale with renovation potential:hot fixer-upper homes for first-time buyers priced below £450k

No longer just for interior designers or DIY experts, homes renovations are proving a hit with the capital's have-a-go first-time buyers. We find projects with bags of potential priced below £450k...

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Demand for first-time buyer homes in the capital remains stronger than ever, with more buyers than ever searching for "fixer upper" homes in order to take their first step on the property ladder.

With the average price of a London starter home now reaching £468,000, handy home hunters are turning to unmodernised properties in well-connected areas to find more space on tight budgets. 

"Buyers want to determine whether or not to extend a small kitchen, for example – particularly if an extension will compromise their outside space, and they don’t want to pay a premium for someone else’s interior design preferences," says Wayland Ward-Smith, Partner at Carter Jonas Fulham.

In the outer London boroughs of Brent, Redbridge and Harrow, home improvement planning applications are soaring as home owners choose to add value to properties rather than compromise on space. 

The east London borough of Barking and Dagenham is still the best bet for the capital's first-time buyers, with average prices of £288,000 and flats available under £200,000. 

Yet, in the same borough a three-bedroom home is for sale for £225,000. In need of modernisation, it would be ideal for a buyer looking for a DIY challenge and is just a short walk from Chadwell Heath station where train journeys to London Liverpool Street station take less than 30 minutes. 

Or, in the west London borough of Hillingdon, which will have two stations on the high-speed Crossrail route, average house prices are now £478,104. This two-bedroom semi-detached home is for sale for £369,950. It needs an update, but benefits include off-street parking and a private rear garden.

There are plenty of renovation opportunities in key parts of the capital that are tipped for further growth with eagerly-anticipated transport launches and line extensions on the horizon.

If you're up for the challenge, take a tour of our pick of London's hot renovation projects currently for sale under £450,000 in our gallery above...


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