Prime SW2 location: Brixton new flats with shared ownership from £100,000 are five minutes from the Tube

The average home in Brixton costs £566,000 but there are less budget-busting options available. 
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Ruth Bloomfield13 November 2018

From riots and looting, through regeneration to rows over rampant gentrification, the transformation of Brixton has been perhaps the most dramatic reversal of fortunes of any London neighbourhood.

According to one recent study, buyers who want to live in SW2 now need to earn at least £67,000 to stand a chance — almost twice the London average salary.

But a new launch of shared-ownership homes will allow at least some first-time buyers to pick up a starter home there for a little over £100,000.

With a prime location just off Brixton Hill, homes at The Volt, from housing association Notting Hill Genesis, could barely be more convenient.

Brixton station is five minutes away, as is Brixton Market as well as the bars, shops, and restaurants of Coldharbour Lane. Brockwell Park is a bit more of a hike but offers bags of space for peaceful downtime.

“Brixton has experienced a positive shift over the past decade, and is now a popular hotspot among young professional first-time buyers who like the easy commute into the capital, the busy nightlife and a huge array of things to do locally,” says Jim Munson, head of marketing at Notting Hill Genesis.

From 106,250: for a quarter share of a one-bedroom apartment at The Volt, five minutes from Brixton Tube

“We are really pleased that The Volt is successfully helping first-time buyers reach their home-buying goals.”

Prices at The Volt start from £106,250 for a 25 per cent share of a one-bedroom flat. Buyers will need to put down a deposit of £10,625 and their monthly costs will include mortgage repayments of about £532, rent of £730 and service charge at £206.

Two-bedroom flats are priced from £146,250, again for a 25 per cent share. A deposit of £14,625 is required and monthly costs of just over £2,000 include mortgage repayments of about £733, rent at £1,005 and service charge of £264.

WHAT ELSE CAN I BUY?

The average price of a home in SW2 is a budget-busting £566,000 according to the latest data from Rightmove, though prices have remained fairly flat over the past two years.

With a maximum budget of £450,000 you can buy a property in Brixton, though you’re going to have to hunt hard.

Expect to pay about £350,000 for a one-bedroom flat and £400,000 to £450,000 for a two-bedroom home.

Dexters is currently selling a one-bedroom period conversion in need of a little TLC in Lyham Road for £360,000.

In really well-located Kellett Road, Keating Estates has a two-bedroom flat priced at £450,000.

£275,000: a one-bedroom flat at Art Deco purpose-built Pullman Court, Streatham Hill. Through Doorsteps.co.uk

For more bang for your buck head south down Brixton Hill towards Streatham Hill, where a two-bedroom period conversion would cost around £350,000 to £400,000.

Nested is selling a two-bedroom garden flat close to Tulse Hill station, in Palace Road, for £400,000.

You can also find one-bedroom flats for less than £300,000. Doorsteps.co.uk is selling a one-bedroom property in an Art Deco purpose-built block in Streatham Hill for £275,000.

Edward Ashdale estate agents is listing a one-bedroom flat in a grand Victorian house in Palace Road, again in need of some cosmetic upgrading, with a guide price of £289,995.