Posted: 20 August 2013 by Higgins Homes
With rental prices rising, on average, at least 8% over the last year*, many renters in the capital are finding it difficult to raise a deposit for their first home. However, one such tenant who went against the odds was 29 year old Sarah Johnson.
Snapping up a one bedroom apartment at the South central London development, Oval Quarter, Sarah was met with an affordable price tag for her first property without having to sacrifice her dream of living in a central London location. Before buying at Oval Quarter, Sarah had already rented in London for six years.
She commented: 'Renting in London is very expensive and in hindsight it felt like a waste of money. I decided it was time to buy my own place and finally put down roots in London.' Sarah continued: 'I immediately fell in love with Oval Quarter and the high standard of the development. Plus, buying off plan, will enable me to start from scratch and give me the chance to decorate it how I want to. Before I was always sharing with others when renting, so it is very exciting having my own place.' With its convenient zone two address, and short walking distance to Oval tube station, the location was perfect for Sarah, who said: 'The fact I will be able to cycle to work in 25 minutes, and have somewhere to store my bike will make my journey a lot easier.' Sarah was particularly impressed with the quality of the build at Oval Quarter, commenting: 'I bought off plan, so I just had floor plans and CGI's to look at and make my decision. I went on site last week and was able to visit my apartment, which was really exciting. It's amazing to see it develop. I really liked the specification of the apartments, with the open layout and modern fittings and fixtures.'
Oval quarter comes as part of a wider regeneration of the local area, something that Sarah was particularly interested in. She said: 'I think this development will really help boost the area, bringing in new amenities and services, lifting and reviving the community, whilst bringing new people to the area.' Sarah continued 'It's really nice to see an emphasis on establishing a new community with wide walkways and outdoor community space, a rarity in the heart of London. I think the development will provide a great balance of both old and new communities.' On the regeneration she concluded: 'This regeneration project is a reflection of the entire wider area including Vauxhall and Brixton. It's becoming a real hotspot for this part of South London.'
*GLA London Housing Market Report http://www.london.gov.uk/priorities/housing-land/publications/london-housing-market-report-q4-2012