First-time buyers received the disheartening news last month that the UK average house price has increased 8.9 per cent in the year to April. According to new research from Santander*, more aspiring homeowners are being forced out of the property market, with many delaying their plans to buy a home due to escalating house prices. The lender conducted a survey of 12,000 British adults and found that 52 per cent said that raising a deposit was the biggest issue facing first-time buyers.
However, purchasers keen to get their foot on the property ladder in Reading – Capital of the Thames Valley – will be delighted to learn that L&Q, one of the UK’s leading housing association and developer, is launching a Shared Ownership scheme in this buoyant, well connected town.
Shared Ownership offers a cost-effective way for aspiring homeowners to take the first step, by part-owning and part-renting a property, complete with the security and stability of owning their own home. With Shared Ownership buyers are only required to pay a deposit on the percentage share they buy, rather than the full value of the home. It is therefore a more affordable and practical scheme, designed as a stepping-stone to ultimately owning your own home.
L&Q, has partnered with a reputable developer, Berkeley, renowned for creating high quality, sustainable communities, to create a new landmark town centre scheme.
L&Q at Huntley Wharf is a brand-new collection of 115 contemporary one and two bedroom apartments and maisonettes – which are a part of Berkeley’s prestigious Reading riverside development, and will be available to purchase through L&Q’s Shared Ownership scheme.
Huntley Wharf will feature a riverside square with proposed local amenities to include a café, restaurant, local store, gym and nursery, plus landscaped open spaces along the river, complementing the transformation of Reading as an urban hub.
The L&Q apartments at Huntley Wharf will be finished to a high-quality specification with contemporary fitted kitchens featuring integrated appliances. Walls will be painted in neutral colours, complemented by Karndean flooring. The majority of homes include private outdoor space in the form of a balcony or terrace. Each home has access to beautifully landscaped podium gardens. Alongside these communal gardens, residents can enjoy the outdoors at the central Riverside Square and landscaped grounds which feature lush lawns, a range of colourful flowers and water features throughout the development.
For extra peace of mind L&Q offers an additional two-year warranty over and above the 10- year NHBC warranty.
The first phase of homes, are being released for sale on 17th July, and will be priced from £282,500.
