Chancellor Rishi Sunak’s recent announcement that the first £500,000 of any property purchase will be exempt from stamp duty is exciting news for anyone hoping to make a purchase in London before the end of March.
If you’re looking to buy a home for under £500,000, you’d probably expect to be in an area like Streatham, Tooting or Willesden- and with good reason. These areas offer spacious properties, attractive neighbourhoods and good transport links, making them perfect for first-time buyers, rental investors and those looking for a pied-a-terre.
However, if you know where to look you can find properties under this price point across London, no matter the neighbourhood. Read on for our selection of the best properties under £500,000- whether you want a high-ceilinged mezzanine in south-west London, a perfectly proportioned pad right next to Hyde Park, or an apartment with period charm in lively Clerkenwell, we’ll have something to suit your tastes.
£300k and under
£250k: Drewstead Road, SW16
This beautifully presented Victorian conversion studio apartment is located on Drewstead road within minutes of Streatham Hill station, and would be perfect for a first-time buyer looking to take advantage of the lively shops, bars and restaurants in the area.
This spacious one-bedroom flat in Brixton would be a fantastic purchase for a first-time buyer or a purchaser looking to make a rental investment. It’s close to Stockwell, Oval and Brixton Underground stations; superb for accessing central London.
Situated close to Norwood High Street, Tulse Hill, and Streatham Hill stations, this stunning first-floor flat consists of an open-plan kitchen/living room, a separate shower room and a double bedroom.
400k and under
Willesden Green is another area known for good-value, spacious properties such as this one-bedroom flat with high ceilings and ample space for dining, located in sought-after block moments from Gladstone Park.
350k: Brixton Road, SW9
This charming top floor flat is located in a beautiful period building on Brixton Road and consists of a large double bedroom and an open-plan kitchen/living room. It’s perfect for first-time buyers who want to be close to everything Brixton has to offer.
350k: Kendal Court, SW14
Leafy south-west London also has some more affordable areas if you know where to look. This delightful one-bedroom ground floor flat on Kendal Court is just around the corner from Mortlake station and the Thames, and has a spacious, modern kitchen, a well-proportioned double bedroom and a lovely bathroom.
You may be surprised to learn that it’s possible to buy in a prime location like Lancaster Gate, right on the edge of Hyde Park, for under £400k- but it’s true! This light-filled, intelligently designed property offers further potential to improve and would be a fantastic purchase for anyone looking for a pied-a-terre or rental investment right in the thick of it.
£450k and under
With its lively selection of popular bars, restaurants and shops and spacious homes at more affordable prices, it’s no wonder that Tooting is popular with buyers looking to get the most out of their money. This stunning flat is filled with natural light and consists of two double bedrooms, a beautifully presented open-plan kitchen/living area and a spacious family bathroom.
This gorgeous mezzanine flat is in a Victorian redbrick building halfway between Hammersmith and High Street Kensington. With an elegant reception/dining space with high ceilings, a modern kitchen with integrated appliances and a bedroom tucked away on the mezzanine level, it’s would make the perfect pied-a-terre or first-time investment.
£425k: Gloucester Terrace, W2
For those that don’t want to compromise on location, transport links or affordability, you can’t get better than this one-bedroom flat on Gloucester Terrace right next door to Hyde Park and Paddington. On the raised ground floor of an attractive stucco-fronted Victorian Terrace, the apartment has high ceilings, an open-plan kitchen/dining room, a separate kitchen, a double bedroom with good storage space and a smartly finished bathroom.
This Georgian one-bedroom flat, with its high ceilings, large windows and plenty of natural light, would be hard to resist for any buyer looking for a London home with plenty of period charm and character. It’s also got great transport links and open green spaces nearby, as well as the culinary delights of Chapel Market and Exmouth Market.
This charming two-bedroom flat is located on the second floor of a Victorian building positioned between Clapham Common and Battersea Park. With two bedrooms, an eat-in kitchen, a separate reception room and a south-facing private terrace, it would make an ideal home for anyone who wants to take advantage of everything that Battersea and Clapham have to offer.
£500k-£451k
This light-filled, spacious two-bedroom flat has a living room with exposed brick walls, a separate eat-in kitchen, two well-proportioned bedrooms and a family bathroom. The property also benefits from a spacious garden with plenty of room for seating, and off-street parking.
£475k: Clear Water House, TW10
This spacious ground floor two-bedroom apartment is situated on the prestigious Richmond Hill and presented in fantastic condition. It consists of a spacious reception room, a modern kitchen with integrated appliances, two bedrooms and a modern bathroom. As a retirement property, it is only available to those aged 55 and over- perfect for those looking to downsize but wanting to remain within easy reach of central London.
Maida Vale is a prestigious pocket of London known for its canals, secret communal gardens and independent shops and eateries. For those looking to buy into the area, this lovely two-bedroom apartment on the first floor of a well-maintained Victorian conversion would be a good choice.
£499,950: Old Bethnal Green Road, E2
Approaching £500k can buy you a spacious three double bedroom apartment on Primrose House in the heart of lively Shoreditch. This property is well-proportioned throughout and benefits from a private balcony overlooking landscaped gardens. The popular Broadway and Columbia Road Markets are within walking distance, offering vibrant bars, cafes and restaurants.
Planning to take advantage of the stamp duty holiday? We’ve got plenty more properties that will fit the bill here.
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