Many of our Tenants decide to move as they are buying their own home, a lovely reason to tell our Landlords!
A couple of the most popular areas where house hunters want to buy are Brixton and Balham. Brixton has so much to offer with a high street brimming with branded shops, independent cafes and trendy clubs, then there is Balham which has a slightly more relaxed pace, again there is a high street stocked with well-known brands, some cosy coffee shops and restaurants offering delicious cuisines.
Looking at the average current value of a property in SW2, Brixton this being £541,600.00, there is a difference of £328,300.00 lower than the average property price in SW12, Balham which is £869,900.00. Comparing these figures to the average earnings in the same areas, Brixton is £32,569.00pa and slightly higher is £38,881.00pa in Balham, therefore the ratio between the average property value to average salary means one would have to borrow an extra 5.74 times their salary to buy a property in Balham rather than Brixton.
Brixton appears to be more affordable but personally I prefer a more relaxed pace of life.
Contact us to discuss your property journey.