First-time buyers need less than a £7,000 deposit for a home at East City Point

East City Point 2According to figures released by Halifax earlier this year, a first-time buyer needs a deposit of around £106,000 (or 23 per cent) to buy a new home in the capital, making homeownership out of reach for most Londoners.

However, at East City Point – Clarion’s stunning new development in Canning Town – buyers can get their foot on the property ladder with a total deposit of less than £7,000.

Through Shared Ownership, buyers can get their hands on a 25 per cent share of a two-bedroom duplex for £120,625, with a full market value of £482,500.

Canning Town is ideally located at the heart of some of London’s most dynamic districts, including Canary Wharf, Stratford and the City. This scheme is also part of a £98m regeneration project which is transforming Canning Town into the next up-and-coming part of the East End.

The homes are constructed and finished to a high standard to ensure that they are not only comfortable, but built to last. A selection of the properties even boast their own parking and terrace.

Buyers will benefit from a variety of energy efficient measures which are designed to keep fuel bills down - including a high level of insulation, low energy lighting and water saving spray taps.

Open day at East City Point

Clarion is hosting an open day on Saturday 28th October at the development and buyers can book a tour by calling 0207 539 3745 or emailing clarion@redloft.co.uk.