When it comes to deposits on your first home, it’s a surprisingly long way. How does £3,250 sound?
Even when cutting back on holidays, treats and nights out (and the now legendary avocado on toast) in order to build up your savings, accumulating enough money for a deposit can seem nigh on impossible.
Industry body UK Finance has revealed that in 2024, for the typical first-time buyer in the south-east of England, purchasing without support from the Bank of Mum and Dad meant coughing up a deposit of nearly £72,000. In London, this figure doubled to just over £145,000.
Shared ownership offers a lifeline to aspiring home owners as deposits are much lower: according to Share to Buy, the average down payment on a shared ownership home in the capital is just shy of £28,000.
However, it really is possible to find a good choice of homes to buy with a deposit of £10,000 or less? These low-cost developments are all within Greater London or easy commuting distance.
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SO Resi Henley-on-Thames
Henley-on-Thames, Berkshire, RG9
Minimum deposit: £3,250
These one and two-bedroom flats are near the centre of this riverside market town and about a mile from the station.
Parking spaces and terraces or balconies are included, and £1,500 towards moving costs is offered to first-time buyers who reserve by November 21 and complete before Christmas.
From £32,500 for 10% of £325,000, soresi.co.uk.
Lampton Parkside
Hounslow TW3
Minimum deposit: £4,157
Located next to Lampton Park and a few minutes’ walk from Hounslow Central station, these flats come with their own outside space.
The flats have carpet in the bedrooms and Amtico flooring everywhere else, a utility cupboard complete with a washer dryer, and access to a concierge. One-beds are currently available.
From £83,125 for 25% of £332,500, nhghomes.com.
Quartoria
New Barnet, EN4
Minimum deposit £4,562.50
If the idea of living in a leafy suburb with fast transport links appeals, check out this collection of one, two and three-bedroom flats, all with a balcony or terrace.
Trains run from nearby New Barnet station into Highbury & Islington and Moorgate, and High Barnet Tube station is a short bus ride away.
From £91,250 for 25% of £365,000, sales.sng.org.uk.
Beaufort Park
Colindale NW9
Minimum deposit: £4,937
One and two-bedroom flats with balconies and use of communal gardens, in an up-and-coming neighbourhood that’s become a first-time buyer hotspot.
Supermarkets, bars and restaurants are on the doorstep and Colindale’s Northern line station is in walking distance.
From £98,750 for 25% of £395,000, placesforpeople.co.uk.
Square Roots Lewisham
Lewisham SE13
Minimum deposit: £5,125
Ready to move into, these one, two- and three-bedroom flats are part of a new riverside quarter with landscaped gardens, play areas, a communal rooftop terrace, shops and office space.
They’re conveniently just a seven-minute walk from Lewisham station, and all have private outside space.
From £102,500 for 25% of £410,000, squareroots.co.uk.
Rockcliffe Square
Woolwich SE18
Minimum deposit: £7,319
Some 300 homes share a site with the London South East Colleges’ (LSEC) upgraded Greenwich campus, which opens next year.
Ranging from studios to three-bedroom flats, they’re in easy reach of the Thames and three stations – Plumstead, Woolwich Arsenal and Woolwich for the Elizabeth line.
From £73,188 for 25% of £292,750, lqhomes.com.
Dagenham Green
Dagenham RM9
Minimum deposit: £8,100
Thanks to London’s lowest house prices and great connectivity, buyers are heading east to Dagenham, where a community is being created on the former Ford car plant.
The one, two and three-bedroom flats have outside space and will be ready for shared owners from spring 2026. Amenities include a concierge, workspace and use of a car club.
From £81,000 for 30% of £270,000, peabodynewhomes.co.uk.
Parkside Triangle
Waddon CR0
Minimum deposit: £8,125
One and two-bedroom flats, around green space and adjacent to a park. A leisure centre, station and Ofsted-rated outstanding and good schools and nurseries are within a few minutes’ walk, and you can be in Croydon town centre in 20 minutes.
Some homes have parking, and cycle storage and a three years’ car club membership are included.
From £81,250 for 25% of £325,000, hydenewhomes.co.uk.
The Willows
Aylesham, Kent, CT3
From £70,625 for 25% of £282,580
These semi-detached houses are in a quiet village with a close-knit community south-west of Canterbury. They include two double bedrooms and one single, two bathrooms, a kitchen-dining room and a separate living room.
The village centre – for shops, cafes and a primary school – is a short walk. placesforpeople.co.uk.
L&Q at Willow Grove
Wixams, Bedfordshire, MK42
From £112,500 for 30% of £375,000
Three-bedroom houses are among the fresh wave of homes coming this autumn.
Part of an established new community, they feature eat-in kitchens, adjoining dining rooms and plenty of storage space.
Supermarkets, schools and cycle trails are all close by and fast trains take only 40 minutes from Bedford station to London St Pancras. lqhomes.com.
Abbeville Park
Burgess Hill, West Sussex, RH15
From £125,000 for 25% of £500,000
Three-bedroom houses with generously sized rooms and gardens. Each has an open-plan kitchen, living and dining area, a ground-floor cloakroom, and en suite and family bathrooms.
London is 50 minutes by train from Burgess Hill station, which is a mile away, and several Ofsted-rated good schools are in the vicinity. placesforpeople.co.uk.
SO Resi
Cambourne, Cambridgeshire, CB23
From £126,250 for 25% of £505,000
A rare collection of four-bedroom shared ownership houses in a village with four good primary schools, nine miles from Cambridge.
Semi-detached and detached houses are available in the Sheepfold phase, and applicants reserving a qualifying home before October 31 will get £2,500 towards moving costs through a move-in-for Christmas incentive. soresi.co.uk.
Seasalter Meadows
Seasalter, Kent, CT5
From £127,500 for 30% of £425,000
It’s surprising that Seasalter isn’t better known, given that it boasts a lovely dog-friendly beach and a Michelin-starred pub and is far quieter than neighbouring Whitstable.
The upcoming launch of this development, which includes three and four-bedroom houses, may well put it on the map. hydenewhomes.co.uk.
Hounsome Fields
Basingstoke, Hampshire, RG23
From £166,250 for 25% of £665,000
With two play areas, a primary school opening on-site and a nursery in the pipeline, these three and four-bedroom houses are perfect for busy families.
And being only a mile from the M3 and 15 minutes from Basingstoke railway station, they’re well positioned for commuters. sales.sng.org.uk.
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