Flats at a long-delayed housing block in Charlton are on the market – and Housing Developer are asking £532,000 for a 2-bed flat.
The block is at Valley House beside a dual carriageway, major traffic junction and large supermarket car park.
Service charges are an additional £147 per month – which could rise sharply if other developments are a guide. See last week’s episode of Panorama for coverage on service charges.
Of course “Help to Buy” is emblazoned across adverts. Does anyone think without that scheme to “help” buyers (and definitely not developers) prices of £532,000 could be charged for small flats?
The sad thing is many who buy using Help to Buy are paying way over the odds, far more than local averages and could lose much money when it comes to sell.
A buyer can also look forward to council taxes rises of five per cent on top of those monthly outgoings, then rail fare increases due in January despite the pandemic. This is while many employers in the private sector plan pay freezes, and most public sector workers will see payment frozen except those on £24,000 or below – who won’t be able to afford this home.