Bow is an up-and-coming area for East End living
Bow has a varied history. This East End locality was once home to a nunnery and after a time serving the porcelain industry was almost destroyed in the Second World War by bombing. The aftermath of the war was a lot of cheaply built social housing and for a long time the area remained an industrial zone and not much else.
But in recent years it has begun to take on a different shape. It’s industrial buildings are being revamped or replaced and given a new lease of life. The total regeneration of the area will be ongoing for the next few years.
There have already been huge changes with the addition of restaurants, cafes and shops alongside many newly built and designed homes for people to enjoy. New schools and parks will compliment the transformation and now is the time to become a part of it.
Buying a home in Bow
Buying in the east end gives fantastic value for London. According to Rightmove the average cost of a property here is currently £400,000. This is among the cheapest in the city. The 10% deposit however, still posts a massive problem for a huge percentage of first time buyers.
The good news is that there are new shared-ownership homes available in Bow East. They have recently gone on sale and a one-bedroom flat is priced at £365,000.
Shared-ownership homes are now available in Bow
When you are eligible for shared-ownership this means that you only need to raise a deposit of c. £10,000 and your monthly repayments come in at less than £1230 per month for a 25% share of the property. This monthly price includes rent, service charges and mortgage repayments.
There are also two-bedroom properties available in the scheme. It is worth while checking out your eligibility for the scheme. There will be other opportunities to avail of it in future developments.
Thinking of living in Bow?
If you think that Bow might be worth further investigation then give our sales team a call. We have excellent knowledge of the locality and will be able to talk you through what we have on our listing currently.