London ‘second stepper’ homes for sale (ES)
Londoners paid £583,450 to take their second step on the housing ladder last year — a figure that has doubled in 12 years.
According to data from Hamptons, second-time buyers trying to move on from their first London homes may fall foul of a widening gap driven largely by the limited price growth of flats compared to houses.
By the end of 2022, the price difference between the typical first- and second-time buyer home stood at 32 per cent or £141,580, which is up from 11 per cent or £27,470 in 2007.
The gap was widest in Kensington and Chelsea, at 134 per cent, and narrowest in Newham, where would-be upsizers will need to make up a 21 per cent increase – or £78,720 on average – to secure their next home.
Given the saving efforts required, second steppers should be resolute in their mission for more space and a better standard of living.
We’ve rounded up 10 of the best upgrade homes on the market now.
South Woodford, E18
£550,000
Fieldhouse Close, E18 (Churchill Estates)
A three-bedroom end-of-terrace home on a quiet no-through road with an integrated garage and a large ‘blank-slate’ garden. Two local parks, Elmhurst Gardens and Churchfields Gardens, are within walking distance, as is the Central line at South Woodford station.
Churchill Estates, 020 8530 3333
East Dulwich, SE22
£550,000
Dunstans Road, SE22 (Pedder)
A stylish architect-renovated garden flat within a Victorian conversion facing Dawson’s Hill. There are two bedrooms — one created with a moveable partition wall — and a living room with a wood-burning stove. The flat also benefits from a share of the freehold.
Pedder, 020 8702 8222
Forest Gate, E7
£500,000
Strone Road, E7 (Stonebridge)
This three-bedroom, two bathroom family home is within walking distance of Upton Park tube and Forest Gate overground. It has two bright receptions rooms with high ceilings, a generous garden