First time buyers snap up affordable homes in Brixton

New homes development Fabrik by Notting Hill Housing, located in Brixton, south London, is selling out fast, illustrating strong demand for affordable homes in London.

The development, built in partnership with new homes developer Skanska, using a radical new construction technique known as Modernahus is the first of its kind in the UK. The fact that the new build apartments are 44% more energy efficient than traditional equivalents, coupled with the benefits of shared ownership, is proving popular among buyers attracted by the cost effective way of living in London.

The affordable homes are available through shared ownership, with shares between 35% and 75%, meaning that buy a new home in development from £47,187. This affordability combined with the appeal provided by the sustainable elements of the properties has generated considerable interest in the development. Over 70% of the homes at Fabrik have already been reserved.

The selection of one, two and three bedroom apartments include a broad range of eco-features, from water efficient fittings and under floor heating to a central biomass boiler. A selection of additional features are also available to residents, including bike stores and allotment spaces, helping to support residents in reducing their energy consumption and their fuel costs.

To be eligible to buy at Fabrik, you must live or work in London, and be earning at least £26,480 for a one bedroom. Priority will be given to Lambeth residents.

Mark Vaughan, director of Notting Hill Home Ownership, said: "Given the huge popularity of the scheme, we are encouraging potential buyers who are interested in Fabrik to contact us as soon as possible to ensure they do not miss out on the great opportunities this development provides.

"It is becoming increasingly important for developers to provide homes that will help families and young people to not only reduce their energy consumption, but their fuel bills too particularly in light of rising fuel and energy costs. The homes at Fabrik not only meet ambitious eco standards, but their modern design and contemporary fittings make them a desirable place to live for both young professionals and families."