London got 13,000 affordable homes last year.

That leading sentence may surprise you – it did with us.

Any quick glance by you or our team at Rightmove or Zoopla shows that London property is still one of the most expensive places in the UK. Buying a property in London is a pipe-dream for many – but last year over 13,000 affordable homes were built and sold in the capital.

We’ve tried, without success, to find out what these affordable homes cost, though we have unearthed data that shows many of these purchases were for shared equity schemes in places like Newham, East London.

These deals have allowed buyers to acquire a mortgage for a 25% stake with the developer or local authority holding the other 75%. Now this certainly means a £600,000 home, for example, becomes a property with a mortgage of £150,000 but that still exceeds the absolute abundance of affordable homes in places like Leeds, Sheffield and Wakefield.

Providing you meet strict mortgage lending criteria, and can find a deposit, you don’t have to equity share in cities in the north.

We have a one bedroomed flat, perfect for investors, in Seacroft with an asking price of under £40,000, believe it or not and terraced homes in Harehills, Gipton, Burmantofts, East End Park and Beeston can be bought with full ownership for less than a quarter share in east London.

What’s more, these make great investments with capital growth and few void periods as we have many tenants on our vast database.

Let’s show you these examples:

This flat has an asking price of £38,000.

Full details here

Whilst this 2 bedroomed semi-detached home closer to Leeds city centre has an asking price of offers in excess of £115,000.

It sits on a large plot, has gas central heating and has a separate shower cubicle in the bathroom – for offers over £115,000. Furnished too!

See more here.

Now obviously, Leeds isn’t London – but where would you choose as a buyer or investor?

East Leeds where you can find homes from £38,000 or East London where you can pay more in mortgage payments for a quarter share?

You and I know the answer – choose Leeds, choose Hogan’s.

If you’ve got a property to sell quickly, we can make a cash offer or fast track a sale to our database of qualified buyers and investors.

Email enquiries@hogans.co today or call Stephen on 0113 235 1025 for solid property investment advice.