With the average United Kingdom house prices rising to £205,000, the apartments are well priced, let alone within the competitive London property market.
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Properties in the Galliard development in Hounslow are available from £199,000 for a 28 sq metre “suite”. One family even started queuing for the homes on Wednesday morning.
Developer Galliard Homes said it expected more than half of the flats would be sold outright tonight.
David Galman, sales director at Gallliard Homes, said: “Over the last two years we have focused on providing London buyers with high quality, competitively priced, value for money homes that are ideal for first time buyers, parents buying for student offspring or canny investors”.
“We are proud to continue our role in providing much needed housing and contributing to the regeneration of London”.
Studios start from 301sq ft and the one-bedroom apartments from 484sq ft – both of which are still smaller than the size of a few London Tube carriages.
But the studios sold at an average price of £250,000 ($379,400), a few £50,000 ($75,800) above the asking price.
In comparison, one-bedroom flats further along Staines Road are being offered for sale in Bellevue Court with a number of different estate agents starting from £225,000. One bed flats sold for prices averaging £305,000 ($462,900).
A spokesman said: “It’s good if they are selling to first time buyers and people who have patiently been saving up while renting”.
The flats themselves are pretty impressive for “first-time homes”.
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Affordable flats in London are so hard to come by that wannabe buyers are actually camping outside this block. The new development is a luxury apartment block but at a third of the price of other similar looking properties. It is in the former American Airlines European headquarters building, built in the 1980s.
