Charlie Vosper, sales manager at Lourdes in Limehouse said one-bed flats were like gold dust, so buyers needed to move fast and get organised.
“We don’t actually have any at the moment,” she said. “We just sold one around the corner for £425,000 before we even had a chance to advertise it on the internet.
“You have to be registered with the agency because we call our existing clients first. We don’t get a lot of people in chains and it’s a real mixture of first-time buyers and buy-to-let investors snapping up these kind of properties.”
First-time buyers with a healthy budget looking for a riverside view could find themselves a flat. For a cool half a million, you’ll get a home in a purpose-built block in Narrow Street or Limehouse Basin but there are more wallet friendly options. One-bed flats at the lower end of the scale starting at £300,000.
A two-bed, one bathroom flat in a purpose built block such as those above the shops in Fort Street and Narrow Street might go on sale for around £475,000.
Offers can go to final, sealed bids and Charlie said this could result in them selling for well over the asking price. Lourdes has an independent, in-house financial adviser who will assess the buyer to make sure they would be able to get a mortgage once they have made an offer.
When it comes to getting the most for your money, Charlie said: “A view adds 10% to the asking price, parking can put on £15,000 and as a rule, the higher the floor, the higher the price tag.
"Outside space is mainly limited to balconies but there are ground floor flats with small patio areas too.”
● Lourdes is a fully independent agency and has two branches – Limehouse and Aldgate. It has been operating for nine years. Covering residential and commercial sales, lettings and property management, they pride themselves on their excellent local knowledge and relationship with the locals. Award-winning, its achievements have been widely recognised including at The Wharf Property Awards.
Go to lourdes-estates.com or call 020 7538 9250.