SO Resi Canning Town homes still available at east London hub

With 17 apartments remaining, buyers have the chance to purchase shared ownership homes

SO Resi Canning Town is located in a bustling east London neighbourhood

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There are 17 chances left to get on the property ladder at SO Resi Canning Town.

Well over half of the shared ownership properties at the east London scheme – a collection of 37 one, two and three-bedroom homes located at the Manor Road Quarter development – have already sold.

But there’s still time to pick up a share and, with mortgage costs likely to fall if the Bank Of England cuts the base rate, the apartments are looking ever more affordable.

“SO Resi Canning Town offers a real opportunity to purchase a Zone Two apartment in 2025” said Kevin Sims, director of SO Resi, the shared ownership brand of Metropolitan Thames Valley Housing, the fifth largest housing association in the UK.

“Proposed plans from Newham Council mean the new town centre is set to be home to a new community hub, cinema, shops, office spaces, as well as brand new shared ownership homes.

“By choosing from our final 17 properties, prospective homeowners are set to gain a foothold in London’s property market alongside becoming a part of a vibrant and emerging community.”

There are 17 properties still up for sale

getting on the ladder for less

While a first-time buyer purchasing a property worth £395,000 at SO Resi Canning Town might normally expect to have to find a 10% deposit of £39,500, the government-backed shared ownership scheme means raising significantly less up front.

For a 25% share of that apartment, worth £98,750, they could secure a deal with a 5% deposit of just under £5,000, paying rent on the unowned portion of the home as well as the service charge.

Owners then have the option to increase the share of the property they own in a process called staircasing, decreasing the rent payable on a home.

SO Resi Plus offers owners the opportunity to incrementally increase their stake by 1% each year with no additional fees or valuations, a scheme that has proved so successful it is now available nationwide.

The Canning Town apartments themselves feature open-plan living areas, fully fitted kitchens with Zanussi appliances and solid timber floors.

All enjoy private balconies and feature built-in storage solutions, with living spaces ranging from 557sq ft to 971sq ft.

The area is increasingly attractive to buyers with extensive regeneration ongoing and a multitude of transport links connecting it to the rest of the capital.