London - which area for a first flat?

London - which area for a first flat?

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sleep envy

62,260 posts

248 months

Thursday 16th August 2012
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okgo said:
Apparently the next place to be is Homerton!

Many people I know have shipped out of Shoreditch as its not trendy enough now, and are moving up towards Haggerston/Dalston (which frankly, are fking stholes full of chickenshops). But if you're into that kind of thing...
30 years ago it was Ladbrook Grove and Holland Park, 15 it was Shoreditch but Homerton?

Only downside to Dalston being regentrified is that there's only the train into Liv St.

housen

2,366 posts

191 months

Thursday 16th August 2012
quotequote all
hmmmmmmmm

it really is a tough one

i think when u start looking ull relise 500k doesnt get you very far if you want to be in a good area

im currently bidding on 1 beds in the areas i want to be

there isnt a huge choice atall

but i really do get the feeling londong will soon all be sold out , there is such a squeeze on and alot of stuff i have seen has been bought and rented out by the investor immediatly

sleep envy

62,260 posts

248 months

Thursday 16th August 2012
quotequote all
BJG1 said:
What about somewhere like Crouch End? Will get something well within budget there and it's a nice area. Also lots available in N1 at that price range.
NO tube which is what the OP wanted.

BrabusMog

20,075 posts

185 months

Thursday 16th August 2012
quotequote all
OP, whereabouts do you work?

I lived in Deals Gateway for a year which, quite literally, has it's own DLR station in Deptford Bridge. The major drawback of course being it was right next to Deptford. But you could either drive straight across the road and head towards Greenwich or turn right and 3 minutes up the A2 and you're in Blackheath Village. DLR into town is very good if you work in the City/Canary Wharf or even West End. Being towards the start of the line meant I normally got a seat. Plus with the East London line extension in New Cross you can get up to Shoreditch in no time now. My maintenance fees included access to the gym and swimming pool although this is now quite common in new developments I believe.

I have also lived in Mile End, Elephant & Castle, Blackheath and now live in Clapham/Brixton area, so feel free to PM me if you want to know anything about these areas. All spaces have their drawbacks and, if you want the tube, South isn't as good as North but a lot of people seem to forget the overland.

BJG1

5,966 posts

211 months

Thursday 16th August 2012
quotequote all
sleep envy said:
BJG1 said:
What about somewhere like Crouch End? Will get something well within budget there and it's a nice area. Also lots available in N1 at that price range.
NO tube which is what the OP wanted.
True, maybe Highgate then. Loads of tubes in N1 obviously.

will_

6,027 posts

202 months

Thursday 16th August 2012
quotequote all
sleep envy said:
BJG1 said:
What about somewhere like Crouch End? Will get something well within budget there and it's a nice area. Also lots available in N1 at that price range.
NO tube which is what the OP wanted.
Which is a frankly bonkers restriction. Places near overland stations can be much cheaper, and actually quicker door to door (depending, of course, where you're going). People assume that if you're not near a tube you're effectively housebound.

z4chris99

11,216 posts

178 months

Thursday 16th August 2012
quotequote all
it is much handier being near a tube, I used to live in sands end and was a ball ache either walking to fulham broadway 20 mins or getting the overground from imperial wharf. just not an easy way to start the morning

i now live 2 mins from Liverpool st / aldgate east and would now never live over 5 mins walk from a tube

scenario8

6,548 posts

178 months

Thursday 16th August 2012
quotequote all
It's funny how on this thread we grumble that £500k doesn't get you much (in the way of a flat) in "good parts" while in the other relocation thread currently running there is incredulity from the North and from Kent that £500k is required to buy a very modest three bed house with a garden and osp in the outer SW postcodes. And to be fair the areas mentioned in this thread aren't exactly A grade postcodes either.

While I may be disappointed it takes much more than half a million quid to buy a small family home in Kingston I genuinely can't understand the maths required for a first time buyer to spend half a bar on a small flat in a more central London location.

Those outside the London bubble must think it's mad. Which it appears to be, of course.

sleep envy

62,260 posts

248 months

Thursday 16th August 2012
quotequote all
scenario8 said:
Those outside the London bubble must think it's mad. Which it appears to be, of course.
That's the free market economy for you smile

housen

2,366 posts

191 months

Thursday 16th August 2012
quotequote all
scenario8 said:
It's funny how on this thread we grumble that £500k doesn't get you much (in the way of a flat) in "good parts" while in the other relocation thread currently running there is incredulity from the North and from Kent that £500k is required to buy a very modest three bed house with a garden and osp in the outer SW postcodes. And to be fair the areas mentioned in this thread aren't exactly A grade postcodes either.

While I may be disappointed it takes much more than half a million quid to buy a small family home in Kingston I genuinely can't understand the maths required for a first time buyer to spend half a bar on a small flat in a more central London location.

Those outside the London bubble must think it's mad. Which it appears to be, of course.
yes im torn btwn a 1 or 2 bed flat around london bridge

or a 4 bed house in west wickham

i wanna be in a cool area but im also 31 so ill be having kids soon

and ill have chamge from 550k with the house

Edited by housen on Thursday 16th August 12:15

BrabusMog

20,075 posts

185 months

Thursday 16th August 2012
quotequote all
That's because it is mad wobble But we all like living in London so we have to pay the premium. I'll enjoy my retirement in the Cotswolds but whilst I'm still (relatively) young, I want to be able to do what I want, when I want and outside of major cities it isn't that easy to do.

Gwagon111

4,422 posts

160 months

Thursday 16th August 2012
quotequote all
Hackney Wick is an area you may want to look at. It's starting to get the 'early days of Hoxton / Shoreditch, before all the knobends moved in' vibe about it. I reckon it'll be ruined in about a years time then. If you want to get 'in on the ground floor', then that's where I'd be looking.

will_

6,027 posts

202 months

Thursday 16th August 2012
quotequote all
z4chris99 said:
it is much handier being near a tube, I used to live in sands end and was a ball ache either walking to fulham broadway 20 mins or getting the overground from imperial wharf. just not an easy way to start the morning

i now live 2 mins from Liverpool st / aldgate east and would now never live over 5 mins walk from a tube
Sure, but that's very limiting and you'll get better "value" (i.e. space) if you remove that restriction. In terms of finding a good value London pad it's helpful to at least think outside of the box and not write everything off that isn't within 5 minutes of the Tube.

At rush hour it's often quicker to get to the City from Mortlake than Fulham. And you'll most likely get a seat.

housen

2,366 posts

191 months

Thursday 16th August 2012
quotequote all
i dont undertand why people say hackney etc is like shoreditch a few years ago

shoreditch is BANG in the middle of london ...the area is a hub to commuters and finance

all this hackney bow e25 yit is quite far out and on the way to no where

it will never be like shoreditch was on its rise

plus it aint cheap anyway

okgo

37,712 posts

197 months

Thursday 16th August 2012
quotequote all
housen said:
i dont undertand why people say hackney etc is like shoreditch a few years ago

shoreditch is BANG in the middle of london ...the area is a hub to commuters and finance

all this hackney bow e25 yit is quite far out and on the way to no where

it will never be like shoreditch was on its rise

plus it aint cheap anyway
I think they're possibly talking about the nightlife. And the other places are pretty central too...

eastsider

1,101 posts

222 months

Thursday 16th August 2012
quotequote all
BJG1 said:
True, maybe Highgate then. Loads of tubes in N1 obviously.
hahahaha have you seen what £500k buys you in Highgate?? Archway or holloway road, yes, but that is a sthole.

eastsider

1,101 posts

222 months

Thursday 16th August 2012
quotequote all
housen said:
yes im torn btwn a 1 or 2 bed flat around london bridge

or a 4 bed house in west wickham

i wanna be in a cool area but im also 31 so ill be having kids soon

and ill have chamge from 550k with the house
If you are serious about kids soon ie <5 years then go for a house further out now.

If you buy a central flat now at £500k the stamp duty is £25k, it won't go up that much in the next few years, maybe not even £25k. When you move in a few years to a house you will effectively write off that £25k and indeed pay the same/more again.

iphonedyou

9,230 posts

156 months

Thursday 16th August 2012
quotequote all
scenario8 said:
While I may be disappointed it takes much more than half a million quid to buy a small family home in Kingston I genuinely can't understand the maths required for a first time buyer to spend half a bar on a small flat in a more central London location.

Those outside the London bubble must think it's mad. Which it appears to be, of course.
It's simple. Just different priorities. Some people want a central location, so they can enjoy 'real' London and be in the thick of it, while others are happy to spend less and move a bit further out. That's why we have different cities, different houses, different streets - literally no two people want exactly the same thing.

sleep envy

62,260 posts

248 months

Thursday 16th August 2012
quotequote all
housen said:
i dont undertand why people say hackney etc is like shoreditch a few years ago

shoreditch is BANG in the middle of london ...the area is a hub to commuters and finance

all this hackney bow e25 yit is quite far out and on the way to no where

it will never be like shoreditch was on its rise

plus it aint cheap anyway
it'll also go massively up in value again by 2015 thanks to Derwent London's White Collar Factory

BrabusMog

20,075 posts

185 months

Thursday 16th August 2012
quotequote all
Living in London is a bit like buying a Rolex. You know you aren't going to lose any money when you need to sell and, in most cases, are likely to make a profit if you've been holding on to it for a while.