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wiffmaster

Original Poster:

2,267 posts

78 months

[news] 
Wednesday 15th August 2012 quote quote all
Evening all,

Will be looking to buy a flat in London within the next six months or so. I currently live in Hertfordshire and commute into London fairly regularly, but don't really have any idea as to where is a good 'up and coming' area in which to buy?

Have looked at Shoreditch, which although full of hipsters, does have the advantage of a decent connection in the form of Old Street. But, can't help feeling you're paying for the 'trendy' atmosphere? What other areas would people suggest that are likely to be a good prospect long-term?

Will be looking for a two bed, two bath flat which needs to be within 5/10 minutes' walk of a well connected Underground station. Area and transport links are the key factors; space isn't as important (given that there will only be a couple of people in their 20s living there). Budget up to £500k, but less is always welcome.

Suggestions much appreciated.

smile


XJSJohn

13,782 posts

99 months

[news] 
Wednesday 15th August 2012 quote quote all
Bow, Isle des Chiens Isle of Dogs, or go west to Barons Court / West Ken? Both areas did me well in my london flat days.

Get reasonable properties within your budget (maybe a bit tight west), relatively central with good connections in and out of the city.

East will give you developments, west will give you house conversions, tend to get more characterful places in the west although doesnt mean to say that these don't exist in the east (Bow Quarter, Burrels Wharf etc)




mattdaniels

5,907 posts

162 months

[news] 
Wednesday 15th August 2012 quote quote all
Elephant and Castle.

furtive

3,117 posts

159 months

[news] 
Wednesday 15th August 2012 quote quote all
Why not get a house rather than a flat? Something like this:

http://www.rightmove.co.uk/property-for-sale/prope...

princeperch

4,725 posts

127 months

[news] 
Wednesday 15th August 2012 quote quote all
furtive said:
Why not get a house rather than a flat? Something like this:

http://www.rightmove.co.uk/property-for-sale/prope...
because they can probably get as nice a flat in a secure block for about 100k less than the house will cost.

that will pay for a lot of service charge and ground rent
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XJSJohn

13,782 posts

99 months

[news] 
Wednesday 15th August 2012 quote quote all
princeperch said:
furtive said:
Why not get a house rather than a flat? Something like this:

http://www.rightmove.co.uk/property-for-sale/prope...
because they can probably get as nice a flat in a secure block for about 100k less than the house will cost.

that will pay for a lot of service charge and ground rent
Also right next to "The Gun", won't be very quiet of a summer evening around there.


vixen1700

7,799 posts

150 months

[news] 
Wednesday 15th August 2012 quote quote all
Leytonstone.

Not too over-priced, good links to London (Central Line), on the up after the Olympics.

Choose in the decent areas around Bushwood and you'll live in a nice area and it'll go up quite a bit in a couple of years. smile

Stratford may be getting all the press, but it's a depressing place, always was and always will be.

Sorry, just re-read the OP, budget up to £500k, buy a house in Bushwood for that, some friends of our have just done that very thing.

http://www.rightmove.co.uk/property-for-sale/prope...

You could get a semi-detached house in Wanstead for your budget!





Edited by vixen1700 on Wednesday 15th August 10:06

furtive

3,117 posts

159 months

[news] 
Wednesday 15th August 2012 quote quote all
princeperch said:
because they can probably get as nice a flat in a secure block for about 100k less than the house will cost.

that will pay for a lot of service charge and ground rent
I hate flats!

RC1

2,533 posts

99 months

[news] 
Wednesday 15th August 2012 quote quote all
i bought a flat in listed building in bethnal green in 2001 and still have it since moving out. its well connected by bus and central line and close enough to the shoreditch fringe without being in the thick of it... bought for about 200 then and flats in the block go for about 350 now. expect a service charge of anywhere between 2-5k per annum.

i had fun in the 6 years i lived there and would not rule it out even though living in tower hamlets does not win much kudos in the postcode wars...

vixen1700

7,799 posts

150 months

[news] 
Wednesday 15th August 2012 quote quote all
I knew somebody who had a flat in Tower Hamlets, a gated flat in the old Bryant & May match building. Fantastic flat, can't imagine what he paid for it in the early 2000s. He was posh and quite rich, mind. hehe

furtive

3,117 posts

159 months

[news] 
Wednesday 15th August 2012 quote quote all
I wish I had managed to keep my house near Westferry, but the offer I got for it was just too good to turn down!

princeperch

4,725 posts

127 months

[news] 
Wednesday 15th August 2012 quote quote all
I live in Bow and quite like it. Close to shoreditch for a night out/cheap vietnamese on the kingsland road/curry on brick lane, close to victoria park etc.

The only kicker with the flats is the service charge, but just look at it as part of the purchase price which you can pay on an ongoing basis. Also if you then go onto rent it out, you can offset that against your tax bill (so in many ways you would either pay it to the government if you werent paying it to the man co).


chris7676

2,422 posts

100 months

[news] 
Wednesday 15th August 2012 quote quote all
vixen1700 said:
Leytonstone.

Not too over-priced, good links to London (Central Line), on the up after the Olympics.

Edited by vixen1700 on Wednesday 15th August 10:06
I'm genuilenly intrigued in which way it is on the up after the Olympics?

housen

654 posts

72 months

[news] 
Wednesday 15th August 2012 quote quote all
sadly

im in a similiar position

just sold my place in isle of dogs for a small profit even after just 1 yr

i want to buy central have a slightly larger budget

but nothing really nice is for sale and hasnt been for ages

mkt is very iliquid

500k gets you anything in e14 area but not the soul of london

good luck in your search sir !

Overgeared

40 posts

48 months

[news] 
Wednesday 15th August 2012 quote quote all
Greenwich is worth a look. £500k should get you a nice two-bed terraced house in the arguably more fashionable part (West Greenwich) with a small garden. Very friendly place to live.

There's no tube but the DLR is there and overland trains get you to London Bridge in just over 10 minutes, and Cannon Street in about 12 mins.

Edited by Overgeared on Wednesday 15th August 14:50

vixen1700

7,799 posts

150 months

[news] 
Wednesday 15th August 2012 quote quote all
chris7676 said:
I'm genuilenly intrigued in which way it is on the up after the Olympics?
I was there the other day and it genuinely looked tidier than before the Olympics, people seemed happier, and the prices have risen a fair bit over the last year especially smaller flat prices. Oh and a Costa Coffee has just opened there. hehe

I'm from Leytonstone, know it well and have seen it look absolutely rock-bottom over the last few years, but it does seem to be on the up, even some friends of ours have moved there after years of being away. Albeit to a nice road off of Bushwood.

Kinda missed the place the other day when I was there.

996c2

370 posts

45 months

[news] 
Wednesday 15th August 2012 quote quote all
wiffmaster said:
Evening all,

Will be looking to buy a flat in London within the next six months or so. I currently live in Hertfordshire and commute into London fairly regularly, but don't really have any idea as to where is a good 'up and coming' area in which to buy?

Have looked at Shoreditch, which although full of hipsters, does have the advantage of a decent connection in the form of Old Street. But, can't help feeling you're paying for the 'trendy' atmosphere? What other areas would people suggest that are likely to be a good prospect long-term?

Will be looking for a two bed, two bath flat which needs to be within 5/10 minutes' walk of a well connected Underground station. Area and transport links are the key factors; space isn't as important (given that there will only be a couple of people in their 20s living there). Budget up to £500k, but less is always welcome.

Suggestions much appreciated.

smile
500k will buy you a 2 bed flat in an established area even in London!

Bayswater and Paddington (W2) is central, well established and attracts international money (probably due to it being only 15mins from Heathrow on the express train). 500k will only get you a small 2bed flat though.

Islington Angel and Clapham are well established areas and must be worth a look for a young couple in their 20s.

For up and coming areas, I normally look for areas that are being regenerated. Current examples include Bermondsey, Elephant and Castle and Nine Elms.

Edited by 996c2 on Wednesday 15th August 14:57

okgo

22,357 posts

78 months

[news] 
Wednesday 15th August 2012 quote quote all
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...

Perhaps you'd like to qualify what you want?

Pimlico is fairly reasonable given its zone 1 location and good transport links...

princeperch

4,725 posts

127 months

[news] 
Wednesday 15th August 2012 quote quote all
okgo said:
Apparently the next place to be is Homerton!
never in a million years

okgo

22,357 posts

78 months

[news] 
Wednesday 15th August 2012 quote quote all
princeperch said:
never in a million years
Well, as far as I'm concerned its all a fking dump out East, but apparently its 'hip'
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