What's Dulwich like...

[Sarah_W]

Okay, okay after getting a lot of slating for posting my silly DIY questions on here over the past 8 months, I can proudly say I've completed my first renovation project and it's just exchanged with a 38% profit margin over buying and all renovation/finance costs. I'm chuffed to bits and am keen to get my hands on another :-O

It's a bit more of a jump up, but I plan to renovate this one and live in it. I've always liked Dulwich but never lived there but am keen to take on a Victorian 2 up 2 down very close to Lorship Lane. I'll renovate it and when it's done, move in and sell my own house.

Living in Guildford I'm well aware of the subtle differences in Victorian semis which can vary from street to street and tp end ones always sell best in Charlottesville, although needing work, they fetch similar prices everywhere. So - anyone know Dulwich well enough to give me some pointers on areas? It seems the variety of roads 200 yards either side of Lordship Lane sell well in refurbished condition and can be obtained at prices that make it worthwhile.

Thanks in advnace for any help and apologies for 8 months of painful DIY questions while I've been on my steep learning curve!

[EmmaP]

Lordship Lane is East Dulwich. Dulwich village is very exclusive and very expensive. The area you speak of off Lordship Lane varies greatly in terms of property standards depending what end you look at. I looked at a few a bit further out from the main shopping area and gave up because they reminded me of student digs. I could and did get twice as much for my money in Forest Hill (only a mile or two away). Don't let me put you off though. It is well worth looking at.

If you can afford it then I would wholeheartedly recommend East Dulwich. Lordship Lane has some lovely shops and bars. Bare in mind that you are near to Peckham so it doesn't come without its associated crime. Having said that, that is true of most places in London and it is South East London and not West London. I would be very happy to live there if I could afford it.

Foxtons over-price properties a great deal. Winkworth and Haarts seem to be better priced. There are 6 or 8 estate agents on Lordship Lane so all are worth registering with. Some you will need to chase, Foxtons will send you loads of great ads daily. I dealt with Cherie and she is great. She won't waste your time showing you properties that aren't what you are looking for either.

Having just re-read your post then East Dulwich would be ideal for a renovation project as it is a well sort after area.

Enjoy the hunt!

Edited by EmmaP on Saturday 6th March 10:28

[Simpo Two]

Sarah_W said:

Okay, okay after getting a lot of slating for posting my silly DIY questions on here over the past 8 months

Actually I enjoyed them; good to see you with the confidence to have a go and learn by doing rather than 'getting a man in'. Bravo.



(well apart from the one where you tried to electrocute all the other residents)

[Sarah_W]

EmmaP said:

Lordship Lane is East Dulwich. Dulwich village is very exclusive and very expensive. The area you speak of off Lordship Lane varies greatly in terms of property standards depending what end you look at. I looked at a few a bit further out from the main shopping area and gave up because they reminded me of student digs. I could and did get twice as much for my money in Forest Hill (only a mile or two away). Don't let me put you off though. It is well worth looking at.

If you can afford it then I would wholeheartedly recommend East Dulwich. Lordship Lane has some lovely shops and bars. Bare in mind that you are near to Peckham so it doesn't come without its associated crime. Having said that, that is true of most places in London and it is South East London and not West London. I would be very happy to live there if I could afford it.

Foxtons over-price properties a great deal. Winkworth and Haarts seem to be better priced. There are 6 or 8 estate agents on Lordship Lane so all are worth registering with. Some you will need to chase, Foxtons will send you loads of great ads daily. I dealt with Cherie and she is great. She won't waste your time showing you properties that aren't what you are looking for either.

Having just re-read your post then East Dulwich would be ideal for a renovation project as it is a well sort after area.

Enjoy the hunt!

Edited by EmmaP on Saturday 6th March 10:28

Hi Emma,

Thansk for your post. Speaking to the agents, it seems that the area around Lordship Lane has come a long way in the past 5 years and to an outsider, it looks lovley now!

I did look at a couple of flats in Forest Lee and a house in Catford. I agree that for renovation and resale East Dulwich is probably normally the better bet, but there's so little available for sale that even properties requiring fairly major work internal rearrangement of walls are getting prices where there isn't that much of a margin. The places I've seen in Forest Lee and the house in Catham didn't seem to attract the same interest from buyers keen to do the work and hence appear to have more margin in them. Thanks for your post. I'll be spending a few weekends in teh area shortly to get a real feel for it!

Simpo_Two - cheers! My mates all thought I was mad buying a place to renovate in this market but there are a few that go through the auctions currently that have a good margin in them. The best deals though seem to be had through estate agents with proeprties that never properly hit the market. Backhanders or whatever, I don't know what's going on there.

[EmmaP]

Might be worth looking at Sydenham. I looked at a maisonette there that would have been amazing property to renovate. It hadn't been changed for forty years and had an amazing amount of potential. I think you'd get a good margin in Sydenham as prices are so steep in East Dulwich your margin would be restricted.

[Busamav]

Sarah_W said:

[ The best deals though seem to be had through estate agents with proeprties that never properly hit the market. Backhanders or whatever, I don't know what's going on there.

You answered your own question

[rlw]

EmmaP said:

Might be worth looking at Sydenham. I looked at a maisonette there that would have been amazing property to renovate. It hadn't been changed for forty years and had an amazing amount of potential. I think you'd get a good margin in Sydenham as prices are so steep in East Dulwich your margin would be restricted.

But, in the nicest possible way, who wants to live in Sydenham. It is close to Penge and Crystal Palace and Forest Hill, has lousy communications and is just not nice. As you say, there are some fabulous houses there though. I have fond memories of a party in a huge flat on Westwood Hill and waking up in the morning in a bed with my girlfriend and her best friend..............

[ln1234]

Also worth looking at some parts of Upper Norwood. Benefits from being in zone 3, and has some nice residential streets. As with most parts of London, it's next to a bit of a rough area (West Norwoord / Tulse Hill).

[bga]

I know a few people looking to buy in Dulwich at the moment. It's pretty nice area, though like anywhere in London is close to some crappy ones.

One thing worth considering is that there is not much coming on the market at the moment, and what is there is going very quickly for a pretty high price. Personally I think you'll have better opportunities to create some value in some of the surrounding areas.

[PistonReg]

bga said:

I know a few people looking to buy in Dulwich at the moment. It's pretty nice area, though like anywhere in London is close to some crappy ones.

One thing worth considering is that there is not much coming on the market at the moment, and what is there is going very quickly for a pretty high price. Personally I think you'll have better opportunities to create some value in some of the surrounding areas.

I've found this - that particularly popular areas are selling for a good premium due to lack of supply and you could end up buying into a temporary bubble and having trouble getting a decent profit when you sell. The Estate Agents I've spoken to think that prices in such areas would drop quickly if more came onto the market and with thelettings market so flooded with houses in areas that I know of, this could supply the increased sales in the coming months.

Regarding the earlier post, Penge and Crystal Palace have osme gorgeous old housing stock and I'd always thought both were pretty desirable, but this is just what I'd heard.

[BigBen]

rlw said:

EmmaP said:

Might be worth looking at Sydenham. I looked at a maisonette there that would have been amazing property to renovate. It hadn't been changed for forty years and had an amazing amount of potential. I think you'd get a good margin in Sydenham as prices are so steep in East Dulwich your margin would be restricted.

But, in the nicest possible way, who wants to live in Sydenham. It is close to Penge and Crystal Palace and Forest Hill, has lousy communications and is just not nice. As you say, there are some fabulous houses there though. I have fond memories of a party in a huge flat on Westwood Hill and waking up in the morning in a bed with my girlfriend and her best friend..............

My sis lives in Sydenham / Penge and it is quite nice, transport links to the city are good and are by overground train instead of the tube so a nicer commute. Only problem is Penge does sound a bit too much like minge.

Ben

[EmmaP]

Overground transport links from Sydenham and Penge are good. I think you'll be at London Bridge within 20 minutes.

Sydenham has some beautiful properties and roads.

[Morningside]

BigBen said:

rlw said:

EmmaP said:

Might be worth looking at Sydenham. I looked at a maisonette there that would have been amazing property to renovate. It hadn't been changed for forty years and had an amazing amount of potential. I think you'd get a good margin in Sydenham as prices are so steep in East Dulwich your margin would be restricted.

But, in the nicest possible way, who wants to live in Sydenham. It is close to Penge and Crystal Palace and Forest Hill, has lousy communications and is just not nice. As you say, there are some fabulous houses there though. I have fond memories of a party in a huge flat on Westwood Hill and waking up in the morning in a bed with my girlfriend and her best friend..............

My sis lives in Sydenham / Penge and it is quite nice, transport links to the city are good and are by overground train instead of the tube so a nicer commute. Only problem is Penge does sound a bit too much like minge.

Ben

A few years back I grant you but we were going to rent a place in Sydneham. Jesus what a place. The place we looked at was on the ground floor and looked more like a prison.

The landlady said 'dont worry we have ONLY been broken into three times this year' . Sounds great. So we stayed in Caterham.

And we thought the New Addington Estate was bad

[Baby Huey]

I've lived in South East London for the last 15 years, the only time my car has been broken into was in Forest Hill. Plus a friend got beaten up walking home from the station.

This may not prove anything, but I have a downer on the place.

Have a look at Blackheath and nearby parts of SE12/13 if you haven't already.

[rlw]

Move to Bromley - it worked for me