Property in the midst of the Dalston Regeneration area

Sagar82

Hi all

We're keen to buy in the new Barratt Development in Dalston Square, London. There's a new tube being built there and a wide regeneration area around it. Still, 1 bedroom places are quite high, even on the FTBI scheme we're considering.

One flat is £292500, 1 bedroom, but it's the penthouse with 2 huge balconies - should we even consider this? ARGGGHHH! Advice on prices please!!!:mad:

It's Zone 2 in London so you'd think it'd recover well before the Olympic regeneratioin completes, but we'd need to sell before 5 years time really otherwise fees would spiral.

WHat would be a reasonable price? Any experts have a general idea?

SquatNow

Sagar82 wrote: »

Hi all

We're keen to buy in the new Barratt Development in Dalston Square, London. There's a new tube being built there and a wide regeneration area around it. Still, 1 bedroom places are quite high, even on the FTBI scheme we're considering.

One flat is £292500, 1 bedroom, but it's the penthouse with 2 huge balconies - should we even consider this? ARGGGHHH! Advice on prices please!!!:mad:

It's Zone 2 in London so you'd think it'd recover well before the Olympic regeneratioin completes, but we'd need to sell before 5 years time really otherwise fees would spiral.

WHat would be a reasonable price? Any experts have a general idea?

No. You shouldn't. Prices are falling. Buy now and remain crippled by debt for life.

ziknik

Are you buying it as a home or an investment?

If it is an investment: Go ahead. Jump in. Prices double every 7 years. It can be your pension. House price will never drop, they won’t let it happen.

If it is you home: Don’t jump in just yet. There’s a house price crash happening. Have a read through the House Prices Forum.

clobber_2

Have you read "How The Dead Live" by Will Self? Might put you off a bit.


£292k for a one bed flat in Dalston? Words fail me.

hethmar

Id hang on, wait to see them begging people to buy at big discounts -

neverdespairgirl

£292k for a flat in Dalston? Did I read that correctly? :rotfl::rotfl::rotfl::rotfl::rotfl:

2 bed flat in Dalston, £140k

http://www.rightmove.co.uk/viewdetails-16968010.rsp?pa_n=1&tr_t=buy

2 bed flat in Dalston, £175k

http://www.rightmove.co.uk/viewdetails-17299111.rsp?pa_n=2&tr_t=buy

also in the regeneration area, 2 bed for £185k

http://www.rightmove.co.uk/viewdetails-10343784.rsp?pa_n=2&tr_t=buy

PS - regeneration area means "shi!t-hole". You've been warned.

lynzpower

I agree. There is no way in hell Id pay that to live in Dalston.

They dont call it murder mile for nothing my mate used to work off Dalston lane and saw a number of shootings.

Theyve been regenerating Dalston for the 8 years Ive lived in London- havent really noticed a great deal of changes. . Have you walked around after dark, say 11pm-2am?

Theres bound to be someone telling you its OK there, and TBF I have had a freind live in Clapton and nothings ever happened to him in 2 years, butr the !!!! is falling out of new build, ( have you checked you can get a mortgage on it in any case, plenty of lenders I read are pulling out of NB markets altogether due to the losses they are facing) its arguably one of the worst areas in London, Barratt/woodrow et all are all facing the official reciever you must be mad to even consider paying book price.

barnaby-bear

lynzpower wrote: »

I agree. There is no way in hell Id pay that to live in Dalston.

They dont call it murder mile for nothing my mate used to work off Dalston lane and saw a number of shootings.

Theyve been regeerating Dalston for the 8 years Ive lived in London- havent really noticed a gr3eat deal of changes. . Have you walked around after dark, say 11pm-2am?

Theres bound to be someone telling you its OK there, and TBF I have had a freind live in Clapton and nothings ever happened to him in 2 years, butr the !!!! is falling out of new build, ( have you checked you caqn get a mortgage on it in any case, plenty of lenders I read are pulling out of NB markets altogether due to the losses they are facing) its arguably one of the worst areas in London, Barratt/woodrow et all are all facing the officuial reciever you must be mad to even consider paying book price.

It's a *seriously* rough area, it might be ok if the regeneration area is gated and guarded but I'd want an armed escort at 4pm on a winters evening to *get* to the gated area. It might be ok if you only want to go out at 9am on a Sunday though (it'll be quiet then maybe and the police will occassionally dare to venture there to clear up the carnage of the night before at that time).

The OP is certifiably insane.

lynzpower

Just to add to this: I popped off to work on the 2nd, to hear that my colleague was mugged in broad daylight on the 1st as he got out of a CAB outside his HOUSE nad they nicked everything, phone, wallet, suitcases, doorkeys :eek: Life imitating life I fear there

Please, just dont.

puddy

Just a quick question, why do you say you need to sell after 5 years as the fees will spiral? do you mean the mortgage payments? if so, why? wouldnt you get a fixed rate for a long time, how do you know what the rates will be then?

anyway, if stratford is anything to go by, i was working there from feb till may this year, its a right dump, and im trying to be polite

neverdespairgirl

jenner wrote: »

anyway, if stratford is anything to go by, i was working there from feb till may this year, its a right dump, and im trying to be polite

Dalston makes Stratford look like Kensington or Mayfair