where to invest?

magali

My boyfriend and I are starting looking for properties, we are FTB and would like to buy where prices are more likely to rises.
In some news papers they recommend east London, Stratford, Forest Gate...because of the olympiques games.
In another hand we like the south -east near Crystal Palace.
We can afford a maximum of £150K.
Any recommendations? :rolleyes:

meanmachine_2

I recommend a time machine.

FTBers don't "invest" they nest.

And that rhymes.

Stratford was massively overvalued before the Olympics and is even more so now.

If your budget is 150K I suggest you look outside of London. Seriously.

sinizterguy

Im not an expert by any means, but I think most of the price rise due to the Olympics comings to stratford has probably already happened.

lynzpower

Stratford, and all round the olympic village area has been ASTRONOMICAL. I know, I live here. We are looking to move around this area again to a smaller flat, and we havent found ANYTHING for less than 150k 1 bed, unless it needs MASSIVE work ie new roof, rip the interior out type of thing, which Im guessing you wont have a budget for.

Chrystal palace is much nicer in my opnion, nice bars, shops etc, and I dont know what the markets like down there to be honest, you might be luckier.

Ilford might not be too bad a bet, or barking, you might get something within budget there?

xycom1

You could try The Water Gardens in Surrey Quays (https://www.thewatergardens.co.uk).

2 bedroom apartment is a snip at £350K. Plus a mandatory parking space at an extra £17.5K. And that's one of the cheaper ones! I tried very hard not to laugh when I went to look and the lady told me the prices...

I live in Dulwich (not far from Crystal Palace) and looking at new builds round here, 2 bedroom apartments are around the £180K-200K level but there is no way I am going to buy in London - far too overpriced and who would want to live in this dump anyway (especially in a poorly designed apartment block, which most of them appear to be these days)!

mummytofour

Hehe dh works at surrey keys, he could buy one of those and save himself the 4.5 hrs a day travel to and from work! no idea tho how he would pay for it...

Doozergirl

I think that Crystal Palace will be a great place to live in the future. It already has lots going for it - well established restaurants and fabulous views over London, but it's main selling points - the park and National Sports Centre have seen better days.

I've read through the LDAs outline plans for the park and NSC and if something similar to the ideas currently on the table get passed, then I think it will be a much better place to live, especially with the improved transport links already approved. The arguments have been raging for years over the future what is a site of precious historical value and many (IMO, ridiculous) plans have been rejected. With genuine backing from the LDA now, I hope to see the park opened up at the borders and the built area that the NSC currently occupies reduced, sooner rather than later.

£150,000 will defiantely get you a one bed and, if you're lucky it will get you one on Anerley Park. If I were buying for me, then that's where I'd be looking - near to the Penge Stations which have shorter travelling times into london, disadvantaged area relief meaning Stamp Duty exemption up to £150,000 in the SE20 postcode, but lovely Victorian conversions directly overlooking Crystal Palace park.

Hope that's of some help to you. Lots of opinion and local knowledge over here!

magali

Thank you very much for all the details, it help a lot.
Good idea for the stamp duty exemption

lynzpower

xycom1 wrote:

You could try The Water Gardens in Surrey Quays (https://www.thewatergardens.co.uk).

2 bedroom apartment is a snip at £350K. Plus a mandatory parking space at an extra £17.5K. And that's one of the cheaper ones! I tried very hard not to laugh when I went to look and the lady told me the prices...

I live in Dulwich (not far from Crystal Palace) and looking at new builds round here, 2 bedroom apartments are around the £180K-200K level but there is no way I am going to buy in London - far too overpriced and who would want to live in this dump anyway (especially in a poorly designed apartment block, which most of them appear to be these days)!

I used to live ( rented) in Surray Quays, no offence to anyone who lives there but V overrated & overpriced for me. Id sooner live in Chrystal palace ANY day of the week.

deeplyconfused_2

u might want to look at Tottenham. Good links to the City and the West End and is still cheap as chips. Neighbouring Stoke Newington has gone through the roof - and it's transport links are far worse.

theGrinch

I would agree that you can find good period flats and houses in south tottenham. its about 20 mins into oxford circus by tube. At £150k, you might find a 2 bed flat.