Stratford still a good buy for long term

lynzpower

OUtside of the 10 years builders guarantee major faults found. thats the only thing I can think of unless the market has literally bombed, which I dont think it has...

Does the flat overlook the extension to the channel tunnel rail link or other major "olympic type" *benefits*?

I dont get it either....

Tassotti

The flat (by the way beautiful penthouse) has views over the proposed site for the Olypmpic Venue, the site for the new International Railway, 2 mins walk from Stratford Station.

All seems like fantastic opportunity to me

WEIRD

According to the Estate Agents I was dealing with (can I name them Martin?) the owner was a "knowledgable investor with a massive portfolio and good business sense"

If her business sense was that great, why lose a significant amount of money on this sale??????

black-saturn

It may look over the Olympic area but from my memory of seeing it yesterday it also overlooks a very busy main road, a very busy train track, a bridge, several huge billboards of advertisements and a council estate. Maybe thats what puts people off?

lynzpower

black-saturn wrote:

It may look over the Olympic area but from my memory of seeing it yesterday it also overlooks a very busy main road, a very busy train track, a bridge, several huge billboards of advertisements and a council estate. Maybe thats what puts people off?

Doubt it, many many flats in london would achieve this price and still be in similar urban settings.

lynzpower

Tassotti wrote:

The flat (by the way beautiful penthouse) has views over the proposed site for the Olypmpic Venue, the site for the new International Railway, 2 mins walk from Stratford Station.

All seems like fantastic opportunity to me

WEIRD

According to the Estate Agents I was dealing with (can I name them Martin?) the owner was a "knowledgable investor with a massive portfolio and good business sense"

If her business sense was that great, why lose a significant amount of money on this sale??????

Maybe the "knowledgeable investor with good business sense" knew that property in stratford was wildly overpriced & got out while the going was good.

Did you say it was a 4 bed penthouse, TBH I cant see a great deal of demand for that size property TBH, and if there was demand, Id guess theyd go limehouse, wapping, Wharf any day rather than stratford.

Tassotti

"Got out while the going was good" ??

Lost 120 thousand pounds. If thats good going, we'll.........

What do you make of the new build that is situated bang on the A12? Been offered flats for 200K + Laughed.

Offered 160K for each flat (luxurty apartment) for the whole development.. Offer rejected

lynzpower

Do you mean the part of the A12 just past the Bow Flyover?

I saw some just before the holiday inn with a mass sign "sharebuy" on them. ( is it these you mean Tassotti? MAybe they are struggling to get shot, reapproach them lol)
Also the big barratt flats opposite the dulux paint place? They are apparently solidly built, and I remember an ex- colleague bought in there, they all sold pretty quickly ( 2-3 years ago)

There is just so much void round there at the mo. Im round bow quarter way, and theres stacks in the tredegar estate ( lovely I think) plenty of the fabrica development all empty with to let boards in ( look solidly built those and by victoria park, some have been vacant for almost 3 months)

INterestingly there is a development behind tescos at bromley by bow ( pretty grim, no real facilties apart from tescos) and they qwere chucked up and then a massive sign saying "all sold" now theres a massive sign saying " to let, plenty of flats available" type of thing.

Im personally of the opinion that round this way, there is not enough people who actively want to rent here for the amount of flats that are being built. But maybe you know different

stratford_2

Just some thoughts from me, having lived in the area for over 5 years:



Long term is a fairly good bet – Your Mortgage magazine recently produced some stats suggesting that Newham (with Stratford & Forest Gate in particular) would go up by 23% over the next four years – the highest in London. Obviously it’s in the industry’s interest to talk up prices though.


Around £235k is now the going rate for a Stratford ‘village’ 2 bed property – I own there myself and had the problems of being gazumped twice last summer, due to the massive demand from outside investors. There is no way I would BTL though at that price – you won’t even remotely cover your costs as rents have nowhere near caught up with the rocketing prices in the last few years. It’s a fair point that some people have made on this thread about the lack of ‘high end facilities’ to attract those people who are most likely to be able to afford high rental prices. I’m not under any illusions that it’s one of the smartest areas in London (having previously rented in both Fulham and Putney) but I’ve noticed a real surge of what meanmachine might describe as ‘young professionals’ moving in, in recent months and things are picking up.


In support of Stratford I have a great local pub serving fantastic food which went more upmarket late last year, a superb new high quality Indian restaurant orund the corner and one of the best places for Thai food that I’ve been to outside Thailand, a Sainsburys & Morrisons, the Theatre Royal with another cracking production that’s had rave reviews in the Nationals – all this within a few minutes walk from my house. And don't forget the public transport – central, jubilee, DLR, mainline, buses and trains direct to both London City and Stansted airports.



Black Saturn – I’ve noticed your overly negative views on the area in the past, but have chosen to ignore them. I can’t now because of your recent particularly offensive comments about the people who live there! I happen to be white, professional and originally come from outside London and I enjoy being around a wider mix of people and only being around 30mins to the west end. If Stratford is so bad, why doesn’t your partner move? Frankly, I don’t want intolerant people like you in my area!

meanmachine_2

stratford wrote:

Long term is a fairly good bet – Your Mortgage magazine recently produced some stats suggesting that Newham (with Stratford & Forest Gate in particular) would go up by 23% over the next four years – the highest in London. Obviously it’s in the industry’s interest to talk up prices though.

I can't believe there's a magazine dedicated to mortgages.

Although I'm sure there was a rush of dotcom mags around the tail end of the last millennium.

What next? Compass and protractor monthly?

Also, how can anyone predict any kind of rise so accurately? 23%? How and why? Why not 45.678%? Why not -21.333333333%?

It's all rubbish.

No one predicted 300% rises in 1995 because the market had just crashed.

And why would you have made such a prediction when it's clearly illogical?

BobProperty

meanmachine wrote:

I can't believe there's a magazine dedicated to mortgages. .....

Totally off topic but this is weekly http://www.carptalk-online.co.uk/
and so is this http://www.reedbusiness.co.uk/rb2_products/rb2_products_hairdressers_journal_intl.htm
:eek: