East London BTL Flat - Canary Wharf/Poplar area

lynzpower

balsingh.

Im always shocked at people who work in the city or CW and dont want to live in east london for the obvious convenience. If i worked in CW the two obvious places I would live is bow, where I actually live and think its great, or greenwich. Other places that lots of wharf workers live is canada water ( i used to live there too) while thoroughly soulless is probably the best option for those wanting to be close to CW as its one stop away and is lovely beng by the water & all. However, youd have to be loaded to buy therenow , but its pretty cheap to rent still. Some of my mates who work in the wharf live in Wandsworth, putney, barnes how more inconvenient can you get? Well no biggie cos once you are working past 8 ( which you would anyway) then cab home from work anyway IYSWIM.

Completely agree aout the idea store nmiah, went down there yesterday to dro some bits off at the charity shop, I found it a bit depressing down there yesterday TBH.

sparkle84

balsingh wrote:

So where is the nearest place tro CW that you & other CW worker are preapred to live/rent????

IMHO 50% of people - and by this I mean youngish single or couples - don't want to live anywhere near where they work - I myself fall into this category as I don't want to see my office building at the weekends!!!! - CW is flooded with flats a lot of them empty so the ones who do want to live near their office have load of options.

Example of where people live: On my desk 2 live in clapham, 1 Putney, 1 Battersea, 1 Brighton!!!!! The jubilee line is excellent so it is easy to get to CW from anywhere in London or from mainline stations like london bridge or Liverpool st.

Without sounding snobby as I am not, the majority of people working in CW are in the investment banks and they just wont touch poplar sorry but that fact has to be taken into consideration if you are thinking of do a BTL there.

lottie$_2

I work in CW, and I live in Brighton

eurows

I love it. The markets collapsing but there are still a few muppets who want to get into BTL. The area is flooded with BTL (voids are high) and you cannot get a mortgage low enough to cover the rent.

Why don't you get two.

mystic_trev

eurows wrote:

I love it. The markets collapsing but there are still a few muppets who want to get into BTL. The area is flooded with BTL (voids are high) and you cannot get a mortgage low enough to cover the rent.
Why don't you get two.

or three, four or five?

The only reasons for are investing in BTL now is the assumption that house prices will continue the upward trend.....

From todays Torygraph

"For all Gordon Brown's promises to bring to an end the traditional boom and bust of the economy, there is much evidence to suggest that markets need to crash now and then to remind investors of the risks associated with buying into them"

I'm afraid when the crash comes (as they always do) I will have no sympathyfor those who lose their BTL investments - and then find they lose their home on which the mortgage (for said investments) have been secured!

mystic_trev

Here's a good article from toadays Guardian

http://money.guardian.co.uk/property/buyingtolet/story/0,,1773501,00.html

nmiah786

lynzpower wrote:

balsingh.

Completely agree aout the idea store nmiah, went down there yesterday to dro some bits off at the charity shop, I found it a bit depressing down there yesterday TBH.

You found it depressing!!! Imagine how it was before the "regenaration"!!!

Once got egged by the local hoodlums when visiting a relative who lives in one of the blocks next to the market!!!:rotfl: That was 15 years ago though!!!:eek: Things have improved but not that much!:T

lynzpower

Nmiah, I never usually find it depressing down there though wondering if somethings happening. One of the strangest things about it down there is isnt it so much more depressing in winter.

Incidentally, developer watch, I heard my housing association has bought out the old firestation & turning it into flats ( but for shared ownership or TH register tenants)

sparkle84

lottie$ wrote:

I work in CW, and I live in Brighton

Yes I am the one on the desk who lives in brighton as well mad eh - I would hate to live around CW

lynzpower

I was thinking about this earlier actually. I couldnt bear to live that close to work, especially as its so corporate around there. Not many opportunities to have a chat to your local retailer over the price of papers, its all a bit, well, corporate. If you want a pint of milk, the north part of CW is simply, well go to waitrose and walk past your office as you do it.

Absolutely no chance I would live that close to work, youd never be able to seperate work from home.