East London

tirednurse_2

I have a mortgage on a one bedroom flat in the East London/Essex area.
I am hoping to relocate to Colchester, Essex at some point.
The price of property where I live (Barking) appears to be increasing in leaps and bounds. I suspect this is due to the planned regeneration of Barking, the close proximity to Canary Wharf and City Airport and the 2012 Olympic games.
Should I sell now while the demand is there, or take a chance and wait a few years in the hope that property in East London will rise in value?

Alan_M_2

Hold on (reaches for a coin).....

Heads or Tails?

in_my_wellies

I rented a 4 bed semi in Barking years ago, the landlord gave me first refusal at £25,000 which was well within my budget. I relocated to the Midlands and recon my equivent equity is half what it would have been

lynzpower

hi there

Have you checked what prices are doing in barking - ie what they sold for?

Barking does seem to be to me a massive place and my feeling is that prices have still reamined fairly low, where else in london can you get a 3 bed house for 150k.

Personally Id be more worried about the potential rises in Colchester.

Doozergirl

Many people have been diving in and buying property in the hope it will continue rising in price until 2012. Why will houses suddenly be worth so much more during that two week period? And what happens after that? Are they not worth as much when the athletes leave?

I've bought in an area of London that appears to have risen by about 30% this year alone. There's massive hype surrounding the train station being better linked to the city in about 5 years time. The place still looks like a dump to me.

I'd get out while the going is good. If it will make you happy to move to Colchester, then go..and be happy!