A property to buy for investment... Where in London?

Ruda

Gazelleboy wrote: »

At the moment Hackney's pretty much exhausted - wise investors are moving South East, to Peckham, Deptford, Brockley, New Cross, Lewisham. You could get a nice garden flat on the ground floor of a Victorian build for quite a reasonable price, especially if you buy at auction. There will be a record number of repos over the next 2-3 months. PM me for a list of auction sites.

sounds great.... I PMed u and waiting the links with thanx

Ruda

sandyrose1 wrote: »

Definitely Peckham Rye (NOT Queens Road Peckham), ten mins to Victoria/ Farringdon/ St Pancras and with the new Cross rail and east London line in 2012 lots of City workers are starting to move into the area and new cool pubs and cafes are opening all the time.

I've just put my 2-bed up for sale due to having to re-locate with work, otherwise we definitely wouldn't consider selling. We had a couple of Estate agents look at it from a rental perspective, it would rent for £1200 per month. Perhaps you'd like to take a look

Thanx...
Are you considering selling it? and for how much?
Where can I find more details about it?

Ruda

greenmoneysaver wrote: »

You need to give u an idea of what you call cheap!

OH's brother is trying to do the same as you and is gutted for what £600k will buy him - he thought he'd get a house in Chiswick!

150K as a max of max :-)

greenmoneysaver_2

So more this:-

http://www.rightmove.co.uk/property-for-sale/property-18862917.html

Than this:-

http://www.rightmove.co.uk/property-for-sale/property-19405380.html

Ruda

Thanx Greenmoneysaver...

I had a look, also I found couple of attractive ones within budget but still not sure which area...

devotee

I think the OP wants a two bed flat. This? http://www.rightmove.co.uk/property-for-sale/property-31280578.html

brit1234

Ruda wrote: »

Hi everyone,

I'm here just after some advice really

I am considering buying a new 2 bed property in London (prefer under construction)... in an area which is not yet so expensive! I know it is impossible to get a CHEAP one but which parts of London shall I consider and how much am I talking about?

Better to buy in a few years time when property is cheaper. London house prices are one giant bubble only now starting to deflate.

Ruda wrote: »

I lived earlier in London but left it long time ago and am not aware now which areas are best for investment... ie I am going to put all my saving in this property - as I live outside London most of the year- planning to rent it later through an Estate Agency or sell it in long future at a good price....

Any advice or recommendations?

Thanks in advance all for your replies...

If you put all your savings into property at its peak price then you take the risk of getting servilely burnt. Far better you spread your assets through cash, shares, pension and precious metals.

Shares are a very good buy now. Silver also could be good.

Remember it is better to buy low and sell high.

greenmoneysaver_2

In terms of area it looks like Thamesmead, Beckton and Walthamstow/Chingford are coming up.

Pluses and minuses for all. I know Walthamstow/Chingford and would gor for Walthamstow.

Best to work out which gives the best % return really!

Wish OH's brother would listen to this advice. . .

GDB2222

What about this one? http://www.rightmove.co.uk/property-for-sale/property-29344219.html

greenmoneysaver_2

devotee wrote: »

Bless him, I can just imagine him walking into Foxtons and being told "oh we have a nice one bed flat that in right on your budget":rotfl::rotfl::rotfl:

"And we guarantee to find a tenant, for 20% management fees!