Invest in London or Elsewhere...

lynzpower

Im in leafy bow

Was looking about and I must say theres very little ( read, nothing) in this area in budget without looking at LA

master_ian

Yeah, Bow is nice but over the budget...will hopefully be getting my mortgage in principle in a couple of weeks, just need to get a copy of my credit file first. Then the fun starts. Mmm.

Bargain_Rzl

lynzpower wrote:

Ian where is "thames gateway"
I wonder if its the same as woolwich/ thamesmead.
If it is then normal properties are plentiful & very cheap. However, this is reflected in the area itself. You need to go. Personally, and no offence to anyone who lives there, but I wouldnt live in woolwich if YOU paid me let alone the other way around.

I would - depending on which part. In fact I nearly bought a flat there 4 years ago. It's quite handy for transport (see comments below) and feels "open" (cos it's on the river). Wouldn't live in Thamesmead though, in a million years!

Transports rubbish as well IMHO

Not true really - Woolwich Arsenal has twice the number of trains that most of SE London get, there's a direct bus into Central London albeit one that takes a long time (the 53) and the DLR extension will open it up the the City and Docklands. Thamesmead, on the other hand, is one of the worst locations for public transport within the M25.

Ive been to greenwich peninsula too ( for shopping theres a B&Q there adn had a drive round, I dont think much of it TBH, bit soulless. Im not sure who lives there theres shed loads of new builds but the whole development (s) feel pretty deserted.

I certainly agree with this. Feels like a wasteland - admittedly one with lots of lovely overpriced new flats built on it, but nonetheless a wasteland... However at least it's on the tube (North Greenwich).

lynzpower

Not true really - Woolwich Arsenal has twice the number of trains that most of SE London get, there's a direct bus into Central London albeit one that takes a long time (the 53) and the DLR extension will open it up the the City and Docklands. Thamesmead, on the other hand, is one of the worst locations for public transport within the M25.

Will the dlr extension to woolwich mean a change at poplar? or canning town?

I forgot about this TBH when we went the other day, we took the train from greenwich station changed off the DLR.

I dont know why but everytime I go down that way its always pouring with rain! something a little bit on the bleak side about when Ive been that way I have to say. Although we LOVED the foot tunnel - well cool .

On coming back we went to go via beckton, so we walked the tunnel & came out kind of by George V, again, felt pretty shifty with those ever-present "hoodies" around blatantly pushing drugs by the station.

I wouldnt like to be round there at night i have to say.

I guess the OPs main concern is getting a property cheap, where the rental return is relitavely high and/ or guaranteed.

with this in mind its either ( id suggest) a toss up between
a) a cheap property for HB tenants where location premium isnt as important- eg lots of the families I worked with didnt overly care about the location as long as there are bus routes and shopping facilities fairly close that would do them - gardens are appreciated though for young families
b) a property that will attract professionals, with the requisite close to tube station, security, nice spec, and premum paid for close location to coffee shops/ bars etc

Personally I think you are more likely to get voids in type B. Any BTL investor will know they are up against a real glut of property type B in london at stacked up prices (after all it has to cover a mortgage taken today, mortgages today more expensive than previously, plus house prices have gone up)

Whereas type a) you can get any old ex-la flat within reason and never have a void if your on top of your advertising/ cponnections with councils housing assoc's. dont rule out Ex-la on the basis of planned works, investigate it thoroughly.

type a) would also be happy with the property I posted up before.

Like any business, the most important thing is to work out who is your customer and plan accordingly.