Good value areas in London

snooping_around

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Abatement

You'll go mad trying to identify "good value" areas in London - everyone you speak to will tell you about the latest "up and coming area", but everyone has a different opinion.

If I were you, I would focus on identifying a good value area for you based on what you need in terms of type of house, transport links, social aspects, where your friends/family live etc etc. Your budget of 500k for a 2 bed flat should give you an almost unlimited choice of areas in zone 3.

EmmaHerts

I know you want zone 3 but if I had your capital then I would be looking at Southwark.

BitterAndTwisted

For half a million quid I'd be looking for a freehold property not a flat.

A_Couple_In_Love

What makes you want a flat for that value?

snooping_around

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property.advert

At those levels, which I know are not high for London, I'd look to a house.

Why ? if you think ahead, then who is going to be able to pay you £750k or £1m for your flat and not afford a house themselves ?

This is is what is happening in some of Zone 1. Certain 2 bed flats I know well are stalled around £550/650k because the next step is a house and houses in the same area are £1.5m plus. The people who can afford a house don't want a flat and the people who have flats cannot afford the houses and are thus selling to buy houses in areas where £750k does buy a house. Thus there is a void between around £600 and £900k where people have top class flats but which do not grow in price.

In a tangential area, houses which were £300k are now £800k.

I'd buy a cheaper flat or get a house. At the very least, a half lower house with sole use of garden. At least you might have the chance to buy the top half later !

hazyjo

I'd consider Tufnell Park (zone 2).

For zone 4, try Wanstead. But bit far out from what you're saying. Actually not far on Central Line, but does just fall in 4.

Also, Blackheath (SE3) if looking south of river.

Jx

brizza

Southfields and Earlsfield would be worth a look, pleasant areas, good transport links, relatively solid investment due to proximity of Wimbledon and Clapham Junction on either side.

Tancred

snooping_around wrote: »

Good value areas in London do they even exist?

Im looking for a 2 bed flat, in a Victorian terrace conversion, budget is up to 550K but ideally I want to stay below the 500K threshold. Ideally located within zone 3.

I am interested in a particular flat but not sure if there is much upside - its already 7.7K per sq metre.

Any advice would be appreciated.

London offers poor value for money, unless you are willing to go out to suburbia and commute in. You could get a large detached house just out of London - not sure why you'd want to be in zone 3.

My advice would be to look at the eastern bits of the central line - great for commuting into the City.

newbian

http://www.kentonline.co.uk/kentonline/home/2013/march/22/oyster_for_dartford.aspx

This may not turn out to happen but reports are that TfL wants to take over the Southeastern rail line from Dartford into London and run it like the Overground. The current franchise rights end next year so TfL could come in from 2014. If this goes ahead it will be a massive boost for much of Greenwich borough which is on this line and is zone 2/3. For your budget and what you seem to be interested in that would be parts of Greenwich (Maze Hill, Westcombe Park) and Blackheath. Worth doing some research anyway.