BTL locations in London?

lynzpower

No I know you didnt Feanor Certainly, its worth A look, there maybe a bargain around you just never know xx

poppy10_2

GHPC wrote: »

You've arrived at the Buy To Let party just when the place is full of empty beer cans, the chillout CD's on and there's just a snogging couple in the corner.

That's so funny :rotfl: :T

Melissa177

lynzpower wrote: »

I think you would really struggle in E&C

1) the EA where I was working went dual agency with another EA in the area - they managed to get sold a one bed council flat with no garden for 280, the condition it was in was very poor needed everything doing, I mean everything. I personally think that E&C is overpriced. Given that a lot of people wont live there. I certainly would not, would you?

2) the regneration programme is in absolute tatters over there, we were actually told to stop mentioning the regeneration in E&C when selling property there was a chance we could get done for misselling as the plans and funding all over the shop.

Lynz is (as is so often the case) correct. I don't think the second part of the project has had funding confirmed yet, and all the long term investors with an eye on a massive profit have snapped up a lot of flats.

I used to live there (well, near the Imperial War Museum), and actually quite like Elephant. I never had any trouble when I lived there. But prices have gone silly since the regeneration project has been on the cards.

Running_Horse

Erith, Thamesmead , and Abbey Wood are cheap, but for a reason.

Bargain_Rzl

Before saying anything else, I must make clear that the following comments are based on general local knowledge and NOT projections relating to the BTL market.

I would agree that E&C - especially the bits with an SE1 postcode - is already overpriced, even if it is still the cheapest area with a Zone 1 tube station. However, some of the areas just to the south of it in SE16 and SE17 are probably still a good bet. The Old Kent Road in particular is fantastic for bus routes into Central London, and Walworth Road is almost as good in this respect.

Much of the locale is pretty grotty and there are some truly horrible council estates around (like the delightful Heygate Estate at the E&C) but I am certain there must still be some pretty good bargains to be had.

Though Lynzpower wouldn't live there, there are plenty who would and do - and provided you take reasonable precautions about personal safety and security, the area is safer than you might think. I often change buses there at night (I live about 1.5 miles south of there) and can honestly say I feel far safer waiting there than most other parts of London, as there are always so many people around.

If you come to the conclusion that the area is of interest, I can highly recommend the local community website www.london-se1.co.uk (especially the discussion forums) which, although centred in SE1, has a broad base of knowledge about the whole of south-east Central London including Rotherhithe, Bermondsey and Walworth. You would be surprised how many people are really passionate about the Elephant and Castle and its surrounding area!

P.S. I also have local knowledge of the areas Running Horse mentioned - and (s)he's not wrong...