Would you buy in the "up and coming" area

Lilly_L

Indeed £250k doesnt get u anywhere in Bow I know! Unless im willing to go for a one bed, I do love Bow so quick to central London and it gives you that ghetto chic London feel lol I viewed a flat very close to Bow Church DLR STN you know where the Boris bikes are. was wondering if I should make an offer but was snapped up the next day lol

Good luck and I hope you get to buy in Bow some time soon

NervousHomeowner

Personally, I wouldn't buy in an 'up and coming area'. I think it is a huge risk to put your faith in an area changing drastically especially when you are investing such huge sums of money.

I think it depends on how you would feel if the area doesn't end up improving. Are you only buying on the premise that it will get better or would you still be happy living in the area for the next 10 years if things don't change?

curedham

Canning Town has a lot of potentials. Yes it's a dump right now but the council is spending a lot of money in it and there are several decent quality new builds coming up. It has excellent transport link and will attract plenty who work in Canary Wharf.

IMO, if Canning Town is gentrified, it'll surpass Royal Docks area.

coral

agree with the other posters - would buy in Bow but you need to really be careful - it changes street to street! Currently renting on Bow Road right near the tube and I really like it here. £250k won't go far mind you. There still isn't loads here in terms of cafes bars etc but moved from Primrose Hill so it's a bit of an adjustment.

Canning Town on the other hand is a dump and I don't see that changing any time soon, good transport though. The docks are nicer but I find them a bit soul less especially after dark.

Absolutely concur with the suggestion of West Norwood/Crystal Palace - much more of a community and some great bars/restaurants/cafes/parks/sports facilities etc right there already to enjoy rather than always having to head into Central (which is still easy via the trains/Overground or via Brixton)

Also check out Brockley areas

Lilly_L

yes I know I have read online saying up and coming is always a big risk. but I only want to buy somewhere that is within Zone 2 bordering Zone 3. and must be within 5min walk to the tube station....that sort of ruled out all the West/South/North London areas as South have bad tube links...£250k really doesnt get very far in London

kwmlondon

Depends why it's up an coming. If it's up and coming because it's about to see a new transport link then absolutely, yes. I bought in Brockley two years ago, just as the overground opened and I've seen a 30% increase from what I paid and what I just got when I sold the place. However, I've lived around South-East London since 1996 and I'm reasonably confident about which areas I would live in which I'd not. Some of New Cross is lovely, some not so. Parts of Deptford are great, others best avoided. Get to know the area and make an informed decision.

Lilly_L

yeah Bow is no popular Im really struggling to even land a viewing, everytime a property comes on the market for 3 days you ring up the EA and they tell it sorry hun its been sold.....Very competitive!

and yes the Royal Docks are souless even Canary Wharf is I actually work in Canary Wharf I'd swap that with Central London anyday!

Yeah I think I ll look around places where there is tube and DLR. I do like Crystal Palace only thing that is stopping me is the lack of direct tube line to Central London.

Lilly_L

Yep reasons why i'm looking at Canning Town is the amount of money government is pouring in and its transport link + super convenient/cheap food shopping and the neighbourhood are actually quite nice

Lilly_L

thank you. I currently live in Canning Town so I know the area to some extent I guess. new stations is exactly why I see potentials in Canning Town a new road is being built to link the tube station to Custom House and the cross London Rail will have a stop there so 7/8min walk to the London Cross rail station that cannot be a bad thing.

abankerbutnotafatcat

If you must live within 5 mins of a zone 1-3 tube you're extremely restricted. What is it about the tube?

Personally, I hate the tube and avoid it like the plague. I bought in Clapham Junction where the train service is comparable with a tube service only without being underground. As another poster said, the London Overground routes have brought that convenience to a lot of inner south London.

The DLR isn't even a tube anyway (light railway), maybe think about frequency of service, length of journey and routes rather than the mechanics behind the journey unless you are a tube-spotter-geek? Only joking!! :-)