Would you buy in the "up and coming" area

hannhol

Lizling wrote: »

There speaks a poster completely unfamiliar with London, where the average FTB is aged, what, 36 is it now? I'll feel free to dismiss the rest of the post as uninformed ranting now.

I'm 33, and I've only been able to do it by living in my family home for over 18 months to save the deposit

demontfort

Lizling wrote: »

There speaks a poster completely unfamiliar with London, where the average FTB is aged, what, 36 is it now? I'll feel free to dismiss the rest of the post as uninformed ranting now.

Uninformed rant, Mrs Ling? I'll take that as a complement from somebody like yourself who is clearly another metropolitan "high achiever". :rotfl::rotfl::rotfl::rotfl:

Lilly_L

Thanks for letting me know lol it doesnt make a huge difference that by the time its built there doubt I'd be able to afford it anyway whether its 2017 or 2018

think for investment correct me if im wrong, you have to get in there before its all leafy middle class and well established. once its all built and running its probs not affordable anymore lol

hazyjo

Lilly_L wrote: »

and yes I understand overground link is not too bad, but when u canhave lines taking u directly to all the main stations in Central London Overground seems a bit weak thats all. Im not saying its not good just to say by comparison. its the same that I acknowledge the fat that Canning Town is a sh*t hole no doubt lol but it is true that the transport link is better than the SE route. these 2 dont necessarily contradict.

Take a look at Highams Park. You can get to the Central line (Woodford or South Woodford) with a <£5 taxi or a bus. The mainline station goes straight to Liverpool Street, or you can go 2 stops on the overhead to Walthamstow, straight onto the Victoria Line (to Kings X, Oxford St, etc). Pretty flexible.

My BF was in Leytonstone the other night and seemed very surprised and impressed on how it was changing, btw. Certainly better than it used to be!

Jx

Lilly_L

yeah i really am not saying its not good one of my best mates lives there and she often tells me how much she loves Leytonstone. all im saying is what promoted me thinking to buy near Canning town and Royal Victoria is the cross rail and vast investment both by the local council and the Chinese. Personally on the outside I'd prefer Leytonstone to Canning Town anyday as it has better shops and more character. I'm just purely considering as an investor that which location can give me the better rental yield and capital growth.

Central line is fantastic when u need to get to all the best places in London defo wouldnt argue with that.

Lizling

demontfort wrote:

Uninformed rant, Mrs Ling? I'll take that as a complement from somebody like yourself who is clearly another metropolitan "high achiever".

If you're going to claim that the typical London buyer is young, you'll need to provide evidence before I'll take you seriously, not baseless ad hominem attacks (if being called a 'metropolitan high achiever' can be considered an attack... I've certainly been called worse!)

cwcw

kwmlondon wrote: »

Okay...

On Saturday I went to see Siouxie Sioux and The Banshees. On Tuesday I went to a public talk in the St. Barts Victorian Pathology Museum. Wednesday I went to a nightclub in Camden and on Thursday I saw Iggy Pop. Last night I went to see Stewart Lee doing some "in-progress" work in Soho. I cycle through Covent Garden every day, I run along the Thames past the London Eye, Westminster, St. Paul's and next week I'm going to go and see the Pompeii exhibition in the British Museum.

In London I meet wonderful people from all over the world, I find it friendly and the people are great fun.

It's not cold and unfriendly, it's just that when you're getting to where you're going you get your head down and ignore the world. I often talk to people in bars and shops and nightclubs. When I go out I often see people I know.

BUT....

When I want to I can slip quietly into the crowd and be one of millions.

I love this place.

There's so much going on, I'll never even scratch the surface.

And the parks!

Look down when you fly over and you'll see the hundreds of parks and green spaces.

I know, it's hellish in so many ways. I'm not stupid or blind to its faults, but this city makes me smile every time I cycle/ride through it. I love Paris, New York, San Francisco - they're all great. I grew up in the countryside, spent a few years living in Manchester and it's all good.

BUT

They'll take me out of this city feet first.

There are plenty of parks where I live, plus a load of unspoiled countryside too.

As for all of the cultural stuff, yes some of that may be unique to London, but just because you don't live in London does not mean you're not free to visit frequently. Most people, even Londoners and certainly those scraping together house deposits for quarter of a million pound shoeboxes, don't go out to museums/theatres/nightclubs/talks every single night of the week. On the occasions they do go, a bit of extra travel time could be a small price to pay for the several hundred thousand pounds saved on accommodation. That's just my humble and "provincial" opinion though.

kwmlondon

cwcw wrote: »

There are plenty of parks where I live, plus a load of unspoiled countryside too.

As for all of the cultural stuff, yes some of that may be unique to London, but just because you don't live in London does not mean you're not free to visit frequently. Most people, even Londoners and certainly those scraping together house deposits for quarter of a million pound shoeboxes, don't go out to museums/theatres/nightclubs/talks every single night of the week. On the occasions they do go, a bit of extra travel time could be a small price to pay for the several hundred thousand pounds saved on accommodation. That's just my humble and "provincial" opinion though.

No, I'm not knocking the "provincial" life at all. I was asked to say why I love London so much and it's because of the things I have immediate access to, and actually take advantage of.

You don't have to live in London to access culture, parks, rivers etc. I know.

BUT

Watching the sun set over the Thames from the bar in the Royal Festival Hall? Seeing the skyline change month by month over The City? Cycling along streets I used to buy in Monopoly when I was a kid?

I love this stuff!

Also, I like the diversity of people. My friends come from all over the world. I'm learning Spanish in the evenings (learning Mandarin was too hard).

The other thing that I really enjoy is that I don't have to own and drive a car to get everywhere. I can cycle or get a bus or train or tube. Some people love their drive into work (I admit, the treks back from the supermarket would be easier with a car) but I love not having to worry about parking, servicing, insurance, petrol etc. It suits my life to hire a car now and again, or use Zipcar if I need to do an especially big shop.

If you look at what I'm saying it's not that I have any problem with other places - I know how great Manchester is, I used to live there. I grew up in the countryside. I've lived small town life. It's great to visit Brighton, I adore the city. But I like coming home to London!

This city totally suits me and how I live my life and my priorities and loves and passions. You can slate it all you like, I'll probably agree with most of the criticisms, but even with all its faults I love, love, love this town!

Bella_b

Some parts of East London have really changed in the last 10 years! I have a good mate from London who I first met 9 years ago. He lived on Laburnam st between Haggerston and Dalston. I went to his place once and he was embarrassed to take me there because he hated it. It's true the location wasn't very nice at all. It was dirty, rough, no tube, only buses but was in walkable distance to Liverpool st. A few years ago many buildings in his road were knocked down and now there are new developments all around there as well as 2 overground stations close by, so the area has really improved transport connections, very easy to get around there. Good for people who can't afford areas like Islington. Hoxton is another nearby example. My mate now lives in Stoke Newington which is known by some to have a "villagey" feel and has a mix of young people who like organic produce, but also has people who have grown up in Hackney all their life. It is still a bit rough around the edges but the housing stock is really nice. Downside is that it is north east London and has no tube but frequent buses on many routes. You can get to islington in 20 mins for Angel, finsbury park 20 mins, near to seven sisters also.
I see people with kids when I visit so it must be seen as a family friendly area.

The thing with London is that almost everywhere you go you are near to nice areas and not so nice areas. It could come down to particular streets. You could be looking in one nice area and the next street along could be deemed as not so nice.

South London areas such as Forest Hill and surrounds might still be more affordable & seem to be areas young people are bringing up families.

I think you should look into all the possible factors. How far will you need to commute? Are there any indications that the price may increase in the next few years? Are transport links getting an upgrade?

Perhaps consider shared ownership? My sister was able to buy a share of flat in the area near where she works which is central and she wouldn't have been able to otherwise! It might be something to look into, often in some new developments they gave to include schemes like this or more 'affordable' housing. You can later buy more shares if and when you afford if you want. My sister lived in Bethnal green beforehand which isn't too bad.

Lilly_L

I agree that you get so much value for money living outside London. used to live near Chester/Manchester afew years ago, you get a beautiful town house with a massive garden for like £150k which is like a LA studio in London in a dump.

However I was 25 at the time and I felt like a pensioner already and I cannot see any future or job prospect. Dont ask me why I cannot put my fingers on it but I was bored and aimless. Im not saying by moving to London I all of a sudden found direction of life(that would be some serious !!!!!!!!) but i was a lot happier in my now £600 OK room than my £500 one bed luxurious apartment back there. Its the city hard too explain.