First time buyer - budget areas in London

Shortypie89

isisini wrote: »

I live in Walthamstow. It's pretty well connected to the city, and you could get a two bed period flat for under £250k. Although it's still pretty rough around the ages, bits of Walthamstow are nice, and it's getting nicer (since we moved there around a year ago, several dodgy pubs have re-opened as much nicer pubs, a local residents association & neighbourhood watch has been set up in our street, and a gardening club to maintain bits of communal land, we've had street parties and community events being organised, and our local area now has an award winning museum park and cafe). However it feels very like a place for young families or older FTBs, so it really depends what you want out of the place. I love it but I think a couple of years ago I would have missed being in London's trendy East London.

Thanks. I was worried Walthamstow might be a little 'older' and more family-focused than what I'm looking for right now - good to have it confirmed

m0t

Shortypie89 wrote: »

How long ago were you living there? Some of these are supposed to be 'up and coming' now - though it's never clear exactly what that means!

The cynic in me thinks that 'up and coming' is code for a dump that investors have bought cheaply in and are trying to push prices up for a decent return.

BitterAndTwisted

Or where people on limited budgets are buying in the vain hope that gentrification is just around the corner. Alas, for some areas in London this unlikely to happen any time soon. Like Canning Town or even Stratford (in my opinion). But then again, once upon a time Stoke Newington and Hackney weren't good areas and look at the prices now. It doesn't necessarily mean the areas are any better to live in now, they're just unaffordable to ordinary folks on averages salaries.

OP think carefully about Walthamstow: if it's attractive to young couples and families now you shouldn't have a problem selling up when you're ready to move on at a later date. Places that are only attractive to young singletons could remain so.

rob404uk

There are 2 bed Warner flats around Walthamstow marsh area that are great for your cycling needs. Loads of cycling links as by the river lea. You would get one for under 250 I would think. Bit of a trek from many youthful pubs though

ERICS_MUM

BitterAndTwisted wrote: »

Always, always, always prioritse neighbourhood over individual properies if you are planning on ever selling. The worst house on the best street is always a smarter buy than the best house on the worst street. That's why they make a TV series entitled "Location, Location, Location" rather than "Property, Property, Property".

I agree, especially in London where good, "getting better", bad and "getting worse" areas can lie just streets apart. To be honest I would be doing a lot of leg work around the areas that appear to have properties I could afford, to narrow down the best location before house-hunting in earnest.

Good luck - you've got your work cut out but be methodical and you'll find your new home eventually.

Angie_B

I've lived in Clapham, Brixton, Stockwell and Balham and have just completed a very similar FTB search/purchase to you.

As already suggested, you won't be able to afford a 2 bed in Clapham SW4 on £250k. You'll be lucky to even get a 1 bed.

Brixton is actually a great place to live, especially if you can buy on the Clapham side. I loved living there and would happily live there again. The high street just gets better and better - department store (Morleys), plenty of nice cafes, new TK Maxx, Brixton Village, decent leisure centre. Lots of buses, always a seat on the Victoria line and easy enough to change onto the Northern at Stockwell which is just one stop away.

I would avoid Stockwell if I were you, unless it is literally at Clapham North tube. There is nothing in Stockwell itself and you will find yourself spending your whole time going to Brixton and Clapham, even for the basics. Plus a SW9 postcode will increase your insurance premiums.

Have you considered Streatham? Slightly more affordable than some of the other areas (although not by much these days). You can definitely still get nice 2 beds for under stamp duty though. The high street between Streatham Hill and Streatham is getting better and better, lots of lovely bars and cafes, decent shops and the new Hub at Streatham (new leisure centre including pool and ice rink, big Tescos and new residential flats).

I'm afraid I don't know much about Camberwell/Peckham but the overground that runs through Peckham Rye etc into London Bridge is very regular and reliable and it is easy enough to walk across the bridge into the City from there.

southoftheriver

I know Peckham well and would say that parts of it are becoming gentrified (!!!!!!!en road area) and are therefore becoming more expensive. I wouldn't bother with Stockwell, its a bit of a no mans land between clapham and Brixton and still has enough dodgy areas to put me off (and I was born and bred here!). I'd be really surprised if you could afford much around Clapham.

I find Camberwell a bit boring but it has increasingly good restaurants and good transport links.

Have you considered looking at where the new crossrail is being developed?

I'm probably moving out of London in the next year or so as I can't afford to buy even a studio flat, but if you are savvy you can find up and coming areas.

Hmm ok mse doesn't like that particular road! Try looking up b-e-l-l-e-n-d-e-n road and seeing how much things cost around there.


!!!!!!!. Haha I just got it. Oh dear i'll get my coat.

Lizling

I'd definitely go for Brixton, from that list. Loads to do there. It's got the Brixton Academy as well as all the things on Angie's post. I'd much rather live there than Clapham even ignoring the price difference.

botchjob

I know all of the places you mention and although I'm now a very happy resident of Walthamstow, I think I'd agree that it probably has more of a pull for young families than it does for out-and-about 20 somethings. Not sure what the prices are like now but East Dulwich has a lot going for it, and more value is to be had a shortish walk away in Peckham Rye and Nunhead.

demontfort

Just accept your lot for 250k or even more in London if you want some half decent space you have a choice of living in:

• An inner city dump (all the areas you mentioned) kidding yourself that your area is up and coming (whatever that means)

• So far out in the suburbs that you might as well move to the country

I've considered most of London but areas which are slightly better value are Shooters Hill, Charlton, Leyton, Leytonstone and Ilford


Ok these area aren't cool so you won't find many freelance hipsters poncing around organic art galleries in these areas but if you want to pay £100k premium for that then be my guest. :rotfl::rotfl::rotfl::rotfl: