Abbey Wood a hot spot???

cattie

Can Abbey Wood really be a hot spot as mentioned in the Evening Standard today:question: Surely the article writer has gotten Abbey Wood mixed up with somewhere else?

Being so close to Thamesmead I can hardly see it being a place folk are clamouring to buy a property, especially as Thamesmead seems to be basically one big housing estate, be it a mix of council & privately owned places. I've only ever been through Abbey Wood via train & road, but didn't get a very good impression of it. Though I daresay like most places it no doubt has a few 'good' roads & others to be avoided if at all possible.

It hardly has the best transport links in the world either to make it the next best place to buy in. Or am I missing something really valid?

Browntoa

its got nicer property heading towards plumstead and in the area along from the old Abbey

bouicca21

It's being bigged up because of Crossrail. And by London standards it's still cheap.

Running_Horse

Where else in London could you finds. Four bedroom house for £175,000?

http://www.rightmove.co.uk/property-for-sale/property-43309180.html

Kynthia

Isn't that the point of identifying a hot spot? It's somewhere that most people are still avoiding and can't believe will be somewhere happening, but in 3 years will have improved vastly and everyone will have wished they'd known at the start.


North and West Thamesmead aren't bad at all, with reasonable prices and many flats with river views. Abbey Wood isn't great, but with a fancy new crossrail station being built as we speak the prices should rise significantly. Also it's down the road from Woolwich which has had lots of money and investment put into it, with the fancy Royal Arsenal development, the DLR extension and the Thames Clipper stop. So this affect should spread to Plumstead and beyond. I think Abbey Wood will see greater than average price increases in the next few years.

vivster

We're in Shooters Hill, almost a mile south of Woolwich Arsenal. It does seem to be picking up here, but not sure we're in hot spot territory yet.

Having said that, we're in a biggish late Victorian 3-bed terrace with a generous garden. A few houses on the street have been converted into two flats. A developer is doing up a ground floor flat a few doors up. It's just gone on the market for 10% more than we bought our entire house for less than two years ago. I'll be amazed if they get that for it, but it will be an interesting test of the local market.

I find Thamesmead a bit depressing - a housing estate with a high-security prison - but the Morrison's is great!

theGrinch

with 52-weeks to fill, the standard needs to big up the property !!!!!! hotspot each week. last week it was somewhere else and next week another place. can they all be "hotspots"? I think they are more advertorials.

cattie

Running_Horse wrote: »

Where else in London could you finds. Four bedroom house for £175,000?

http://www.rightmove.co.uk/property-for-sale/property-43309180.html

Ex council concrete prison, that's the reason why it's so cheap!

cattie

vivster wrote: »

We're in Shooters Hill, almost a mile south of Woolwich Arsenal. It does seem to be picking up here, but not sure we're in hot spot territory yet.

Shooters Hill is really quite nice to my mind, lots of greenery & some lovely period properties. Good links to the transport system such as dlr, & masses of bus routes at Woolwich, so I can imagine it being somewhere that will attract people priced out of places such as Blackheath.

davsidipp

abbey wood is dire,hot spot made me laugh.i can never see it rising in value there,transport links are bad too,and don't get me started on thamesmead….

Woolwich_Kim

davsidipp wrote: »

abbey wood is dire,hot spot made me laugh.i can never see it rising in value there,transport links are bad too,and don't get me started on thamesmead….

But with more people desperate to get onto the property ladder, isn't this possible?

I don't think I've ever been around abbey wood, plumstead or thamesmead (though I've been told how horrid it is) but in the area I live in (peckham) I've seen it go downhills terribly. Almost every branded shop has been replaced with a pound shop or a fried chicken take away. However, I know there are plans to regenerate, the bakerloo underground line will extend to peckham rye. This will take years and possibly more than a decade but I can imagine when it does happen, more starbucks or trendy places will take over the high street again, driving house price and demands up.