To buy in SE London or NW London or Mitcham?

jayss

If it's to let out why are you looking at 2beds?

JohnDoe1

Dan-Dan wrote: »

Better let all the thousands of investors elsewhere in the UK know!

Not sure why the need for sarcasm! I was just answering a question and not saying that it was breaking news!

gordonbennet wrote: »

I know Mitcham quite well but wouldn't want to invest there.

Property gurus often say it's better to buy the smallest place you can afford in the best location, rather than the biggest in the worst. Because that's where the demand is likely to be.

Therefore, if it really is only an investment (rather than somewhere for you to live), do a bit more homework. Maybe a studio in a really nice area might be in your budget? Failing that, look at transport links (especially tube if you're intent on London) and find out where the best paid people (who rent the types of property in your price range) commute from.

Failing that, look at Network Rail arteries with quick access to London. Nicer parts of Surrey perhaps?

Thanks for the good advice (I think). I will start looking for one beds. I think at least one bed to open up more possibilities. I don't want it sitting empty.

jayss wrote: »

If it's to let out why are you looking at 2beds?

I just thought 2 beds is the sweet spot in terms of rental. But since even quarter decent ones so hard to find, maybe one beds are the way to go.

So what's the best area for a one bed rental within my budget?

Dan-Dan

Point is , at the level your looking to invest , it may very well be worth your while considering other areas of this green and pleasant land

thelawnet

JohnDoe1 wrote: »

Not sure why the need for sarcasm! I was just answering a question and not saying that it was breaking news!

But if you want rental then yields are potentially far better elsewhere. Some of these 'Benefits Street'-type houses in Birmingham are fetching double digit yields and are owned by wealthy people.

BitterAndTwisted

I'm not sure this part of the forum, or this forum at all, is the right place for investment advice.

AndyGuil

1 bed opens you up to the outer part of zone 3 now.

JohnDoe1

Dan-Dan wrote: »

Point is , at the level your looking to invest , it may very well be worth your while considering other areas of this green and pleasant land

thelawnet wrote: »

But if you want rental then yields are potentially far better elsewhere. Some of these 'Benefits Street'-type houses in Birmingham are fetching double digit yields and are owned by wealthy people.

True, but I'm not solely looking at yields. I'm trying to balance out capital growth and yields, with slightly more emphasis on the capital growth.

I don't think you will ever get the type of price rises of property in birmingham (or anywhere else in the uk) than you do in london.

Dan-Dan

I would suggest trendy 2 bed areas of Manchester and Liverpool would give you nice growth

bouicca21

Surely the savvy investor looks to buy before the crest of the wave, so probably too late for the best capital growth for London. The hot market in London will either disappear in a puff of smoke or will ripple outwards.

Also you need to factor in the prospects for rental and for cashing in the investment at some point in the future. The more desirable a place is to live in, the more desirable it will be to potential renters and the easier to sell when necessary. So all the factors about transport connections, shops etc are still important.

cattie

Definitely not Thamesmead! I don't know an awful lot about Mitcham, but none of what I've heard has been favourable.

How about an area such as New Eltham? Still a handful of relatively cheap properties available there within a stones throw from the station. There's not much there apart from the station, a library & a Co-op, but if it's to rent out the location of the station should be in it's favour.

http://www.rightmove.co.uk/new-homes-for-sale/property-41209609.html

http://www.rightmove.co.uk/property-for-sale/property-44994953.html