London Purchase?

Generali

Nicki wrote: »

Really!!! I've lived in this area for the last 10 years and prices have rocketed up! Don't know anyone who has been stuck with negative equity, and prices go up by at least 20% pa which is better than the national average. Also I've never seen any crime or anti-social behaviour of the kind you describe, nor have I seen any crime statistics to suggest that this part of London is worse than anywhere else.

I would say though that period properties are very highly sought over in this area (there are lots of Victorian and Georgian properties around), and that these are the ones which tend to appreciate in value. If you are looking to protect your investment, I might be more inclined to buy a period flat conversion rather than a new build. Having said that I have seen the show houses in the Heart of Bow development and they are lovely.

Flats in places like Bow (inner City) were the worst hit the last time house prices fell. If prices fall again, I see no reason why it should be any different.

My (limited) experience of Bow and that part of the East End in general is that there is a lot of violent and petty crime. I only lived in East London for 6 months. However, I have had friends in Hackney since 1992. Link. Looks to me that crime is about 60% higher in Tower Hamlets than the national average. Does that count as 'crime ridden'? Hell hole is a bit strong I confess.

PS Looks like some kind of harness or restraint in the bed!

Doozergirl

Generali wrote: »

PS Looks like some kind of harness or restraint in the bed!

Oh. That's alright then.

:rotfl:

[Deleted User]

never ever ever buy a new build flat

SLOW GROWTH OF NEW BUILD FLAT PRICES 2000 - 2006Property typeAverage price Dec 2000Average price Dec 2006Price risePercentage growthSource: Land Registry Residential Property Price Data (This is Money June 2007)Old Flat£104,886£190,110£85,22481.25%New Flat£178,287£187,826£9,5395.3%All Flats£111,687£189,695£78,00869.8%All Property£109,558£207,573£98,01589.5%


I hope your going to give me £5000 for saving you £50000, wheres my commision. Come on pay up, ive sent you my sort code and account number i expect the funds in 4 days

PauliPauli

hi, this is location/details of complex ... http://www.lovell.co.uk/homes/index.asp?fuseaction=find.getsite&site_id=60 .... any opinions please

Nicki

Generali wrote: »

Flats in places like Bow (inner City) were the worst hit the last time house prices fell. If prices fall again, I see no reason why it should be any different.

My (limited) experience of Bow and that part of the East End in general is that there is a lot of violent and petty crime. I only lived in East London for 6 months. However, I have had friends in Hackney since 1992. Link. Looks to me that crime is about 60% higher in Tower Hamlets than the national average. Does that count as 'crime ridden'? Hell hole is a bit strong I confess.

That's interesting. Thanks for the link. All I would say is that Tower Hamlets is a borough with a wide distribution of kinds of housing, schools, etc. The area which OP was talking about is a nice part of Tower Hamlets with high price housing, good schools and less over crowding than other parts. This is close to the area we live in, and I can genuinely say I've never had any problems and the area is safe, clean and law abiding (definitely not a hell hole!). There are other parts of the borough where the housing is poor (badly maintained and over crowded tower blocks for example), unemployment is higher, and there are a high proportion of young people neither in school nor in work, and without wishing to perpetuate stereotypes I would imagine that crime is higher in those areas. The OP's complex of buildings has been built to house city workers, those who work in Canary Wharf and some subsidised key workers, and from a crime point of view I wouldn't see it being a major problem.

lynzpower

PauliPauli wrote: »

hi, this is location/details of complex ... http://www.lovell.co.uk/homes/index.asp?fuseaction=find.getsite&site_id=60 .... any opinions please

Honestly.

my opinion is DONT BUY IT.

Even before i saw this i said dont buy in heart of bow, and i mean it now!

300k for a flat in there is a rip off. It is possibly the hugest "development Ive ever seen. they have ben trying to flog those since 2005!! 2 years!! Imagine trying to sell in there? Id imagine the value of these would drop through the floor.

Great location tho, i was on fairfield. Close to market, night buses etc. You cant go wrong with the area.

buy something else. Bow quarter, period flats, theres some belting ex local up there too boredering on the conservation area.

I have seen far too many "luxe" NB set ups round that way, and they turn into not quite as lux later. The one im thinking of is the "spanish" style development up the top of parnell road, by victoria park. not quite as classy now is it ( drive up there, you cant miss it)

Generali

Nicki wrote: »

That's interesting. Thanks for the link. All I would say is that Tower Hamlets is a borough with a wide distribution of kinds of housing, schools, etc. The area which OP was talking about is a nice part of Tower Hamlets with high price housing, good schools and less over crowding than other parts. This is close to the area we live in, and I can genuinely say I've never had any problems and the area is safe, clean and law abiding (definitely not a hell hole!). There are other parts of the borough where the housing is poor (badly maintained and over crowded tower blocks for example), unemployment is higher, and there are a high proportion of young people neither in school nor in work, and without wishing to perpetuate stereotypes I would imagine that crime is higher in those areas. The OP's complex of buildings has been built to house city workers, those who work in Canary Wharf and some subsidised key workers, and from a crime point of view I wouldn't see it being a major problem.

Mrs Generali was mugged in Wapping for her phone and had her purse stolen on the bus in the 6 months I lived there so maybe my view is a little jaded. I take your point about there being a mix of people and incomes but I really don't think that even those nice leafy squares in Bow are that 'safe'.

I maintain that flats in the inner cities were hardest hit last fall and will be again if there's another. If you want to insure against price falls, buy a 2nd hand place in a nice area.

The hell hole bit was just a cheap crack.

lynzpower

Ps i reckon tower hamlets crime issues are pedominantly centred around whitechapel shadwell. stand still outside the Royal london for 5 mins, I gurantee you will see a crime committed. Gurantee.

Imelda

I currently live in Bow Quarter and love it. I originally came from a "leafy" SE London Suburb and I feel just as safe here.

Lynz- funny you should say that about Whitechapel- I witnessed a mugging there last night...

Service charge is about £1800 per annum including use of the gym.

I have also watched them throw up that development and had a nose round the show flats. There is no contest between them and BQ.

Generali

lynzpower wrote: »

Ps i reckon tower hamlets crime issues are pedominantly centred around whitechapel shadwell.

It's true. Trouble is, the blighters have learned to cross the road (or just get lucky) and come over The Highway to Wapping High Street where the plutocrats live.