Buy To Let Investment - South East London

JKell

Hi
I'm in the market looking to invest in a buy2let apartment - working on a budget of 220,000. The primary intention (obviously !) is to get steady rental income and to let it to professionals.

Can I get some opinion on the following areas?
1. Canterbury
2. Eltham
3. Sidcup

With my budget, I dont think I can afford a decent place in Bromley or in a lot of places in Kent. Are there any other places I could consider?

thanks
JK

G_M

Canterbury is now in SE London...?? :eek:

Can't help with locations (other than to check the rental market in any area you choose as well as property prices), plus:

* New landlords: advice, information & links

* Letting agents: how should a landlord select or sack?

chazsucks

Eltham you're looking at a 1 or 2 bed flat.

Rental values around 900 for 1 bed 1k for 2 bed per month

Not sure about the others

But if you managed to get a flat for say 200k and rented it for 1k per month thats a yield of 6%

Don't forget you need to also work out other costs - e.g. the ground rent and maintenance for the flat

I think the yields are often better out of London.

Have a look at property tribes, they are super helpful

JKell

Thanks for the links and advise guys.
Will keep looking....

benjus

Sidcup:

Mostly lots of dull 1930s suburbia with a few older buildings. Lots of commuters, and prices are quite reasonable for Greater London. Has reasonable facilities (high street, Morrison's and Waitrose supermarkets, leisure centre, sports club). Transport links to Charing Cross for central London, Cannon Street for the City, and Lewisham to get to the Docklands area are pretty good. It's in Travelcard Zone 5.

Probably the nicest area to live in Sidcup is The Hollies (well I would say that as I live there) - a conversion of an Edwardian orphanage complex: http://www.drewery.co.uk/the-hollies-sidcups-sought-after-development-sp-32.htm

I agree with the comment about rental yields though - rents in London have not risen at the same pace as house prices.