Moving to Dagenham

Andrew_Ryan_89

Hi guys,

My fianc! and I have been house searching for the best part of a year. We recently had an offer accepted on a two bedroom, mid-terraced house 5 minutes walk from Dagenham East station. The offer accepted was £282,000.

The house is in very good condition, massive garden but as the AIP and mortgage applications came through, I started to have my doubts.

The area is known as the UK crime hot spot and I have noticed that other houses in that area, a lot 3 bedrooms, have gone for £30k cheaper. Furthermore, looking at the sale history, over a 5 or so year period, house prices haven't gone up much and a couple have lost a little of their value.

My main concern is that I'm paying significantly more than the property is worth and that it won't increase in value.

As a first time buyer, can someone give some tips and advice in regards to the above?

Many thanks

rob404uk

I do think prices have risen recently again in London so perhaps you are paying about the right money. I have no idea if what you are paying is correct but everyone gets nervous buying a house, especially if it is their live in home. However, unless you want to live there I would not buy, getting on the housing ladder for the sake of it is a mistake.

t0rt0ise

When I read the title "moving to dagenham", my immediate response was "oh I'm so sorry".

densol_2

I wouldn't buy in Dagenham. Even in the slightly " better " part ( term used very loosely) it's still a very undesirable place. Just one stop along is Dagenham Heathway and it's truly horrific there. Dagenham is one of the largest council estates in the UK, although in Dagenham East there are private areas - it's still very close.

Go visit Dagenham Heathway and see the dumping ground it's become. I'm retired now but I used to defend and then prosecute crime in this area. The demographics have changed significantly. It was always horrible but now it's truly vile. Sorry

Cheeky_Monkey

Did you do your research on the area before or after you put your offer in?

jonathanrolande

Sounds like you need to think hard about this. Buy in haste, repent at leisure!

MARTYM8`

The prices in London are now of course insane – if anyone told you 15 years ago you would need to spend £300,000 for a two bed house in Dagenham you would probably have suggested they had added one zero too many.

Problem is if you want to buy a house for less than £300k in the Greater London area your options are now very limited – Dagenham is one of the very few options left north of the river.

Yes – it has its problems but there really aren’t that many parts of London where you are more than half a mile away from a dodgy estate or gang problems. You are near the station – which is a plus – and there are good and bad people everywhere. You may have nice neighbours - and horrible ones in a posher area.

I presume you have looked at other relatively affordable areas nearby– like Romford/Rush Green, Hornchurch or Chadwell Heath or Barkingside?

In the end if it doesn’t feel right – don’t do it. Far better to get a flat in an area you are comfortable with than a house in a place you really don’t want to be.

Andrew_Ryan_89

I did, realised it was not the best area but I grew up in Wembley so wasn't too fussed.

Never considered Dagenham previously, but because it's so close to the station, any being in its own Road (not on a high street or opposite shops) I thought it would be worth moving to Dagenham as if I didn't like it, could always sell any move closer to home with the assumption the price will rise significantly I the next two years.

We are both currently living in Harrow but can't afford anything decent here.

MARTYM8`

Andrew_Ryan_89 wrote: »

I did, realised it was not the best area but I grew up in Wembley so wasn't too fussed.

Never considered Dagenham previously, but because it's so close to the station, any being in its own Road (not on a high street or opposite shops) I thought it would be worth moving to Dagenham as if I didn't like it, could always sell any move closer to home with the assumption the price will rise significantly I the next two years.

We are both currently living in Harrow but can't afford anything decent here.

If you are used to diverse areas like Wembley and Harrow I would not be so concerned. Dagenham east is probably one of the better bits of the area – and you have Eastbrookend country park nearby and the A13 on your doorstep for a quick getaway.

Frankly – despite its reputation – there are a lot rougher/scarier parts of London than Dagenham east! And in the end if you want a house inside the M25 for less than £300k – you don’t have many other options. And you are near the tube – which is a bonus.

If it doesn’t work out – you can always move out further into Essex as is the Dagenham way.

searchlight123

i have two rental properties in dagenham. both let easily to young professional couples. with london prices absolutely silly, dagenham is set to increase significantly as people realise the commutability and affordability of the area.
plenty of other undesirable areas of london have seen property prices go through the roof and as long as you are within walking distance of either dagenham east or dagenham heathway underground stations i can't see it being a fail.
if i coud raise more funds i would definitely increase my portfolio in this area.

vw100

Dagenham has its fair share of problems, however it is currently one of the cheaper areas in London not being to far from the City and Canary Wharf, the Dagenham stations are in zone 5 served by the District Line. Prices have steadily increased in Dagenham over the last couple of years and they will go higher but at a slower pace than other east London areas I believe. The housing is mainly 1930's and post war builds. As you say you are paying more than the average price for the type of property in the area, but in the longer term you should not lose out, being so close to the station should help. However there is talk of house prices stagnating with the interest rate rises being mentioned in the press predicted for early new year.