Buy in Barnet, Richmond or Walton on Thames??

ElsieMonkey

economic wrote: »

disagree with 2 completely. you have flats in knightsbridge, kensington, highgate etc that are worth a lot and in demand. they will be in demand for rent too as rents in these areas will always be at a premium to up and coming areas yet still be in demand.

Knightsbrifge and kensington are very central. So yes I'd imagine there is high demand for renting from city workers etc. However Richmond is very much in the suburbs and very much an area for families. I'm sure flats are available and in demand to rent in Richmond, as they are everywhere, I would just argue in the main the demographic in Richmond are families who can afford houses, not so much professional singles/couples (who are probably the biggest renters of small flats - and in Richmond for that price it would be a small flat, if it exists at all which I doubt)!

Just seems sensible to buy a flat in an area where you know there's a high proportion of the right type of people wanting flats to rent, that's all.

ElsieMonkey

hazyjo wrote: »

Look at Leytonstone (E11), Wanstead, Walthamstow, Clapham & surrounds, Deptford, Crystal Palace. Forest Hill, Beckenham, Alexandra Palace, parts of Finchley, Peckham Rye...


Some prob way over your budget, some under, but worth checking the market in these areas.


Jx

I second this. Walthamstow I don't particularly like BUT I think it's a great place for investment. Crystal Palace and Beckenham are great and full of the right demographic (was going to move there myself at one point). I'd definitely be exploring areas in East, SE and South London.

ElsieMonkey

strawberries1 wrote: »

Thanks very much for ll your responses.
After some more research I've ruled out Richmond and Barnet.

Back to the drawing board to find areas I can buy a bed flat near a tube or rail station within the M25.

I do think that for your budget, you're realistically looking at zones 5 and 6, at a push 4. I really don't think there'd be anything half decent and in a half decent acceptable area in zone 2-3 for your budget. However don't be put off by this, I live in zone 5 and the metropolitan line gets me into central London in 25mins.

If you like Richmond (who wouldn't) and the reasons you like it are for the reasons I can imagine (leafy, nice high street, restaurants etc.) and prefer the idea of SW, W, NW London have a look at the following which share some similar features to Richmond, but on smaller and cheaper scale:

Hatch End - on London Overground line. Affluent and leafy. Great for restaurants, even has a trendy independent burger place called Chuck, icecream parlours, bars etc.
Pinner - On Metropolitan line. Affluent and leafy. Great for restaurants as above. Bus routes go as far as golders green. Community feel with regular yearly French markets and events on high street. Also twice monthly artisan food/craft market called Duck Pond Market. Picturesque old tutor style high street. People around here call it Pinner village!
Ruislip and also Ruislip Gardens - both on Metropolitan and Piccadilly lines. Both with well stocked high streets, but Ruislip better for restaurants. Ruislip also has the Duck Pond Market same as Pinner.
Hanwell - no tube but it will have Crossrail. Hanwell itself isn't that amazing but it's a short bus ride to Ealing Broadway which is on District and Central lines. Ealing is leafy and full of restaurants/shops etc. Nice parks. Could look in Ealing itself although I'd imagine it would be out of budget.
Uxbridge - it's right at the end of the Met and Pic lines, but is well connected also with bus routes (a bus even takes you all the way to Westfield Shepherds Bush, and this bus passes through Ealing). It's a university town so very lively with mix of people, good shopping centre and restaurants. Always high demand here for rent since lots of Heathrow workers and business parks in the surrounding areas.

ElsieMonkey

ElsieMonkey wrote: »

I do think that for your budget, you're realistically looking at zones 5 and 6, at a push 4. I really don't think there'd be anything half decent and in a half decent acceptable area in zone 2-3 for your budget. However don't be put off by this, I live in zone 5 and the metropolitan line gets me into central London in 25mins.

If you like Richmond (who wouldn't) and the reasons you like it are for the reasons I can imagine (leafy, nice high street, restaurants etc.) and prefer the idea of SW, W, NW London have a look at the following which share some similar features to Richmond, but on smaller and cheaper scale:

Hatch End - on London Overground line. Affluent and leafy. Great for restaurants, even has a trendy independent burger place called Chuck, icecream parlours, bars etc.
Pinner - On Metropolitan line. Affluent and leafy. Great for restaurants as above. Bus routes go as far as golders green. Community feel with regular yearly French markets and events on high street. Also twice monthly artisan food/craft market called Duck Pond Market. Picturesque old tutor style high street. People around here call it Pinner village!
Ruislip and also Ruislip Gardens - both on Metropolitan and Piccadilly lines. Both with well stocked high streets, but Ruislip better for restaurants. Ruislip also has the Duck Pond Market same as Pinner.
Hanwell - no tube but it will have Crossrail. Hanwell itself isn't that amazing but it's a short bus ride to Ealing Broadway which is on District and Central lines. Ealing is leafy and full of restaurants/shops etc. Nice parks. Could look in Ealing itself although I'd imagine it would be out of budget.
Uxbridge - it's right at the end of the Met and Pic lines, but is well connected also with bus routes (a bus even takes you all the way to Westfield Shepherds Bush, and this bus passes through Ealing). It's a university town so very lively with mix of people, good shopping centre and restaurants. Always high demand here for rent since lots of Heathrow workers and business parks in the surrounding areas.

Kingston - again uni town so similar to Uxbridge, but have the Thames.

economic

ElsieMonkey wrote: »

Knightsbrifge and kensington are very central. So yes I'd imagine there is high demand for renting from city workers etc. However Richmond is very much in the suburbs and very much an area for families. I'm sure flats are available and in demand to rent in Richmond, as they are everywhere, I would just argue in the main the demographic in Richmond are families who can afford houses, not so much professional singles/couples (who are probably the biggest renters of small flats - and in Richmond for that price it would be a small flat, if it exists at all which I doubt)!

Just seems sensible to buy a flat in an area where you know there's a high proportion of the right type of people wanting flats to rent, that's all.

you also have families live in flats as well - in expensive areas from west hampstead and highgate to knightsbridge and kensington you get many families living there who cant afford houses but dont want to live as far as richmond or uxbridge just to own a house.

i think it is sensible to buy in an area you like and buy a property big enough to suit your needs and dont sacrifice location for anything given a budget/size of property requirement.

JencParker

ElsieMonkey wrote: »

Knightsbrifge and kensington are very central. So yes I'd imagine there is high demand for renting from city workers etc. However Richmond is very much in the suburbs and very much an area for families. I'm sure flats are available and in demand to rent in Richmond, as they are everywhere, I would just argue in the main the demographic in Richmond are families who can afford houses, not so much professional singles/couples (who are probably the biggest renters of small flats - and in Richmond for that price it would be a small flat, if it exists at all which I doubt)!

Just seems sensible to buy a flat in an area where you know there's a high proportion of the right type of people wanting flats to rent, that's all.

Although it is popular with families, there are plenty of young, single people who live and want to live in Richmond and there are plenty of flats.


You won't have any shortage of people wanting to rent a flat in Richmond, but you won't get a one bedroom flat for the OP's budget, much less a 2 bedroom flat.

strawberries1

Thanks so much everyone.
My budget is now between £275,000 and £290,000 so I'm beginning to veer towards "up and coming" areas.

Belevdere has a nice village and with crossrail coimg to Abbey Wood I think it'll get the best of both worlds. Theobalds Grove in Cheshunt seems reasonable but being in zone 7 I worry it won't be as easy to get tenants.

[Deleted User]

There's loads of 2 bed flats in that price range between Stratford and Ilford.

Or... you could buy a 2 bed flat over some shops in Borehamwood (Zone 6) for £250k. 5 minutes walk to the train station. House prices have been rising rapidly over the last few years there.

Brightspark87

Can I make a london based suggestion? For that much you can look at Elephant and Castle and although not like the areas mentioned somewhere that you could see growth. Plus its really central.

hazyjo

Walthamstow VILLAGE - completely unaffordable for most of us. Prices are extortionate. It is a VERY desirable little posh pocket of Walthamstow. It's actually on Orford Road which is the main street through the village.

Bargain flat that needs work. Add a proper kitchen, sort out the layout, I'd be biting their bloody arm off for it.

http://www.rightmove.co.uk/property-for-sale/property-59452568.html

Period 1 bed flats around there (it's a tiny section) are up for £350-400k.

Obviously you'd have to check the lease length.

Jx