Buying in Forest Gate, E7

master_ian

Hi all...Has anyone have any experience with renting AND/OR buying in the Forest Gate, E7 area of London. We're looking at BTL 1 and 2 bed flats near Wanstead Flats. Great transport links (Crossrail to have a stop here), near the Park, v near Stratford, High st not quite there but has potential!Also looking at Upton Park/Eastham but a bit not as nice an area (however, price reflects this - about 7 - 10K less).Our budget is £180K ...we have 15% deposit and looking for an upcoming area or neighboring one (ie Stratford). We have a reserve 5.19% tracker so can cover rent with this.You there Lynz?;-)

Conrad

So just as the experienced investors are either selling or waiting for next years repos, you want to pile - in right at the very top of the market!!!!

The smart investor is in it for the long run however he buys when prices are right.

Have you not seen all the repos ar auction? Barnard Marcus London auction last week resulted in flats not even achieveing thier reserve prices which were up to 50% less than the flats were bought for 2 years ago.

Mater Ian, please dont think like the masses, properdeeeeeee dont always go up m8. In last crash some had negative equity for 10 years.

As an intellignet person you wont surely fall for this line - "immigration and demand mean prices only go up, init"

If you think thats correct you need to study the market right now in crowded California where unemployment is low, desirable land rare and immigration huge. Prices are up to 50% cheaper than 1 year ago.

But Londons different, init?