X

Sign Up

or

By signing up I agree to Property Tribes Terms and Conditions


Already a PT member? Log In

Sign Up

Sign Up With Facebook, Twitter, or Google

or


By signing up, I agree to Property Tribes Terms and Conditions


Already a PT member? Log In

Log In

or


Don't have an account? Sign Up

Forgot Password

To reset your password just enter the email address you registered with and we'll send you a link to access a new password.


Already a PT member? Log In

Don't have an account? Sign Up

  • London Property Market

    Affordable areas / capital growth potential?

    Can anyone suggest any upcoming areas in London that are affordable now but you predict good capital appreciation? By affordable I'm talking about a 2/3 bedroom property, in London but also greater and even further such as Reading that cost around 300/400k.

    Thank you

    0
    0

    Hi Oscar

    I'm always surprised that the area of NW10 around Willesden Junction has not become more desirable in recent years.  Nearby locations such as Kensal Green and Kensal Rise have become hotspots and yet have nowhere near such good transport links which is the usual indicator for London prices. 

    It's still just in Zone 2 and Crossrail is now being constructed alongside so I'm sure that sooner rather than later, this little niche of working class London won't only be appreciated by people like local celebrity Louis Theroux!

    Judith

    1
    0
    Canning Town / Silvertown / Royal Docks.

    Biggest regeneration in London and Elizabeth Line coming soon. 15 minutes on DLR to City of London, 20 minutes to West End on Jubilee Line, 7 minutes to Canary Wharf.
    2
    0
    I’ve been looking at Canning Town thought I might be to late
    0
    0

    Hi Oscar,

    I think you are a bit late with Canning Town, it is actually quite pricey these days. Try Plaistow and West Beckton.

    1
    0
    Whilst it's true Plaistow and Beckton are cheaper, they're cheaper for a reason, they don't have the regeneration and transport aspects I mentioned above.
    0
    0
    Beckton was only built out since the 80’s on and doesn’t need regeneration. It has green open spaces that Canning Town doesn’t have and which is also the reason my tenants love to live there. Still, Beckton has no a High Street and transport links aren’t as good as in Canning Town.
    Plaistow and CT are similar in their housing stock with rows of Victorian terraces, but CT has had some regeneration on the waterfront and cross rail is coming eventually but the waterfront loveliness hasn’t spilled over into the surrounding areas yet,  the houses are obsolete, the makeup of the residents hasn’t changed but the anticipated change is already priced in.  So an obsolete terraced house in CT will cost over £400k, more like £450k. 
    The same house in Plaistow, half a mile down the road will be in the low £300k, even under if you are lucky. I think all inner London areas will be regenerated eventually.
    0
    0
    Not neccesarily, you need to know the area though.

    Search on here for Jonathan Clarke's "ten streets" strategy. 

    I'll give you a tip - go to the Excel, with your back facing the front door turn right and walk. You'll see the new Elizabeth Line station (yes I know it's been delayed to 2021). Walk down the steps and explore your ten streets in Custom House !
    0
    0
    London is a case on its own. I guess it depends on what you mean by "affordable".

    I grew up in the very heart of London, and have seen it change beyond recognition. I've rented, bought and sold over 43 years, and everyone has always said prices cannot keep increasing. But they did. There is a shortage of decent rental property, partly due to Airbnb, so if you have the funds, your yield will be decent. But the last couple of years has seen marked change in appreciation.

    I doubled the price of my flat in Chiswick in 10 years, and the yield averaged out at 8%. I luckily sold at the right time because property stopped selling and appreciating. Having to buy at £500k today wouldn't give you 8% in Chiswick today; closer to 4%, and the price is unlikely to double in 10 years. 

    Maybe 4% is good enough. But with all the political meddling and tax hits, maybe it's just not worth it. 

    I've just sold my house after 18 months (leaving London for York), and again, would have done well with the yield if I had let it out over the 15 years. But s.24 and the tax hits meant it was better for me to keep it empty these past month!  

    But there is an opportunity. A friend with a lovely garden flat near the River and transport links to the City has been trying to sell for 3 years, and told me only 37 flats sold in the past year. My neighbour (even closer to the River and even better transport links) has been trying to sell their flat for over a year. Deals to be had... but you are starting from a very high cost base! 

    Good luck. 

    2
    0

    Very interesting info there, thank you.

    " There is a shortage of decent rental property, partly due to Airbnb, so if you have the funds, your yield will be decent. But the last couple of years has seen marked change in appreciation. "

    Do you think this may change in the next 5 years when flats that aren't allowed to lease as AirBnB will be bought back into the fold?



    0
    0
    I don’t think the blanket statement ‘London prices are falling’ is correct. They probably do above the £500k mark in Chiswick, but some of my 2 beds in the £200k range -and yes, they do exist- have actually gone up in price recently.
    0
    0