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Bump. Also interested.
I invest and have lived in nearby Charlton for almost a decade happy to give you any info you need.
I have clients who have a few BTL properties on the Royal Arsenal Riverside (RAR) development and are planning to purchase their 4th next year (plus they also live on the development) . They have seen rental and capital values increase recently and expect them to increase further with the introduction of Crossrail. I believe RAR has its own station for Crossrail.
You can contact me via Direct Message, or 07788 219647 or call the team on 01206 654444 for personalised quote and advice
I might be able to help - have sourced a few properties there in the past and recently jv'd on a refurb flat in north woolwich just across from the ferry on woolwich manor way. feel free to give me a buzz and will help if possible - any specific questions?
regards Andrew Peers - property investor / sourcer - 07912674181
Property Redress Scheme Number 011436 NLA member 174404
Hi Andy. What’s your take on ex-council vs private flats for investment (buy to let) in Woolwich? Advantages and disadvantages?
I’ve seen a few ex-council two bed maisonettes within walking distance of Woolwich Arsenal and Plumstead stations.
My view (and its just that 1 opinion) is that prices are falling in London at the mo - in every area and every property type, roughly the same amount. Prices holding value that bit better are those lower end of the market that are perfect for FTB's (as its still a lot cheaper to own and have a mortgage instead of renting).
I went to Harman Healy auction today to both bid and see what was happening in the wholesale property market - still quite a lot of buyers and the majority of lots selling. Auctioneers being strong with vendors and making sure they reserve correctly given the current conditions. I'd say definitely less competition for each property and prices selling much lower than before (10-20%). So you can definitely buy better right now.
Hard to work out strategy - prices will fall further but also they'll be a time when you can't pick up bargains at silly prices like you can right now. Definate buyers market - i'd make sure anything you buy is super well priced. I'm working on 20% net margin after all costs - for refurb and more for devel - 25, ideally 30%+.
Cheers Andy. Any advice on pros and cons of ex-council vs private flat for investment in the Woolwich area?
Same for any area not just Woolwich
but Pro's are that you're working with a large institution that knows the law and likes to adhere to it. They often take longer to make decisions on things like permissions to alter / repairs / insurance claims etc but will give you the right and fair ruling and will be thorough often anally so.
Private are often faster (not always), but normally are business people that want get as much money out of you as they can so will often be unfair and try their luck, sometimes will give you a permission that a council wouldn't - like extending or structural change but you'd normally have to pay for the privilege. Extending lease is harder with private.
best of luck
Cheers Andy. V. helpful.
Great to see that you want to learn more about property investing in Woolwich!
Are you local to Woolwich?
In general Woolwich is a good area to invest in, with both potential for good capital growth and good yields there.
Hope this helps and if you have any more questions don’t hesitate to ask.
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