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Next London Property Hotspots.....

(47 Posts)
another20 Wed 01-Feb-17 12:28:26

....where would you take a punt? and what is your thinking ? eg does it have to be in zone 2 - or is it always next to where the last boom area was?

FatBottomedGal Wed 01-Feb-17 12:34:23

Anywhere on Crossrail/ Crossrail 2?

SaltyMyDear Wed 01-Feb-17 12:34:54

Yes, I think cross rail.

For example West Drayton

babydad Wed 01-Feb-17 12:35:43

Anywhere South East outside Zone 2 still has movement in it. Tottenham, Hale in North London.

EssentialHummus Wed 01-Feb-17 12:39:16

Another "Crossrail" from me - though I think some of them have gone up in value already.

I live in Lewisham, and I think it has a few years of very solid house price growth ahead - zone 2, lots of amenities springing up, historically pretty cheap.

Toomanycats99 Wed 01-Feb-17 12:41:53

I live neArer Croydon and there seems to be a lot of investment there at the moment. Lots of new development and a Westfield to follow in a couple of years. Don't know if that would make it a hotspot!

another20 Wed 01-Feb-17 12:42:45

Do you not think that the cross rail / cross rail 2 lift will have already happened or maxed out?

YippieKayakOtherBuckets Wed 01-Feb-17 13:34:21

Abbey Wood / Thamesmead. Plumstead is already on its way.

Might be a bit gritty to live in while you wait for the boom, however.

Kiroro Wed 01-Feb-17 13:45:40

Outer reaches of cross rail - not maxed out yet but has had quite a chunk of uplift.
Tottenham hale - well connected transport wise and has had regen money spent. I would be wary of buying a flat in Hale Village tho - not a nicely laid out of constructed development, will be a slum of the future.
Hither Green and surrounding areas - have been previously overlooked and are now gaining popularity.
Croyden.
Maryland - fantastic connections but pretty grotty right now.

Kiroro Wed 01-Feb-17 13:46:29

Might be a bit gritty to live in while you wait for the boom, however.
That is usually the way! You think "oh I wish I had bought in [hoxton] in 2000, then you think back to what hoxton was like in 2000!

hesterton Wed 01-Feb-17 13:48:06

Newham still has a way to go so is less expensive than it could be given its transport links. Around Star Lane on DLR, for example. And Catford -> outwards in SE London.

TronaldDump Wed 01-Feb-17 13:54:23

Anything around this could be worth a look.

YippieKayakOtherBuckets Wed 01-Feb-17 14:51:51

Kiroro oh yes, absolutely, but I remember Hoxton in 2000 and even then you could at least walk for fifteen minutes and be on Upper Street. Thamesmead and Abbey Wood currently feel very remote from the rest of London, and will do until that bit of Crossrail opens (I think end 2018?)

Do you not think that the cross rail / cross rail 2 lift will have already happened or maxed out?

OP, I think you'd be surprised. IMO there are usually a couple of phases to these things. There's an early bump when investors and speculators get involved, but then things tend to go quiet for a while. 'Real' people who are looking to buy a home rather than an investment aren't generally in a position to buy a cheap place and then wait for the rail connection to open; they need to be able to get to work now.

We bought in Camberwell when the Overground extension was planned for Denmark Hill but work hadn't started. The massive jump in prices happened once the link was actually opened and Denmark Hill appeared on the Tube map.

another20 Wed 01-Feb-17 15:34:05

Yippee that sounds like sensible speculation - assumed might have missed the boat.

Is there any evidence in the past that new hotspots loose value more if there is a slump compared to more established areas? For example over the longer term would you be better buying somewhere safe eg St Johns Wood compared with Walthamstow Village?

another20 Wed 01-Feb-17 15:36:30

Also would you go for a new build in a redeveloping area or take on an existing older property in the same area to maximise any capital growth? Thinking of Old Oak Common and E&C etc?

EssentialHummus Wed 01-Feb-17 15:44:19

In my experience new builds are the first to drop in value when the market has a wobble - people pay a premium for a "new" flat, sometimes with prices inflated by Help to Buy type schemes. Once it isn't new (and especially if its a poorly-built shoebox) the value can drop.

I always buy old, slightly run-down properties that need a bit of love. Has served me well so far.

hesterton Wed 01-Feb-17 15:52:57

I tend to agree with Hummus.

minipie Wed 01-Feb-17 15:57:53

Is there any evidence in the past that new hotspots loose value more if there is a slump compared to more established areas? For example over the longer term would you be better buying somewhere safe eg St Johns Wood compared with Walthamstow Village?

Yes. Plenty of evidence. But obviously it's more expensive massive understatement to buy in St John's Wood!

another20 Wed 01-Feb-17 16:26:47

Thanks Hummus and Hesterton - this is what I was thinking - maybe the trick is to try to buy a "new build" second hand (bit like low mileage car) when the premium has been eroded by the original buyer (assuming well built not shoe box etc)? But as you have experienced Hummus going for older unloved works well.

minipie - do you know any websites that would show this sort of evidence / data ? eg price per foot etc

hesterton Thu 02-Feb-17 00:46:59

I would look at 1950s homes as they have traditionally been the poor siblings of the housing market, being not new but not 'prettily' old. There's a kind of look which is around now which suits them though - scandi simplicity perhaps. And ex LA houses - cheaper but often nice spaces in the right places.

Crervan Thu 02-Feb-17 00:50:25

Hackbridge

Loads of new developments, close to stations and tram, close to beddington park, sutton, Croydon, it's on the up.,

Coughingchildren5 Thu 02-Feb-17 05:03:21

I think the golden ticket is abbey wood. It is currently cheap and quiet but there is a range of housing stock and lots of space. Once crossrail opens it will be 15 mins to central London or 15 mins to the m25. Very well positioned and lots of potential with suburban streets, open spaces, a few local villagey hubs... Plumstead will always be gritty with small Victorian terraces limiting the potential. Neighbouring Woolwich is also on the rise but I think the major boost has come and gone there.

Stokey Thu 02-Feb-17 10:50:48

Are you BTL? sounds like it

another20 Thu 02-Feb-17 11:14:31

We have vague plan to move back into central London once we offload the kids (10 years time) so thought would be good to by now and rent it out in the interim - so I suppose I am only looking at places within zone 2 - but don't mind where.

Kiroro Thu 02-Feb-17 12:59:56

so I suppose I am only looking at places within zone 2

LOL zone 2 came up and went ages ago!

If you want to be zone 2 just see where you can afford to buy now and don't worry about where is the next hot spot for huge capital appreciation.

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