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Next London Property Hotspots.....

46 replies

another20 · 01/02/2017 12:28

....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?

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FatBottomedGal · 01/02/2017 12:34

Anywhere on Crossrail/ Crossrail 2?

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SaltyMyDear · 01/02/2017 12:34

Yes, I think cross rail.

For example West Drayton

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babydad · 01/02/2017 12:35

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

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EssentialHummus · 01/02/2017 12:39

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.

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Toomanycats99 · 01/02/2017 12:41

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!

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another20 · 01/02/2017 12:42

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

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YippieKayakOtherBuckets · 01/02/2017 13:34

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

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

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Kiroro · 01/02/2017 13:45

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.

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Kiroro · 01/02/2017 13:46

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!

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hesterton · 01/02/2017 13:48

This reply has been deleted

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TronaldDump · 01/02/2017 13:54

Anything around this could be worth a look.

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YippieKayakOtherBuckets · 01/02/2017 14:51

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.

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another20 · 01/02/2017 15:34

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?

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another20 · 01/02/2017 15:36

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?

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EssentialHummus · 01/02/2017 15:44

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.

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hesterton · 01/02/2017 15:52

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Message withdrawn at poster's request.

minipie · 01/02/2017 15:57

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!

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another20 · 01/02/2017 16:26

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

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hesterton · 02/02/2017 00:46

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Crervan · 02/02/2017 00:50

Hackbridge

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

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Coughingchildren5 · 02/02/2017 05:03

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.

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Stokey · 02/02/2017 10:50

Are you BTL? sounds like it

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another20 · 02/02/2017 11:14

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.

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Kiroro · 02/02/2017 12:59

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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Kiroro · 02/02/2017 13:00

You could take a chance on the bakerloo extension maybe...

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