Thinking about buying property in Streatham, London - AIBU to ask for general advice/tips on the area?

[HelloPossums]

Hi all,

I’m looking to buy in Streatham over the next few months (first-time buyer), and am looking for a house with at least 2 bedrooms.

I chose to focus on Streatham as it’s reasonably central and close to my work (in Victoria). There do seem to be really good transport links (train, bus and tube, with Balham tube only being one train stop away and Brixton tube a bus ride away) in the general Streatham area. It also seems well located for people wanting to work in the City or even more towards north London, as Streatham Common station has train links to Kings Cross.

I’ve got a budget of £550,000, so it doesn’t seem like the area around Streatham station or Streatham Hill station is an option, but I’ve found a few really nice places around Streatham Common station.

I’ve done quite a bit of research on the area, and have also visited Streatham a couple of times (more towards the Streatham station end than the Common end though), and it does seem nice.

Are there any areas I should be wary of, or is there anything I should watch out for when thinking about buying in the area?

Thanks!

Should add onto my last post that I’m considering taking on a lodger potentially, so that’s why I’m interested in how potential tenants might feel about the area.

Do you have kids? I'm looking at streatham too and have analysed the schools to death! £550 will get you a nice maisonette in the abc roads in streatham hill. I'd buy one if them.

I like Streatham but don't think 550k is good value for Streatham Vale.

I like Streatham Hill & the bits near Tooting Common but they aren't cheap.

@taraRoo how have you looked at the schools?

At that price you probably looking at closer to Norbury so I think the price is already inflated. Not sure how much money you'd make because the roads that are nice are already expensive if that makes sense.

I don't know enough about the schools but with that budget you'd probably get nicer architecture in Upper or West Norwood.

Thanks @jujubeany and @ploopgh. If I did buy a maisonette/flat, I’d prefer to buy one with a share of freehold rather than a leasehold flat. In terms of value of money, I can see Streatham’s not really cheap, but I meant in my previous posts that it seems to be better value than many other areas of London that are fairly central.

Would anyone have suggestions of other areas I should look into, or do you think Streatham still seems like a good idea (given that it’s fairly central and have quite good transport links)? I’m prioritising looking at areas that are fairly central and that are close to central London but that also have green spaces and a chilled vibe. Given that Streatham appears to have all this, that’s the main reason why I picked it.

Traffic is terrible. Lots of bus routes but can take ages to get anywhere due to traffic. Bit shabby in places. Massive Tescos. Errrrr... that's it really.

Ha ha, sums it up for me, massive pita to go north on the delightful south circular. Love the buzz of the High street. Thames link is very useful. I got married there, worked in a local school, kids were lovely.

Well if you spent 550k you get a flat in lots of areas, Balham, Tooting, Wimbledon etc Personally in this climate I would want a house & to future proof as much as possible.

What I meant about prices is that the nice roads are already expensive & have been for years. This has led to some inflated prices in other parts of Streatham, which I don't think represent good value. On Zoopla you can see recent reductions. There's a world of difference between a road that is 13 mins walk or a short bus ride to Balham tube & a road near Mitcham.

I think 550k would be better spent in SE postcodes if you want to make money.

I don’t see traffic as a huge problem as the transport links are so good. Streatham Common Station can get you to the Northern line in 5 mins at Balham or to Victoria in 20 mins.

@jujubeany thanks - I definitely agree and do also want to get a house, as it’ll be more spacious than a flat and I think I’ll have more freedom over deciding how to renovate it if I decide to. I would like to buy somewhere in Streatham that’s closer to Balham/Clapham, if I can, rather than towards Croydon, as it would be good to be as central as possible.

I don't see Streatham as central at all, especially once you get down to the Common. You're not going to get super central with that budget but maybe look at the Honor Oak Brockley New Cross corridor? I can't say I love New Cross but it's ridiculously quick into town and still up and coming I think.

I have lived in Streatham Hill for over 20 years. I love it. I think that you could get a house for your budget Op, towards the Streatham Vale end.

It's a quirky bit of outer London, with nice parts and not so nice parts. The high street has lots of independent shops and restaurants. Great transport links. Traffic can be appalling at times, and that will never change due to the set up of the high road. Dunraven School excellent, as are others.

Do you mean physically closer? 550k won't get you a house close to the Balham side.

I had a relative who lived near Streatham Common at the top on the right & it was a pain because the transport links for that part weren't great. No bus down to the high street & a long walk. So in that respect for me your paying London prices but without London amenities & you'd be better off looking towards Carshalton.

I also have a relative who lives in between Streatham Hill & Balham & that part is great but £££

Not sure what prices are like in Morden these days but it's on the tube.

I suggested SE because a few of my neighbours have headed that way for more space (im in Balham) & younger colleagues seem to be looking there.

I lived there for about 6 months several years ago and got quite viciously mugged so I personally wouldn't recommend the area to anyone. I do appreciate it could happen anywhere but I never felt safe walking out and about before that experience and certainly not afterwards.

Thanks @dreamingbohemian, @DoIneed1 and @jujubeany. I’ve looked at places around New Cross/Brockley/Honor Oak Park, and unfortunately there seems to be barely anything within the budget I had in mind. One of the reasons why I’m mainly interested in Streatham as an area is because I could still get the bus into work/into central London if I needed to, rather than just relying on trains, whereas in Catford/Lewisham, I wouldn’t be able to, so I feel like the Streatham area offers good value for money in terms of transport links. I think the key thing is just to find a house that’s as spacious as possible, and then perhaps renovate it to add value?

Oh my goodness @Dontdragyourfeet! I’m so sorry to hear that. Whereabouts did it happen (roughly), if you don’t mind me asking? I’m really sorry that happened to you. Have you moved out of London since, or are you now in a different part of London?

Oh gosh, the bus from Streatham Common into central London takes a million years! Traffic is awful and it's a long way. Lewisham and SE has trains, DLR, Overground and buses too, not sure it's any worse.

Personally, I can’t see how Streatham Vale is good value. It’s just in that belt of not- great areas (alongside Norbury or Mitcham etc) in between the the trendier zone 2-3 places (Brixton, Streatham Hill etc) and the nice family places in zone 5 (just for the record Sutton town centre is multicultural and urban).

If you want somewhere more central, then you could give the up-and-coming in SE London a go, eg New Cross or Brockley (less than 10mins from central London I think).

If you want to stick to SW, then I’d think that Colliers Wood will come up long before Streatham Vale. It’s zone 4 but on the Northern Line so good for the city and easy to cross platforms at Stockwell for Victoria.

Or just keep an eye out as sometimes 2-bed houses come up in more expensive places eg this one:

www.rightmove.co.uk/property-for-sale/property-70448268.html

You’ve got a reasonable budget, I’d echo other posters who say to consider more established areas. Safety would be my main priority.

Does it really have to be a house? Most people starts with flats.

I think started with flats is no longer a great idea. The price is already so high that in recent years I think it's quite difficult to make money plus moving is very expensive. if remote working becomes more common people may want more space & flats do seem to be struggling to sell at the moment.

If you're 20 & paying a ton of rent then yes go for a flat. If you're closer to 30 thinking of having dc soonish, may need to move in a few years go for a small house.

starting

I loved living in Streatham, so much space and quite green for London, Tooting Lido round the corner. People can get right snobby about it, and when I moved to Brixton with a tube station after about 5/6 years I have to admit it made all the difference for commuting to work.