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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Can I still buy in London?

94 replies

londonfirsttimebuyeragain · 06/08/2024 15:35

So this been done to death but here it goes. I have lived in South London since graduating from uni, renting but always wanting to buy. When I think I cobbled enought money for a deposit - the market runs away from me. I started in a house share in Fulham, then studio in Clapham, then one bed in Balham, then one bed in Tooting, getting priced out every few years on rent. I thought I could buy in Tooting but... I started looking a few months ago and I just want to cry. I was always hoping for a two bed but have to admit that it's a pipe dream altogether.

So with a budget of 500k (may be 550, big if) where in London could I buy. I have to commute to central London every day for work so has to be fairly commutable. Ideally tube rather than train (just because of how late and frequently it runs) but open to compromise. Otherwise the holy grail of nice(ish), safe (ish), green (ish), cafes/coffee shops, gym(s), pilates/yoga studio(s), park/common/green space(s), community feel. Childfree so schools not a consideration. Probably capped out my earning potential so not a step on the property ladder but rather a long-term thing so would need to get it right.

Please hit me with ideas! Or tell me if I am being delusional and I need to rethink completely...

OP posts:
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Catza · 06/08/2024 18:14

Have you looked at Forest Hill? It was still fairly affordable when we lived there but it was a good few years ago.
Ladywell/ Brockley has a lovely community feel and is very green. Catford is, apparently, (still) up and coming.

Comedycook · 06/08/2024 18:15

What are you looking for? Flat, house? How many bedrooms?

Catza · 06/08/2024 18:17

Comedycook · 06/08/2024 18:15

What are you looking for? Flat, house? How many bedrooms?

Said two beds in her original post.

Comedycook · 06/08/2024 18:18

Catza · 06/08/2024 18:17

Said two beds in her original post.

Oh sorry I didn't see that.

Yes you can op....SE London is pro your best bet.

nougatcougar · 06/08/2024 18:18

I'm selling a 2 bed flat with share of leasehold near Stratford for £315k, so yes is possible. Not the posh new part of Stratford - look around Maryland which is minutes from Stratford on Elizabeth line so really well connected. Area still a bit run down so it's very affordable but safe

Echobelly · 06/08/2024 18:20

Finchley Central or North Finchley - boring but safe, green, decent commute. £450-550 would get you a good two bed flat. Cafes and shops better in North Finchley, but more places nearer to tube in Central.

If you want a bit trendier but still affordable, Walthamstow (where I had my first place) has about caught up with Finchley price wise for flats, and that budget might even buy you a terrace house with garden there. I was very fond of the 'Stow and it's much better for culture, food and drink now than when I lived there, and definitely better than Finchley. Also Victoria line is very fast into town.

MidnightPatrol · 06/08/2024 18:20

Have you looked around Tooting Station?

I know a few people that have bought there - you’d get a two bed with garden for your budget.

Wingsnfly · 06/08/2024 18:22

We just bought a 3 bed victorian flat for 550k on the Forest Hill/Catford border. I commute into London every day. Catford and Catford bridge are walkable in 10 mins and trains go into Blackfriars and London Bridge/Charing Cross. Takes about 20mins. Also overground at Forest Hill is walkable in 15 mins.

Forest Hill is nice. As is Crofton Park and Brockley. Has all the things on your wish list. Catford is still 'up and coming'. There's a good cheap cinema there. Can feel a bit dodgy at night though unlike Forest Hill.

Sahara123 · 06/08/2024 18:24

My daughter has recently moved to Walthamstow , I'm not an expert on prices there as she has bought via shared ownership, but she loves the area, coffee shops, the wetlands which is a fab green space , great transport links direct into kings cross. Can’t wait to visit !

2024onwardsandup · 06/08/2024 18:26

£500k is heaps for a flat in London. Look around Walworth ex council. The areas regenerating at a pace now and there’s some great flats.

2024onwardsandup · 06/08/2024 18:27

Also - close to Walworth - around oval station

PhilipLarkinFan · 06/08/2024 18:29

I actually don’t understand why this Finchley Central flat with share of freehold and private garden is just £325k. I’ve seen plenty of 1.5 and 2-beds around there creeping up to £600k-£650k. There’s a Fierce Grace on Ballards Lane so you could your hot yoga fix too.

www.rightmove.co.uk/properties/150993014#/?channel=RES_BUY

alteredimage · 06/08/2024 18:33

Woolwich? Grotty in parts, but lots of regeneration of the riverside and excellent transport. Can only improve.

PhilipLarkinFan · 06/08/2024 18:34

If OP has lived in Fulham, Balham, Tooting and Clapham, she’s hardly likely to be happy in Catford or some other grotty part of Lewisham! And I say that having lived in that saintly borough for 12 years myself.

Ginmonkeyagain · 06/08/2024 18:36

£500k is more than enough for a decent two bed in a lot of South London. Are you being particularly picky?

OneTC · 06/08/2024 18:37

Come down the road a bit to Wallington.

Ginmonkeyagain · 06/08/2024 18:41

I have just searched SW17 and there are loads of two bed flat for £500k or under.

How about this?

www.rightmove.co.uk/properties/145451465#/?channel=RES_BUY

londonfirsttimebuyeragain · 06/08/2024 18:41

MidnightPatrol · 06/08/2024 18:20

Have you looked around Tooting Station?

I know a few people that have bought there - you’d get a two bed with garden for your budget.

No, I only looked around Tooting Bec/Tooting Broadway - it used to be so affordable! Tooting Station is not the nicest area and the transport links are not ideal but I need to look again. I am at a point of being happy to move areas completely to get a “nicer” area even if it means a longer/more awkward commute. I am rethinking everything TBH.

OP posts:
Ginmonkeyagain · 06/08/2024 18:43

Stop looking at areas with tube stations. Your money will go a lot further.

londonfirsttimebuyeragain · 06/08/2024 18:46

alteredimage · 06/08/2024 18:33

Woolwich? Grotty in parts, but lots of regeneration of the riverside and excellent transport. Can only improve.

Interesting. Always thought of it as grotty, but when I lived in Fulham Tooting Bec was a no go zone. So will rethink.

OP posts: