Can I still buy in London?

[londonfirsttimebuyeragain]

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...

Streatham! You’ll have a harder time if you insist on being on the tube. Find somewhere with multiple train options (Streatham) and good buses etc. I biked to the tube when I lived there. You’re not going to get somewhere properly nice and shiny feeling for £500k but plenty of places with what you’re looking for. Tooting is kind of mucky looking around the station but it’s perfectly safe and away a couple of streets is nice. And I hate to tell you but it had already gotten pretty expensive 5+ years ago.

Yes, that's exactly what I had in mind! That block is well known for being amazing which is why it's a bit more pricey (great community, lovely communal garden areas, really quiet at night, etc). However if you found a smaller flat in a less desirable block, you could probably get it for 500k. It's a buyer's market in London at the moment - the market has really slowed down - so bargains are there to be had. Particularly if it's a probate sale (which that flat looks like, to be honest) and people just want to get rid. I wouldn't discount things over your budget - I've had friends knock £50k off asking prices recently and been accepted.

The OP can afford Tooting, it’s got a lot more going on for a younger person than Streatham.

Flats have stagnated in many parts of London so defo make some offers.

https://www.rightmove.co.uk/properties/150986501?utmcampaign=property-details&utmcontent=buying&utmmedium=sharing&utmsource=copytoclipboard#/&channel=RESBUY

Southgate - not south London but very close to the tube. Picadilly line. King's Cross in 25 mins.

Isle of Dogs is zone 2, walkable to Greenwich, Canary Wharf has a lot more going on at the weekends now, huge city farm, surrounded by water (river and docks). Schools are a weak point but you said that’s not a consideration. Elizabeth line, DLR, Tube, Thames clipper river bus, lots of travel options. City airport nearby. This kind of thing is near a nice park and easy transport. Generally the older cottages have good gardens too. www.rightmove.co.uk/properties/149948522

I agree with PPs- Streatham, West Norwood, Crystal Palace are worth a look. Advantage being, very close to Balham/Clapham (well first two are anyhow), places you've lived in and presumably know/like.

You need to call Phil and Kirsty

A single girlfriend just bought a 3 bed ex-council near Clapham South (not too ugly a block/area) in that price range. it can be done

And why do people always pipe up with 'you could buy a whole house out here in an area you don't want to live in' She said what she wants and that's ideally near a tube, not more house/extra bedrooms she doesn't need. Mitcham and Camberwell are not the same as Clapham/Balham/Tooting.

I got the same comments when I was looking - area mattered more to me than size but everyone was always saying 'just buy a house out here in suburbia.......'

She said what she wants and that's ideally near a tube, not more house/extra bedrooms she doesn't need. Mitcham and Camberwell are not the same as Clapham/Balham/Tooting.

Some parts of Mitcham are very close to Tooting, as in you cross a road. Tooting is not the same as Balham either. Also the OP said she wanted a long term move hence why I gave an option. The OP said she didn’t mind further out though…

OP says in her OP she's willing to consider all options though...

Exactly 😆

I think Crystal Palace will fit the bill - lots of chi chi shops, a fancy cinema, vintage market, at least two fancy natural wine places, a craft beer brewery, a great park. You can definitely get a two bed for under £500k

I live in Ealing, in Northfields (zone 3). It is beautifully green (Ealing has I think more parks/green space than any other London borough), has a fab high street full of small independent businesses including loads of cafes and several good restaurants, a tube station, a pilates studio and a couple of venues with yoga classes (also a martial arts gym if that's your thing!). It feels very safe to me. It's close to Ealing Broadway which has multiple transport options and all the shops you could need. Plus several bigger gyms and swankier yoga studios. Alot of two beds in your budget (put 'Northfields Train Station' into Zoopla/Rightmove), I like this one which is on a lovely tree lined road adjacent to one of the parks: 2 bed flat

Might feel a bit too far West for you but could be worth a visit if you are willing to move away from South.

Crystal Palace maybe.

Following on from the comment about Shoreditch/zone 1 - if you're prepared to go for shared ownership you'll get a lot more space for your budget. I am slightly further out from Shoreditch, just into zone 2, close to a tube station. Very easy/short travel to anywhere. Loads of nice amenities including what you mentioned and a huge lovely park and canal on the doorstep.
I am in a shared ownership flat. Mine is only one bedroom but the two-bedroom flats in my block and the others on the street fit your budget. With £500K you'll be buying a very decent sizeable share and paying very small rent on the rest.

In fact, I just looked on rightmove and can see 2 beds for £500K in my postcode even without shared ownership. Move to east London, it's great!

Earlsfield - the trains are so frequent you may as well be on the tube. Or further out Surbiton. Lovely by the river and 16 mins to Waterloo

£550k is a decent budget for a ftb 2 bed flat. You don't have to limit yourself to areas without the tube. Just look on rightmove really and start as central as you can for best transport links and proximity to attractions and amenities. Agree with pp that you should be able to make a lower offer on flats in the current market so look at properties slightly higher.

Kentish Town
https://www.rightmove.co.uk/properties/146723537#/?channel=RES_BUY

Kennington
https://www.rightmove.co.uk/properties/150603395#/?channel=RES_BUY

Borough
https://www.rightmove.co.uk/properties/148842746#/?channel=RES_BUY

Angel
https://www.rightmove.co.uk/properties/141321728#/?channel=RES_BUY

Friend of mine is about to buy a two bedroomed house in Walthamstow for about that price - there were options in that price bracket, but the market moves fast.

Superfast connections to central London with the victoria line, I think there's overground as well.

I agree. These are lovely areas. You could also look at Crystal Palace, Anerley, Penge, or Beckenham and shoukd be able to find something within your budget.

Wow, some quite interesting options, feeling slightly overwhelmed but quite relieved…will start visiting areas. Quite intrigued by East London - never expected it be affordable…Some other lovely neighbourhoods that I never looked at… will be taking stock

power of MN 😍

Definitely look at Walthamstow. You’d get a nice two-bed near Lloyd Park, maybe 15-20 minutes walk or a 10 minute bus ride to Walthamstow Central.

You can get a decent ex local authority place for that budget, even pretty central.

www.zoopla.co.uk/for-sale/details/67814661/

https://www.rightmove.co.uk/properties/86862630#/floorplan?activePlan=1&channel=RES_BUY 10 minutes from Clapham Junction, next door to the Common, coffee shops and yoga studios in every direction.