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Original poster

Where would you spend a third of a million in London?

28 replies

radiobedhead · 02/01/2015 21:59

Inspired by another thread but this one has a slightly smaller budget! Grin About £300,000 isn't even the average amount a property costs in London... But anyway.

If you had about £300,000-350,000 and wanted somewhere for you and DH plus potential dc, where would you look?

OP posts:
TeddyBee · 02/01/2015 23:37

Woodford Bridge - we live here, it's lovely and property prices aren't mad. Zone 4 on the Central Line.

MsSampson · 03/01/2015 08:43

You can buy my two bed flat in Streatham Hill/brixton if you like Grin

Seriously though, if you're looking for a house I'm guessing there are now only a few pockets of affordability. (which is why we are now leaving London, when you can't afford to live in the rubbish bit of Croydon it feels like something has gone wrong with the market). South Norwood? I know people who are moving there. Or I did notice a swanky estate agent had opened in Thornton Heath.

Original poster
radiobedhead · 03/01/2015 10:07

A flat is fine for us. Smile

OP posts:
NotAnotherNewNappy · 03/01/2015 10:56

South east... Plumstead, Eltham, welling, bexley etc

Trapper · 03/01/2015 11:03

Eltham, New Eltham, Mottingham. Z4, good public transport and Greenwich run good public services from what I have seen.

Boysclothes · 03/01/2015 11:34

Where do you have to commute to?

Original poster
radiobedhead · 03/01/2015 11:40

DH is a contractor so moves around a lot in London and I commute out of london to Bucks.

OP posts:
msfreud · 03/01/2015 18:04

For a flat, you can still get a 2 bed in a period conversion house in Lewisham on one of the streets near Brockley for that.

For something more future proof definitely a house in Plumstead. The area is on the way up but still has terraced 2/3 beds under £300k.

Somethingtodo · 03/01/2015 22:25

So you need to be NW London then if you need to get to Bucks - that would be impossible from anywhere else in London...do you use public transport or are you driving to Bucks?

You could get a one bed flat in Ealing for or 2-3 bed houses further out Northholt, Ruislip, Ickenham

Blackeyez09 · 04/01/2015 03:50

This thread has had barely 10 responses in 2 days whilst the other has had over 200 albeit slightly longer timeframe

Want2bSupermum · 04/01/2015 04:01

Honestly with your budget I would look to wait to see what happens with house prices in the next six months. Area that are out of reach now might become affordable.

I would a search in right move for your budget and see what comes up in areas you like. I found some gems this way and would def consider the ex council homes. Also consider rental homes. This might mean you buy but continue to rent until the end of the tenants lease at which point you move in.

Want2bSupermum · 04/01/2015 04:42

Did a search and found a pub for sale in brentford for £85k but it's a 10 year lease. The ad says freehold option is available. I would see what the cost is.

I would either rent out the pub area to someone else and let them headache it or close it up and have it as your downstairs. Everything is already in place for bathroom and kitchen so not too bad to update. I have purchased four old pubs in Cheshire and converted them into family homes. The prices were very cheap but you will have a hard time getting this rezoned to residential. Took six years with one place and a stern conversation with an MP showing them on a map how there were 6 pubs operating in the local area with 8 closed. Obviously more pubs than demand especially considering its a rural area with no bus access.

This is what I mean when I say think outside of the box.

Original poster
radiobedhead · 04/01/2015 07:52

Blackey - I think shopping with an abnormally large budget is much more fun than shopping with a normal one. Smile Although the market has grown so quickly in London - people who now live in places costing £300/350k bought for half that and those spending £1m would only have had to spend £500k in some areas three years ago. It's all gone a bit wrong.

Want2be - interesting, thank you. And thanks for other suggestions, will look at them all.

OP posts:
Original poster
radiobedhead · 04/01/2015 08:00

And with regards to waiting to see what the market does, is it really going to come down anywhere in London?

I remember when we moved into our rented flat three years ago agog at two and three bed terraces down our road going for £550k. Now they're £800k.

OP posts:
iamthenewgirl · 04/01/2015 08:03

Third of a million sounds a bit grand. Not sure 330k will buy you something grand...

Original poster
radiobedhead · 04/01/2015 08:59

The title is in reference to another thread. I am aware that it will only buy a flat hence subsequent posts.

OP posts:
MaraThonbar · 04/01/2015 10:51

Does it have to be London? You could get a nice place in High Wycombe or Amersham close to the station if it's practical for your DH to commute in from there. Virtually all of the remaining, vaguely affordable pockets are in SE London.

Viviennemary · 04/01/2015 10:52

I agree with waiting. I read the other day house prices were going to fall 8% by October.

3littlefrogs · 04/01/2015 10:56

A third of a million isn't much if you want to buy in London TBH.
A small flat outside London - Hertfordshire maybe?

Original poster
radiobedhead · 04/01/2015 14:30

3littlefrogs - why would I buy a small flat in Herts when we could get a small flat in London? Confused We could buy a five bed home in some parts of the country, alas....

Thank you for all of your suggestions and the reminders that £300k isn't much, or rather - not enough for london.

Want2b - how did you finance your first? Could it be mortgage? We're not cash buyers but have some obviously for deposit etc

OP posts:
thesaurusgirl · 04/01/2015 15:20

Wanstead

When babies come along, build out into the garden. Big green space, yet on the Central line.

Azquilith · 04/01/2015 15:26

www.rightmove.co.uk/property-for-sale/property-48361958.html

On this!

thesaurusgirl · 04/01/2015 15:36

I really don't think London flats at the first time buyer end of the market are going to fall in value. They will be snapped up by buy-to-let investors as part of their pension plans, especially when the new lump sum withdrawal rules come in.

I do wonder who will buy all the thousands of very ordinary 4 bedroom terraced houses in Wandsworth and Chiswick when their baby boomer owners want to downsize and can't find anyone able to pay £2m for them.

CelticPromise · 04/01/2015 15:40

Harrow- Wealdstone area. Reasonable by London standards, good transport for central London and not bad for Bucks.

icedive · 04/01/2015 16:37

I live quite centrally in London and if it were me I'd prefer to stay in zone 2 if possible, even if it meant sticking with a flat and no garden. I'd avoid ex-council mainly for the potential pitfalls with major works - we happily lived in ex-council blocks when we rented and it was fine with neighbours, but our private apartment block is definitely much better.

Peckham has some decent properties in that price bracket
www.rightmove.co.uk/property-for-sale/property-47067611.html
www.rightmove.co.uk/property-for-sale/property-46565795.html

Deptford
www.rightmove.co.uk/property-for-sale/property-46536238.html

Rotherhithe
www.rightmove.co.uk/property-for-sale/property-46853869.html

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