BTL South Norwood ?

[novicelandlord]

Hi

Currently I am looking for a BTL property in South East London, budget is between 300¬350k. First I started to look at Peckham, New Cross area, Deptford (Zone2), which is my budget only allow 2-3 bed ex local flat. Yield would be high with this property.

Then I found if I purchased one in South Norwood (Selhurst – Thornton Heath) (Zone4), I could get freehold house instead within my budget. Relatively low yield would be fine.

My questions are:

1. Is South Norwood attractive to renters?

2. Could you tell me which part of South Norwood area you would recommend to buy-to-let?

3. I know many professionals and students would prefer to live in zone2, Peckham or New Cross would be easy to find tenants. But I am bit worried a property in zone4 means my target tenant would be only families? In other words, is there any professional and students or are any landlords have experience renting to this kind of tenant in the South Norwood area, zone4?

Many thanks in advance for any feedback!

I would say to buy somewhere smaller in Zone 2 - in a tough market you would still get students needing your place in NXG, Peckham or Deptford, but in SN families could always just go for Croydon...

I don't think south Norwood would be the target market for students or yuppies. I'd stick to smaller place in zone 2, zone 4 is for families.

Agreed. Before children I would never have considered zone 4 - although even 3 was pushing it!

We have a BTL in S Norwood and renting it out has been very easy. Transport is excellent and demand was quite high. House is located near Arena tramlink.