Gentrification in Canning Town/? Worth investing?

[marghini]

DP and I are looking around for "up-and-coming" areas to invest on property in London. Since DP and I can't afford to invest in fancier parts of town, our best bet is buying in a cheaper area hoping value will increase in a few years.

We read that in Canning Town there are several big regeneration plans, including new high-end housing developments, new infrastructure, a new Crossrail station and other improvements. So it sounds like the area (currently affordable) has potential.

You can read more about it here: www.homesandproperty.co.uk/area-guides/greater-london/living-in-canning-town-area-guide-to-homes-schools-and-transport-links-42966.html

After researching about the area though, it sounds like everyone on the Internet thinks it is a hopeless unsafe dump that will never see much improvement

Anyone has any experience with this area? What is your opinion about its potential?

I guess it depends what you want. It will ever be anything other than very urban - there are a few streets of lovely Victorian houses but they are surrounded by estates/the DLR so I doubt they would gain hugely in value no matter what happens to the area. But if you're after a shiny flat in a new block I think Crossrail coming would probably make it a good investment.

The other problem with it that won't go away is the proximity of City airport, of course.

"The other problem with it that won't go away is the proximity of City airport, of course."

Isn't this supposed to be an asset rather than a problem IShouldBeSoLurky?

Depends how frequently you/the people buying your property fly! It wouldn't be an asset to me.

You are probably better off looking in south east London, Woolwich, abbey wood if you want to benefit from the crossrail boom. There are still pockets of cheap Victorian housing stock and new builds and conversions to suit your budget. You might have missed the boat with Woolwich but abbey wood and neighbouring areas are still very good value.

Have a look at Plumstead, definite signs of gentrification here.