Next London Property Hotspots.....

[another20]

....where would you take a punt? and what is your thinking ? eg does it have to be in zone 2 - or is it always next to where the last boom area was?

[WhatKatyDidnt]

There are loads of 2 bed flats at the £6-700k mark in N1.

[Betty4321]

I have never understood property speculators, a home is a place to live. Personally I wouldn't listen to the vested interest new stories about the next hotspot because you are likely to get burnt like in many areas of London and growing.

If you like a place in London and can afford it then buy it, don't buy homes solely gambling they will go up in value. There are too many gullible people getting or going to get out of pocket because of simple greed. Speculators aren't looking at transaction levels, important tax changes and rising mortgage costs.

[EssentialHummus]

OP, I think you're going about this backwards.

You must have a maximum budget/amount you're willing to spend. Start with that. Punch it into RM, within an area that's "west of Limehouse, East of Marylebone, South of Camden and North of the river". Does it come up with anything you like? If yes, investigate further. If no, expand search area.

I personally don't think you're going to find anywhere up and coming/due a price surge in any area within those parameters, and you need to be quite careful not to buy somewhere that suffers large price fluctuations from the comings and goings of international cash buyers.

[another20]

Thanks for the SC alert - something I am aware of - but will dig out that article.

Clearly "hotspot" was the wrong terminology....however I do want to buy something central - west of Limehouse, East of Marylebone, South of Camden and North of the river - so refined my search to zone one really. Anyone clued up on the micro markets in this area - or can point me in the direction of some sort of resource which will indicate price per sq ft of various streets etc. as trawling RM trying to compare Clerkenwell with Bloomsbury is doing my head in.....! 2 beds, low service charge, NOT new build - don't want a concierge and gym! Looking to find what is cheapest / entry level in these areas so that I can consider what compromises I am prepared to make or how much I need to spend to be comfortable. I assume nothing under 600 (will sensible lease length).

[notnjork]

3 bed terraces in Streatham are about £900k these days so I think it has pretty much up and come. Possibly some leeway for the bigger houses to rise in price a bit more.

[babydad]

Hither Green might be too late. I have been here 2 years and property prices have gone up by approximately 20%. It has the amazing schools, nice community feel and it's quick into Central London.
Catford still had some value though.

[YoureNotCockingHungry]

Hither Green.

[Imamouseduh]

Sorry but I'm laughing at the idea that there is an area in zone 2 that has just been magically overlooked by everyone else and is still cheap. If you do find it let me know!

[NotCitrus]

The areas between Balham, Dulwich and Croydon are gentrifying in lots of spots and certainly getting more expensive. Streatham has allegedly been up and coming for 25 years and has certainly up and come a lot, and Norbury is getting posher businesses at about the same rate as they and others are closing - it has a Costa now as well as good pizzas.

Anywhere within reach of the Overground rather than just Southern Trains would be a good bet if still affordable.

[conkerpods]

Bakerloo line extension is a while away yet but will probably increase prices a lot. It will come through the old Kent road then follow the Hayes train line.

[soundsystem]

Agree with Maryland. It's grotty but good transport. it's got to get gentrified at some point!

Forest Gate is next. Leyton has already upped and come (in the sense that a lot of people are already priced out).

[GETTINGLIKEMYMOTHER]

If you are thinking of leasehold flats with service charges, please beg or borrow a copy of today's Sunday Times property section - there's a very hard hitting article about the perils of service charges shooting up by huge amounts, mismanagement and malpractice, lousy maintenance, etc.
Enough to put anyone off buying a LH flat for life, or at least the type in a block of many with hefty SCs anyway.

[alazuli]

lazy - i don't live there but i went to see a few flats around there. still seems like a bit of a dump but it is very close to places like stokey and has great transport links. tottenham has been up and coming for a while and is showing a few signs of gentrification but is still pretty rough. i'd prefer south tottenham around seven sisters to say bruce grove further up.

[lazysummer]

Interested in Tottenham, South Tottenham particularly. Anyone live there?

[alazuli]

hahaha to whoever said hackbridge. i grew up there and it will never be up-and-coming. it's a boring suburb and will remain the same. it's only good for commuting into london.

i'd say forest gate and leyton although those have probably come and gone. maryland and woolwich - i've never been to either but i think they could have potential.

[redberries1]

Ladywell

[TheCyclist]

I would also agree that Maryland is worth a look. It's an absolute tip now, but it's getting Crossrail and is on the fringe of Zone 2. Gentrification has been very slow to reach Newham, though.

[JoJoSM2]

If you want to live there yourself, why don't you mind what the area is like? A grotty area might go up in price but it certainly won't be St Johns Wood... It'll probably be still rough around the edges and less grotty at best. If I were you, I'd probably look at somewhere a little more established- that's actually nice enough to live.

[Stokey]

Barking seems to be where some of the creatives are going who have been priced out of Hackney & Walthamstow. It feels more arty than say the East Ham area.

I'm not sure if that's the vibe you're after.

[Coughingchildren5]

@andshesgone yes they have built huge new platforms and a huge new station entrance on a hideous flyover.

[AndShesGone]

Is the Abbey Wood Crossrail station going to be where the current station is?

apologies if that's a very stupid question

[Kiroro]

You could take a chance on the bakerloo extension maybe...

[Kiroro]

so I suppose I am only looking at places within zone 2

LOL zone 2 came up and went ages ago!

If you want to be zone 2 just see where you can afford to buy now and don't worry about where is the next hot spot for huge capital appreciation.

[another20]

We have vague plan to move back into central London once we offload the kids (10 years time) so thought would be good to by now and rent it out in the interim - so I suppose I am only looking at places within zone 2 - but don't mind where.

[Stokey]

Are you BTL? sounds like it