What and where should I buy to sell easily (London)

[quesomanchego]

I will be looking to buy a 1-2 bed flat in London in a few months, with a budget around 400K (I may go up to 500K if I have to and it's worth it, but it would be a stretch). I don't know what my long term plans are and it's quite likely that I will move out of the UK in a few years, so it's super important that I can easily sell whatever I buy.
I'm not British and I think I need some help working out what is desirable and goes easily on the local market. I tried talking to my British friends, but it's quite awkward talking about budgets, so I hope for some anonymous online bluntness :D

My plan so far was to buy a second hand but new(ish) build, somewhere where there are a lot of new builds. It looks like I may be able to afford places like Stratford, Colindale, Woolwich etc, but it seems that these types of flats are the least desirable and Victorian conversions etc. are more popular? I don't care too much about things like community feel and local high street shops, but I'm worried other people do? I care about the general safety a lot though. Reasonable transport options are also important. I work around Oxford Circus and probably will always work in Central London.

Any comments and ideas will be great, I feel like I know nothing! Specifically:

• Would buying a conversion flat/maisonette in a smaller house somewhere more "family-friendly" be better? I'm not enthusiastic, because these flats tend to have awkward layouts and I'm worried about insulation, leeks etc, but maybe I'm wrong.
• Are ex-council flats a no-no? How do you know which ones are ok?
• Would somewhere more central but "up and coming" (like Lewisham, Abbey Wood etc) be easier to sell than a whole new build area (like Colindale, Royal Docks)?

I would say to definitely get 2 bedrooms. Market for one bed and is always more limited.

I think you'll be selling to another first time buyer so I wouldn't worry about families as they tend to buy houses.

I'm not British (and lots of people in London aren't) but when I was a young first time buyer, I also preferred new-ish builds with better layouts, soundproofing and insulation etc I wanted a young, vibrant area, with going out options, a gym, a big park etc

Ex council won't increase in value that much -except if they are in prime locations like zone 1.
The areas you mentioned are ok. Colindale has lots of flats though. Lewisham has never really up and come though.
For renting a 2 bed is best.
I would go for location always. For 500k you could get a stunning one bed in Hampstead / Maida Vale/ Bayswater

Buying a newish build in an area of newish build means your flat will be the same as 10 other flats in the market. They are all built the same with same decor and therefore the ‘choice’ reduces the value.

Conversions offer a bit more variation and interest with high ceilings and original features. Done well they add value.

Council properties tend to be bigger and more spacious.

Young adults interested in two beds wants transport links to work and local bars for nights out, adding in a cinema and local shops also adds value.

I think you need a rethink

In terms of finding good areas, you might find this new property search tool helpful. it takes into account your commute location and maximum commute time, things you care about having in your neighbourhood (e.g. good public transport access), and obviously your budget. I've found good options in areas I'd not have considered before.

I too would avoid a newish build. I think character and location are the most important things that would make it easy to sell in future.

Would you have to sell? You may have better luck with renting. London markets have slowed down- if you look on Rightmove for an area it tells you how long the property has been listed for. And no one knows what Brexit will mean either apart from it generally making things worse.

Have you factored in stamp duty? For 400k you’d be paying 5k if you can use the first time buyer regime or if not 10K. That’s a lot of tax if you think you’ll only be there a couple of years.

I think you should be thinking of it as an investment property, and have in mind renting it when you move on. In which case, you need good transport links, and a safe area. London property will hold value post-Brexit I think, although perhaps a few wobbly years, just because it's such a magnet city with a fair, settled legal system that appeals to people from across the world.

Do you "need" to buy then sell? Both stages include costs and taxes. If you plan to leave in a few years then it may be worth just finding a nice area and renting at the moment. You can then put your funds to some investment strategy in the meantime.

If you definitely want to buy now then you would have to think about either renting it when you leave or selling it. In either case you would have to put yourself in the shoes of the end-buyer or end-Tenant. If you are interested in making good profit from the property then look to buy a property that lends itself to one of the high-return property investment strategies such as the TenantBuyer strategy.

What about one of the older developments in Elephant and Castle? Fantastically central with great transport links and improving all the time in terms of amenities and desirability. The new blocks have pushed down the prices of older ones so they're now quite good value for money.
Personally I would recommend avoiding ex-council places if you're planning to let. Locations like East Dulwich, Brockley, Greenwich are worth looking at because they are popular locations and you should be able to re-let without too much trouble. There will always be a market for (modernised and well-kept) period charm but newcomers to London who are looking to rent (a sizeable chunk of the market) generally seem to prefer new-builds.