London prices

[intwrferingma]

I've lived in the sticks too long. And don't k is what to advise DD. She is thinking of buying her first flat in London. Decent deposit (thanks sadly to all four grandparents dying on the last couple of years and skipping the generations for inheritance). And v good and stable job.
But I have no idea which direction prices are going. She could wait. But should she?

Sorry to be vague but any views would be interesting

I used to live in SW9 - which was Brixton but towards Stockwell and there are some really lovely victorian conversions there (Chantry Road etc). They have some really decent sized two bed garden flats.

With a budget of £800k I'd be looking for a house and most definitely not a new build but I can't stand Clapham and prices are different in SE London (where I am now).

500K cash! 800K with a mortgage! 24 years old!

F**k me! What did I do wrong!?

Nothing @Laffinalltheway.

And frankly I'd rather I still had my mum and dad around than my DD contemplating a lovely flat purchase. I think she feels the same too tbh. But that's where we are. Grandparents kindly and probably sensibly skipped a generation

@saddowizca and at £545, 000 well within budget!! For a 2 bed with garden plus a large home office- Yep it's more Raynes park I guess but still close enough to most things

She might grow out of Clapham quite quickly, it’s like an extension of a university campus. I loved it at 23, hated it by 26. But either way, a period property will be a much sounder investment than a new build. I’d look at one of the purpose built period maisonette types with their own front door, there are quite a few around Battersea, Earlsfield and Wandsworth.

Some age advice rolling in here I think. Thank you all x

sage advice!

How old is she? If older I would buy a house over a flat as less risk. There's lots of flats in SW London that haven't sold for much more than their last sale if purchased in the last few years.

Plus with that budget that will be higher end of the flats which I would say is most risky.

I love that Wimbledon flat!

Its up for 545k been on the market since Oct & last sold for 497k. SD would be around 15k.

Don't buy a new build flat, definitely get outside space.

Top budget something like this, safe road, near the tube & garden.

www.rightmove.co.uk/properties/122091158#/?channel=RES_BUY

She could look around Tooting, bit cooler than Clapham imo.

www.rightmove.co.uk/properties/123760646#/?channel=RES_BUY

This one is nice.

I disagree with those saying that Victorian conversions are better than new builds. A lot of the Victorian/Edwardian houses in London were put up really quickly using low quality materials. My old flat was incredibly noisy (noise from all sides), and the walls were basically crumbling. It did have lovely high ceilings, a garden and parking though.

Exactly- my daughter was also able to afford a property in London (but only 1 bed) due to inheritance. But it’s a bit tactless for anyone to imply they are lucky as it means they don’t have a beloved family member anymore

I think that Stockwell one is too expensive considering no garden & I don't think the prices are very different from when they were new.

Exactly- my daughter was also able to afford a property in London (but only 1 bed) due to inheritance. But it’s a bit tactless for anyone to imply they are lucky as it means they don’t have a beloved family member anymore

I don't think anyone means that though, more lucky to get an inheritance. After all plenty of people lose a parent or gp & don't get an inheritance.

@gillyff The Stockwell one is lovely internally- but my thoughts would be- would this suit if I had a partner and possibly a baby? I know you can move of course , but even then I think there is more of a restricted market looking for an inner city £700k flat with no garden and it probably wouldn't be right for a young family. Whereas a 600k 2 bed conversion flat with a garden in a leafy area will have I feel a wider market , would work with a baby and a partner and probably more rentable too if needs be

If she's prepared to go up to £800K, here's a lovely house in central Wimbledon for £775K

I agree, you need to think about future buyers particularly with interest rates/economic uncertainty.

@BIWI that's a good one & very good price.

I agree. It's sad, but ultimately, we will all lose our parents and grandparents.

Those who receive an inheritance as a result are lucky to do so. Many families are not in a position to leave anything to the next generation.

If she can afford a house with a garden, she would be mad to choose a flat. Flats will be more exposed to market fluctuations, will be leasehold, and if she finds a partner or has children, she'll want the extra space and the garden (and moving house costs £££ in stamp duty in that price bracket).

This one is Battersea, but on the Clapham side. There’s a grid of very cute 2-3 bedroom, Victorian cottages. Battersea hill has a similar vibe to Clapham.

it is £850k and as there’re no photos it will need doing up (I expect) but she could let the second bedroom to pay the extra £50k and it would put her several rungs up the ladder. OK, she won’t get the immediate designer look, but it is a better option long-term.

www.rightmove.co.uk/properties/85602192#/?channel=RES_BUY

Another area to think about which is pretty central is Sands End. Good for Fulham, Wandsworth and Chelsea and with the overground train. It is surprisingly peaceful too.

www.rightmove.co.uk/properties/85522770#/?channel=RES_BUY

I like this too for its river views and spaciousness and it is share of freehold

www.rightmove.co.uk/properties/123467222#/?channel=RES_BUY