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Original poster

Where to live - London / SE

87 replies

BettyPhuckzer · 13/10/2023 13:59

Hi all

I hope you can help.

My neice currently rents in Clapham and wants to buy but can't afford Clapham

She's 28 and would have a deposit of around £120,000.00. She earns £35k.

She doesn't want to move too far from her work (Central London), so not as far out as Reading, for example, because most of her friends live in Central London

She'd prefer a freehold property, but is that even possible for her budget?

What areas would you suggest?

Thanks

OP posts:
churrios · 13/10/2023 16:31

I would suggest Catford. It’s not Clapham but is one of the few places I’m aware of that she could afford a flat. High street not great but good transport, easy to get to Peckham with lots of bars and restaurants. Edges of catford beside Ladywell, Forest Hill, Hither Green Blackheath. Surrounded by nicer areas and affordable. busy monthly food market full of folk in her age group. Not for everyone but lots love it. Search for related threads.

Turmerictolly · 13/10/2023 20:31

So max budget £300K? She'd be looking at mostly the outer London boroughs I think.

Turmerictolly · 13/10/2023 20:34

www.rightmove.co.uk/properties/138522677

This is a 10 minute walk from Blackheath Village and a fairly short bus journey to Lewisham.

Playdoughcaterpillar · 13/10/2023 20:36

Morden? End of northern line and also near thameslink train

trampoline123 · 13/10/2023 20:47

Probably best if she speaks to a mortgage broker to see what she can afford - £35k isn't much living in London, they would also consider her outgoings and just because she pays rent doesn't mean anything.

TheYear2000 · 13/10/2023 20:47

I imagine she could get a 1 bed flat somewhere nice in south london like Sydenham or Penge for £300,000?
She may struggle to get a freehold property at her budget but if she gets a flat with a decent lease and without service charge it eg Victorian conversion could be worth it as a starter property.

VineRipened · 13/10/2023 21:02

She could get a nice flat in Tooting, a couple more stops down the Northern Line from Clapham. Good transport, trendy bars and restaurants in the Market, fantastic curry restaurants, increasing young professional demographic.

Streatham: quick bus to Brixton for tube, cinema, theatre, loads of bars and clubs.

Leasehold is fine, lots of conversions and older blocks have tiny ground tents, minimal of low service charge, maybe share of freehold.

Avoid new builds with expensive concierges and high service charges.

Surely most ftb in London buy leasehold flats? I did. It’s normal.

KievLoverTwo · 13/10/2023 21:20

You might get a nice garden flat in Hither Green with her numbers, if not, Lee just up the road.

Stealthtax · 13/10/2023 21:25

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minipie · 13/10/2023 21:39

Where is she commuting to? West End, City,
Victoria?

Agree with pp suggestion of Tooting (if tube is best) or Streatham (if train is ok). For freehold she’d probably need to go to Mitcham though. Personally I’d go for a share of freehold flat rather than try to get a freehold.

Original poster
BettyPhuckzer · 13/10/2023 21:43

Thanks all. Keep the ideas coming ! GrinFlowers

She commutes to Oxford Street each day

OP posts:
minipie · 13/10/2023 22:30

That’s lovely Vine I couldn’t work out why it wasn’t more expensive but looking at the location I suspect it’s above a run of shops and restaurants.

duchiebun · 13/10/2023 22:51

she won’t find much in Tooting at that budget, it will be more like Mitcham. What about Modern as she still has the tube then?

ErcolSofa · 13/10/2023 23:05

minipie · 13/10/2023 22:30

That’s lovely Vine I couldn’t work out why it wasn’t more expensive but looking at the location I suspect it’s above a run of shops and restaurants.

Possibly not mortgageable if it is

Original poster
BettyPhuckzer · 14/10/2023 05:34

Thanks all. She was considering St Albans but I think even that might be too expensive for freehold Confused

OP posts:
duchiebun · 14/10/2023 06:36

Iconic building

Sorry this made me laugh, it’s not the bloody shard!

I would really think carefully about where & what she buys from an investment point of view. Flats in many parts of London have really struggled post Brexit & post covid. Eg the flat listed above sold for 250k in 2015 so it’s current for sale price is below that accounting for inflation & it’s already been reduced & still sitting there.
She ideally wants to future proof as much as possible.

duchiebun · 14/10/2023 06:36

I’m not up to date on current prices but St Albans is lovely.

Original poster
BettyPhuckzer · 14/10/2023 06:43

duchiebun · 14/10/2023 06:36

Iconic building

Sorry this made me laugh, it’s not the bloody shard!

I would really think carefully about where & what she buys from an investment point of view. Flats in many parts of London have really struggled post Brexit & post covid. Eg the flat listed above sold for 250k in 2015 so it’s current for sale price is below that accounting for inflation & it’s already been reduced & still sitting there.
She ideally wants to future proof as much as possible.

I must admit this ^ is my thinking (although as her Aunt it's not really my place to say too much) and I'd much prefer her to buy freehold

And I agree that St Albans looks lovely - but expensive! Grin

OP posts:
duchiebun · 14/10/2023 06:46

Another thing to be mindful of is falling school rolls. Due to FTBs leaving London, young families leaving or moving to outer zones & just general declining birth rates certain boroughs are getting hit quite hard. It may be that she doesn’t want dc but schools can impact prices.

https://schoolsweek.co.uk/falling-primary-numbers-force-council-to-consider-mergers/

Falling primary numbers force council to consider mergers

Lambeth pneeds to reduce capacity by 575 to combat a 'significant strain' on its primary schools

https://schoolsweek.co.uk/falling-primary-numbers-force-council-to-consider-mergers/

duchiebun · 14/10/2023 07:00

It’s difficult @BettyPhuckzer as prices are just so expensive. Maybe it’s worth waiting a bit as I think prices will go a bit lower.

bluepurpleangel · 14/10/2023 07:03

BettyPhuckzer · 14/10/2023 06:43

I must admit this ^ is my thinking (although as her Aunt it's not really my place to say too much) and I'd much prefer her to buy freehold

And I agree that St Albans looks lovely - but expensive! Grin

Show quote history

St Albans is lovely but almost as expensive as London and the train isn’t cheap either.

iwantabreakfastpantry · 14/10/2023 07:11

I haven’t seen much of St Alban’s but went there recently to stay with a friend. It’s ok, I didn’t see anything amazing but I was only there for two days, however, the transport links into London are great.
It maybe pretty dull for a 28 year old - I presume she is single and not about to settle into family life.

AceofPentacles · 14/10/2023 07:30

What about on the east side of the Elizabeth line ? Some parts of Forest Gate or Manor Park you can get a lot for your money .

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