Buying in an “up and coming” area: Crystal Palace?

[phallu]

DP and I are looking to buy somewhere we can make some money on a value increase of the property. We currently live in Clapham and love it. We can afford a 2 bedroom flat here which I would be happy in. I don’t think we’d make any money on it though.

We have heard through the grape vine that buying towards Croydon is going to be a good money maker. We’ve settled on Crystal Palace for the transport links/price of property.

We can get a three bed 1930s semi for £650k! Okay it needs major DIY but there is scope to extend upwards.

The area seems very suburban and the property style doesn’t do it for me. But the thought of having an actual house and that it will probably go up a lot in value…

Do you think it’s likely? Is it worth spending 3-4 years minimum of our lives in an area we don’t love?

You’re probably near me which is technically Upper Norwood. I consider the Triangle and near the station to be Crystal Palace.

Agreed with others it’s been up and coming for years.

Read with what @Plexie says as that’s on the money really.

From what I can see in CP right now a lot of properties are actually overpriced and some have been reduced recently though not by a huge amount. Don’t forget builders too. They’re often in high demand locally (and the architects/designers doing extensions and loft conversions. There was a house in my street which was rebuilt/completely revamped (forget quite which) and sold for well over a million. They tried to sell it for a profit this year and surprise surprise no takers. So definitely not a huge amount eg profits to be made.

It’s an absolute nightmare re Dulwich estate, DB’s ex girlfriend lived there and said there were loads of restrictions re extensions/building work and I worked briefly for architects in East Dulwich who equally had issues with Dulwich estate when they allowed or not works which their clients wanted to have done.

The Barclays Bank never had a cashpoint outside its branch when they were there whereas eg Wimbledon village which I much prefer did have one or several with their banks there.