Not the best time to do what you're thinking. The Chinese have put in domestic restrictions on overseas housing very recently which is causing a lot of developers a bit of panic in recent weeks. T
Without wishing to derail the thread please will you elaborate more on this as of interest to me and have missed this.
@JamesSeed I know nothing about property investment other than literally ANYWHERE with a London post code will appreciate and the more central the better unless it's already been gentrified. Echo the Woolwich/ Plumstead comments as have family there and it's silly.
Lewisham too where unbelievably a bedsit is going north of £250k (for a bedsit in Lewisham) if you've not missed the bubble there. I imagine Catford will be through the roof too and estate agents calling it Forest Hill east etc. The new build flats that look like a prison where the old dog track will probably be half decent investment if not already all sold as right next to the 2 stations.
I think you'd better start talking to some Estate agents. I've been told by a few clients looking to sell or rent out their properties in London (Canary Wharf, SE, E & N London) that the market is stalling and prices are slowing rapidly.
Agents are the last people to talk to for honest advice! Read the finance press (FT etc), look at share prices and noises and action coming from both political parties now.
Whilst on the subject of Plumstead.... A little anecdote re the place... My British passport has birthplace of Plumstead, London My 13 year-old sons British passport has birthplace of Plumstead, Cape Town. 2 places, same name, but very different ! When I worked in Sydney, there was a place on the ferry called Woolwich - I had to visit, hmmmmm, I know which one I prefer - and it aint got a postcode of SE18.
I’ve found some great places in and around Bury St Edmunds for between £170,000 and £240,000. I’ll have to find out how much net rental income there might be. But very tempted.
I’ve found some great places in and around Bury St Edmunds for between £170,000 and £240,000. I’ll have to find out how much net rental income there might be. But very tempted.
Depends what you are after, capital growth or rental income. For rental the midlands and surrounding can be very good, Sheffield you can gross 10%+. Or if you are brave student lets are where the money is, Nottingham is very good.
I’ve found some great places in and around Bury St Edmunds for between £170,000 and £240,000. I’ll have to find out how much net rental income there might be. But very tempted.
Depends what you are after, capital growth or rental income. For rental the midlands and surrounding can be very good, Sheffield you can gross 10%+. Or if you are brave student lets are where the money is, Nottingham is very good.
Absolutely this. I think I made the point on Prague's investment thread some time ago that property in big university cities offer great returns, and if the right place is picked can also provide decent capital growth.
That's also a plan for the future: When my son is at uni we'd buy a 2 bedroom flat, rent out the second bedroom which'll provide him some income. Sell the place after three years, hopefully for a profit. What could possibly go wrong.
That's also a plan for the future: When my son is at uni we'd buy a 2 bedroom flat, rent out the second bedroom which'll provide him some income. Sell the place after three years, hopefully for a profit. What could possibly go wrong.
Me and you both when I finish touring what seems like 100 universities and my daughter decides and hopefully gets her place. Regardless of making a capital profit even if you only cover costs (and you should do far better) you'll save probably £10k (it's likely the 1st year they'd live on Campus).
Skip the two bed flat though, students want a 3/4 bed house with 4/5 students in it, 2 bed flats aren't great for parties and lots of people around!
Depending how you fund it and what you intend to do long term, putting into a trust for your daughter can be a good idea. It's what i'll probably do until she's 25, that way she can also get an income post leaving Uni for a couple of years, then at 25 when in effect the trust matures it'll be up to her if she sells it or keeps it.
I’ve found some great places in and around Bury St Edmunds for between £170,000 and £240,000. I’ll have to find out how much net rental income there might be. But very tempted.
Depends what you are after, capital growth or rental income. For rental the midlands and surrounding can be very good, Sheffield you can gross 10%+. Or if you are brave student lets are where the money is, Nottingham is very good.
Absolutely this. I think I made the point on Prague's investment thread some time ago that property in big university cities offer great returns, and if the right place is picked can also provide decent capital growth.
Bob, we should set up a limited company and buy a few, although Corbyn might not like it in a few years
Whilst on the subject of Plumstead.... A little anecdote re the place... My British passport has birthplace of Plumstead, London My 13 year-old sons British passport has birthplace of Plumstead, Cape Town. 2 places, same name, but very different ! When I worked in Sydney, there was a place on the ferry called Woolwich - I had to visit, hmmmmm, I know which one I prefer - and it aint got a postcode of SE18.
Am meeting Ross there in a few weeks. We'll have to go and check it out.
Looks probable that I'll buy a 2 bedroom apartment in Taunton for 180k. Rental income is ok and the estate agent I'm buying from will manage it for me. No fuss.
Looks probable that I'll buy a 2 bedroom apartment in Taunton for 180k. Rental income is ok and the estate agent I'm buying from will manage it for me. No fuss.
Nice part of the world, be better returns than London if not the potential capital gains (or losses!).
I was just back in London recently and was looking at a few of the developments being put up in Greenwich. It's ironic that council estate housing was demonized but the one development where Greenwich Hospital used to be looks like a council estate but they will charge you 400K plus. I do wonder what the planning and zoning rules were as some of the new stuff is quite ugly. Saying that Greenwich is a wonderfully vibrant area nowadays and enjoyed a couple of good meals and a few pints in the pubs down there.
I was just back in London recently and was looking at a few of the developments being put up in Greenwich. It's ironic that council estate housing was demonized but the one development where Greenwich Hospital used to be looks like a council estate but they will charge you 400K plus. I do wonder what the planning and zoning rules were as some of the new stuff is quite ugly. Saying that Greenwich is a wonderfully vibrant area nowadays and enjoyed a couple of good meals and a few pints in the pubs down there.
I think the developers rule the roost with Greenwich council. Some of the new stuff is good quality but there are some poor developments and I'm not sure if the infrastructure is keeping up.
Prices in Greenwich are still reasonable compared to most of London which just shows how mad things are.
My wife and I were looking for an investment property just down the road from us. £210,000 for a two bed terraced.
Nice place, stones throw from us and a good developer.
The following morning it went up to £240,000.
I popped into the sales centre to enquire what had happened and they said that there was a fast train going into London from my town twice in the morning and twice in the evening. That alone increased that house by 10-15% overnight!
There are rumours of crossrail extending to Ebbsfleet. And there are 15,000 homes being built at Ebbsfleet. If you could get in there early and wait you may well pick up a bargain.
To think I nearly bought a one bedroom flat in Islington in 1979 for 15k
colleague is buying the flat he rents in Islington at the moment, had it valued last yr at £725K and has just agreed the price with the landlord at £550K... would be very careful about buying resi in London now.
If we all knew 25 years ago what would happen we'd all be multi millionaires. I remember my mates dad buying a block of 5 maisonettes in grove park at auction for £80k, my mate (his son) had one and he flipped the other 4 about 9 months later for about £100k. Be worth over £1m now and 25 years rent would have mounted up to a tidy sum.
To think I nearly bought a one bedroom flat in Islington in 1979 for 15k
colleague is buying the flat he rents in Islington at the moment, had it valued last yr at £725K and has just agreed the price with the landlord at £550K... would be very careful about buying resi in London now.
I looked at a lower ground floor flat in Islington priced at £15k. I was put of by a bit of a bulge in a wall. That was 1978 or 79. It was in Liverpool Road.
I really, really DON'T want to know what it would be worth now.
If we all knew 25 years ago what would happen we'd all be multi millionaires. I remember my mates dad buying a block of 5 maisonettes in grove park at auction for £80k, my mate (his son) had one and he flipped the other 4 about 9 months later for about £100k. Be worth over £1m now and 25 years rent would have mounted up to a tidy sum.
If, big if, you can afford it.... never sell a house. Always try to keep it when you move.
To think I nearly bought a one bedroom flat in Islington in 1979 for 15k
colleague is buying the flat he rents in Islington at the moment, had it valued last yr at £725K and has just agreed the price with the landlord at £550K... would be very careful about buying resi in London now.
To think I nearly bought a one bedroom flat in Islington in 1979 for 15k
colleague is buying the flat he rents in Islington at the moment, had it valued last yr at £725K and has just agreed the price with the landlord at £550K... would be very careful about buying resi in London now.
I got the impression that last year estate agents were still ‘valueing’ properties on an unrealistic upward trend that wasn’t reflective of what people wanted to or could afford to pay and didn’t take into accounts but that Brexit could have an impact. It’s what estate agents do, they get commission from selling properties and the ones that value a property the highest probably gets the job if selling it. Realising those valuations is a different matter altogether. That £725k valuation was probably not realistic at the time if the deal is being done at £550k. A quick look at what similar properties nearby had actually been sold for might give a better picture of where the market valuation should have been pitched at.
To think I nearly bought a one bedroom flat in Islington in 1979 for 15k
colleague is buying the flat he rents in Islington at the moment, had it valued last yr at £725K and has just agreed the price with the landlord at £550K... would be very careful about buying resi in London now.
To think I nearly bought a one bedroom flat in Islington in 1979 for 15k
colleague is buying the flat he rents in Islington at the moment, had it valued last yr at £725K and has just agreed the price with the landlord at £550K... would be very careful about buying resi in London now.
I got the impression that last year estate agents were still ‘valueing’ properties on an unrealistic upward trend that wasn’t reflective of what people wanted to or could afford to pay and didn’t take into accounts but that Brexit could have an impact. It’s what estate agents do, they get commission from selling properties and the ones that value a property the highest probably gets the job if selling it. Realising those valuations is a different matter altogether. That £725k valuation was probably not realistic at the time if the deal is being done at £550k. A quick look at what similar properties nearby had actually been sold for might give a better picture of where the market valuation should have been pitched at.
Comments
A little anecdote re the place...
My British passport has birthplace of Plumstead, London
My 13 year-old sons British passport has birthplace of Plumstead, Cape Town.
2 places, same name, but very different !
When I worked in Sydney, there was a place on the ferry called Woolwich - I had to visit, hmmmmm, I know which one I prefer - and it aint got a postcode of SE18.
Skip the two bed flat though, students want a 3/4 bed house with 4/5 students in it, 2 bed flats aren't great for parties and lots of people around!
Depending how you fund it and what you intend to do long term, putting into a trust for your daughter can be a good idea. It's what i'll probably do until she's 25, that way she can also get an income post leaving Uni for a couple of years, then at 25 when in effect the trust matures it'll be up to her if she sells it or keeps it. Bob, we should set up a limited company and buy a few, although Corbyn might not like it in a few years
http://www.rightmove.co.uk/property-for-sale/property-50329134.html
Roughly £275-300 a week
Prices in Greenwich are still reasonable compared to most of London which just shows how mad things are.
Nice place, stones throw from us and a good developer.
The following morning it went up to £240,000.
I popped into the sales centre to enquire what had happened and they said that there was a fast train going into London from my town twice in the morning and twice in the evening. That alone increased that house by 10-15% overnight!
There are rumours of crossrail extending to Ebbsfleet. And there are 15,000 homes being built at Ebbsfleet. If you could get in there early and wait you may well pick up a bargain.
That was 1978 or 79. It was in Liverpool Road.
I really, really DON'T want to know what it would be worth now.
https://www.the-saleroom.com/en-gb/auction-catalogues/graham-budd-auctions-ltd/catalogue-id-srgrah10006/lot-8cdb4127-3d9d-48ac-99c0-a4480117480a