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About halsallms

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  1. Yes unfortunately Woolwich was affected by the riots, however with more than 10 other areas affected I do not think this has much of a statement about woolwich itself, more the underlying issues of the youth and under classes of the capital. Woolwich is going from strength to strength and this setback is not going to affect the driving force of regeneration in the area. If anything it will perhaps stimulate much needed investment and attention in areas that have been ignored or swept under the carpet and we will see further benefits as a result of this in 5 years time.
  2. 2. better transport links, equals more desirable commuting location, pushes prices up 3. still has an effect, and it lasts longer than 3 weeks with build up, journalists etc etc 4. still even a little is worldwide 5. again better links, more desirable for residents and potential residents
  3. Well in answer to that question, the shooting is being held DIRECTLY in Woolwich. Secondly you're making the assumption that the Olympics being a temporary event will have no lasting consequences in the area....If you come back to Stratford in 5 years time i'm sure you'll see a massive difference...okay it won't become Chelsea overnight but the will large improvements all the same. Here are some of the Myriad of factors related to the Olympics which will help house prices in Woolwich 1. Redevelopment of Gordon and Bereford Square ( partially initiated from the shooting events due in 2012) 2. The DLR, partly due to the Olympics and the further expansion in capacity and Stratford route a direct result of the Olympics. 3. The shooting events will increase footfall into the area, boosting shop revenue in the local economy 4. Promotion and advertising of the area 5. DLR transportation direct to Stratford and new Westfield shopping centre.
  4. It's a nice development and I think it is pretty normal for something like this to offer higher prices. to be honest those prices seem too high, they would make more sense closer to blackheath for example but not in woolwich. I think there are a number of projects which make the area a good investment but a good gauge is to look at existing properties and their prices. I bought a 2 bed flat in Royal Artillery Quays which is adjacent but not part of the Royal Arsenal development, so not as nice but still pretty good in my opinion. I bought it when the housing market was on it's knees for £143,000 and I reckon the value is about £180,000 circa. I have kept a close eye on house prices and have seen some Royal Arsenal 2 beds sell for about £185,000 which is a lot lower than the list prices. the problem you have is that it is unstable in terms of prices, you have such a disparity in prices which you don't get in other areas. Overall I would look at it in terms of will you be happy there, because I cannot see it making money as an investment until after crossrail comes in 2018. So maybe in 10 years time! It is a nice development though.
  5. you make some valid points here. I agree to a certain extent however i still feel there are worthwhile investments to be had in the area. I bought my 2 bed in West Thamesmead for 140k and now asking prices are around 190k + one repossession has had an offer for tender at 175k http://www.rightmove.co.uk/property-for-sale/property-16498437.html With the regeneration of Gordon square and Beresford square on the way, the new Youngs pub and the forthcoming Tesco Express and Holiday Inn express the area is improving. Nevermind the olympics and crossrail which is back on!
  6. No experience in Royal Arsenal but have bought in Royal Artillery Quays in West Thamesmead. Unfortunately the Royal Arsenal although nice is substantially more than the rest of the area. NEw build property is over priced a bit like a new car. Lenders are understandably being very cautious at the moment so they're valuation is most likely more accurate as they base this on what they could obtain should you default on the mortgage
  7. I agree with this assessment of West Thamesmead. I bought a flat in wyatt point Erebus drive in 2009 and already i have seen the improvements. I lived there for 4 months before moving out to pay for my study but im considering moving back in! There is no doubt that the area has a bad reputation and had had some bad stuff go in the past (such as Tidelsea pass on panorama) however the place has changed a lot since then. 1. Dlr has made a massive difference 2. huge investment at the Royal Arsenal...new Youngs pub and Tesco express is to come 3. New shops in woolwich high street...3 yeares ago no starbucks or Costa! 4. Olympics and Crossrail in future 5. Development of Gordon square and Beresford square 6. gradual gentrification as FTBs and young professionals move to the area. Royal Arsenal has 3000 residents. My only real gripes are that there is not much in the evening to do you have to venture further afield. Apart from the youngs pub it would be great to have another half decent bar or pub locally. Also my car got broken into within secure car parking in Wyatt point! So you still need to be wary of crime etc. Overall i paid £140k for a 2 bed and 2 bath in 2009 and the going price for similar seems to be about 175k - 190k. In fact the lowest offer i saw was 175k on a repo which the bank was tendering for higher offers on! Therefore I think the area is better than sometimes portrayed.....good value for money and is constantly improving. I do accept however that it will be 10 years before a complete transformation but the years inbetween will see constant improvement!
  8. I can afford to let the flat at £800 a month. You definately do need to be earning 40k to afford that.
  9. I do realise that but your basing your argument on no redevelopment, regeneration or improvements. Was Islington considered a nice area 10 years ago? Or some areas in the South West like Balham and Clapham which are now quite trendy? I know the woolwich is a dump and it has a long way to go but improvements like the DLR cannot be ignored! no one can deny that the DLR which takes you to Canary Wharf in 15 minutes and Bank in 29 minutes will not help to improve the area. The area by the Royal Arsenal is very nice and now has excellent links to the city, O2 and the airport etc. It tanked in the last crash and will continue to tank in the current crash The last crash was in the early 90's! If you speak to anyone in the areas about improvements over the last 3 years and they will say a significant amount has been done but a lot more still needs to be done. I am confident that after the love lane development, Royal Arsenal development and regeneration projects the 2012 Olympics with the Woolwich Shooting, and long term projects like crossrail, that the are will improve. Have a look at this link http://www.propertyinvesting.net/cgi-scrip...ommand=viewonex. Anyone agree or disagree? I am planning to move their in the short term but with the option to rent out if It really is that bad.
  10. I am in the process of buying a 2 bed apartment, not in the Royal Arsenal development but in the Royal Artillery Quays, the tall white flats about a 5 minute walk east of the Royal Arsenal. I secured a price of £140,000. Although the Royal Arsenal is very luxurious and that bit closer to the DLR etc, I think that this was a good price and suggests that anything over £200,000 for a 2 bed in the Royal Arsenal is over priced. Also Berkeleys were offering a 1 bed apartment for £245k list price but the sales consultant hinted they would accept £190,000 or maybe slightly lower for 2 of the remaining 1 beds in that block. There is a lot of development and regeneration going on around there and with the Oylmpics coming I think prices will rise in the long term. Also because of the market I dont think the effect of the DLR has really affected house prices like it might when the market recovers again. £140,000 for a 2 bed, 2 bath over looking the Thames in walking distance of the DLR......thats got to be a good deal, even in this climate. It sold new for £270k in 2004
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