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grey_war_canoe

London 1 Bed/studio

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I'm looking (eventually- I'm in no hurry) to buy a place in London. Given that I am able to wait indefinitely, what can I expect for 130k? This is what I am able to afford on 3.5 times my salary with a 10pc deposit. I would obviously prefer to be located centrally (z1/z2), and would prefer to live in a smaller property in a good area, rather than a bigger place in a less salubrious borough- quality over quantity if you will. I suppose my most obvious question is as to whether my demands are (or will be after the adjustment/crash/Gordon's economic miracle ;) ) realistic in relation to my means? If so, where would you guys advise?

Any advice gratefully received!

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You might want to post this on the main board - it'll get more attention there.

I'm fairly sure that within the next couple of years you'll be able to get yourself a 1/2-bed flat in London in a reasonable area. You might want to try Kennington, really central, quite pleasant (some nice georgian terraces), but not too overpriced (well it wasn't a couple of years ago, so I'm sure it'll drop accordingly) simply because it's 'south of the river'. Brondesbury is on the up as well (fashion designers and artists are flocking there), but it's mainly bigger houses.

Alternatively, if you don't mind a 45-minute commute, try Tunbridge Wells, prices are really dropping here already! But I think I bore on about that too much already - see my MANY posts on the topic...

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for sure, it was a suggestion based on price/proximity rather than aesthetics

I almost moved to Bermondsey a few years ago, but for various reasons didn't

Definately need to research thoroughly any address prior to renting/buying

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although having read the question properly; depends what you mean by centrally gwc?

I personally would define centrally as being within zones 1 or 2. I'm basically looking for a balance between location and space- I don't want to live in a shed in Knightsbridge (not that a shed would be within my budget), equally I don't want a penthouse in some shady part of town. I've looked at Oval/Kennington, Islington, Maida Vale/St Johns Wood, Hampstead, Hammersmith/Fulham and found a few (at first glance at least..) places which look to be suitable, although evidently overpriced. These properties have almost all been studios, although there has been the odd 1 bed.

Lastly, does anybody here have experience with ex-council properties? There seem to be a lot of these on the market, priced far lower than commensurate private properties- are these to be universally avoided, or can they prove to be good buys? Also, can anybody give me some information on Clerkenwell- I've seen a few places advertised here, but haven't any experience of the area- is it worth considering?

Many thanks.

GWC

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I used to live in Belsize Park about 5 years ago, and at this time it was a lovely area. I'm fairly sure it hasn't gone downhill too badly, and I think you could pick up one of the ex-LA flats on Eton Avenue / Adelaide Road (overlooking Primrose Hill park and near to Swiss Cottage tube) fairly cheaply in a couple of years - they seem to be going for around £180K at the moment, which is still hugely overpriced, even though many are 2-beds, but if they dropped to £140K (which is not unreasonable) that would be around your budget.

I have to confess, I've never been in one of the ex-LA blocks there, but I know the area is nice, and I can't honestly see any victorian conversion flats coming on in that area for less than £200K even in a slump.

Still, I'd recommend you do your research well, especially if you're not in a hurry...

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  • 302 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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