where are the best places to rent in london?

Question

i am looking to buy a property in and around the london area, maybe even slightly out if necessary for my very first investment in a property. This will be my first buy and i want to rent it out but want to know which are the up and coming areas or best places to rent. my budget is around £250k

Answer 1

I don't know if you'll be able to get any closer to London with that budget, but have you thought about Croydon? A friend bought a nice 2 bed flat there about 2 years ago for a little over £200k, the value has risen since and they're anticipating that housing values will rise quite dramatically when Croydon gets the tube in a few years. Plenty of young professionals working in the area probably looking to rent.

Answer 2

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Answer 3

Really, with a budget that you have I would be looking more towards Greater London, in particular Surrey. Places such as Kingston, Sutton, Croydon,Cheam,Worcester Park and Carshalton. Kingston is the most up and coming, as they have many re-developments on the river and of course it is always trendy when you are situated near the Thames. The other places are not so up and coming, but do have future potential. I have just bought a property in Kingston and I spent just under £250k, plus it has all been renovated so does not require any major works,. It is close to all local ammenities and is a quick route into london. And of course it is only one step away from the university, so you should not have any problems with renting.

Answer 4

There was an article in one of the London papers this week saying that they estimate property in central London and areas such as Croydon and Sutton to rise by 20% by 2010. If you have £250K I would go more central as rental returns will be more... they say the tube link may go to Crystal Palace and i think that area has changed for the better so would hopefully attract better tenants. There are nice restaurants and bars there now. West Croydon, in my view, is quite a rough area - but it's near Cinatras!!! South Croydon is better and there is a good link to London on main line trains and Park Hill by East Croydon but if it's for rental then maybe that's not such an issue. They are extending the tube link to Clapham Junction giving you national rail and tube... i think that is an area you will never lose money. I also read that Kings Cross would be a wise area to invest in. Good luck!

Answer 5

I would suggest the Hackney area as it is near the proposed Olympic stadiums, it is supposedly really trendy, it is near Central London and because it does not have a tube line is is cheaper than most places but there will be a tube in 2010. The places to chose are London Fields. Broadway Market or the Kingsland Regeneration area.

Answer 6

Brixton.... every home ( crap hole ) comes with a 9mm Glock and a re-made will and Coffin ... but at £10,00 a House its easy money...( Just watch the Rats jump when you put the rubbish out )....oh..and don't forget the "Right Guard" ... Hygiene is not very high on the shopping list there..! For £250K you could buy the whole place and Bulldoze it ...and sell it for £500K+ ...

Answer 7

Be sure this is what you want..Money does
not grow on trees..London is a wonderful place to visit, but buying property, watch out..Check well before you move on this one..

Answer 8

I would say Islington and also East London.

Answer 9

Feltham - http://observer.guardian.co.uk/cash/story/0,,1874121,00.html

Answer 10

You cannot buy a London property with less than £500,000.00