What can I buy in London for £150K?

[doodab]

For £150k you might find somewhere in dilapidated block in an area nobody wants to live, thus exposing yourself to the sort of low end tenants who will quite possibly trash the place, not pay the rent and generally cause you a nightmare.

IMO you want somewhere a bit more upmarket in a half decent area with good transport links that decent tenants will want to live, but you need to be looking at an extra £100k or more on your budget. I doubt there are massive differences in yield from one place to another but you will find that prices have held up better in desirable areas than the less nice areas.

Generally a couple of people will band together and find a 2-3 bed place between themselves because they want to live in a proper home, you aren't really going to be letting individual rooms unless you are going for the grotty bedsit market.

[DeludedAussie]

Precisely why auction houses set low guide prices - to reel in mugs like you.

Judging on the variance between guide and actual process in A&R I am quite sure it wont sell for a lot more

Time will tell - I reckon this will go for 120K tops and for 3 bed place in Zone 2 near Stratford that aint bad at all

[DeludedAussie]

Judging on the variance between guide and actual process in A&R I am quite sure it wont sell for a lot more

Time will tell - I reckon this will go for 120K tops and for 3 bed place in Zone 2 near Stratford that aint bad at all

Just checked and I know why this is in auction - It has a 74 year lease and therefore cannot be mortgaged

If it was 75+ year lease this would have sold privately

Seller probably does not have funds to cover lease extension but if you are cash buyer you are laughing

[ChimpMaster]

There's a potentially huge market going somewhat unnoticed yet. The new Ebbsfleet station in Kent, which was built as a major hub for the Eurostar, has fantastic connectivity to London via a fast (15 minute) train to Kings Cross. This opens up a whole new commuter belt opportunity, with associated rental and house price rises.

I've already got a place out there - you can pick up a 3 bed terrace for ~£150k and get £700/month for it. Prices do vary, as with any region, and I've seen 3 beds going from £130k up to £180k. In any case the return is reasonable but the main reason is to look towards the future growth of commuters. Blue Water is only 5 minutes away too.

[sasguru]

£150K in London

Good one

[doodab]

There's a potentially huge market going somewhat unnoticed yet. The new Ebbsfleet station in Kent, which was built as a major hub for the Eurostar, has fantastic connectivity to London via a fast (15 minute) train to Kings Cross. This opens up a whole new commuter belt opportunity, with associated rental and house price rises.

I've already got a place out there - you can pick up a 3 bed terrace for ~£150k and get £700/month for it. Prices do vary, as with any region, and I've seen 3 beds going from £130k up to £180k. In any case the return is reasonable but the main reason is to look towards the future growth of commuters. Blue Water is only 5 minutes away too.

Good tip. I will look into that. What is the area like?

[ChimpMaster]

Good tip. I will look into that. What is the area like?

For £150k I wouldn't expect much. It's not going to be a leafy suburb of London aka Notting Hill style. But you won't be living there yourself, and will get a very rentable property with potential future growth.

Of course, you've got to do your own analysis and buy in the right areas, but the opportunity is there.

[DimPrawn]

£150K in London

Good one

WHS.

Assuming OP means central London, £150K is a parking space at best.

[doodab]

For £150k I wouldn't expect much. It's not going to be a leafy suburb of London aka Notting Hill style. But you won't be living there yourself, and will get a very rentable property with potential future growth.

Of course, you've got to do your own analysis and buy in the right areas, but the opportunity is there.

I was more thinking of moving out of London to a bigger place. I've been looking down the A3 (basingstoke, winchester etc) as well, but 15 mins into kings cross sounds very appealing.

[fullyautomatix]

I was more thinking of moving out of London to a bigger place. I've been looking down the A3 (basingstoke, winchester etc) as well, but 15 mins into kings cross sounds very appealing.

Parking at Ebbsfleet is expensive and the high speed train tickets are expensive as well. Plenty of villages around Ebbsfleet but I doubt you could get a proper house for 150K in any of them villages. Standard two bed mid terrace sell for about 150K. Gravesend might have cheaper houses but it is a dump.