1st time buyer, London - 1 to 2 bed flats. Where is "on the up?"

[Soph]

Hi,

I'm looking to buy a 1 or 2 bed flat in London zone 2 or 3. My main aim of the project is to find somewhere run down so I can then spend some time and money doing it up. My other requirments are: 15mins or less walk to train/tube, then 30mins or less into Central London.

What I am wondering is if anyone can advise on the areas of London that are likely to increase in value over the next 3 - 5 years?

I'm fairly familiar with West London, but having been here only a year, I am not familiar with many other parts of London, so it's hard to decide where would be a intelligent place to invest.

Can anyone help?

Thanks,

Soph

[Dan S]

Hi Soph,

Of course London could never be said to guarantee you capital gain, but I'd say you've got your head firmly screwed on if you're looking to buy in London. Ever since the financial crisis of 2008, it really has been a case of London, and then the rest of the UK.

In terms of a decent place to invest in London, you'd be better off buying in an area you actually want to live yourself. Since you're looking to buy in zones 1 or 2, you'll be pretty sheltered from any storm.

On the negative side though, you may find it rather difficult to source a property in either zones 1 or 2 that needs work done to it. Sarah Beeny style projects are very few and far between there.

That's not to say you can't get one, but you'll need to be free of time pressures to buy.

Feel free to get in touch if you have any more questions.