South Norwood House prices, am I paying too much?
I'm hoping to purchase a 1.5 bed flat in South Norwood around 300k. Is this overpriced for the area? Is anything happening in the area which will increase house prices?
Asked on Dec 13 2013,
House Prices in London |
South Norwood is going to benefit from the proposed rebuilding of the Crystal Palace not too far away, however at this point, I believe the price that you are looking to pay is excessive for the area. For the money, you should go to Anerley (not far) or Upper Norwood. The prices are rising there and likely to rise at a lot higher rate than South Norwood. Furthermore, its a better place to live.
Answered on Dec 14 2013,
After an intensive search for the past 2 years for a good buy, both investment and pleasant to live, we decided on South Norwood. I have lived all my life in Fulham (rented) and was blown away by the friendliness of the people in South Norwood: genuine, welcoming... what a lovely change from the very wealthy often quite pretentious Fulham crowd! Investment-wise, i was advised by a family member who owns several houses in the area that have all gone up in value. The housing stock in South Norwood is amazing: period builds, Victorian high street, and of course the unique Stanley Halls. The local community here is shaping up nicely with initiatives to turn South Norwood in a vibrant hub (http://www.stanleyhalls.org.uk/ ), new apartments are being built, we looked at architectural state of the art new green builds, all in keeping with the local period look. I was amazed by this area. A super funky new coffee shop opened on Station Road (Yeah Noah) which does live music, great food and meditation classes. The new apartment complex overlooking the Recreational Ground is attracting city workers thanks to the proximity to Norwood Junction which has 11 min trains to London Bridge. When i saw the first 'dickheads' in the coffee shop, i knew this area was on the up. The house we bought a few months ago has risen in value with over 6 grand already, and i see new couples moving in here more and more, 'sold'-signs popping up more and more, i see houses being done up, gardens redone..all good signs.
Apart from the quality of life here -parks, lake, lots of social groups, as an investment opportunity it's red-hot. Look on Zoopla for the most reliable data incl. estimates. Good luck!
Answered on Dec 15 2013,
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