Plumstead’s Housing Market and Transport links

With its diverse range of residential properties, competitive prices, and excellent transport links, Plumstead is a location that is definitely worth considering. In this blog post, we’ll take a closer look at the housing market in Plumstead, and why it could be the perfect place to invest in a buy-to-let property.

Volume of Residential Properties

Plumstead is a vibrant and diverse area, with a range of residential properties to suit all needs and budgets. There are over 3,000 properties in the area, with a split of around 50% flats and 50% houses. Of these, around 25% are 1-bedroom properties, 40% are 2-bedroom, and 35% are 3-bedroom. This distribution is in line with the average in London, making Plumstead a competitive location for buy-to-let investment. 

Renting vs Owner Occupier Rate

Around 65% of the housing stock in Plumstead is for rent, with the remaining 35% being owner-occupied. This is slightly higher than the average in London, making Plumstead an attractive location for tenants. It’s important to consider the renting vs owner-occupier rate when choosing a buy-to-let location, as this can give an indication of the rental demand and potential return on investment.

Average House Prices

The average house price for a 1 bedroom house in Plumstead is approximately £250,000. For a 2 bedroom house, the average price is around £350,000, and for a 3 bedroom house, the average price is approximately £450,000. In comparison, the average house price for a 1 bedroom house in London is £500,000, for a 2 bedroom house it is £700,000, and for a 3 bedroom house it is £950,000. As such, Plumstead is an attractive option for potential landlords looking to invest at a lower cost. 

Age of the Housing Stock 

The majority of the housing stock in Plumstead is over 50 years old, with around 10% of the properties being new builds. This means that there are plenty of older properties that may require some updating, but also a growing number of new builds that offer modern and high-quality living spaces. It’s important to note the age of the housing stock when choosing a buy-to-let location, as this can affect the condition of the properties and potential return on investment.

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Major Housing Development Projects

There are several major housing development projects underway in Plumstead, including the Royal Arsenal Riverside development and the Plumstead Common development. These projects are transforming the area and providing new homes, shops, and community facilities. For more information on these and other housing development projects in Plumstead, you can visit the Royal Borough of Greenwich website. 

Factors to Consider when Investing in a Buy-to-Let Property

When investing in a buy-to-let property in Plumstead, it’s important to consider a range of factors to ensure that you’re making a smart investment. These factors include the condition of the property, the location and transport links, the local amenities and services, and the potential for capital growth.

Transport Links

Plumstead is a suburban area located in southeast London. The area is well connected to other parts of the city through a comprehensive transport network.

The primary mode of public transportation in Plumstead is the London Underground, with the area being served by the Woolwich Arsenal station on the DLR (Docklands Light Railway) line. This station provides residents with direct connections to the heart of London’s financial district in the City of London, as well as to other parts of the capital, including Bank, Stratford and Canary Wharf.

In addition to the DLR, the area is also served by several bus routes, including the 99, 177, 180, 244, 291, 380, 386 and 472. These bus routes connect residents of Plumstead with the surrounding areas, including Woolwich, Charlton, Greenwich and Bexleyheath.

For those who prefer to drive, Plumstead is conveniently located near the A206 and the A102 roads, which provide quick and easy access to the M25, the M11 and the A2. The area also has several large parking lots and street parking, making it easy for residents to park their cars.

In conclusion, Plumstead is an attractive option for potential landlords looking to invest in a buy-to-let property due to its competitive prices, wide range of residential properties, and excellent transport links. The area is served by the DLR, several bus routes, and is close to the major roads, providing residents with easy access to the rest of London. Additionally, the area is home to several major housing development projects, which will improve the quality of living in the area. With all these factors in mind, Plumstead is a great choice for those looking to invest in a buy-to-let property.

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