Pros?
‘Within Tower Hamlets, the vast majority of properties have belonged or do belong to the council. You can find some really nice little estates tucked away, quite often with a few generations of families still all in a local vicinity, or people who have grown up together still living there. Ex-local authority (XLA) flats or houses are generally a very good size as they were designed to cater for fairly large families. You also find that most XLA buildings or estates are well located for public transport. Prices for these properties are increasing steadily all the time; they are good for both buy-to-let clients as well as first-time buyers.'
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Cons?
‘You are likely be living in a high-density housing area, possibly with social problems and big groups of kids hanging around. You may or may not have a council-owned flat next door to you, and it’s impossible to predict whether you’ll have good or bad neighbours. It’s a bit hit-and-miss.’
Is it a good investment?
‘It’s the best option in the East End. The majority of XLA flats are 1960s-1970s and many people consider them ‘ugly’ buildings. They might not be the prettiest in comparison to the rows of period houses, but it means they are way more affordable. That said, prices in Tower Hamlets have been soaring over recent months, so I would advise people to start looking now.’
Where are the best XLA places to live in the East End?
‘There’s a lot going on here. Bethnal Green is more lively than Bow and is near all the bars in Shoreditch as well as the park. For me, the
best areas within the E2 postcode are in and around Victoria Park. The communities seem to have been together longer, so you get a genuinely friendly atmosphere. If you walk around those areas and particularly the estates, you find, in comparison to some other areas, they are well maintained with flower beds, with less graffiti and more trees.’
What to look out for
‘Keep an eye out for graffiti. The less graffiti and the more foliage, the likelier the estate is to be well maintained. It also means there are probably fewer kids hanging aroundcausing trouble. If possible, chat to other residents too; you have to feel good if you are going to be in an area for at least two years. Walk around the area, get a real feeling of the place. The more time you spend there, the better.’
First-hand facts
‘I had my doubts about ex-council, but we ended up staying for three years. We were one of the few non-council residents there, but our neighbours were nice, quiet families and the stairs and court were always kept clean and tidy. The best thing, though, was the location. Because council estates were built all over London, we ended up living really affordably in Bloomsbury.’ Amy Magor, 27, audiologist
