I live on The Woodlands Estate by Plumstead Common. This and the surrounding areas are definitely the best areas of Plumstead, it's a plateau halfway up Shooters Hill, which contains Plumstead Common & Winns Common and in certain areas provides far-reaching views across the Thames to the East of London. The Commons are beautiful, surrounded by mature trees and make for a very enjoyable walking or recreation area.
We've made a considerable number of friends in the area (we've noticed it's very popular with Finnish people for some reason) and there is a good "community" feel.
Transport is acceptable, from most areas of Plumstead Common you can get to Woolwich Arsenal station in about 15 mins if everything goes smoothly.
The Woodlands Estate is served directly by the 291 bus, which generally runs okay. Woolwich Arsenal has very regular services, every 10 mins or so to London Bridge, Cannon Street, Waterloo East & Charring Cross; the line is served by South Eastern Railways which aren't the best when it comes to clean or on-time trains. A journey into the city will not take more than 40 - 50 mins, and there are fast trains, which will do it in half the time.
A huge benefit to the area is the DLR extension currently being built at Woolwich Arsenal. This will provide 20 min access to Canary Wharf and about 30 mins to Bank; it's already started and will be finished in 2008. This, if nothing else, will make the very reasonable house prices (for London) rocket. In addition, the huge Royal Arsenal regeneration is going in and around WA, again this will set prices heading upwards for the likes of Plumstead.
Although not fully approved there is also a new bridge across the Thames planned running from Thamesmead to Beckton, again another huge boon for the area.
Plumstead Common is well served for local shops; it has a selection on the Woodlands Estate (The Slade) and another set on Plumstead Common Road.
Pubs are present but at this moment in time the owners just haven't brought themselves up to date with the new blood coming into the area. They're all harmless but hardly inviting for people new to the area. They look run down, dirty and aggressive.
The ones looking out directly over Plumstead Common (The Prince Albert, The Old Mill) do themselves a great disservice, considering their enviable location, by having mottled glass windows and manky old curtains preventing you from seeing the interior; there is nothing more off-putting than not being able to judge a pub or bar before you step through the door! Both pubs have good outdoor seating for the summer though; you can watch the world go by on the common from The Prince Albert.
The Who'd A Thought It lets itself down by not managing the space outside the premises and letting people almost pile there cars on top of each other. In its favour it does great cheap food and serves a decent pint.
The Star is a good pub, probably the best of them all, presented very nicely but currently still very old fashioned. What Plumstead needs is a decent cafe or pub looking out over the beautiful common that realises the huge potential the area has. All the people new to the area (commuters) will flock to it.
All in all I would say Plumstead is good (around the Common anyway), it's popular with young families and is becoming increasing popular with commuters (the platform at Woolwich Arsenal is always rammed).
It's got its fair share of muppets on mopeds and chavvy little council kids but other than loitering around looking hard and throwing the odd egg at the 291 then it's fairly tame.
The same can't be said for the areas closer to Woolwich itself though, I've not experienced any problems directly nor do I know anyone who has but I have seen the police incident signs several times - but then this is the case in most parts of poor London, I believe. I wouldn't want to scare anybody but it's important to be honest. I imagine it's a case of trouble follows trouble so decent folk should be fine.
You can still buy a 3 bed terraced house with garden on a good street for £175k. Considering the reasonable transport and the nearby green open spaces I think this is remarkably cheap. From what I've seen on the Woodlands Estate people are starting to catch on to how popular the area is becoming with all the improvements it's undergoing - houses are selling all over the place.