London house prices?

[CAPP0]

Hackney said:

Because London only has Nando's or Westfields - I'm not from London but I can use and apostrophe and spell, imagine that!. I fail to see your point from that though.
What does London have that appeals? To the tourist - and who goes to see a "star" of Two Pints of Lager Funny Girl or any other show but a tourist? - or to someone who's lived there for twenty years?

If you think only London can offer those things then you're the one who's seriously lacking imagination.

Why would I want to see Sasha or Digweed in London in any month, it'll be a horrendous rip off! (especially when I saw them at Shelley's in Stoke on Trent and Renaissance in Mansfield.
Of course there are certain things that London will get first, but does that outweigh the benefits of other cities? No.

PS Will your 7yo care if he / she doesn't see Star Wars in 70mm?
Does your Leica shop have a website?

Sorry but when you read the emboldened piece and then get your red pen out for the rest of the post…..

[SELON]

z4RRSchris said:

it's about 65,000 over next 3-5 years.

nine elms has about 25k alone. Greenwich 15k, Canary Wharf 22k etc etc etc

Are you saying Greenwich has 15,000 £1m+ new builds coming on tap in the next 3-5 years? Just to confirm my understanding...

[z4RRSchris]

no it's not. I'm talking about new build "PCL" and "Fringe PCL"

I have no idea about other peoples pricing, and only have a visibility on sub 500 units and my general market knowledge.

are developers building flats they won't be able to sell? yes.

does this only extend to £1m + units? no.

[SELON]

They'll be able to sell them. The price might not be the full asking price when that capacity comes on stream, but there is a real need for housing still that doesn't seem to be going away anytime soon. So -50% off asking price doesn't seem likely assuming they are in the £400 to £500 bracket. There is a lot of buyer demand from local people that can't get on the ladder due to the overseas investors. When the overseas investors go, then the local demand should pick up the pieces. There may well be a (welcome) dip, but -50%, not so sure.

I'm more concerned over the quality of these places being built. In years to come they might be viewed as the millennial equivalent of the 50s/60s tower blocks.

[Adam B]

An interesting topic for people in London, but as usual it attracts the anti-Londoners who can't seem to resist moaning about London house prices and how they hate city life, even though neither impacts them.

Why is it so hard for people to grasp that some people enjoy life in London?

If someone started a thread about property prices in Norfolk or Yorkshire I'd wager you wouldn't get a bunch of London folk jumping in complaining at the lack of nightlife, art facilities and the lower wages.

V8RX7 said:

As always it depends what you want.

I want:

Peace and quiet / privacy
To be able to do what I want, when I want - IE work on my cars, play loud music
Space for my dogs, kids and toys - cars, bikes, jet skis
Open country roads for driving fun
But close enough to a town for shopping, hospitals etc

I have never been in a Michelin restaurant as I'm not into food, nor a theatre, opera or ballet.

I don't like watching sport either - I like doing it.

My sister lived in London, when I visited her I couldn't understand why - but she had to be in London as she was a solicitor and the best jobs were there - she later moved to Oz.

Hence I agree that the only reason to be in London must be for work as it has nothing there that I desire, Londoners are welcome to it and I'll stay in my 3000 ftsq house in the countryside, garaging for 12 cars, 5 acres etc for the same price as a 3 bed semi in a secondary part of London.

Just picking V8 as an example (nothing personal, just an example).

Why do you start off by saying "it depends what you want" (nail on head) and then continue you cannot understand why your sister lived in London?
I totally understand the appeal of where you live and its advantages, why don't you under and that some don't find that appealing or find other factors outweigh them.

I don't want acres of land, I like visiting the countryside but to me that would just be a PITA to maintain.
I don't have pets as we both work so it wouldn't be fair.
I don't want garaging for 12 cars, I only have one.

I have a (to me) very nice 5 bed terraced Victorian house, it is a nice vibrant area (not "crime-ridden") and I love the fact that in my doorstep I have two large commons, nice cafes and restaurants, great bars, and easy access to work and all the arts and events in central London.

One day I will move out to Surrey or similar and buy a bigger place free of mortgage, but it will be with mixed feelings, sacrificing not being in London and easier commute for bigger house, bit more financial security and cheaper child care or other half not working.

Just accept some people prefer country / small town life and others prefer London life

Edited by Adam B on Friday 1st January 20:56

[Adam B]

Busa mav said:

I was born and raised in London , south west London , Putney.

Royal parks a mile away ,Putney and Wimbledon commons a mile away, the Thames even closer, mainline railway and underground just 200 yards away , and a bus in every direction at regular intervals from the high street.

London living doesn't get any better imho, want a show or a day out sight seeing , then what can be better.

We moved out to leafy Royal Berkshire to buy a larger house, now just 60 minutes in the car , 40 minutes by train into Paddington, I have a large house , an acre of land and no neighbours, perfection In my eyes.

Hi Busa Mav

Whereabouts in Putney and Berkshire? Brought up in Berks and have been in various parts of Putney for 20 years and just moved to Wandsworth, got a ridiculous price for my Putney "penthnouse" due to the crazy URR developments which made mine look cheap, shame what has happened although I guess the 70s office blocks were worse. Hopeful got out at right time, and think Wandsworth will continue to flourish given Ram Brewery development and riverside, plus changes to traffic flow and badly needed pedestrianisation of the High Street.

Edited by Adam B on Friday 1st January 20:45

[Busa mav]

Lived in Charlwood Road as a youngster and went to Hotham primary school, then we moved halfway up Putney hill , just off of Gwendolene Avenue , I wish I knew what they would be worth nowadays .

Trivia , I went swimming the first day that Putney swimming pool opened

Used to play on the bomb sites in the area, that was great fun , lots of them around at the time near the Upper Richmond Road due to its proximity to the railway, a bit like some of the northern towns look nowadays

Spent most of my childhood playing by the Thames, building dams or cycling across Putney or Wimbledon commons , great place to be then .

Edited by Busa mav on Friday 1st January 22:06

[jmsgld]

If you can, buy now, London is the cheapest it will ever be, credit is cheap and your rent will likely be more than the mortgage repayments, and it's so much nicer to have your own place where you can do what you want.

We moved out to the countryside a couple of years ago and love it, however we do miss certain things, mostly food, culture etc.

London is head and shoulders above any other city in the UK for both food and culture, anyone who disagrees is kidding themselves.

[z4RRSchris]

london is the most expensive it will ever be,

mortgage payments are cheap, but rental yields are shot to bits.

you can rent for much cheaper than you can buy.

[ClaphamGT3]

z4RRSchris said:

london is the most expensive it will ever be,

mortgage payments are cheap, but rental yields are shot to bits.

you can rent for much cheaper than you can buy.

The second two statements are, in certain segments, correct but the first is, in my view, rather wide of the mark.

Prime central London is already coming down quite noticeably, both in terms of unit prices and, tellingly, what developers are bidding for sites but that is only one market segment. I think that we are going to see momentum yet

[delta0]

z4RRSchris said:

london is the most expensive it will ever be,

mortgage payments are cheap, but rental yields are shot to bits.

you can rent for much cheaper than you can buy.

I've always found buying much cheaper than renting. Especially once you've owned it a few years and the equity rises.

[V8RX7]

Adam B said:

Why is it so hard for people to grasp that some people enjoy life in London?

If someone started a thread about property prices in Norfolk or Yorkshire I'd wager you wouldn't get a bunch of London folk jumping in complaining at the lack of nightlife, art facilities and the lower wages.

V8RX7 said:

As always it depends what you want.

I want:

Peace and quiet / privacy
To be able to do what I want, when I want - IE work on my cars, play loud music
Space for my dogs, kids and toys - cars, bikes, jet skis
Open country roads for driving fun
But close enough to a town for shopping, hospitals etc

I have never been in a Michelin restaurant as I'm not into food, nor a theatre, opera or ballet.

I don't like watching sport either - I like doing it.

My sister lived in London, when I visited her I couldn't understand why - but she had to be in London as she was a solicitor and the best jobs were there - she later moved to Oz.

Hence I agree that the only reason to be in London must be for work as it has nothing there that I desire, Londoners are welcome to it and I'll stay in my 3000 ftsq house in the countryside, garaging for 12 cars, 5 acres etc for the same price as a 3 bed semi in a secondary part of London.

Just picking V8 as an example (nothing personal, just an example).

Why do you start off by saying "it depends what you want" (nail on head) and then continue you cannot understand why your sister lived in London?

I totally understand the appeal of where you live and its advantages, why don't you under and that some don't find that appealing or find other factors outweigh them.

I don't want acres of land, I like visiting the countryside but to me that would just be a PITA to maintain.
I don't have pets as we both work so it wouldn't be fair.
I don't want garaging for 12 cars, I only have one.

I have a (to me) very nice 5 bed terraced Victorian house, it is a nice vibrant area (not "crime-ridden") and I love the fact that in my doorstep I have two large commons, nice cafes and restaurants, great bars, and easy access to work and all the arts and events in central London.

One day I will move out to Surrey or similar and buy a bigger place free of mortgage, but it will be with mixed feelings, sacrificing not being in London and easier commute for bigger house, bit more financial security and cheaper child care or other half not working.

Just accept some people prefer country / small town life and others prefer London life

My point - and I have no idea how you missed it - was that I cannot understand why people wish to live in a large city other than because their job is there.

I have yet to see a post by anyone who lives in London and works in Yorkshire for example and most seem to move out when they either grow older, have children, change jobs or retire.

You say you can understand where I live and it's advantages - and that's the point - I cannot understand, if you don't work in London - why you would want to live there.

The argument about other large UK cities doesn't stack up because with few exceptions you are not paying such a premium to live there.

I once met a lovely girl who wanted to be beaten, burnt and cut - I couldn't understand her either but I'd still be interested to hear her explain - as I am with Londoners - they just seem to be easily offended.

When you say maintaining acres is a PITA - I understand that point of view but I enjoy it and I don't get offended.

[delta0]

V8RX7 said:

My point - and I have no idea how you missed it - was that I cannot understand why people wish to live in a large city other than because their job is there.

I have yet to see a post by anyone who lives in London and works in Yorkshire for example and most seem to move out when they either grow older, have children, change jobs or retire.

You say you can understand where I live and it's advantages - and that's the point - I cannot understand, if you don't work in London - why you would want to live there.

The argument about other large UK cities doesn't stack up because with few exceptions you are not paying such a premium to live there.

I once met a lovely girl who wanted to be beaten, burnt and cut - I couldn't understand her either but I'd still be interested to hear her explain - as I am with Londoners - they just seem to be easily offended.

When you say maintaining acres is a PITA - I understand that point of view but I enjoy it and I don't get offended.

I used to work outside of London and live in London. The commute was amazing with empty roads going away from London in the morning and coming back in the evening. I did a 40 mile commute in less than 45 minutes. I now work in London. There are a lot of jobs in London so it does make sense that the majority of people in living and around London would work in London. I think the life you get in London well surpasses that you get anywhere else in the UK. Having lived in a good range of cities, towns and villages I wouldn't swop any of them for London.

[Adam B]

V8RX7 said:

My point - and I have no idea how you missed it - was that I cannot understand why people wish to live in a large city other than because their job is there.

I have yet to see a post by anyone who lives in London and works in Yorkshire for example and most seem to move out when they either grow older, have children, change jobs or retire.

You say you can understand where I live and it's advantages - and that's the point - I cannot understand, if you don't work in London - why you would want to live there.

The argument about other large UK cities doesn't stack up because with few exceptions you are not paying such a premium to live there.

I once met a lovely girl who wanted to be beaten, burnt and cut - I couldn't understand her either but I'd still be interested to hear her explain - as I am with Londoners - they just seem to be easily offended.

When you say maintaining acres is a PITA - I understand that point of view but I enjoy it and I don't get offended.

Where did I say I was offended? I just expressed surprise that country people cannot accept some other people have different tastes and preferences that lead them to enjoy living in London, not just work. You seem to be one of them.

And I did list some reasons but you seemed to have ignored them. I will try again, as others have done above: great bars, nightlife, the art facilities, the comprehensive public transport network, the restaurants, the buzz of the place, its cosmopolitan nature and mixture of cultures, the lack of small town mentality.

Of course work dictates to a large degree where you live, as quality of life is severely impacted by a long commute. If I worked in Cambridge or Bristol I wouldn't live in London.

"I have yet to see a post by anyone who lives in London and works in Yorkshire" - er what a shocker!

If my numbers came up I would buy a nice flat somewhere in Central London and a big house someone not too far out in a more rural location. I would then probably spend the week in the flat and the weekend in the country house. If I worked in Yorkshire I would have the same but spend some weekends in London.

Edited by Adam B on Saturday 2nd January 15:50

[z4RRSchris]

ClaphamGT3 said:

The second two statements are, in certain segments, correct but the first is, in my view, rather wide of the mark.

Prime central London is already coming down quite noticeably, both in terms of unit prices and, tellingly, what developers are bidding for sites but that is only one market segment. I think that we are going to see momentum yet

I think the falls in PCL will drive everything else down. I know of developments by the big boys where you can now get 30% off asking.

[Adam B]

z4RRSchris said:

I think the falls in PCL will drive everything else down. I know of developments by the big boys where you can now get 30% off asking.

presume that is big flat developments like Vauxhall? do you think that will have much of an impact on very different segments like family Victorian houses?

[ClaphamGT3]

z4RRSchris said:

ClaphamGT3 said:

The second two statements are, in certain segments, correct but the first is, in my view, rather wide of the mark.

Prime central London is already coming down quite noticeably, both in terms of unit prices and, tellingly, what developers are bidding for sites but that is only one market segment. I think that we are going to see momentum yet

I think the falls in PCL will drive everything else down. I know of developments by the big boys where you can now get 30% off asking.

I'm not quite so convinced. I think that in some just-off PCL developments, you'll see some of that but I don't see it becoming a trend. I think we'll see more institutional acquisitions and we'll see the odd developer catch a real cold as flaky appraisals/compromised product/marginal locations get found out but the London market as a whole is too fragmented and, in too many of those fragments, high performing to see trended downward pressure on values

[AyBee]

Adam B said:

z4RRSchris said:

I think the falls in PCL will drive everything else down. I know of developments by the big boys where you can now get 30% off asking.

presume that is big flat developments like Vauxhall? do you think that will have much of an impact on very different segments like family Victorian houses?

There's a development in Putney near me that first offered to pay the stamp duty as a Black Friday deal - that offer is still there, but then it is a c.£900k 2-bed

[Justayellowbadge]

Has this been mentioned before? Mapped LR prices.

http://house.briskat.com/

Useful little tool. The filters allow you to choose new build or older properties, lease or freehold etc, so you can get an idea of how different sectors are selling.

[Adam B]

AyBee said:

There's a development in Putney near me that first offered to pay the stamp duty as a Black Friday deal - that offer is still there, but then it is a c.£900k 2-bed

pfff bargain http://www.rightmove.co.uk/new-homes-for-sale/prop...