London house prices?

[okgo]

Rollin said:

So there's people in London earning 'good money' so they can live in that tiny Kingston house? fk me that's depressing.

Why is it depressing?

[MajorProblem]

mgtony said:

Rollin said:

So there's people in London earning 'good money' so they can live in that tiny Kingston house? fk me that's depressing.

That's a pretty little house, now this is depressing:

http://www.rightmove.co.uk/property-for-sale/prope...

Thought the price was a typo, but on with another agent here with a couple more pics!

http://www.rightmove.co.uk/property-for-sale/prope...

There is no way on planet earth that anyone thinks that house is worth living in, especially at that price.

[gibbon]

anonymous said:

[redacted]

Exactly, a family member would quite like to trade down from a circa 3.5m house to reduce some debt, say you trade 'down' to 2.75m to reduce debt by 750k, you would pay 250k stamp for the privilege, never mind all the other costs! Loosing 33%+ of the trade due to tax? Madness, hence that market is completely static and no one is moving. The stamp duty changes i believe, wont make the government more money, it will cost them, and is a very ill thought out policy, creating far more problems than it solves.

I understand this is a problem that effects such a tiny percentage of the population it will gain no public sympathy or cares, and the people who find themselves in this situation are on the whole incredibly fortunate, but its a problem non the less.

[Rollin]

okgo said:

Rollin said:

So there's people in London earning 'good money' so they can live in that tiny Kingston house? fk me that's depressing.

Why is it depressing?

Probably the wrong choice of word . I just think it's a bit sad that someone who has achieved a good enough education/ degree/ training etc to be earning 'good money' (£100K? ) ending up coming home to perhaps a worse house than they did when at Uni.

I realise that it may turn out to be a good investment, but you'll still have to live in it.

I also understand the attractions of London and having it all on your doorstep (or maybe an hour away in the case of Kingston?). I've a lot of friends who live there but sadly can't partake as much as they'd like due to lack of money after rent/mortgage is paid.

I suppose if there's 2 of you on decent money, you can aspire to the 3 bed ex crack den in E17

[Ali2202]

We're just back from visiting Friends in London. They've been there for 8 years.

He & She are quite clearly pedaling like absolute buggery just to stand still. I love them loads but they're under the delusion that London is the be-all and end-all (''property prices here are so high because the rest of the World wants to live here''.... ).It Is NOT True!.

They have a staff of 8 in a small office and are getting completely walloped with overheads from all angles.

Had a bit of a verbal dust-up with him over it all after some beers. He's essentially not happy but his ego is in charge. Won't let his crew work from home (App developers) and he talks soooo much corporate ste I eventually had to go for the metaphorical throat over it. He listened and later almost agreed.....but he's addicted and convinced he'll end up better off. Hope he does but what is the point if you're a slave renting a stey wee flat for £2K P.M in Clapham?

Did a calc. on for him earlier this week. Unsustainable unless he gets very lucky...and one doesn't have to be in London to get lucky. Ask me!

Love him I do though. The deluded fool.

[scenario8]

Minor point of order; it certainly feels like the whole World wants to live here (in London). From memory around 40% were born abroad. Goodness, isn't London the sixth largest French city (by populace)?

Other than that, cool story bro, etc.

[Justayellowbadge]

MajorProblem said:

mgtony said:

Rollin said:

So there's people in London earning 'good money' so they can live in that tiny Kingston house? fk me that's depressing.

That's a pretty little house, now this is depressing:

http://www.rightmove.co.uk/property-for-sale/prope...

Thought the price was a typo, but on with another agent here with a couple more pics!

http://www.rightmove.co.uk/property-for-sale/prope...

There is no way on planet earth that anyone thinks that house is worth living in, especially at that price.

Awful pics and any character has been excised internally, but these Victorian terraces are fundamentally cracking houses. High ceilings, 1200 sq Ft and huge potential to extend.

They are, in the main, infinitely more desirable than anything built in the last few decades.

[Dromedary66]

Almost £1,000,000 to live in Walthamstow. Sickening.

I live in NW9 postcode and that represents better value for money in my opinion . One zone up and slightly longer on the tube and for that you'd get a similar/better house for half that.

[MajorProblem]

Totally agree, however if you put it back to how it should be you're looking at a lot of money, remove render, point brickwork, wooden sash windows, tiles, floorboards, fireplaces, mosaic hallway? Then if the rest of your street doesn't give a st, what's the point?

Plus £1m + all in

[Burwood]

anonymous said:

[redacted]

At least the house is presentable. The above dump is fit for vermin. Seriously surprised me. What a st tip.to let a place get to that

[Justayellowbadge]

Burwood said:

At least the house is presentable. The above dump is fit for vermin. Seriously surprised me. What a st tip.to let a place get to that

Really?

It's uninspiring, but looks reasonably together, bland, yes, but hardly vermin ready. Bathroom looks recent, rest just needs paint. Pebbledash has to go.

[jdw1234]

Justayellowbadge said:

MajorProblem said:

mgtony said:

Rollin said:

So there's people in London earning 'good money' so they can live in that tiny Kingston house? fk me that's depressing.

That's a pretty little house, now this is depressing:

http://www.rightmove.co.uk/property-for-sale/prope...

Thought the price was a typo, but on with another agent here with a couple more pics!

http://www.rightmove.co.uk/property-for-sale/prope...

There is no way on planet earth that anyone thinks that house is worth living in, especially at that price.

Awful pics and any character has been excised internally, but these Victorian terraces are fundamentally cracking houses. High ceilings, 1200 sq Ft and huge potential to extend.

They are, in the main, infinitely more desirable than anything built in the last few decades.

I don't understand why new build house don't copy the Victorian/Edwardian terrace layout.

[gibbon]

Its also nearly 2300 sq ft.

I dont really understand the meteoric rise of Walthamstow, well, thats not true, i understand it, i just think its over cooked and over rated, and not for me, but that is not a bad price per sq ft really.

[scenario8]

jdw1234 said:

Justayellowbadge said:

MajorProblem said:

mgtony said:

Rollin said:

So there's people in London earning 'good money' so they can live in that tiny Kingston house? fk me that's depressing.

That's a pretty little house, now this is depressing:

http://www.rightmove.co.uk/property-for-sale/prope...

Thought the price was a typo, but on with another agent here with a couple more pics!

http://www.rightmove.co.uk/property-for-sale/prope...

There is no way on planet earth that anyone thinks that house is worth living in, especially at that price.

Awful pics and any character has been excised internally, but these Victorian terraces are fundamentally cracking houses. High ceilings, 1200 sq Ft and huge potential to extend.

They are, in the main, infinitely more desirable than anything built in the last few decades.

I don't understand why new build house don't copy the Victorian/Edwardian terrace layout.

Well I suppose the modern buyer expects things like en-suite bathrooms, kitchen/diners, upstairs bathrooms, internal bathrooms! and so on. Traditional terraces frequently have tiny bathrooms and kitchens (and third or fourth bedrooms). Commonly the ceilings are high, of course (in most rooms) but there's plenty of scope for improvement in the standard layouts. Improvements that many have enjoyed by now.

Not that I'm going to pretend that all or many new builds aren't without fault!

[CornishRob]

This thread is making me smile a bit. But maybe i should be crying!

I guess me and my girlfriend are one of the mad people who choose to live in the areas being discussed. SW London/Surrey area.

We were renting a flat in Surbiton for about 1.5 years before we decided to buy. It was a small ground floor flat, with a small garden out of the front. We paid £1300/month for that, and it was very small. I do love Surbiton though, some great pubs and really quick into London. When we moved out, there were two offers on the table from new tenants for full asking rent of £1450.

We decided to buy around this time last year and started looking, but Surbiton was too expensive really for us. Our rental flat was actually for sale for £400k when we left. The one next door was also for sale, but was much larger and was £650k. Too much for us!

We decided to move slightly further out, and initially got an offer accepted on a very small house in Esher, but then it fell through and we found the house we now have in Hersham/Walton area. I had to make a few compromises, but ended up with a nice victorian house, which needs a little work. Cost us £415k in the end.

This was mine and my girlfriends first house, which when you consider how much we spent is eye watering. But we are close to the train station and can be in Waterloo in 30 mins, or Wimbledon in 15, so great socially. Its also got good road links, and close to major airports, so positioned well. Every person my age (both below 30) want to buy, so there is massive demand still, despite the costs. I have friends who are just trying to find a place at the moment. They have a budget of around £330, and might be able to get a 1-2 bed flat in the same area, which is criminal.

Basically as much as everyone says they don't want to live here, a huge amount of people do. It one of the best cities in the world and i do really enjoy it despite the costs.

[jdw1234]

scenario8 said:

jdw1234 said:

Justayellowbadge said:

MajorProblem said:

mgtony said:

Rollin said:

So there's people in London earning 'good money' so they can live in that tiny Kingston house? fk me that's depressing.

That's a pretty little house, now this is depressing:

http://www.rightmove.co.uk/property-for-sale/prope...

Thought the price was a typo, but on with another agent here with a couple more pics!

http://www.rightmove.co.uk/property-for-sale/prope...

There is no way on planet earth that anyone thinks that house is worth living in, especially at that price.

Awful pics and any character has been excised internally, but these Victorian terraces are fundamentally cracking houses. High ceilings, 1200 sq Ft and huge potential to extend.

They are, in the main, infinitely more desirable than anything built in the last few decades.

I don't understand why new build house don't copy the Victorian/Edwardian terrace layout.

Well I suppose the modern buyer expects things like en-suite bathrooms, kitchen/diners, upstairs bathrooms, internal bathrooms! and so on. Traditional terraces frequently have tiny bathrooms and kitchens (and third or fourth bedrooms). Commonly the ceilings are high, of course (in most rooms) but there's plenty of scope for improvement in the standard layouts. Improvements that many have enjoyed by now.

Not that I'm going to pretend that all or many new builds aren't without fault!

Sorry, I mean as extended as the majority are in London (how many terrace houses in south west London still don't have an internal loo?)

Ie wrap around side return resulting in big kitchen diner, original first floor master bedroom with ensuite, loft conversion with pod bathroom.

The basic layout, detailing and ceiling height are what people actually want and they are space effecient.

The new builds that were made on Broomhouse Road round the corner from Aragon House are a good example of modern interpretations of Victorian terraces.

[Adam B]

Rollin said:

okgo said:

Rollin said:

So there's people in London earning 'good money' so they can live in that tiny Kingston house? fk me that's depressing.

Why is it depressing?

Probably the wrong choice of word . I just think it's a bit sad that someone who has achieved a good enough education/ degree/ training etc to be earning 'good money' (£100K? ) ending up coming home to perhaps a worse house than they did when at Uni.

I realise that it may turn out to be a good investment, but you'll still have to live in it.

but the alternative may be living in (making this up) Liverpool and making £50k instead, which gets you a slightly big place than the £100k in Kingston, but the weathers crap and you are in Liverpool not near London!

Whilst it would be lovely to live in a 4 bed detached house with a garage, many young people don't have kids and value the buzz and facilities of London - their home is somewhere they crash after work, and huge space isn't a priority over location

[jdw1234]

It's depressing if you compare it to a large house in the country, but not if you compare it to a city flat.

[jonah35]

I think they will keep going up, up, up and up.

I have nothing to do with London nor do I own anything there and I live in the north.

That being said every graduate ends up in London, most jobs are there, it is where immigrants tend to want to go, it is where tourists go and so on.

I'm surprised London house prices aren't higher to be honest.

[bigandclever]

There was an interesting (ish, your mileage may vary) bit in the Standard last night ...

benefit of hindsight said:

Londoners who sold a home each year for the last 20 years could have made over £1m in profit, a study shows.
An analysis has revealed how homeowners in the capital could have made huge profits by simply selling up and buying again every year since 1995.
By shrewdly purchasing in the capital’s hottest local market each year they would have turned an initial £50,000 into almost £1.2 million, even after taxes and the cost of moving.