London house prices?
Discussion
Chichester road is my road. I like it here. Most of the new arrivals in the road have moved from bethnal green/bow/hackney/islington, so it was inevitable that prices were going to go up...
They are normal houses but if you can get hold of one of the ones that has the big back extension by the side return, some of them are nudging 900/950 sq ft so they are a reasonable size. And the lofts are also a decent size and lend themselves well to conversion.
Prices still are rising here, some of these houses are now on for high 400s low 500s..
They are normal houses but if you can get hold of one of the ones that has the big back extension by the side return, some of them are nudging 900/950 sq ft so they are a reasonable size. And the lofts are also a decent size and lend themselves well to conversion.
Prices still are rising here, some of these houses are now on for high 400s low 500s..
princeperch said:
gibbon said:
I would no way be selling that.
In leytonstone decent 2 bed free holds start about 450 now, but some go a bit higher. A very crap looking 1 bed has just sold on my street for 310 but it did have a garage at the back of it.
There is a lot of odd prices being achieved here too, such as this sort of thing
http://www.rightmove.co.uk/property-for-sale/prope...
(Which is really a 2 bed)
Nearly half a million for that?! It would struggle to make 50k here.
princeperch said:
Chichester road is my road.
There used to be a really nice MGB GT V8 parked in your road a fair few years ago. British Racing Green if I remember rightly. 
I should be moving back to Leytonstone around February or March time, quite looking forward to it, although I'm not sure if some of it will be a culture shock or not.
k-ink said:
Foreign investment has died. Mortgages and bonuses down. 41k new flats coming on the market next year priced over £1m, which will be impossible to sell. Once a development falters and the banks foreclose it will be a turning point. A correction is on the way.
Holy s
t. So, who knows, maybe £50 billion quids worth of new capital ... next year ... into the million plus new build sector ... in one city. What could possibly go wrong?Any idea what the developers' break even price would be?
NewNameNeeded said:
Agreed, but not so sure they are crazy. I grew up in a tiny village in Derbyshire and moved to London about a decade ago. It took a long time to accept the prices of property in London and to join in the madness. Prices have continued to rise in that time though. Our last place (3 bed semi) went up in value 50% in under 3 years without any significant spend on it, sold in under a week of going on to the market, from one single open house event, and those buying from us were first time buyers.
Whereabouts?the example of the mental rental market in London I always use is the 5 bedroom detached house in 1 acre of land on the outskirts of Buxton that I could rent for 20% less than the 1 bed flat I was then renting in Islington.
EJH said:
I can’t but help agree with this…but would add Lewisham to the list as well. Overground to London Bridge, DLR to Canary Wharf / Bank and (eventually) the Bakerloo extension (maybe).
Blackheath was never that cheap but has got considerably more expensive in the last 18 months (and estate agents’ definitions of Blackheath have become more broad, including the east side of the A2 which isn’t really Blackheath) and Deptford has changed beyond recognition (with plans to change similarly in the next few years as well).
These are the thoughts of someone who has spent the last 18 months looking for a house (with garage) in SE London…
Agreed - I bought a 4 bed house in Blackheath with a garage back in 2012. It needed modernisation (kitchen, bathrooms, decoration, etc) so was slightly under market but comparable houses are now selling for double what I paid. Blackheath was never that cheap but has got considerably more expensive in the last 18 months (and estate agents’ definitions of Blackheath have become more broad, including the east side of the A2 which isn’t really Blackheath) and Deptford has changed beyond recognition (with plans to change similarly in the next few years as well).
These are the thoughts of someone who has spent the last 18 months looking for a house (with garage) in SE London…
I have also recently bought a B2L flat in Lewisham - I think this area has got real legs. They are pouring millions into redeveloping the centre. A quick look at the local plan shows they are serious about changing the town for the better.
mgtony said:
Each year you think they can't get any higher, they just keep going up.
I knew we couldn't be far from a 3 bed semi near me in E17 reaching the £1million mark, and spotted this last night:
http://www.zoopla.co.uk/for-sale/details/39033434?...
Not exactly the pristine victorian house you'd expect for that budget! Seems like they got a deal on a job-lot of radiators!!
Jesus, that's grim.I knew we couldn't be far from a 3 bed semi near me in E17 reaching the £1million mark, and spotted this last night:
http://www.zoopla.co.uk/for-sale/details/39033434?...
Not exactly the pristine victorian house you'd expect for that budget! Seems like they got a deal on a job-lot of radiators!!
I don't understand why people flog their selves to death to pay for a s
t hole like that in London.It would be one of the last places I'd chose to live.
Zoon said:
Jesus, that's grim.
I don't understand why people flog their selves to death to pay for a st hole like that in London.
It would be one of the last places I'd chose to live.
One reason would be the likelihood that over the next decade your house may well pay you about 100k a year to live in it.I don't understand why people flog their selves to death to pay for a s
t hole like that in London.It would be one of the last places I'd chose to live.
Hackney said:
IATM said:
It actually blows my mind that there are people crazy enough to spend that much money on some of the rubbish properties available in london
We've just started looking at what;s out there with a view to moving in Aug / Sept next year.We live in Harrow at the moment and need 2 bed, but would like 3 bed. It's soul destroying. My wife and I both have good jobs and are putting together a reasonable deposit.
Having said that we're looking further and further out, at some pretty ropey looking properties. There's just nothing for normal people on normal salaries!
There's a lot of development going on near us, so I've looked at the websites.
"one bed properties from £450,000"
"studios from £350,000" etc, etc, etc
And these are places in Colindale, Edgware not Notting Hill or Knightsbridge.
I think you are a prime example of this.
can I ask why not move completely to a different area not even close to London?
R8Steve said:
princeperch said:
gibbon said:
I would no way be selling that.
In leytonstone decent 2 bed free holds start about 450 now, but some go a bit higher. A very crap looking 1 bed has just sold on my street for 310 but it did have a garage at the back of it.
There is a lot of odd prices being achieved here too, such as this sort of thing
http://www.rightmove.co.uk/property-for-sale/prope...
(Which is really a 2 bed)
Nearly half a million for that?! It would struggle to make 50k here.
k-ink said:
Foreign investment has died.
Has it though? Within the past couple of weeks I saw an article which said that foreign purchasers are buying up prime brand-new property and sitting on it, in the expectation that they will get a premium price for it (as well as the general rise) on the basis that it has never been lived in. LOTS of it going on apparently. IATM said:
Well this was always my assumption, I understand prices in London are going to be higher but they are disproportionately ompared to the salaries available in the city.
I think you are a prime example of this.
can I ask why not move completely to a different area not even close to London?
Yeh but he said "me and my wife have good jobs" so it must all be fine.I think you are a prime example of this.
can I ask why not move completely to a different area not even close to London?
IATM said:
R8Steve said:
princeperch said:
gibbon said:
I would no way be selling that.
In leytonstone decent 2 bed free holds start about 450 now, but some go a bit higher. A very crap looking 1 bed has just sold on my street for 310 but it did have a garage at the back of it.
There is a lot of odd prices being achieved here too, such as this sort of thing
http://www.rightmove.co.uk/property-for-sale/prope...
(Which is really a 2 bed)
Nearly half a million for that?! It would struggle to make 50k here.
It's up for less than that dated monstrosity listed previously that's not even that near to London. Fair enough properties up here won't increase in value as much as the London ones but they also cost a massive amount less like for like and come with a lot less risk of falling in price.
I just don't see how it's sustainable. Everyone in London can't be making high 6/7 figure salaries to afford those properties.
Fair play to the ones that have got in early though!
R8Steve said:
I just struggle to see how i would scale up my career to a level where i would see any benefit. For example after a very quick search - http://www.rightmove.co.uk/property-for-sale/prope...
It's up for less than that dated monstrosity listed previously that's not even that near to London. Fair enough properties up here won't increase in value as much as the London ones but they also cost a massive amount less like for like and come with a lot less risk of falling in price.
I just don't see how it's sustainable. Everyone in London can't be making high 6/7 figure salaries to afford those properties.
Fair play to the ones that have got in early though!
Its definitely a case of get in early (and its not too late in some places), work your plums off then move steadily further away as you get older and take that equity with youIt's up for less than that dated monstrosity listed previously that's not even that near to London. Fair enough properties up here won't increase in value as much as the London ones but they also cost a massive amount less like for like and come with a lot less risk of falling in price.
I just don't see how it's sustainable. Everyone in London can't be making high 6/7 figure salaries to afford those properties.
Fair play to the ones that have got in early though!
R8Steve said:
I just don't see how it's sustainable. Everyone in London can't be making high 6/7 figure salaries to afford those properties.
This is the one thing I say to my wife that I just can't understand. So many houses are selling (& quickly) at these high prices, Leytonstone must be rammed with City traders, entrepreneurs and all round wealthy people. iain014 said:
R8Steve said:
I just struggle to see how i would scale up my career to a level where i would see any benefit. For example after a very quick search - http://www.rightmove.co.uk/property-for-sale/prope...
It's up for less than that dated monstrosity listed previously that's not even that near to London. Fair enough properties up here won't increase in value as much as the London ones but they also cost a massive amount less like for like and come with a lot less risk of falling in price.
I just don't see how it's sustainable. Everyone in London can't be making high 6/7 figure salaries to afford those properties.
Fair play to the ones that have got in early though!
Its definitely a case of get in early (and its not too late in some places), work your plums off then move steadily further away as you get older and take that equity with youIt's up for less than that dated monstrosity listed previously that's not even that near to London. Fair enough properties up here won't increase in value as much as the London ones but they also cost a massive amount less like for like and come with a lot less risk of falling in price.
I just don't see how it's sustainable. Everyone in London can't be making high 6/7 figure salaries to afford those properties.
Fair play to the ones that have got in early though!
CAPP0 said:
Has it though? Within the past couple of weeks I saw an article which said that foreign purchasers are buying up prime brand-new property and sitting on it, in the expectation that they will get a premium price for it (as well as the general rise) on the basis that it has never been lived in. LOTS of it going on apparently.
I know lots of it was going on. Which is why price rose out of all proportion in London. The domestic market wasn't pushing it at all. According to a top developer foreign investment has come to a trickle. Supply and demand will sort this out.I don't care if the market halves or doubles as we own outright in greater London. Actually I prefer a crash for the future generations.
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