London house prices?

[kingston12]

okgo said:

To be fair that is on the cusp, nobody living around there would use that station, and I have a few mates on the Victorian roads (Ellerton, Cotterill etc) there which have really nice houses, but all use Surbiton station as its a 5 min bus ride.

But yes, some seriously dreamy pricing there lol!

Interested to hear back on the Vauxhall stuff ha...

I was shocked at the price as well. When I was looking for an example, I thought that type of thing would be £500k rather than £700k even in this market. It is a long walk to Surbiton station from there, but I guess most people would do it like you say.

Ellerton and Cotterill are much better - nicer houses and genuine walking distance to Surbiton station. The prices are completely nuts, though. It wasn't that long ago you could pick a house up there for less than £350k.

[z4RRSchris]

Adam B said:

So take a random example:

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

Up for £1.5M which equates to £1370 sqft

Using your 800/sqft ceiling, will they be biting my hand off if I offer of the equivalent £870k ?

and you mention Riverlight specifically
http://www.zoopla.co.uk/new-homes/details/41439652...

£1.2M but using your 800 number it should be £634k

You know far more about this than me, but I don't understand your numbers - what am I missing?

Edited by Adam B on Wednesday 19th October 13:03

I'm talking second hand old stock is 750/800. New build like the first two you mention are completely fked in Vauxhall and you have to be an idiot to purchase or hold stock there.

The first is a new build - try selling that on the second hand market.
the second at riverlight i just call up JLL and they have a list as long as an elephants cock of resales who would take OPP.

Edited by z4RRSchris on Wednesday 19th October 14:44

[paralla]

Sounds like you are far more clued up on it than most, I agree the flood of new builds in the area will keep prices down. I quoted an estate agents valuation for mine, one that came and looked at it. Its not my opinion on what I think it's worth, It's what they said they would market it at if I wanted to sell it. I think its worth far less, I certainly wouldn't pay what they think its worth.

Again I accept there can be a massive difference between asking prices and sold prices but we have much easier access to asking prices than sold prices so that's what people go on.

Here's two properties in Vauxhall currently for sale well above your ceiling price for the area.

http://www.rightmove.co.uk/property-for-sale/prope...
£992/sqf

http://www.rightmove.co.uk/property-for-sale/prope...
£1070/sqf

[AstonZagato]

z4RRSchris said:

the second at riverlight i just call up JLL and they have a list as long as an elephants cock of resales who would take OPP.

OPP?

[scenario8]

AstonZagato said:

OPP?

Nothing to do with Naughty by Nature. I'd hope.

[p1stonhead]

AstonZagato said:

z4RRSchris said:

the second at riverlight i just call up JLL and they have a list as long as an elephants cock of resales who would take OPP.

OPP?

Off-plan purchase?

Edited by p1stonhead on Wednesday 19th October 15:18

[JiggyJaggy]

Think this is original purchase price?

[Adam B]

z4RRSchris said:

I'm talking second hand old stock is 750/800. New build like the first two you mention are completely fked in Vauxhall and you have to be an idiot to purchase or hold stock there.

the second at riverlight i just call up JLL and they have a list as long as an elephants cock of resales who would take OPP.

Not trying to trip you up but hang on - you specifically mentioned Riverlight which is a new development at 800

Don't worry I have no intention of buying in Vauxhall/9 Elms which looks horribly over-developed and will end up a tower block ghost town IMHO

So could you buy that £1.2M flat I linked for 800/sq ft for £634k - I just can't see it personally

Edited by Adam B on Wednesday 19th October 15:43

[p1stonhead]

Adam B said:

z4RRSchris said:

I'm talking second hand old stock is 750/800. New build like the first two you mention are completely fked in Vauxhall and you have to be an idiot to purchase or hold stock there.

the second at riverlight i just call up JLL and they have a list as long as an elephants cock of resales who would take OPP.

Not trying to trip you up but hang on - you specifically mentioned Riverlight which is a new development at 800

Don;t worry I have no intention of buying in Vauxhall/9 Elms which looks horribly over-developed and will end up a tower block ghost town IMHO

So could you buy that £1.2M flat I linked for 800/sq ft OPP for £634k - I just can't see it personally

No chance.

I know loads of people who would buy one if that were the case.

[z4RRSchris]

p1stonhead said:

Adam B said:

z4RRSchris said:

I'm talking second hand old stock is 750/800. New build like the first two you mention are completely fked in Vauxhall and you have to be an idiot to purchase or hold stock there.

the second at riverlight i just call up JLL and they have a list as long as an elephants cock of resales who would take OPP.

Not trying to trip you up but hang on - you specifically mentioned Riverlight which is a new development at 800

Don;t worry I have no intention of buying in Vauxhall/9 Elms which looks horribly over-developed and will end up a tower block ghost town IMHO

So could you buy that £1.2M flat I linked for 800/sq ft OPP for £634k - I just can't see it personally

No chance.

I know loads of people who would buy one if that were the case.

that flat the idiot has completed. You can buy off idiots who havent completed yet. which is half the scheme.

[p1stonhead]

z4RRSchris said:

p1stonhead said:

Adam B said:

z4RRSchris said:

I'm talking second hand old stock is 750/800. New build like the first two you mention are completely fked in Vauxhall and you have to be an idiot to purchase or hold stock there.

the second at riverlight i just call up JLL and they have a list as long as an elephants cock of resales who would take OPP.

Not trying to trip you up but hang on - you specifically mentioned Riverlight which is a new development at 800

Don;t worry I have no intention of buying in Vauxhall/9 Elms which looks horribly over-developed and will end up a tower block ghost town IMHO

So could you buy that £1.2M flat I linked for 800/sq ft OPP for £634k - I just can't see it personally

No chance.

I know loads of people who would buy one if that were the case.

that flat the idiot has completed. You can buy off idiots who havent completed yet. which is half the scheme.

But could you buy off the idiots for £800/sqft?

[z4RRSchris]

p1stonhead said:

z4RRSchris said:

p1stonhead said:

Adam B said:

z4RRSchris said:

I'm talking second hand old stock is 750/800. New build like the first two you mention are completely fked in Vauxhall and you have to be an idiot to purchase or hold stock there.

the second at riverlight i just call up JLL and they have a list as long as an elephants cock of resales who would take OPP.

Not trying to trip you up but hang on - you specifically mentioned Riverlight which is a new development at 800

Don;t worry I have no intention of buying in Vauxhall/9 Elms which looks horribly over-developed and will end up a tower block ghost town IMHO

So could you buy that £1.2M flat I linked for 800/sq ft OPP for £634k - I just can't see it personally

No chance.

I know loads of people who would buy one if that were the case.

that flat the idiot has completed. You can buy off idiots who havent completed yet. which is half the scheme.

But could you buy off the idiots for £800/sqft?

Yes. How about if i can find you a new build in riverlight for £800psf you pay me 5%?

[AC43]

croyde said:

Harry Flashman said:

And absolutely, buyers are nervous. London did not want Brexit, and most of us are worried about the future. Theresa May has openly said that people with mortgages/debt have had it too easy, intimating a rise in interest rates, or at least more restrictive lending. London is worried, and house sales will reflect that for a while.

Loans have been difficult to get for a while now. Makes me wonder who is buying when my own bank won't lend us £100,000 against a supposedly £1,000,000 house with only a £220,000 mortgage on it.

Have gone the various broker routes with no luck apart from one coming up with a 6% interest only remortgage.

First it was LTV restrictions and now it's all the affordability questions.

FWIW my last three sales have been to people with large incomes and plenty of assets from property sales or bonuses. A banker, a UK MD of an IT organisation and the owner of a legal recruitment business.

Still, Brexit has now put the mockers on the whole thing.

[p1stonhead]

z4RRSchris said:

p1stonhead said:

z4RRSchris said:

p1stonhead said:

Adam B said:

z4RRSchris said:

I'm talking second hand old stock is 750/800. New build like the first two you mention are completely fked in Vauxhall and you have to be an idiot to purchase or hold stock there.

the second at riverlight i just call up JLL and they have a list as long as an elephants cock of resales who would take OPP.

Not trying to trip you up but hang on - you specifically mentioned Riverlight which is a new development at 800

Don;t worry I have no intention of buying in Vauxhall/9 Elms which looks horribly over-developed and will end up a tower block ghost town IMHO

So could you buy that £1.2M flat I linked for 800/sq ft OPP for £634k - I just can't see it personally

No chance.

I know loads of people who would buy one if that were the case.

that flat the idiot has completed. You can buy off idiots who havent completed yet. which is half the scheme.

But could you buy off the idiots for £800/sqft?

Yes. How about if i can find you a new build in riverlight for £800psf you pay me 5%?

You said £800 is the max. So there should be loads for a lot less presumably?

[z4RRSchris]

p1stonhead said:

You said £800 is the max. So there should be loads for a lot less presumably?

i said 800psf is the max for second hand stock. which in your (or whoever it was) first post i assumed you were talking about.

You since alluded to the fact its a new build flat.

not sure what your getting at, old stock in vauxhall is 750/800 psf. new stock in vauxhall is whatever anyone is stupid enough to pay for it, but you can buy new build at 800psf also.

[paralla]

paralla said:

Sounds like you are far more clued up on it than most, I agree the flood of new builds in the area will keep prices down. I quoted an estate agents valuation for mine, one that came and looked at it. Its not my opinion on what I think it's worth, It's what they said they would market it at if I wanted to sell it. I think its worth far less, I certainly wouldn't pay what they think its worth.

I accept there can be a massive difference between asking prices and sold prices but we have much easier access to asking prices than sold prices so that's what people go on.

Here's two old properties in Vauxhall currently for sale well above your ceiling price for the area.

http://www.rightmove.co.uk/property-for-sale/prope...
£992/sqf

http://www.rightmove.co.uk/property-for-sale/prope...
£1070/sqf

[Adam B]

z4RRSchris said:

Yes. How about if i can find you a new build in riverlight for £800psf you pay me 5%?

If you are serious I and some friends will discuss, and happily pay you 5% if you can achieve 800/sq ft for flats similar to the one I tagged in Riverlight whether new or with recent owner

Edited by Adam B on Wednesday 19th October 20:21

[NomduJour]

Harry Flashman said:

I think that this may be due to being where you are - those prices more than doubled between 2008 and 2015 (a friend of mine sold his terrace a few streets from you last year). Seemed to be driven by a lot of folk selling flats in places like Clapham/Fulham and moving to your area as they could afford a house there from just selling a flat, and driving prices up perhaps excessively.

Friend of mine did just that - moved from off Clapham Common to the Tonsleys. Three-bed house there (minus basement flat) - high 400s to just over a million in about six years. Now killing himself on the commute from deepest Surrey.

[Harry Flashman]

Adam B said:

z4RRSchris said:

Yes. How about if i can find you a new build in riverlight for £800psf you pay me 5%?

If you are serious I and some friends will discuss, and happily pay you 5% if you can achieve 800/sq ft for flats similar to the one I tagged in Riverlight whether new or with recent owner

Edited by Adam B on Wednesday 19th October 20:21

Me too.

[AyBee]

Harry Flashman said:

Adam B said:

z4RRSchris said:

Yes. How about if i can find you a new build in riverlight for £800psf you pay me 5%?

If you are serious I and some friends will discuss, and happily pay you 5% if you can achieve 800/sq ft for flats similar to the one I tagged in Riverlight whether new or with recent owner

Me too.

+1 - you're going to be a rich man