London house prices?

[The Moose]

housen said:

z4RRSchris said:

i did a £19m, £5.5m, £8.5m, £2m last month. woo

damn


u must be coining the brokerage on those

im in the wrong game

Out here in the US 5-6% is standard. Negotiated rates on more expensive properties, but even so!

[GetCarter]

z4RRSchris said:

i did a £19m, £5.5m, £8.5m, £2m last month. woo

Good old Russia, Saudi etc. the way to move/safeguard money.

IMHO of course, but generally, you can bet on it.

[z4RRSchris]

sadly I run sales for a developer, i'm "in house". so no commish. just salary + bonus.

Otherwise agents get 1.5-2% and the broker will take about 10/15% of that. Some properties i chuck a £10k bonus on for the broker who does the deal. so could be a huge commission.

[rah1888]

z4RRSchris said:

sadly I run sales for a developer, i'm "in house". so no commish. just salary + bonus.

Otherwise agents get 1.5-2% and the broker will take about 10/15% of that. Some properties i chuck a £10k bonus on for the broker who does the deal. so could be a huge commission.

Is that still the going rate? 1% has become the norm in our part of Surrey, occasionally managing 1.25%.

[The Moose]

rah1888 said:

z4RRSchris said:

sadly I run sales for a developer, i'm "in house". so no commish. just salary + bonus.

Otherwise agents get 1.5-2% and the broker will take about 10/15% of that. Some properties i chuck a £10k bonus on for the broker who does the deal. so could be a huge commission.

Is that still the going rate? 1% has become the norm in our part of Surrey, occasionally managing 1.25%.

I had agents tripping over themselves to offer me between 0.75 and 1% in my part of the UK (South Bucks) at the last quarter of 2016. Was amazed.

[p1stonhead]

rah1888 said:

z4RRSchris said:

sadly I run sales for a developer, i'm "in house". so no commish. just salary + bonus.

Otherwise agents get 1.5-2% and the broker will take about 10/15% of that. Some properties i chuck a £10k bonus on for the broker who does the deal. so could be a huge commission.

Is that still the going rate? 1% has become the norm in our part of Surrey, occasionally managing 1.25%.

Fairly typical on the high end.

[EJH]

Pretty much as others have said, I think it's:

- okay up to £1m
- Sticky between £1m and £1.5m and
- Quite difficult above that


There's also the ATED which came down to cover houses at £1m - £2m in 2015/16 and for houses over £2m - £5m is £23,350 a year; whilst this isn't utterly hateful at the top end of the bracket, it's more than 1% of the value as an additional tax at the bottom of the bracket. You're at 15% SDLT for the entire transaction meaning £300,000 SDLT versus an already pretty hateful £153,750 for the same £2m property bought by a natural person.

[Cheburator mk2]

My 6 yrs old was accepted at Alleyn's. Rather than subject her to a 40mins commute from Chislehurst, we started looking at the local market as we have plenty of equity in the house. Even Dulwich, which was the darling of S London (Clapham excepted) is awash with houses with multiple estate agents. All priced between 1.25 and 2. Went to see a number in the 1.75 range and we were urged to put in bids as low as 1.5 -1.6mm as "you never know, you may get hit" I read this as a "yes, they will hit your bid..." The same stock has been sitting on their books for months. I think if we are to put ours on the market, despite assurances from 4 different agents who came within 50k of each other, it would be the same story.

Lastly, I really don't feel like paying £100k in stamp duty. That would allow me to employ a 21-yrs old Italian blonde as a driver for a while and the purchase of a Maserati Quatroporte... Whether Mrs Cheb likes this is just semanthics...

Edited by Cheburator mk2 on Friday 10th February 15:05

[kiethton]

^^^^

You could always stay a bit more local - my old school is just down the road (Eltham College) and was perfectly good enough - well we beat them most years at Rugby and that's the only material measure of school quality in my book.

[AC43]

EJH said:

- okay up to £1m
- Sticky between £1m and £1.5m and
- Quite difficult above that

I still count my blessings every that I bailed out of the top end the week before Brexit and dropped right back into the lower end of the middle tier.

Volumes have slowed to trickle at the top end ever since.

One mate was on the brink of selling at the same time. Brexit killed the deal stone dead. He's had one serious in the eight months since which fortunately looks like it might be a good one.

Huge relief for him & his Mrs.

[Cheburator mk2]

kiethton said:

^^^^

You could always stay a bit more local - my old school is just down the road (Eltham College) and was perfectly good enough - well we beat them most years at Rugby and that's the only material measure of school quality in my book.

Eltham is great, and so is Bromley High where she also won a place. Alleyn's however is a whole different ballgame. But we are straying massively off-topic. I was just adding "evidence" that really the mkt in the 1.25-2 segment has slowed to a trickle.

[Croutons]

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

Did this happen?

[paralla]

z4RRSchris said:

nice flat, its got a garden and a share of freehold which will boost the price.

Lets wait and see on the land reg to see what it went for.

This just appeared in my My Stuff feed so thought I'd update the Vauxhall local old stock ceiling of "about £750/800 per square foot"

The flat linked to above still isn't listed with land registry so sold price is still unknown but there's a couple come to the market since then for similar money.

£1050
http://www.zoopla.co.uk/for-sale/details/43068518?...

£1025
http://www.zoopla.co.uk/for-sale/details/42823859?...

[housen]

paralla said:

z4RRSchris said:

nice flat, its got a garden and a share of freehold which will boost the price.

Lets wait and see on the land reg to see what it went for.

This just appeared in my My Stuff feed so thought I'd update the Vauxhall local old stock ceiling of "about £750/800 per square foot"

The flat linked to above still isn't listed with land registry so sold price is still unknown but there's a couple come to the market since then for similar money.

£1050
http://www.zoopla.co.uk/for-sale/details/43068518?...

£1025
http://www.zoopla.co.uk/for-sale/details/42823859?...

sorry are these good val ?

[paralla]

Not commenting on if they are good value or not, just that they are priced above z4RRSchris's supposed £750 - £800 per square foot ceiling for old stock in Vauxhall

[z4RRSchris]

they wont sell at that price.

anyway, done a deal today at 4200psf, and 3 more offered at over £3500psf.

[kingston12]

paralla said:

This just appeared in my My Stuff feed so thought I'd update the Vauxhall local old stock ceiling of "about £750/800 per square foot"

The flat linked to above still isn't listed with land registry so sold price is still unknown but there's a couple come to the market since then for similar money.

£1050
http://www.zoopla.co.uk/for-sale/details/43068518?...

£1025
http://www.zoopla.co.uk/for-sale/details/42823859?...

The first one sold for £512.5k only 11 months at according to Zoopla.

Either the owner is in financial trouble and has to sell it, or they bought it as an investment and are getting bored now growth is not double digit any more.

[Croutons]

kingston12 said:

The first one sold for £512.5k only 11 months at according to Zoopla.

Either the owner is in financial trouble and has to sell it, or they bought it as an investment and are getting bored now growth is not double digit any more.

Ouchy on the transaction costs!

[roadie]

paralla said:

£1050
http://www.zoopla.co.uk/for-sale/details/43068518?...

£1025
http://www.zoopla.co.uk/for-sale/details/42823859?...

That's crazy. When I moved to London fresh out of uni in 2005 I lived in a 3 bed flat in Bonnington Square. That must be worth an absolute fortune. To think it was all squatted at one time!

[paralla]

roadie said:

That's crazy. When I moved to London fresh out of uni in 2005 I lived in a 3 bed flat in Bonnington Square. That must be worth an absolute fortune. To think it was all squatted at one time!

My neighbours are probably your old neighbours, lots of the original squatters are still here as housing assosciation tennants.