How far will house prices fall [volume 4]

[z4RRSchris]

hyphen said:

London Mayor in Guardian today heavily criticising the approach to affordable housing in the Boris era.

Has done a report saying 65% of new housing should be affordable/shared ownership, expected that this will be implemented as a 50% requirement.

Wants to build less penthouses in the city, and more homes in the suburbs.

yet as he says this he has told all the developers 35% and he wont challenge it.

[z4RRSchris]

anonymous said:

[redacted]

106's and CIL are light all over the board. battersea have a £200m bill for the tube.

[hyphen]

Will be interesting to see the housing side of Hammond's budget. Lots of councils, the housing Minister and Mayor of London all demanding the ability to borrow more money to build. May is also keen to help.

[Tuna]

hyphen said:

London Mayor in Guardian today heavily criticising the approach to affordable housing in the Boris era.

Has done a report saying 65% of new housing should be affordable/shared ownership, expected that this will be implemented as a 50% requirement.

Wants to build less penthouses in the city, and more homes in the suburbs.

I wonder how long the Mayor will continue to blame Boris for everything?

He continues to make large public promises whilst privately delivering almost nothing of real substance. It's remarkable the population are being so tolerant of him.

[98elise]

Tuna said:

hyphen said:

London Mayor in Guardian today heavily criticising the approach to affordable housing in the Boris era.

Has done a report saying 65% of new housing should be affordable/shared ownership, expected that this will be implemented as a 50% requirement.

Wants to build less penthouses in the city, and more homes in the suburbs.

I wonder how long the Mayor will continue to blame Boris for everything?

He continues to make large public promises whilst privately delivering almost nothing of real substance. It's remarkable the population are being so tolerant of him.

Labour still blame Thatcher for most things, so give it about 25 years

[TheLordJohn]

I'm surprised the mayor has time to look at housing. I thought record levels of crime would be keeping him busy.

[Angrybiker]

98elise said:

Tuna said:

hyphen said:

London Mayor in Guardian today heavily criticising the approach to affordable housing in the Boris era.

Has done a report saying 65% of new housing should be affordable/shared ownership, expected that this will be implemented as a 50% requirement.

Wants to build less penthouses in the city, and more homes in the suburbs.

I wonder how long the Mayor will continue to blame Boris for everything?

He continues to make large public promises whilst privately delivering almost nothing of real substance. It's remarkable the population are being so tolerant of him.

Labour still blame Thatcher for most things, so give it about 25 years

They'll be blaming and demonising her for the next 25 as well I'm sure, so I'd say 50 years to be safe!

[Cheburator mk2]

Finally a bit of a price movement on one of the houses that we are still considering... Had a phone call from the agent telling me they have chopped off £150k off the asking, would I be interested... Will let them stew over it... House has been on since March at £1,495mm. Lots and lots of potential, but also a MAJOR project. Also, unfortunately for the seller, there is an identical house further up the street - story was the street was developed by two brothers, who build themselves the only two detached houses - which is on for £1,799 and is not shifting. Just done up to a very high standard.

[Chris Type R]

Down the road from us:

Added to RM 13 Nov 2016 at £3,750,000 - http://www.rightmove.co.uk/property-for-sale/prope...

Relisted 20 Oct 2017 at £2,500,000 - http://www.rightmove.co.uk/property-for-sale/prope...

Edited by Chris Type R on Tuesday 31st October 16:26

[Super Slo Mo]

Do prices at that end of the market really have much influence down in the part of the world where most of us can afford to buy?
My recent research of small flats and starter houses around the east side of London (and into Kent) suggests the market is reasonably healthy. Maybe there'll be a trickle down effect at some point.

[alfaman]

Chris Type R said:

Down the road from us:

Added to RM 13 Nov 2016 at £3,750,000 - http://www.rightmove.co.uk/property-for-sale/prope...

Relisted 20 Oct 2017 at £2,500,000 - http://www.rightmove.co.uk/property-for-sale/prope...

Edited by Chris Type R on Tuesday 31st October 16:26

Expensive for bedfordshire ( ..used to live there)- and quite quirky.

How many buyers are there for a 10k Sq foot house in bedrorshire which is a bit of an odd build / odd layout / seems to lack natural light?

At that price point wouldn’t buyers prefer more of a normal / classical ‘country house’ / estate? ... am thinking the developer could have made it into some nice apartments ...

[Sheepshanks]

Chris Type R said:

Down the road from us:

Added to RM 13 Nov 2016 at £3,750,000 - http://www.rightmove.co.uk/property-for-sale/prope...

Relisted 20 Oct 2017 at £2,500,000 - http://www.rightmove.co.uk/property-for-sale/prope...

Says "new home" - has it ever been lived in? Wonder if the developer went bust.

[Chris Type R]

I don't think it's been lived in, in its current form.

[Chris Type R]

alfaman said:

Expensive for bedfordshire ( ..used to live there)- and quite quirky.

How many buyers are there for a 10k Sq foot house in bedrorshire which is a bit of an odd build / odd layout / seems to lack natural light?

At that price point wouldn’t buyers prefer more of a normal / classical ‘country house’ / estate? ... am thinking the developer could have made it into some nice apartments ...

It's Beds/Herts borders. Probably 1.5 miles from North Herts. Still not a desirable location, and quite close to the a1m. I'd be surprised if it sells at 2.5. It's an odd one.

[nikaiyo2]

Chris Type R said:

Down the road from us:

Added to RM 13 Nov 2016 at £3,750,000 - http://www.rightmove.co.uk/property-for-sale/prope...

Relisted 20 Oct 2017 at £2,500,000 - http://www.rightmove.co.uk/property-for-sale/prope...

Edited by Chris Type R on Tuesday 31st October 16:26

Still needs £300,000 spending to de footballerise it.

[Tango13]

Chris Type R said:

alfaman said:

Expensive for bedfordshire ( ..used to live there)- and quite quirky.

How many buyers are there for a 10k Sq foot house in bedrorshire which is a bit of an odd build / odd layout / seems to lack natural light?

At that price point wouldn’t buyers prefer more of a normal / classical ‘country house’ / estate? ... am thinking the developer could have made it into some nice apartments ...

It's Beds/Herts borders. Probably 1.5 miles from North Herts. Still not a desirable location, and quite close to the a1m. I'd be surprised if it sells at 2.5. It's an odd one.

Have to agree with Chris about the location, I'd say it was the wrong side of the A1.

RAF Henlow will be closing soon(ish) so there will be an explosion in house building all along the A507, maybe even to the point where Stotfold and Arlesey join up.

There's also a very small chance the A1 could be upgraded into the A1(M) all the way up to Biggleswade so you'd have motorway to the East, a vast housing estate to the South and West and a wind farm to the North.

I'd be spending my £2.5m elsewhere.

[Angrybiker]

nikaiyo2 said:

Chris Type R said:

Down the road from us:

Added to RM 13 Nov 2016 at £3,750,000 - http://www.rightmove.co.uk/property-for-sale/prope...

Relisted 20 Oct 2017 at £2,500,000 - http://www.rightmove.co.uk/property-for-sale/prope...

Edited by Chris Type R on Tuesday 31st October 16:26

Still needs £300,000 spending to de footballerise it.

I'm not sure, looks like they did it all to a very high standard. I wouldn't want all that glass and I'd change a few bits but I can't see an obvious 300k.. I am in love with the water wheel and the mechanics and the 10k sqft, my word it's a palace!. But 2.5m for that location does seem a bit rich.

[Casa1862]

Tango13 said:

RAF Henlow will be closing soon(ish) so there will be an explosion in house building all along the A507, maybe even to the point where Stotfold and Arlesey join up.
.

We could be getting this

http://www.forces.net/news/raf/raf-henlow-could-be...

[limpsfield]

Shnozz said:

Even more amusing when you know the real background on some of those waving said willies.

I think I know what you are getting at here, and concur.

[matrignano]

Can I have some advice on leasehold vs freehold for central London flats?

Am I right in thinking that, as a 1st time buyer, I'm better off going for a leasehold with at least 90 years remaining?
My reasoning is that I would likely not keep the property for more than 5-10 years, and therefore it would not be worth paying the premium for a freehold (vs. an equivalent leasehold flat)? Also leasehold service charges seem to be much lower on a comparable basis?