How far will house prices fall [volume 4]
Discussion
gibbon said:
That looks a lovely house, and nicely done, great value i think. The little park behind is actually quite nice, as is the small gallery and cafe.
The reason its 'cheap' is how far down mile end road it is. The further you get, the cheaper it gets, its also close to the railway line, anything backing onto a railway will be down 10-15% i'd think. No big deal though really.
Blimey, the house is sold already! Talked to the agents, and had a good offer and purchased immediately. Looks like really value properties being snatched immediately... Bad thing of course, I did not even have a chance to arrange viewing properly with the agent!! The reason its 'cheap' is how far down mile end road it is. The further you get, the cheaper it gets, its also close to the railway line, anything backing onto a railway will be down 10-15% i'd think. No big deal though really.
https://www.keatons.com/property-details/9735-wrex...
kingston12 said:
Strangely enough, a UPS delivery meant I had to walk up there for the second time in all the years I have lived in Surbiton tonight!
The house looks quite good in itself and is still mainly surrounded by other similar ones (all converted into flats but at least keeping the look of the original houses). The rest is just complete vandalism - there must have been even more fraud and dirty deeds amongst developers and councillors to get that lot through back in the 60s/70s than there is now.
The worst thing is that it has set the precedent for today's developments. There is a massive mansion at the end of that road which is totally derelict, no doubt waiting while some greedy developer seeks planning approval the most overly dense replacement possible.
The remaining houses up there are even better/grander than I remember, but the level of destruction is much worse.
The irony is that one of the concrete 70's blocks is named for the original developer of Surbiton as a new town in the mid-1800s. It must have been fantastic then, god knows what he would think if he saw it now.
Some real sThe house looks quite good in itself and is still mainly surrounded by other similar ones (all converted into flats but at least keeping the look of the original houses). The rest is just complete vandalism - there must have been even more fraud and dirty deeds amongst developers and councillors to get that lot through back in the 60s/70s than there is now.
The worst thing is that it has set the precedent for today's developments. There is a massive mansion at the end of that road which is totally derelict, no doubt waiting while some greedy developer seeks planning approval the most overly dense replacement possible.
The remaining houses up there are even better/grander than I remember, but the level of destruction is much worse.
The irony is that one of the concrete 70's blocks is named for the original developer of Surbiton as a new town in the mid-1800s. It must have been fantastic then, god knows what he would think if he saw it now.
t up there eh. I used to live in Oakhill Lodge, which is between the old doctors and the house we are talking about above, quite a nice block. That stheap oppo is a disgrace. When I was there 10 years ago all of those newly renovated (which were all done at the same time, someone had a few quid!) mansions were all basically split into rooms and there were a lot of undesirables up there, probably about 50 people living in some of the big houses.A mate of mine sold a 2 bed in the one oppo the doctors for £410k at the peak a few years back, he couldn't believe it
- it has been back on recently for less than that...A guy I know who has a prop dev firm looked at the big one by the path, but it wasn't a goer for some reason, shame as it really is substantial.
ooid said:
gibbon said:
That looks a lovely house, and nicely done, great value i think. The little park behind is actually quite nice, as is the small gallery and cafe.
The reason its 'cheap' is how far down mile end road it is. The further you get, the cheaper it gets, its also close to the railway line, anything backing onto a railway will be down 10-15% i'd think. No big deal though really.
Blimey, the house is sold already! Talked to the agents, and had a good offer and purchased immediately. Looks like really value properties being snatched immediately... Bad thing of course, I did not even have a chance to arrange viewing properly with the agent!! The reason its 'cheap' is how far down mile end road it is. The further you get, the cheaper it gets, its also close to the railway line, anything backing onto a railway will be down 10-15% i'd think. No big deal though really.
https://www.keatons.com/property-details/9735-wrex...
Sheepshanks said:
I'm usually amazed by the how much space there is inside very ordinary looking London houses, but that one is bordering on tiny. Must be quite depressing that it's regarded as a bargain and has been snapped up.
1100 sq ft?Hardly palatial but hardly tiny.
Its all relative i guess, but at around £725 sq ft and well done, its good value in this market. Hence its sold.
I'm not really seeing your point here - as Gibbon said, look at £/square foot.
On the house itself, these smaller Victorian houses are everywhere in the country - from the traditional mine workers' terraces you see all over the north to dockworkers' housing in the east of London. The Victorians weren't famous for being overly generous to the working classes, and I'm sure 750 square feet was deemed more than enough for a working man to raise a family with 4 kids...
On the house itself, these smaller Victorian houses are everywhere in the country - from the traditional mine workers' terraces you see all over the north to dockworkers' housing in the east of London. The Victorians weren't famous for being overly generous to the working classes, and I'm sure 750 square feet was deemed more than enough for a working man to raise a family with 4 kids...
Harry Flashman said:
I'm not really seeing your point here - as Gibbon said, look at £/square foot.
On the house itself, these smaller Victorian houses are everywhere in the country - from the traditional mine workers' terraces you see all over the north to dockworkers' housing in the east of London. The Victorians weren't famous for being overly generous to the working classes, and I'm sure 750 square feet was deemed more than enough for a working man to raise a family with 4 kids...
It's an observation, rather than a point. Normally someone posts up a terraced house in London and it'll look nothing from the outside, but inside will somehow have surprising space and scale. That one hasn't. On the house itself, these smaller Victorian houses are everywhere in the country - from the traditional mine workers' terraces you see all over the north to dockworkers' housing in the east of London. The Victorians weren't famous for being overly generous to the working classes, and I'm sure 750 square feet was deemed more than enough for a working man to raise a family with 4 kids...
mike74 said:
Good to see yet another highly competent and well informed LL who is fully conversant with their legal and financial obligations and doesn't have to rely on asking strangers on the internet even the most basic of queries.
It's not the most basic of questions though is it? As the sdlt surcharge isn't that straightforward. I'm guessing that the barbed response is more to do with the fact he's a btl landlord rather than the question itself.okgo said:
Some real st up there eh. I used to live in Oakhill Lodge, which is between the old doctors and the house we are talking about above, quite a nice block. That stheap oppo is a disgrace. When I was there 10 years ago all of those newly renovated (which were all done at the same time, someone had a few quid!) mansions were all basically split into rooms and there were a lot of undesirables up there, probably about 50 people living in some of the big houses.
A mate of mine sold a 2 bed in the one oppo the doctors for £410k at the peak a few years back, he couldn't believe it - it has been back on recently for less than that...
A guy I know who has a prop dev firm looked at the big one by the path, but it wasn't a goer for some reason, shame as it really is substantial.
Yep, I remember hearing that Oakhill went that way for a while. I remember years ago the junction at the bottom of Cranes Park had all of the houses owned by a Polish slum landlord and there was trouble around there. You only have to go back 25 years and the Maple Road area was very much bedsit land.t up there eh. I used to live in Oakhill Lodge, which is between the old doctors and the house we are talking about above, quite a nice block. That stheap oppo is a disgrace. When I was there 10 years ago all of those newly renovated (which were all done at the same time, someone had a few quid!) mansions were all basically split into rooms and there were a lot of undesirables up there, probably about 50 people living in some of the big houses.A mate of mine sold a 2 bed in the one oppo the doctors for £410k at the peak a few years back, he couldn't believe it
- it has been back on recently for less than that...A guy I know who has a prop dev firm looked at the big one by the path, but it wasn't a goer for some reason, shame as it really is substantial.
I'm not sure what happened in the interim to turn it from sought after and quite flashy Victorian suburb into that, but I suppose it was WW2 followed by decades of council corruption. A shame as a lot of what does remain is quite special.
It is repeated all over outer London, but I can't think of another example quite so bad. There are still quite a lot of quite grand houses stuck in roads of flats, a few others on the market at the moment:
http://www.rightmove.co.uk/property-for-sale/prope...
http://www.rightmove.co.uk/property-for-sale/prope...
http://www.rightmove.co.uk/property-for-sale/prope...
Who knows whether they'll get the money, but one that almost certainly will follows on the theme of a few others I have posted on here:
http://www.rightmove.co.uk/property-for-sale/prope...
If that hasn't sold by this time next week, it really will be an indication that the market has turned in this area.
kingston12 said:
http://www.rightmove.co.uk/property-for-sale/prope...
If that hasn't sold by this time next week, it really will be an indication that the market has turned in this area.
I thought this had already sold. Not that keen on Surbiton otherwise I'd offer 1.1 tops!If that hasn't sold by this time next week, it really will be an indication that the market has turned in this area.
Sheepshanks said:
Harry Flashman said:
I'm not really seeing your point here - as Gibbon said, look at £/square foot.
On the house itself, these smaller Victorian houses are everywhere in the country - from the traditional mine workers' terraces you see all over the north to dockworkers' housing in the east of London. The Victorians weren't famous for being overly generous to the working classes, and I'm sure 750 square feet was deemed more than enough for a working man to raise a family with 4 kids...
It's an observation, rather than a point. Normally someone posts up a terraced house in London and it'll look nothing from the outside, but inside will somehow have surprising space and scale. That one hasn't. On the house itself, these smaller Victorian houses are everywhere in the country - from the traditional mine workers' terraces you see all over the north to dockworkers' housing in the east of London. The Victorians weren't famous for being overly generous to the working classes, and I'm sure 750 square feet was deemed more than enough for a working man to raise a family with 4 kids...
I thought this had already sold. Not that keen on Surbiton otherwise I'd offer 1.1 tops!
[/quote]
There was one on the market three doors down that sold for £1.1m a few months ago.
I can't work our whether this one is number 5 which sold for £1.1m back in 2016 or not, but either way it looks like it is on the market now.
[quote=fido]
Not that keen on Surbiton otherwise I'd offer 1.1 tops!
[/quote]
I really like (that part of) Surbiton, and I don't think I'd go to £1.1m for it. IIRC you are a bit further into town, so I guess that makes it look a bit cheaper comparativly.
Edited by kingston12 on Wednesday 20th June 18:35
fido said:
kingston12 said:
http://www.rightmove.co.uk/property-for-sale/prope...
If that hasn't sold by this time next week, it really will be an indication that the market has turned in this area.
I thought this had already sold. Not that keen on Surbiton otherwise I'd offer 1.1 tops!If that hasn't sold by this time next week, it really will be an indication that the market has turned in this area.
Should demolish all that and open it all up, Would be a much lovelier place to be.
The mix of flats and houses are also confusing to the communities identity (from a visitor perspective, may not be the case?), makes it more living in a flat type place rather than families.
Edited by hyphen on Wednesday 20th June 21:02
hyphen said:
Problem with those properties is that they are near the river, but don't have a river feel along that stretch. It is all taken up by businesses, plus a huge water works iirc.
Should demolish all that and open it all up, Would be a much lovelier place to be.
They tried to do that a few years ago and build floating homes on the site. It was turned down as judged to be too greedy, not sure why they didn’t try again when the last Council was in, it would have been waved through no problem.Should demolish all that and open it all up, Would be a much lovelier place to be.
I’ve noticed some tidying up going on there in the past couple of weeks, perhaps they are going to have another go at it.
I’m not sure I’d want to be actually on the river there anyway, the road is too busy, and as you cross the border into Elmbridge it is just an industrial estate.
hyphen said:
The mix of flats and houses are also confusing to the communities identity (from a visitor perspective, may not be the case?), makes it more living in a flat type place rather than families.
It’s a bit strange in that way. It is a flat dominated area, but there are still quite a lot of houses. The primary school at the top of this road is so oversubscribed that only kids living in the roads directly surrounding can get in. The house price bubble has meant that there are a lot of families with kids living in the flats now. I have lived here years, and I don’t really remember that happening up until about 2012/13, it was almost all singles and couples (in the flats) up until then. The houses have always been more mixed, some families, some older people when I moved here, but now definitely more youngish families.
It’s not the classic family suburb like Berrylands or New Malden, but there are some similarities.
Edited by kingston12 on Sunday 1st July 23:26
Recently sold our house in a SE commuter town for a full asking price of £345k after only being on the market over a weekend. Another house sold for £350k four months prior but had a nice new bathroom and nicer garden. It had also been for sale quite a while too.
The estate agent says that if he were to market it now he’d recommend a starting price £25k less which would have been a bit rubbish for us moving on. Im really sceptical and thought it could be EA bullst to make us feel good but similar houses have been reduced £20-40k.
The estate agent says that if he were to market it now he’d recommend a starting price £25k less which would have been a bit rubbish for us moving on. Im really sceptical and thought it could be EA bulls
t to make us feel good but similar houses have been reduced £20-40k. anonymous said:
[redacted]
I bought my rental in 2013. It's achieved +15% - mind you there was quite alot of price movement between those two years - and he may have paid well over the market to get it. In fact there seems to be plenty of property sitting on the market at 2015/6 prices and vendors wanting even more than they paid for it .. jog on!Edited by fido on Monday 2nd July 09:26
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