How far will house prices fall [volume 5]
Discussion
princeperch said:
well if you asked Equus what he thought of that house he would probably say its a pokey house in a grubby s
t hole with a dirty great big shed on the roof.
in the meanwhile as someone that doesnt live a million miles from Wanstead (and in the same postcode) its a nice enough house but you could probably do better by buying further south into leytonstone and getting a much bigger garden and some decent stuff to do in the surrounding area..
Hi J,t hole with a dirty great big shed on the roof. in the meanwhile as someone that doesnt live a million miles from Wanstead (and in the same postcode) its a nice enough house but you could probably do better by buying further south into leytonstone and getting a much bigger garden and some decent stuff to do in the surrounding area..
I have to finish my renovation first though, still loads to do
How about the schools though? Being in Redbridge already, gives you a few better choices for schools I assumed?ooid said:
princeperch said:
well if you asked Equus what he thought of that house he would probably say its a pokey house in a grubby st hole with a dirty great big shed on the roof.
in the meanwhile as someone that doesnt live a million miles from Wanstead (and in the same postcode) its a nice enough house but you could probably do better by buying further south into leytonstone and getting a much bigger garden and some decent stuff to do in the surrounding area..
Hi J,t hole with a dirty great big shed on the roof. in the meanwhile as someone that doesnt live a million miles from Wanstead (and in the same postcode) its a nice enough house but you could probably do better by buying further south into leytonstone and getting a much bigger garden and some decent stuff to do in the surrounding area..
I have to finish my renovation first though, still loads to do
How about the schools though? Being in Redbridge already, gives you a few better choices for schools I assumed?the schools in E11 are generally good. My son will go to a good primary school round the corner from us, and one (which he probably wouldn't get into) is rated as outstanding. In terms of redbridge, i know that a few kids in our road go to a very highly rated school in wanstead, but tbh as nice as wansteadis, i find it a bit boring and suburban.
Visited some relatives in Wimbledon and there's loads of 3 bed + properties available to let for around £3k-4k per month standing empty (five alone down their road) which looks like sellers holding out after initially putting the properties on for sale and gaining no interest.
Noticed this one near to me went to Auction, a couple of years ago it would have made £500k+ easily but went for less than £400k which was quite surprising as it's a nice size (100ft garden, good location less than half an hour door to door to Central London).
https://www.rightmove.co.uk/property-for-sale/prop...
Noticed this one near to me went to Auction, a couple of years ago it would have made £500k+ easily but went for less than £400k which was quite surprising as it's a nice size (100ft garden, good location less than half an hour door to door to Central London).
https://www.rightmove.co.uk/property-for-sale/prop...
untakenname said:
Visited some relatives in Wimbledon and there's loads of 3 bed + properties available to let for around £3k-4k per month standing empty (five alone down their road) which looks like sellers holding out after initially putting the properties on for sale and gaining no interest.
Noticed this one near to me went to Auction, a couple of years ago it would have made £500k+ easily but went for less than £400k which was quite surprising as it's a nice size (100ft garden, good location less than half an hour door to door to Central London).
https://www.rightmove.co.uk/property-for-sale/prop...
Interesting - near me and these feature in my alerts - especially as one a few doors down came onto the market for £725k this week....https://www.rightmove.co.uk/property-for-sale/property-73996087.htmlNoticed this one near to me went to Auction, a couple of years ago it would have made £500k+ easily but went for less than £400k which was quite surprising as it's a nice size (100ft garden, good location less than half an hour door to door to Central London).
https://www.rightmove.co.uk/property-for-sale/prop...
Separately I'm currently in a flat <0.5m from the above and am looking at the next step, likely in c18m when I'm debt free - considering a wedding this weekend and what may be beyond something like this (and the general areas and better train line) appeals:
https://www.rightmove.co.uk/property-for-sale/prop... or https://www.rightmove.co.uk/property-for-sale/prop...
kiethton said:
Interesting - near me and these feature in my alerts - especially as one a few doors down came onto the market for £725k this week....https://www.rightmove.co.uk/property-for-sale/property-73996087.html
It will be interesting to see how much that one goes for in light of the £390k auction sale above.This one is in better condition overall, but it still isn't that good. It wouldn't cost that much to get the auction property in much better shape than the £725k house so would indicate a big profit if they get anywhere near that.
kingston12 said:
kiethton said:
Interesting - near me and these feature in my alerts - especially as one a few doors down came onto the market for £725k this week....https://www.rightmove.co.uk/property-for-sale/property-73996087.html
It will be interesting to see how much that one goes for in light of the £390k auction sale above.This one is in better condition overall, but it still isn't that good. It wouldn't cost that much to get the auction property in much better shape than the £725k house so would indicate a big profit if they get anywhere near that.
kiethton said:
The £725k is dreamland - they’re talking £550-600 as fair IMO
Ah, got it. I don't know the area but it did seem a bit higher than I would have expected.I remember an elderly relative lived in Orpington in a bungalow right by the station, but still with a really big garden. When she died and the valuations came in, I was surprised to see that it was worth not much more than a 1 bed flat in Surbiton, despite having a similar commute.
That was probably ten years ago and things seems to have equalised a lot since then.
kingston12 said:
kiethton said:
The £725k is dreamland - they’re talking £550-600 as fair IMO
Ah, got it. I don't know the area but it did seem a bit higher than I would have expected.I remember an elderly relative lived in Orpington in a bungalow right by the station, but still with a really big garden. When she died and the valuations came in, I was surprised to see that it was worth not much more than a 1 bed flat in Surbiton, despite having a similar commute.
That was probably ten years ago and things seems to have equalised a lot since then.
kiethton said:
Yeah Orpington/Petts Wood is great value IMO - parents live in the nice bit between the station and petts wood too - somewhere that is a 15 minute train to London Bridge, has grammar schools and decent size houses at current values its not too bad IMO, hence why I'm looking to move over in that direction. Although I prefer Beckenham (where I am now) being in the City the trains aren't ideal hence why i cycle/motorbike in
The trains are great from SE London/Kent, great choice of stations at the London end. Beckenham might not be quite as good as the mainline in that regard but still a lot better than coming from outer SW London/Surrey where you can only go into Waterloo. I walk from there and I don't mind it, but it does rather detract from the benefit of having really fast trains in!
I definitely agree it is good value there, but it has closed the gap somewhat over the past decade. Its hard to provide anything like an accurate assessment, but it's probably not too far aware to say that Orpington was about 60% of the price of Surbiton back then and is now more like 80-85%.
I'm not sure averages would bear that out because, as you say, Orpington retains a lot of good-sized houses where as most of Surbiton is flats now.
Taylor James said:
I don't think I'll ever be able to get my head around £1M for a house like that with no garage and a pokey garden that's overlooked on every side. It would be just my luck to have nosey neighbours. I'd feel like a fish in an aquarium.
Richmond is like that. Only the houses are more money and the gardens smaller. But Richmond. MrJuice said:
Taylor James said:
I don't think I'll ever be able to get my head around £1M for a house like that with no garage and a pokey garden that's overlooked on every side. It would be just my luck to have nosey neighbours. I'd feel like a fish in an aquarium.
Richmond is like that. Only the houses are more money and the gardens smaller. But Richmond. NickCQ said:
MrJuice said:
Taylor James said:
I don't think I'll ever be able to get my head around £1M for a house like that with no garage and a pokey garden that's overlooked on every side. It would be just my luck to have nosey neighbours. I'd feel like a fish in an aquarium.
Richmond is like that. Only the houses are more money and the gardens smaller. But Richmond. kingston12 said:
Even earlier when Heathrow forget they are not supposed to be flying at night.
Tell me about it. I am directly under final. Houses on my street, loft converted and with side return done, 1.2 - 1.4 asks but looks like they're nit shifting given the amount of extension work going on.Having been trying to move for 21 months with a number of reasons why we haven’t, to,Oreos we complete so the journey is over.
A few observations from a typical lovely English village in the SE UK:
Some estate agent are complete tts and I struggle to see how some still breath when they are asleep
Solicitors delay the proceedings to justify their fees and can be somewhat frustrating
Houses that were on the market 18 months ago and are now finally selling are now being offered around 20% cheaper than their original asking price. Silly offers are being accepted and that’s exactly what we did on an already reduced asking price some £200,000 less than when we viewed it 4 months ago.
Houses that aren’t selling are because the owners are still living in cuckoo land and whilst they ignore the downturn in the market they won’t sell.
It’s bloody emotional and tiring selling and buying a house in the UK, I really don’t think it should be.
Roll on tomorrow when we can finally relax a bit.
A few observations from a typical lovely English village in the SE UK:
Some estate agent are complete t
ts and I struggle to see how some still breath when they are asleepSolicitors delay the proceedings to justify their fees and can be somewhat frustrating
Houses that were on the market 18 months ago and are now finally selling are now being offered around 20% cheaper than their original asking price. Silly offers are being accepted and that’s exactly what we did on an already reduced asking price some £200,000 less than when we viewed it 4 months ago.
Houses that aren’t selling are because the owners are still living in cuckoo land and whilst they ignore the downturn in the market they won’t sell.
It’s bloody emotional and tiring selling and buying a house in the UK, I really don’t think it should be.
Roll on tomorrow when we can finally relax a bit.
Sale and purchase of residential property in England is the thin end of an antiquated and unjust system of land ownership. Incredible that no fully public registry of ownership exists. Incredible that no system exists of indefeasible title on production of a title certificate. Incredible that 1000 years after being conquered the descendents of the conquerors still hold 30 per cent of England's lands. Incredible that owner occupied residential freehold is only 5 per cent of England's land. It's like a barmy post colonial African state.
HoHoHo said:
Solicitors delay the proceedings to justify their fees and can be somewhat frustrating
I think almost the opposite is true - plain vanilla conveyancing fees have been bid down so low by competition (given it's a commoditised product) that most firms are understaffed and so can't act in a timely manner.Hands up who's had a conveyancer go on 'holiday' during their sale / purchase? My suspicion is that this is rubbish and they use it as a smokescreen to triage workload around more urgent transactions that are exchanging / completing that week.
https://www.rightmove.co.uk/property-for-sale/prop...
I often wonder what the old cockneys and eastenders from 100 years or so ago would say if they took a walk round the manor now and saw these houses ( albeit knocked about a bit) going for 1.6 big ones.
I often wonder what the old cockneys and eastenders from 100 years or so ago would say if they took a walk round the manor now and saw these houses ( albeit knocked about a bit) going for 1.6 big ones.
B210bandit said:
Sale and purchase of residential property in England is the thin end of an antiquated and unjust system of land ownership. Incredible that no fully public registry of ownership exists. Incredible that no system exists of indefeasible title on production of a title certificate. Incredible that 1000 years after being conquered the descendents of the conquerors still hold 30 per cent of England's lands. Incredible that owner occupied residential freehold is only 5 per cent of England's land. It's like a barmy post colonial African state.
Do you really buy into this st? What barriers to entry are there?Gassing Station | News, Politics & Economics | Top of Page | What's New | My Stuff