The Three Little Pigs Posted October 14, 2008 Author Share Posted October 14, 2008 (edited) Robert Green of John D Wood in this months RICS report. "Since mid-September there has been an increase in viewings and offers. This is mainly related to the market for properties available below £1m in price, which is seeing most activity." Bobby, I think they might be kicking your tyres Edited October 14, 2008 by The Three Little Pigs Quote Link to comment Share on other sites More sharing options...
The Three Little Pigs Posted October 16, 2008 Author Share Posted October 16, 2008 Flat 22, Candlemakers Apartments, 112 York Road, Battersea, London, SW11Long Leasehold Ground Floor Self-Contained Apartment Two Room(s) Terrace Vacant http://www.streetmap.co.uk/newmap.srf?x=52...p=newsearch.srf Sold for £550,500 in September 2005 http://www.houseprices.co.uk/e.php?q=Flat+...tments&n=10 Sold at the Barnard Marcus auction on the 13/10/2008 for £292k (Lot 364), by order of mortgagee (HBOS). http://www.eigroup.co.uk/ImageLib/LotPhoto...0081013/364.pdf http://www.barnardmarcusauctions.co.uk/Current_Auction.html That's a 47% drop in 3 years. Bull Food; Battersea is utterly different, it's south of the river, aren't they 0208 over there, nothing to do with Fulham. Never see 50% off in Fulham. Not even for new build. Bear Food: 47% off in South Chelsea. Quote Link to comment Share on other sites More sharing options...
The Three Little Pigs Posted October 20, 2008 Author Share Posted October 20, 2008 (edited) Rightmove October 08 Asking Prices for H&F October 08 £711,740 September 08 £692,677 August 08£661,389 July £679,074 June 08 £691,226 May 08 £691,436 April 08 £702,387 March 08 £706,542 Monthly movement:Plus 2.8% Bull Food; Asking prices in H&F reach a new high. Crash, what crash? Bear Food; Rightmove look fabulously silly by continuing to measure the wrong thing wrongly. Food for thought: Is it explained by yet more higher value homes entering the market so skewing the result. Who cares. Food for thought (2). Gun crime stats, inflation figures, immigration numbers and the Rightmove house price index all competing for this years "Fooling all the people all of the time" award. Edited October 20, 2008 by The Three Little Pigs Quote Link to comment Share on other sites More sharing options...
The Three Little Pigs Posted October 20, 2008 Author Share Posted October 20, 2008 Mervyn What news form the bee? Quote Link to comment Share on other sites More sharing options...
The Three Little Pigs Posted October 25, 2008 Author Share Posted October 25, 2008 Problems for Fulham vendors: http://www.thisislondon.co.uk/standard/art...yers/article.do HPC commentators lack a certain sympathy: http://www.housepricecrash.co.uk/forum/ind...=93096&st=0 Quote Link to comment Share on other sites More sharing options...
The Three Little Pigs Posted October 27, 2008 Author Share Posted October 27, 2008 (edited) "Homes in Kensington & Chelsea lost an average of £13,000 last month alone, while those in neighbouring Hammersmith & Fulham fell by £7,700, Richmond by £7,500 and in Wandsworth and Merton by £6,000, the Hometrack figures reveal." Tonight's Evening Standard reporting Hometrack survey .http://www.thisislondon.co.uk/standard/article-23578246-details/Monthly+figures+reveal+huge+fall+in+property+prices/article.do Food for thought: From what price, they don't tell. Neither are we to know the trend. Time was when the Hometrack survey was freely available, but no longer. Food for thought: Why does the Standard bother reporting this? Food for thought; Why do I bother copying and pasting it? Edited October 27, 2008 by The Three Little Pigs Quote Link to comment Share on other sites More sharing options...
Frizzers Posted October 27, 2008 Share Posted October 27, 2008 Good work, Mr Quote Link to comment Share on other sites More sharing options...
tinecu Posted October 27, 2008 Share Posted October 27, 2008 Reductions within a couple of months of marketing suggests the owners really need to sell. http://www.home.co.uk/search/price_info.ht...perty=547934565 Quote Link to comment Share on other sites More sharing options...
pieshop Posted October 29, 2008 Share Posted October 29, 2008 Insanity! Fulham toilet defies property crisis to sell for over £400,000 Quote Link to comment Share on other sites More sharing options...
darwin Posted October 29, 2008 Share Posted October 29, 2008 Insanity!Fulham toilet defies property crisis to sell for over £400,000 It's a nice toilet though. Quote Link to comment Share on other sites More sharing options...
The Three Little Pigs Posted October 30, 2008 Author Share Posted October 30, 2008 (edited) Land Registry Report released end October 08 Average House Price Sep 08 - £481,277 Monthly movement – Minus 0.5% Bear Food - It's finally happened - Land Reg YoY has gone negative for H&F. History will show it happened in August 08, but that's because they changed the numbers. (see below). H&F YoY Minus 2.7% Anyone buying after July 07 has a property worth less than was paid for it. Food for thought(1) – As expected previously released figures have been changed. This month's 0.5% drop is calculated on a movement from £483,974 for August 08 to £481,277 for September 08. However last month the Land Reg said the average price in August 08 was £490,185 ( see post above). Altering the figure by £9000 or so, turns the true drop of almost 2.0% into the figure they seem happier with, the 0.5% drop. Food for thought (2) - The Land Reg changed their HPI in 2006 if memory serves. From that time until today results going back only as far as 2000 were available on the site. This month however they have released figures going back to 1995. For H&F watchers this is useful - the boom in the borough did not have the same shape as the national one, with prices rising rapidly much earlier and growth stalling following City shocks. I might get round to a more thorough analysis one day now the figures are available in one index. Food for thought (3) July 95 - 199 July 96 - 327 July 97 - 356 July 98 - 360 July 99 - 459 July 00 - 238 July 01 - 318 July 02 - 425 July 03 - 301 July 04 - 341 July 05 - 312 July 06 - 371 July 07 - 356 July 08 - 133 Again volume is at between one third and a half of recent norms. There were 133 very brave buyers in July 08. Edited October 30, 2008 by The Three Little Pigs Quote Link to comment Share on other sites More sharing options...
The Three Little Pigs Posted October 30, 2008 Author Share Posted October 30, 2008 (edited) We do have a couple of motivated sellers in SW6: 4 bed house in Clancarty Road.1173 square feet. £575 square foot 14 May £900,000 7 June £825,000 24 August £795,000 12 October £745,000 30 October £675,000 Stokenchurch Street. 6 Bed Lion house. 2,174 square feet. £595 square foot 21 May £1,595,000 13 June £1.495,000 22 Ocober £1,295,000 Don't be tempted. Edited October 30, 2008 by The Three Little Pigs Quote Link to comment Share on other sites More sharing options...
BandWagon Posted November 3, 2008 Share Posted November 3, 2008 A few interesting properties from the Allsop auction, 3rd November 2008. Lot 50 Flat 501, 446 Fulham Road, Fulham SW6 1DS A Leasehold Self-Contained Purpose Built Flat subject to a Regulated Tenancy http://www.auction.co.uk/residential/LotDe...amp;S=L&O=A Sold for £305k in 2007, £219k in 2008, and back on auction, yours for £190k if you give the auctioneer a call. Just 37% off. Lot 165 9 Barclay Road, Fulham SW6 1EJ A Freehold Mid Terrace Building arranged to provide a Self-Contained Lower Ground Floor Flat and a Self-Contained Raised Ground, First and Second Floor Maisonette. Flat subject to a Regulated Tenancy, Maisonette Fully Vacant. The Maisonette affords Potential for Sub-Division of the Existing to form Self-Contained Flats, subject to obtaining all necessary consents http://www.auction.co.uk/residential/LotDe...amp;S=L&O=A Sold for £600k, is that a bargain? I'd rather have this place in Chelsea, 2500 sq feet, but what's that "Certificate of Lawful Existing Use" all about? Lot 46 30 Gunter Grove, Chelsea SW10 0UJ A Freehold Residential Building with Lawful Existing Use as a Single Family Dwelling House http://www.auction.co.uk/residential/LotDe...amp;S=L&O=A Sold for £880k. I find this more interesting... Lot 110. 19 Weltje Road, Hammersmith W6 9TG A Freehold End of Terrace Building currently arranged to provide Bedsitting Room Accommodation http://www.auction.co.uk/residential/LotDe...amp;S=L&O=A Sold for £462k. Unless there's something seriously wrong, that looks like a good deal in a decent Hammersmith road. Quote Link to comment Share on other sites More sharing options...
darwin Posted November 4, 2008 Share Posted November 4, 2008 A few interesting properties from the Allsop auction, 3rd November 2008.Lot 50 Flat 501, 446 Fulham Road, Fulham SW6 1DS A Leasehold Self-Contained Purpose Built Flat subject to a Regulated Tenancy http://www.auction.co.uk/residential/LotDe...amp;S=L&O=A Sold for £305k in 2007, £219k in 2008, and back on auction, yours for £190k if you give the auctioneer a call. Just 37% off. Lot 165 9 Barclay Road, Fulham SW6 1EJ A Freehold Mid Terrace Building arranged to provide a Self-Contained Lower Ground Floor Flat and a Self-Contained Raised Ground, First and Second Floor Maisonette. Flat subject to a Regulated Tenancy, Maisonette Fully Vacant. The Maisonette affords Potential for Sub-Division of the Existing to form Self-Contained Flats, subject to obtaining all necessary consents http://www.auction.co.uk/residential/LotDe...amp;S=L&O=A Sold for £600k, is that a bargain? I'd rather have this place in Chelsea, 2500 sq feet, but what's that "Certificate of Lawful Existing Use" all about? Lot 46 30 Gunter Grove, Chelsea SW10 0UJ A Freehold Residential Building with Lawful Existing Use as a Single Family Dwelling House http://www.auction.co.uk/residential/LotDe...amp;S=L&O=A Sold for £880k. I find this more interesting... Lot 110. 19 Weltje Road, Hammersmith W6 9TG A Freehold End of Terrace Building currently arranged to provide Bedsitting Room Accommodation http://www.auction.co.uk/residential/LotDe...amp;S=L&O=A Sold for £462k. Unless there's something seriously wrong, that looks like a good deal in a decent Hammersmith road. Lot 50. Regulated Tenancy. Ewww. Lot 165. Ditto. Lot 46. Certificate of Lawful Existing Use. Don't know what that's about. Lot 110. Might be difficult to turn back into a single family home. This would result in a reduction of the number of dwellings the borough has, and they don't go for that. These all seem like typical auction fodder to me. On the surface, perfectly reasonable but bound to have a gotcha hidden in there somewhere. Quote Link to comment Share on other sites More sharing options...
The Three Little Pigs Posted November 5, 2008 Author Share Posted November 5, 2008 Liam Bailey, Knight Frank commenting on their Prime Central London Survey - 'Up until the summer many vendors were holding to their pre-crunch asking prices. After what has taken place in the financial world over the past two months, an increasing number of vendors have decided to cut prices to achieve a sale. 'Our index shows this trend clearly, with the rate of month-on-month price falls gathering pace.’ And the falls have surprised even the experts. ‘We have become used to prices rising and falling at a glacial pace in the UK,’ says Bailey. 'Generally prices move a maximum of 2% per month, which can still add to fairly punchy annual rates of change. But a 4% fall in price in a month is suddenly very noticeable, equating to £160,000 on a £4 million house, or more than £5,000 a day. " Farewell Denial. Quote Link to comment Share on other sites More sharing options...
EDW Posted November 5, 2008 Share Posted November 5, 2008 Lot 50. Regulated Tenancy. Ewww.Lot 165. Ditto. Lot 46. Certificate of Lawful Existing Use. Don't know what that's about. Lot 110. Might be difficult to turn back into a single family home. This would result in a reduction of the number of dwellings the borough has, and they don't go for that. These all seem like typical auction fodder to me. On the surface, perfectly reasonable but bound to have a gotcha hidden in there somewhere. Lot 46: Cert. is like Planning Consent, it means the council has agreed it is a single dwelling not flats etc and thus worth more as a family home. Lot 110: House in multiple occupation will never get change of use to single home as loss of too many units. The rule of thumb in London is you can go from three units to two but not three down to one, max loss one unit only. Quote Link to comment Share on other sites More sharing options...
mervyn Posted November 5, 2008 Share Posted November 5, 2008 Property bee continues to show a steady rate of big drops in Flam. Every day reveals more drops. Gut feeling tells me that Fulham is leading the Halliwide index by 5-10%. I reckon a place that would have gone for 500k last summer could now be bought for around 350-400. Amusingly, I mentioned on this thread a while back a 2 bedder in Hugon Road which had been reduced by a hefty 37.5% from 400k to 250. It went off the market shortly after it was reduced and I stated that it must have been sold. Clearly not. It came back on the market a few months ago at 250 and has sat on Rightmove ever since. http://www.rightmove.co.uk/viewdetails-192...p;mam_disp=true I also see that this doctors' surgery on Fulham road still languishes unsold. It was bought by a speculator at auction much earlier this year for around £320k, and they have been trying to flip it for £385k ever since. Obviously, it would need converting before it could be moved into. Anne Ashworth highlighted it as an example of the property bargains available to canny investors. Don't think so luv! http://www.rightmove.co.uk/viewdetails-213...p;mam_disp=true Quote Link to comment Share on other sites More sharing options...
BandWagon Posted November 5, 2008 Share Posted November 5, 2008 (edited) Amusingly, I mentioned on this thread a while back a 2 bedder in Hugon Road which had been reduced by a hefty 37.5% from 400k to 250. It went off the market shortly after it was reduced and I stated that it must have been sold. Clearly not. It came back on the market a few months ago at 250 and has sat on Rightmove ever since. Rightmove is littered with 2 bed flats in SW6 that have dropped from 320k+ to 280k to 250k (Install the 'bee + firefox to view). If you paid top dolla in 2007 you are going to be seriously underwater. Do you default, or do you keep paying the mortgage? Edited November 5, 2008 by BandWagon Quote Link to comment Share on other sites More sharing options...
BandWagon Posted November 5, 2008 Share Posted November 5, 2008 Lot 46: Cert. is like Planning Consent, it means the council has agreed it is a single dwelling not flats etc and thus worth more as a family home. Thanks. So a large (2500sq ft) house in Chelsea, for little more than you'd pay in Chelsea West. Lot 46 30 Gunter Grove, Chelsea SW10 0UJ A Freehold Residential Building with Lawful Existing Use as a Single Family Dwelling House http://www.auction.co.uk/residential/lotDe...A=545&MP=24 £880k. Thinking of moving? Quote Link to comment Share on other sites More sharing options...
EDW Posted November 5, 2008 Share Posted November 5, 2008 Thanks.So a large (2500sq ft) house in Chelsea, for little more than you'd pay in Chelsea West. Lot 46 30 Gunter Grove, Chelsea SW10 0UJ A Freehold Residential Building with Lawful Existing Use as a Single Family Dwelling House http://www.auction.co.uk/residential/lotDe...A=545&MP=24 £880k. Thinking of moving? Have not been in area for 20 years by road but remember heavy traffic. The big money likes leafy squares with private garden in middle. Quote Link to comment Share on other sites More sharing options...
The Three Little Pigs Posted November 6, 2008 Author Share Posted November 6, 2008 For the record, today was the day the MPC reduced interest rates by 1.5%. Eight hours after this act of panic and desperation/bravery and vision the talk is of how far mortgage rates will fall and which banks will pass on what percentage of the cut. But do rates lower than the boom-inducing 3.5% rate imply a reversal in the gathering pace of the house price crash in H&F? Of course not. At best, this change will slow the acceleration; fewer forced sellers suggests a slower decline. This cut helps the real economy and the debt ridden, not access to new debt. A shading in LIBOR tomorrow morning is to be expected, but lower LIBOR does not automatically mean more and easier access to credit. According to Mouseprice the p/e in SW6 is still 15.25 times - and the bankers are worried about the continuing presence of the “e” in that equation as much as their own sub-prime balance sheets. So does this substantial move mean anything for H&F? Some fewer local businesses going bust and some fewer repossessions is my best guess. It lessens the pain for asset holders. It means less of the nasty things not more of the nice things - not more City jobs, not more bonus, not more gearing - for the first time since the war there’s a world recession on, dontchakno PS Vendors in H&F, don‘t be greedy. This is your last chance to get out - the effect of this rate change and the expectation of further rate cuts combine to present a believable story to mug punters. Drop your asking price tomorrow. Quote Link to comment Share on other sites More sharing options...
hobdoll Posted November 7, 2008 Share Posted November 7, 2008 (edited) Property bee continues to show a steady rate of big drops in Flam. Every day reveals more drops. Gut feeling tells me that Fulham is leading the Halliwide index by 5-10%. I reckon a place that would have gone for 500k last summer could now be bought for around 350-400.Amusingly, I mentioned on this thread a while back a 2 bedder in Hugon Road which had been reduced by a hefty 37.5% from 400k to 250. It went off the market shortly after it was reduced and I stated that it must have been sold. Clearly not. It came back on the market a few months ago at 250 and has sat on Rightmove ever since. http://www.rightmove.co.uk/viewdetails-192...p;mam_disp=true I also see that this doctors' surgery on Fulham road still languishes unsold. It was bought by a speculator at auction much earlier this year for around £320k, and they have been trying to flip it for £385k ever since. Obviously, it would need converting before it could be moved into. Anne Ashworth highlighted it as an example of the property bargains available to canny investors. Don't think so luv! http://www.rightmove.co.uk/viewdetails-213...p;mam_disp=true I used to live in this street (Hugon) back in 1989, in a flat exactly like this one, possibly the one next door. They are pretty basic flats but in a great location. Bus stop at end of the road takes you to Kings Rd in minutes. Generally I'm very bearish the housing market but this looks reasonable value to me. Any idea what rent it would achieve. Edited November 7, 2008 by hobdoll Quote Link to comment Share on other sites More sharing options...
BandWagon Posted November 9, 2008 Share Posted November 9, 2008 This is from the Savills auction on the 8th November: http://62.105.94.133/lond_previous_auctions.asp Lot 9 The toilet that sold for £403k http://62.105.94.133/lond_previous_auction_lot.asp?pos=9 Lot 17 3A & 3B Broughton Road, Fulham, London SW6 2LE http://62.105.94.133/lond_previous_auction_lot.asp?pos=17 Sold for 481k. It's hardly a bargain, but a rare opportunity to convert 2 flats back into a house. Lot 20, the lodge from Hammersmith cemetary http://62.105.94.133/lond_previous_auction_lot.asp?pos=20 Sold for £344k, has the world gone mad? Quote Link to comment Share on other sites More sharing options...
The Three Little Pigs Posted November 9, 2008 Author Share Posted November 9, 2008 "FEARS are mounting over the financial health of the UK’s biggest estate agency, Countrywide – owner of Mann , Bairstow Eves and John D Wood, the west London chain. Ratings agency Standard & Poor’s (S&P) has downgraded Countrywide’s credit rating, saying it could run out of cash in the next 12 months. The group showed operating losses of £29m in the nine months to September 30 and reported a 33% decline in revenues to £327m, according to an S&P report last week. It lowered its long-term corporate credit rating on Castle HoldCo 4, Countrywide’s holding company, to CCC from B, “due to concerns over the company’s ability to meet its debt-servicing commitments” Remind me, what did post 142 of this thread say about our local RICS commentator, Robert Green of John D Wood, back in September: "Mr Green, I for one am losing respect. Just getting a toehold on reality could save you from spending more time with your family." Quote Link to comment Share on other sites More sharing options...
The Three Little Pigs Posted November 10, 2008 Author Share Posted November 10, 2008 Lot 41 ( Guide Price: 260 Plus ) Vendor: Barnard Marcus, Auction today Address: 29 Stephendale Road, Fulham, London, SW6 The description from the Barnard Marcus website is: Freehold Terrace House Two Floor Arranged As Two Self-Contained Flat Ground Floor Two Room(s) & Basement Studio Flat Vacant Ground Rent on 1st Floor © Barnard Marcus Map: Click Here Last Sold Price: No data found for this property - Click here to search Auction Result: Unsold ( Highest Bid was: £285,000 ) It is not possible to calculate the profit / loss upon sale as Last Sale Price is unknown. Bear Food ; OK it didn't sell. But the high bid, whilst not acceptable to the vendor, was what the market valued it at. That is to say a 20th Century price.... 2008-04-30 67 Stephendale Road, Hammersmith And Fulham, London, Greater London, SW6 2LT £735,000 2007-11-26 37 Stephendale Road, Hammersmith And Fulham, London, Greater London, SW6 2LT £615,000 2007-08-06 92 Stephendale Road, Hammersmith And Fulham, London, Greater London, SW6 2PQ £785,000 2007-07-27 91 Stephendale Road, Hammersmith And Fulham, London, Greater London, SW6 2LT £775,000 2006-11-30 88 Stephendale Road, Hammersmith And Fulham, London, Greater London, SW6 2PQ £675,000 2006-11-24 24 Stephendale Road, Hammersmith And Fulham, London, Greater London, SW6 2PE £640,000 2006-08-11 66 Stephendale Road, Hammersmith And Fulham, London, Greater London, SW6 2PG £620,000 2006-07-21 43 Stephendale Road, Hammersmith And Fulham, London, Greater London, SW6 2LT £610,000 2006-07-07 67 Stephendale Road, Hammersmith And Fulham, London, Greater London, SW6 2LT £535,000 2006-04-06 79 Stephendale Road, Hammersmith And Fulham, London, Greater London, SW6 2LT £575,000 2006-03-17 32 Stephendale Road, Hammersmith And Fulham, London, Greater London, SW6 2PF £570,000 2005-09-02 72 Stephendale Road, Hammersmith And Fulham, London, Greater London, SW6 2PG £478,000 2005-08-19 39 Stephendale Road, Hammersmith And Fulham, London, Greater London, SW6 2LT £540,000 2005-05-03 184 Stephendale Road, Hammersmith And Fulham, London, Greater London, SW6 2PW £490,000 2005-05-03 118 Stephendale Road, Hammersmith And Fulham, London, Greater London, SW6 2PH £472,000 2005-01-14 18 Stephendale Road, Hammersmith And Fulham, London, Greater London, SW6 2PE £465,000 2004-05-26 65 Stephendale Road, Hammersmith And Fulham, London, Greater London, SW6 2LT £540,000 2004-04-23 82 Stephendale Road, Hammersmith And Fulham, London, Greater London, SW6 2PQ £585,000 2004-04-07 79 Stephendale Road, Hammersmith And Fulham, London, Greater London, SW6 2LT £535,000 2003-06-19 118 Stephendale Road, Hammersmith And Fulham, London, Greater London, SW6 2PH £420,000 2003-04-17 24 Stephendale Road, Hammersmith And Fulham, London, Greater London, SW6 2PE £555,000 2002-07-05 108 Stephendale Road, Hammersmith And Fulham, London, Greater London, SW6 2PH £480,000 2002-02-21 32 Stephendale Road, Hammersmith And Fulham, London, Greater London, SW6 2PF £375,000 2002-01-25 153 Stephendale Road, Hammersmith And Fulham, London, Greater London, SW6 2PR £415,000 2001-12-06 61 Stephendale Road, Hammersmith And Fulham, London, Greater London, SW6 2LT £446,000 2001-12-05 72 Stephendale Road, Hammersmith And Fulham, London, Greater London, SW6 2PG £415,000 2001-09-07 73 Stephendale Road, Hammersmith And Fulham, London, Greater London, SW6 2LT £499,999 2000-05-12 86 Stephendale Road, Hammersmith And Fulham, London, Greater London, SW6 2PQ £470,000 2000-03-20 22 Stephendale Road, Hammersmith And Fulham, London, Greater London, SW6 2PE £375,000 PS. Brave and/or lucky play for the man in 67 Stephendale Road. Bought in 2006, sold in 2008 - £200,000 profit. Quote Link to comment Share on other sites More sharing options...
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