Prices In Esher/elmbridge

[Tomas]

Bob,

Lived in Claygate for 3 years and that in my opinion is the best place to be in Esher (as Claygate is often described) even if it is deteriorating with the Parade changing character over time and being less relevant to every day needs. Love the Foley pub for some lunch on a lazy weekend.

Maybe not so handy with the rail but the village feel is a big bonus, plus Kingston on doorstep, A3, Odeon cinema in Esher etc.

Would be my favoured option if it had a direct link to Woking where I work.

[bobthe~]

Bob,

Lived in Claygate for 3 years and that in my opinion is the best place to be in Esher (as Claygate is often described) even if it is deteriorating with the Parade changing character over time and being less relevant to every day needs. Love the Foley pub for some lunch on a lazy weekend.

Maybe not so handy with the rail but the village feel is a big bonus, plus Kingston on doorstep, A3, Odeon cinema in Esher etc.

Would be my favoured option if it had a direct link to Woking where I work.

I guess Surbiton would be ideal from a train point of view, but not our cup of tea.

Claygate is quite handy, although a curate's egg (good in parts). Did you ever meet Michael Aspel?

We saw David "Kid" Jensen a few times in Esher and Hampton Court. Not famous any more of course, but used to be.

Esher has some places round by the industrial estate as mentioned earlier in this thread that aren't so good.

It could be worse, you could be looking to live in Hinchley Wood.

We like where we are living and were pleased to be renting just around the corner from our current house.

[Flopsy]

Had a drive around Cobham yesterday before visiting some friends in Anyards Road. There were "sold" signs outside a block of flats there between the "to let" signs which may mean some landlords are selling up.

A neighbouring cottage was also sold and there for the sale sign had only gone up a few weeks ago.

Looks like things are selling at the bottom end of the market.

Does anyone have an opinion or knowledge of the development "Victoria Place" in Anyards road, KT11?

Kindest regards to all from,

[Bilboid]

I think props are falling through the floor in SW London. We're looking in KT8, and everything we're looking at has been cut in price by 10% plus (though this could itself be an EA ruse), so we're offering at least 20% under asking. Not that we intend to buy for at least 6m, when the fall has become a full scale crash, but interesting to note responses. One poor old chap is retiring overseas, needs to sell, had his place up for £350k, reduced to £325, we've offered £310 (no intention to buy, just for devilment).

EA is calling regularly to see if we'll go up £10k, and will throw in old guy's car!! Hold your water everyone, the adjustment has only just begun.

[Flopsy]

Hi there Bilboid,

Sounds promising!

If you have any links to properties please post them. I'm not looking at KT8 but would love to compare notes with prices in Esher/Weybridge etc.

Many thanks.

[Bobbins]

Update from Thames Ditton on the eastern edge of Elmbridge. After a 15% rise since the start of the year, prices have come off a bit. Previously desirable houses that would go for offers over 3 months ago, are now languishing. One, which would have sold overnight 3 months ago has just had a £25k cut. OK it is still over £600k, but this is a 4% reduction. Couple this with the fact that someone is going to make an offer at least 5% below this, then I reckon properties will actually currently sell 10% below the pear of May 2007.

Even with a 10% cut we are not back to the price levels seen at the start of the year, but it is a start. A desirable road that has around 3 houses sell each year, currently has 3 houses for sale at the moment. They’ve only been on the market between 2 and 5 weeks (obviously trying to catch the peak ,but they were too late and missed it), but this is an eternity compared to what we’ve been used to.

The market has definitely turned. Although still bloody expensive out there, it’s now a buyers market in Thames Ditton.

[Bilboid]

Hi there Bilboid,

Sounds promising!

If you have any links to properties please post them. I'm not looking at KT8 but would love to compare notes with prices in Esher/Weybridge etc.

Many thanks.

I've just been looking at the usual sites, findaproperty and propertyfinder, and yourmove seem to have lots in Walton. The transport links aren't great - only Hampton Court station really, 2 trains per hour. West of the roads with lovely big houses near Hampton Ct station it's pretty chavvy, but what can you do? Doesn't affect me, but not sure about the schools there either - seem to be quite a few young families getting out.

[Earplug]

http://www.findaproperty.com/displayprop.a...p;agentid=00662

First listed 1,095,000 in the summer. Changed agent and price to 1,100,000. Dropped the price this week to 998,000.

http://www.findaproperty.com/displayprop.a...p;agentid=00866

At least three accepted offers have gone on to fall through on the above.

Getting very slow judging by how crawly the agents have become.

[Rachman]

Earplug, both those houses are overpriced - they both need the thick end of £75K spending on them at full rate to be right and will still be 'small'.

Related, one house on the next street to me - 1950's and all that fugly that goes with it and 2000sq foot has just sold for £1.5M - big garden for a knockdown and put two/three in it. And a house sold late last year for £945K - just gone back up at £1.5M as they are trying to get planning permission for a knockdown and build a new one - the plot is only 0.3 acres, so too small for two houses - that's a damned expensive plot of land....

[i don't think it will sell at that - they were too late....]

Both Cobham (Fairmile/Oxshott Heath area).

[Flopsy]

Things down at the bottom of the market seem to have died.

My property alerts are not returning new things coming onto the market (only the odd one). No EA's are ringing me at all.

I'm not see many reductions on propertysnake either so we seem to be at a stalemate.

[Earplug]

Earplug, both those houses are overpriced

I guess thats the point - not long ago stuff like this was overpriced and selling now its just sitting there. They both need way more than £75K spent on them BTW.

[bobthe~]

I've just been looking at the usual sites, findaproperty and propertyfinder, and yourmove seem to have lots in Walton. The transport links aren't great - only Hampton Court station really, 2 trains per hour. West of the roads with lovely big houses near Hampton Ct station it's pretty chavvy, but what can you do? Doesn't affect me, but not sure about the schools there either - seem to be quite a few young families getting out.

You have to stay in East Molesey, rather than West. There is an enormous difference in prices and although I hate to say it, class as well.

We used to live in W Molesey and loved it there, but outgrew the house and moved to Esher.

Schools and transport are the problem. Chandlers field, although it did have as a former pupil, Matt Willis (or is it Wills?), formerly from Busted and I'm a Celebrity, is actually a really crap school. and the pubs in Molesey aren't that good, ranging from the dangerous (the cannon) to the unpleasant (the Poyntz)

allegedly.

and you mentioned the Hampton Court line, but you can change at Surbiton and get a fastie in the rush hour, although that normally means standing.

Incidentally, some friends of ours in the E Molesey/Thames Ditton borders have just put their house on the market and were told by Local EA HJC, that they should have done it a month ago. This bears out what we have been saying and seeing. Even the good houses are taking longer to sell (and might be taking offers, we won't find out till they get to the LR figures) and the not so good ones have to drop their prices.

[bobthe~]

Thought people might like an update on the Ember area of Esher.

In general houses aren't selling. Obviously some do.

There are a few reductions in price, small amounts (750 to 725 for instance).

There are also some houses that were down as under offer that are now not showing as such in primelocation and Findaprop. Presumably an offer nowadays means they haven't been to see their mortgage adviser.

The one I mentioned waaay up the thread on Ember Lane that was a 3 bedroom pimp my ride property ladder jobby and had sold overnight for 850k still has the same car outside it and has disappeared off Findaproperty. Normally these things stay on for ages as being under offer or sold, so as we thought there was something a bit fishy there.

[Flopsy]

Thanks Bob,

That does sound suspicious!

I've been following a few properties and they are either sitting there (albiet with a small reductions) or moving to the rental section, or just disappearing.

One property started off at EA1 at about £380,000, then was reduced to £370,000. I spoke to the agent and she said there was an offer for £365,000 but the vendor was holding out for the full price. It then disappeared and ended up on another EA's website back at £380,000. It's now disappeared and this EA(2) keeps them on there for months even when they sell.

I've not seen it appear on LR or Nethouseprices as sold.

Will be some interesting months ahead.

Edited November 1, 2007 by Flopsy

[Flopsy]

Hi to all,

A cottage I noticed in Cobham with a "sold sign" outside has come back on the market again.

Also a flat which was "under offer" also back on the market to sell or to rent.

Weybridge, a flat I was originally sent details of at £339,000 is back at £319,000.

Any other news?

Edited November 12, 2007 by Flopsy

[bobthe~]

Hi to all,

A cottage I noticed in Cobham with a "sold sign" outside has come back on the market again.

Also a flat which was "under offer" also back on the market to sell or to rent.

Weybridge, a flat I was originally sent details of at £339,000 is back at £319,000.

Any other news?

Hi Flopsy.

Good to hear, although there is so much "bad" news I am not sure I can take any more.

We have noticed a couple have now sold (subject to contract) round our way, but I think there are more coming on the market than are selling and are hanging around a lot longer before selling.

We are going to keep an eye on those 2 and see if they do the same as the ones you noticed and come back on or if they do sell, how close to the asking price they get. One of them was reduced 25k and needed work, so presumably will have accepted an offer.

[Rachman]

house on my street went up at £950K in July. Steadily dropped to £845K - which is where I should have valued it - taken off market (had gone under offer day after it went to £899K, but came back). They paid in the low £600Ks three years ago and have spent the thick end of £75K on it.

Market is very flat - still some people kite flying, but on the whole a lot of 'tainted' property that's now been on too long.

Good (that is, good condition, right location, right spec, not ugly) houses still seem to go under offer and sell very quickly at very good prices, anything compromised or priced stupidly (IMO) is sticking and having to be reduced.....

[bobthe~]

house on my street went up at £950K in July. Steadily dropped to £845K - which is where I should have valued it - taken off market (had gone under offer day after it went to £899K, but came back). They paid in the low £600Ks three years ago and have spent the thick end of £75K on it.

Market is very flat - still some people kite flying, but on the whole a lot of 'tainted' property that's now been on too long.

Good (that is, good condition, right location, right spec, not ugly) houses still seem to go under offer and sell very quickly at very good prices, anything compromised or priced stupidly (IMO) is sticking and having to be reduced.....

Sounds about right to me.

One of the houses that went under offer was a 4 bed one on the woodlands for 795k.

It looked a nice house, although the woodlands does get lorries along it to the industrial estate, but not like a busy road or anything. It sold relatively quickly (or at least has gone under offer).

under offer

Compare and contrast, a 3 bed one for the same price on grove way that seems to need a bit of work on the outside.

Under some delusion

And a 4 bed one for 875, also on grove way, that has been on for well over a month unsold.

Vile cladding on the front

As you say, nice houses will sell at the right price.

Hilariously, there is also one house that still says "offers in excess of" in front of the price.

[bobthe~]

Sounds about right to me.

One of the houses that went under offer was a 4 bed one on the woodlands for 795k.

It looked a nice house, although the woodlands does get lorries along it to the industrial estate, but not like a busy road or anything. It sold relatively quickly (or at least has gone under offer).

under offer

Compare and contrast, a 3 bed one for the same price on grove way that seems to need a bit of work on the outside.

Under some delusion

And a 4 bed one for 875, also on grove way, that has been on for well over a month unsold.

Vile cladding on the front

As you say, nice houses will sell at the right price.

Hilariously, there is also one house that still says "offers in excess of" in front of the price.

How sad, replying to my own posts, but anyway here is an update, also to get Esher back on the map.

Here is the list of properties that have sold since the last update:

There that didn't take long. Actually, there are a few properties that are going under offer they are either around the 550k mark which is the cheap end of the market and in Hinchley Wood, or in Cobham/Weybridge, not Esher .

Now, there are a few new properties that have had to reduce their prices cos they actually want to sell, but it has done them no good.

895 to 865

825 to 800

849 to 800 - actually went under offer but now back on the market

699 to 675 - actually there are a few of these houses scattered around the ember area, and back in May we went to see one that was in much worse condition than this and was on for 699. We went to see it and thought to bring it up to 699, we would need to spend about 100k on it, so walked away. It was in the LR figures for 670, so some mug bought a 675 house for 770 odd. Assuming it sells for 675 of course.

Further out there is one in Hersham that was originally 825 but now reduced to 760. Looked a really nice house and glad we didn't buy it.

Then there are the old favourites, the 950 blue tiles one on ember lane is still 950.

the 875 and 795 ones in my last post are still for sale at the same price. The Offers in Excess of as per previous post is now off the market, perhaps waiting for prices to pick up again.

Strangely the nice one that was under offer in my last post is no longer there, which is unusual for a sold house because they always keep them on for as long as possible. So maybe that has fallen through as well.

This one was under offer, but not no more

All in all, it's carnage.

I did a little chart of the LR completions in KT10 from April 2000 up to November 07. From reading Spline's posts it looks like we shouldn't really read too much into the actual values in the last few months, as they take a while to get fully updated, but as an indication it might be useful. It certainly shows the 2005 drops in volume. Can anyone let me know how to put an excel chart up here? Do I have to take a screenshot and then hack about with it in Paint or something?

And here is my piece de resistance:

Originally under offer in June for 825 (that we were going to buy), now 975 Muwahahahahahaha

[bobthe~]

And another thing to add.

Round our way there are loads of houses that have been bought up by developers.

I am wondering whether this has been one reason why prices have been so high, because normal joe's have had to compete with the previously bottomless pockets.

That could be about to change as none of the development properties seem to be selling...

[Flopsy]

Hi Bob,

Great to see some news in this topic again.

I'm looking for a property at the bottom end of the market in Elmsbridge and things are looking better for me as well. I need something with flat access or a lift as I am disabled. Flats that were on the market with an asking price of £339,000 are now appearing at £319,000. They are still not selling as far as I can see.

A few cheaper houses and cottages (<350,000) are appearing and do seem to be going under offer - don't know at what price and if they will complete in the end.

The ones that seem to be "sticking" are the more expensive cottages in that cheap range (between 350,000 and 450,000).

I've seen a few with quick possession and they seem to be empty so this will be a good way for me to size up the market.

Kindest regards,

[bobthe~]

Hi Bob,

Great to see some news in this topic again.

I'm looking for a property at the bottom end of the market in Elmsbridge and things are looking better for me as well. I need something with flat access or a lift as I am disabled. Flats that were on the market with an asking price of £339,000 are now appearing at £319,000. They are still not selling as far as I can see.

A few cheaper houses and cottages (<350,000) are appearing and do seem to be going under offer - don't know at what price and if they will complete in the end.

The ones that seem to be "sticking" are the more expensive cottages in that cheap range (between 350,000 and 450,000).

I've seen a few with quick possession and they seem to be empty so this will be a good way for me to size up the market.

Kindest regards,

Hi Flopsy.

Thought a PM might be more suitable, but you have it switched off I think.

Anyway, if there is a property that you like the look of, let me know and I can give you an idea of the area and "desirability". Lots of flats being built or planned in the past year or so. Most of them seem to be overlooking the racecourse and attempting to charge 800k (you can get a very nice house for that), but I notice that in Molesey there were a few going on.

We lived in Molesey for 5 years and loved it there, but it is an area that is a bit of a Curate's egg.

[REB]

Great thread

I sold middle of last year and decided to rent in Claygate and loving it.

I will buy at some stage in the next couple of years in this area. looking for a 3 bed detached >550 grand hence it needs to drop 20% or so.

Im fairly relaxed about it as im 100% sure its going to happen.

In the small close I live 2 or 3 of my neigbours have lost their city jobs since Xmas.

I think there is going to be some real problems round here as almost everyone relies on the city for work.

keep up the good work.

Regards

REB

[bobthe~]

Great thread

I sold middle of last year and decided to rent in Claygate and loving it.

I will buy at some stage in the next couple of years in this area. looking for a 3 bed detached >550 grand hence it needs to drop 20% or so.

Im fairly relaxed about it as im 100% sure its going to happen.

In the small close I live 2 or 3 of my neigbours have lost their city jobs since Xmas.

I think there is going to be some real problems round here as almost everyone relies on the city for work.

keep up the good work.

Regards

REB

Hi REB.

I think you are right about problems in the city.

I saw some puff piece in the telegraph online, can't remember when it was, saying that there was 2bn of bonuses ready to buy up all the "bargain properties". It then went onto say that although this wasn't as large as the 5.5bn from last year blah blah blah.

And I thought, they are telling us that the money from city bonuses has dropped over 60% and saying it will have a positive effect on property prices?

Wait till the bonuses go down to nothing, then you will see prices really taking off.

As you are in Claygate, you might want to try and get hold of the local ramping mags, I think it was focus on kingston or something. It had an hilarious article by the guy in charge of Boyce Thornton in Claygate trying to dispel the "myths" of the current property market.

Fact: In over 33 years I have never seen a November and December that isn't more quiet than the rest of the year.

Actually, I don't think 33 years of experience in the Claygate housing market is going to prepare you for the next few years, matey.

[bobthe~]

I have noticed an increase in properties on Findaproperty in the esher area since the new year, no doubt the increase in activity that the local EAs are trying to pump. Of course in order to buy a house they have to sell theirs...

Anyway, I started to keep track on houses and flats in Esher and Thames Ditton, just to record how things are going and whether it looks as though inventories are starting to come down (which may herald the end of the slump - this is a long term exercise).

Anyway, this week there has been a 5.5% increase in properties on the site, unsold.

Seasonally adjusted, that means a 50% decrease and therefore supply is outstripping demand. hurry now before it's too late.