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worried1

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  1. I just went back to have another look at that Mumsnet thread, but it has been deleted. At least the mods there might have a clue!
  2. It does seem like one person over there gets it, or is this someone from HPC posting: "What a selfish post- cry the 60% with houses which have had historically low mortgage rates for many years now, and have shot up in price.Why would renters, forking out half their income, and not even able to paint their homes or own pets, be a bit bitter and prefer a slight equalization of the housing market to allow them to jump on.I see lots of drawbridges pulling up here. If you own a home and didn't buy extremely recently, you have massively benefited from the govt's strategy of pouring money into the economy and keeping rates artificially low. Renters have to work just as hard long hours and don't get the capital investment increase that house-owners have had.As one poster says- if you lose your home, so what? You can just rent, remember!"
  3. My personal favourite from the Mumsnet thread: "Good god, somebody actually hoping for a price crash in the housing market. Words fail me". It is a ridiculous thread, but the frightening thing about it is the proportion of people who see what has gone on in the past 20 years as totally normal, and that they have earned this money through their investment skill as opposed to Government meddling.
  4. worried1

    Kingston Upon Thames

    I'd be surprised if they get anything like that. It's right next to the troublesome Cambridge Estate, which was probably priced into the original £369k, but the eatate is going to be torn down at some point. That will be years of upheaval during the demolition/construction and although the new estate will undoubtedly look better, it is going to be twice as big, which I'd expect to mean twice as much trouble on your doorstep.
  5. worried1

    Best London commuter towns

    My impression is that it still is better. From Orpington, you can go directly to Charing Cross, Waterloo, London Bridge and Cannon Street, from Woking it is only Waterloo. When SWR actually decide to run trains, the commute time from Woking is very fast given how far out it is. The cost is high due to the distance and there is the increasing reliability issues and the Waterloo-only issue. Your point about the west-Kent stretch being much cheaper than the Surrey equivalent would probably rule out anything in the latter as the 'best commuter town' for me, purely on cost. The real equivalent to Orpington on the Surrey line is Surbiton (zone 6, Greater London, sub-20 minutes journey), but that is a lot more expensive like for like. I always think that Tonbridge looks a reasonable option. Like Woking, it has a lot of nice villages and countryside surrounding it, even if the town centre is poor. It's about 35 minutes into London Bridge, but has direct trains to all of the other stations as well, which means you could probably be at your final destination quicker than coming from Woking, and no Tube requirement would mean that the ticket cost is cheaper as well.
  6. worried1

    I wish Rightmove allowed comments.

    That road and the ones next to it are just a bit of a perfect storm unfortunately - houses in an area that is predominantly flats, but an area that is sought after by people moving out of London with wads of cash. Most of them want a house rather than a flat, otherwise they'd just stay in London, so the prices of the few available houses gets pushed up and up until it is in the ridiculous state it is now. Flat prices are coming down fast. There is a flat as few roads away (closer to the station) that is as big as this house with an asking price of £350k. Again, it won't be of interest because that is not what the London buyer are after, and the perception is that future price growth will be lower.
  7. worried1

    I wish Rightmove allowed comments.

    I genuinely think that a lot of it is to do with investment value - they are frightened to move anywhere else because they feel that they will benefit less from the ongoing flow of free money from ever increasing equity. It actually couldn't have been further from the truth in the last couple of years! That said, I live very close to this house, and I DO like the area, just not enough to pay anything like the prices being asked at the moment! I don't think that living in/around London makes most people much better off, that is only those with jobs paying several hundreds of thousand in banking or professional services, and they won't be looking at this type of house... What it does do is give easy access to the best sized pool of 'normal' jobs that are available. If I lost my job now, I'd be more confident of finding another one of equal value quickly in London than elsewhere. That's just an opinion, though, so may be way off the mark. I'm not sure how much of a difference the reputation that London is getting as a centre for stabbings has made yet. Surbiton is likely to remain one of the lower affected areas due to being so far out of the centre, so that might actually create even more demand. Nearby Wimbledon and Kingston seem to suffer with it a bit more now, but I don't really feel at risk myself when walking through there, or other slightly more dangerous areas of London. People just seem to have got carried away with all of the cheap money to compete for houses like this.
  8. worried1

    I wish Rightmove allowed comments.

    With that one, most people really would be better off buying a flat - you can't really make it much bigger than it is and it has no real garden or parking. I still think a lot of London buyer would prefer this, but no longer at £730k!
  9. worried1

    I wish Rightmove allowed comments.

    Indeed, a lot of the time it is just that the target market are moving out of London and one of the specific requirements is to have a house rather than a flat, otherwise they may as well stay in town. The original house linked could actually be made quite big because side and rear extensions could be added along with a loft conversion. Perhaps 1,600 sqft and still with a reasonable garden and parking. The problem is one you have done that, this becomes a £1m+ house which could look even more silly at that price in a few years time....
  10. worried1

    I wish Rightmove allowed comments.

    Sorry, I should have said, one of the best examples in the area, I realise more central areas have gone up even more steeply. It will be interesting to see if any upcoming crash rebalances the prices in different areas back to pre-bubble ratios, reversing the ripple effect somewhat. As you say, back in the 90s, there wasn't such a big percentage difference in values between zone 2 and zone 6 as there is now. Similarly, somewhere like Surbiton is much more expensive compared to areas further out in the commuter belt than it was back then. In another recent thread on here someone described Surbiton as 'Used to be where all the unskilled clerical workers in the BBC situation comedies lived'. Whilst that may only be partially true, I do remember people living in smaller houses further in, and then moving out to larger houses in the commuter belt when they progressed in their careers. It still happens, of course, but maybe a bit less so.
  11. worried1

    I wish Rightmove allowed comments.

    The other 'side' of this semi is also on the market, and it is even worse valiue: https://www.rightmove.co.uk/property-for-sale/property-76412477.html This one doesn't even have the land at the side, meaning no off-street parking, no ability to extend to the side and a narrower plot overall. That is much more than a £25k difference, I'd have thought. A couple of years ago, I think that they'd have got fairly near these prices (as ridiculous as they are). As it is, I'd agree with the comment above that they are probably worth £550k-£600k now and even then there will be a much smaller section of buyers that will be interested in them. There are quite a few other sellers who may find themselves in the same boat: https://www.rightmove.co.uk/property-for-sale/property-75092795.html https://www.rightmove.co.uk/property-for-sale/property-68057833.html https://www.rightmove.co.uk/property-for-sale/property-76124963.html https://www.rightmove.co.uk/property-for-sale/property-56390805.html https://www.rightmove.co.uk/property-for-sale/property-55493109.html https://www.rightmove.co.uk/property-for-sale/property-71343197.html
  12. worried1

    I wish Rightmove allowed comments.

    That's basically what it is, but there is also an extra premium attached to this particular part of the area. It is mainly people from more central parts of London that are buying these houses as local can't afford them. This part of the area represents a bit of a softer landing for those that are making their first move out to the 'burbs, because it is only one street away from the station and sits in quite a well preserved area with a smattering of good bars and restaurants. It's a very different feel to walking out of the other side of the station and ending up in Berrylands, and enough people seem to be prepared to pay a premium for it. This road is one of the best examples of how far prices have rocketed so quickly. Looking at the Zoopla history of number 5: Nov 95: £115k Dec 99: £209k Nov 05: £385k Dec 17: £815k That is a 600% increase in 22 years, and the only reasonably significant work done is a loft conversion!
  13. worried1

    Kingston Upon Thames

    If ALL support was removed then prices would have to go down, I guess. Whether we would ever see them go that low is debatable. I think not because the biggest housing bubble of all time has engulfed a whole generation who now believe houses prices only ever go up. Even a sharp crash probably wouldn't put a lot of them off - they'd just buy in expecting the market to start going up again next year. I don't think that the support will be removed anyway. If rates do go up meaningfully, we'll see more schemes like HTB and increasingly ridiculous fractional ownership. The developers wield a lot of power, just look at their shameless claims that HTB has been a great help to buyers and the economy, when it is totally obvious to all concerned that they themselves are the only real beneficiaries.
  14. worried1

    Kingston Upon Thames

    I have been on this thread for years. It is really interesting to see what was considered crazy in 2013 actually seems like a very reasonable price now! That is the problem with HPC. I believe that we are definitely 'right', in that prices have been far too high for a very long time, but if I hadn't heeded the advice and bought a house in 2013 and sold it in 2017, I'd have made a lot of money for doing nothing at all! The local thread is one of the most interesting to me because prices are so variable between different areas. A small terraced house for £500k would look good value in most of Kingston, a complete steal in Richmond, but far too expensive in most places outside of the M25. That house you linked to is definitely a crazy price in my opinion. I notice that Foxtons have put a lot of interior photos before the shot of the outside of the house, presumably thinking they are tricking potential buyers into thinking that this is a much grander house as opposed to an extended workers cottage. The trouble is that Foxtons (and others) tend to value on sqft rather than house type. That can't be right - I'd much rather have a 1,200sqft detached house with room to extend sensibly in the future than something like this. The problem is compounded by the fact that the Foxtons view of what each sqft is worth is very high as well.
  15. worried1

    Kingston Upon Thames

    It's an awful location. Right on the main road with constant traffic noise/jams, but too far to walk to Esher or Surbiton stations, so you'd have to go to Thames Ditton and either change at Surbiton or sit on the slow one. It is really handy if you like to spend your weekends looking around car dealerships or self-storage facilities, though. I'd definitely not want to live there, but I bet someone will still offer near £1m for this. If the developer rejects that, I can see it staying on the market a very long time. Awful.
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