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House Price Crash Forum


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About Boon

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  1. And don't forget Fernlea Road! Soon though there might be a bit of a glut. I hear 91 new apartments on Boundaries Road? That's going to take some time to shift, even in this buoyant market.
  2. Weir Road is an anomaly in Balham. Most house buyers come to Balham to buy a home in a residential, quiet area. Weir is industrial. Certainly if I had kids I would think twice before buying on Weir vs other streets. And if I was a young professional with out kids, its slightly far from the station to get to work. So maybe that's why prices there are quite lower than other roads.
  3. Maybe it was sold as a 1 bedroom in the past, and the owner has now converted it into two bedrooms? Kitchen and bathroom look like they can be quite new, suggesting the works. To be honest it's barely a 1.5 bedroom. I'd struggle to think how it might be worth more than £290k. Surprised you're even considering going to view it given the high asking price.
  4. The area does seem to have gotten more popular... which doesn't help, especially since London prices as a whole has also gone up over past 2 years. May I suggest Streatham Hill?
  5. What about this one on Emmanuel road, 2 bedroom maisonette, leasehold, ground floor. Asking for £550k!!! Just put on by Jacksons. http://www.rightmove.co.uk/property-for-sale/property-41374325.html
  6. Definitely not an early 30s couple. Average age of first house-buyer these days = 35-40. Average age of first baby, around the same too. Especially when looking at professional, urban couples both in full time employment. And a couple with only one kid doesn't need 3 bedrooms. But one with two kids do. And they really only need the 3 bedrooms once the kids are about 3-4 years old, so you're really looking at the couple in their early 40s. £150k joint salary at 4.5x will mean mortgage of £675k, and with a 20% deposit, that's a 3-bedroom flat/house price of £845k. Welcome to the new normal in London.
  7. Well, it's I the nightingale triangle, but I'm sure the estate agents have been telling you that already! I would presume that street would be popular with families, although a small 2 bed ex-council flat is probably more suitable for sharers. Is the flat leasehold or freehold? If leasehold, you might face long delays in getting council to approve the conversion if they are the freeholder.
  8. Indeed. Definitely no HPC in Balham. If anything, it looks like its more than 10% higher than this time last year!
  9. No 2 bed maisonettes have sold for 500k, but a large circa 90sqm 2 bed well renovated should fetch £400k-ish. Look at 2 bed on sale atm just round the corner on Tenham. Add a loft conversion and share of freehold and you get probably 450-480, and if lucky 500k?
  10. £630k for that is ridiculous. A good 15-20 minute walk from Balham station, and the road itself isn't the most pretty. Not particularly close to any primary school so will struggle to get a spot in the good ones. First floor two-beds, which is what this is minus the loft conversion, goes for approx £400k in the immediate area. So add the extra loft conversion, some nice interiors (have to admit wooden floor is nice), and the share of freehold and it really shouldn't be selling for more than £500k tops. I would bet that the true value is closer to £480k. Lets revisit this property in a few months time, which I'm sure will still be on the market
  11. Unbelievable - £600k? For that? And both bedrooms are basement? My My. Aaron: Thanks for the compliment - I haven't had time to update with day 2 (when the structural engineer came!) and day 3 (dealing with neighbours for party wall notices), but I'll be getting those posts up this weekend as I've just been swamped this week so far.
  12. True True... barely a day passes without some new statistic that central London prices are "booming", and that 9 out of 10 buyers are foreign. Obviously someone overseas buying a property in London for their "London pad" will mean that whichever Londoner was staying there before now has to find new housing (whether renting or buying). So apart from rich overseas buyers making central London and parts of SW unaffordable to working Londoners, there's also a reduction in stock available further increasing demand in "fringe" nice areas in zones 2-3. Like Clapham. Overspilling into Balham. The solution? Better transport links to areas further out from London, to make them more attractive to commuters. Or building new housing. But while this squeeze happens, rents and prices are going to be supported, however perverse it may be.
  13. I saw all those properties going from SSTC to Available too on my Property Bee. But on closer inspection, all the properties that did go from SSTC to Available are from Andrews. Because they all flipped status at the same time and from the same EA, I think its more of a case of some fat finger somewhere in the office. Often the Rightmove listings are integrated into the backend of the EA's systems, and if someone makes a mistake there it propagates to the RightMove listings as well. In terms of rent - I think its just unbelievable how much rents in London have gone up over the past 2 years. I'm paying £270pw for my current place, signed two years ago. if I were to move to a similar flat in the same block, I'm looking at like £310pw. But the flats are still renting. So you can't blame the landlords for asking for more if there's so much demand. I blame the government for so much red tape that its so hard to get new residential buildings off the ground to alleviate the shortage of housing stock. More stock, will mean cheaper prices and cheaper rent. Simple.
  14. I suspect that if Streatham High Street becomes more vibrant, it will make a good case for the Telford area, as currently its really stretching it a bit to consider it close to Balham High Street. Certainly its going that way - with planning granted to convert the old theatre/casino(?) on the Streatham High Street into smart new apartments and shops below. The Criffel Avenue one at £430k on Andrews.... layout seems a bit strange to me with the ktichen/diner in the middle of the house in like a "hallway". But I can see why its at that price as they've managed to get the layout to fit 3 bedrooms. Maisonettes on the nearby Tenham Avenue, around 90sqm as well, but only able to accomodate 2 bedrooms and selling for approx £380k already. What do you think the Criffel Avenue one will sell for?
  15. I don't think Aaron meant that.... the way I read in his comments was that the prices in that area are not that much cheaper than the Balham "proper" area - but as Balham prices remains high, naturally people will start to look for cheaper options in the surrounding areas and that will keep the prices buoyant. The Land Registry might show a fall of 0.5% in one month, but it seems like its going up and going down by small amounts every month and treading water at the moment. I don't see a sustained rise, and I don't see a sustained fall in London prices over the last few months. Of course Balham isn't superprime. But if you asked me to choose a grade between A to E, with A being superprime and E being the absolute dumps (Canning Town?), then I might choose somewhere between B and C, like B-. Balham's a better than average area, but perhaps not a B or B+ and definitely not A.
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