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House Price Crash Forum


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  1. A combination of both? Really hard to tell. Area could have gone to shit, next door could be a big construction site, COVID, decor is outdated, etc etc. Another anecdotal evidence. I was renting in the Canary Wharf area about 2016 to 2017. My rent was £1800pcm for a one bedroom flat in quite a nice building. I remember checking when I left, and similar flats (they're all the same layout and size throughout the building) had gone up to £2000pcm. I checked in May 2020, when COVID hit, they were down to £1600pcm. Then in August 2020, some were asking for only £1400pcm. Now, in October 2020, the asking is back to around £1700pcm. So looks like COVID did squeeze the rents downwards, but they're now creeping back up. I'm surprised, as it was a 45sqm one bedroom, not really suited for a couple to both WFH.
  2. This forum is so dead! I used to remember, back in 2009 when I was looking to buy my first property, that this forum was a heaving hive of activity. Anyways, as a long time contributor to this forum, and also because this forum gave me so much when I was a first time buyer, I've decided to start giving back and helping other first time buyers. Do check out my website - First Time Buyer Help - and if there are any topics that I haven't covered yet, drop me a message as I'm always on the lookout for more guides to add!
  3. 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.
  4. 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.
  5. 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.
  6. 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?
  7. 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
  8. 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.
  9. 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.
  10. Indeed. Definitely no HPC in Balham. If anything, it looks like its more than 10% higher than this time last year!
  11. 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?
  12. £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
  13. 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.
  14. 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.
  15. 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.
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