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spunkbubble

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About spunkbubble

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  1. Greenwich? Blackheath? No wealthy owner occupiers (or part of the year owner occupiers)? I totally agree that most wealthy investors looking for a home will buy them in central London or the fringe to the west of it, but there are some very affluent and desirable parts of south east London. Foreign money has had a big effect on London over many, many years. Completely agree a globetrotting millionaire is not going to move into somewhere like Lewisham, hang out with the local monkeys and eat fired chicken though. That doesn't mean that those people are not buying property as investments outsid
  2. London is a much more complicated market than the rest of the UK (which also has differences from area to area). As someone said already there is a lot of foreign money investing into it and it is not just at the top end but all the way down to the little shitty holes owned by landlords renting to people who don't work, or at least if they do not enough to support their breeding habits which are housed by the UK welfare system. I can't see London crashing in a way that benefits anyone? Falling prices I can see, but not a crash without economic armageddon (in which case buying property won't
  3. I took all my own photos on a place I sold recently. Full day (8-10 hours) shooting, selecting and retouching. Under offer in 2-weeks. No idea if the shots helped but the thinking is you do what you can to help it sell.
  4. ...and as for prices heading down over the next year there is every possible factor discussed on this site. You will have to make your own mind up as know one knows until it happens. There has already been falls in prices since the market last peaked in 2007, recent falls around the UK are widely reported but you are looking to buy in London which has some differences. Some will tell you prices will continue to rise strongly (although I think that is just the Daily Express and their property empire building owners and reporters), others that they will stay supported by a lack of availabilty, n
  5. Most are probably leasehold because it alows the developer to make more money. There are some advantages to it as the responsibility and effort involved in maintaining the outside of the building, structure and common areas sits with the freeholder. In a large block it would probably be almost impossible for all the leaseholders to agree on how much gets spent on what and when but even in a smaller block or a house conversion it only takes one **** to make everyone's life a nightmare. Often the leaseholders do actually own the building, usually through an allocation of shares in a holding comp
  6. £250k will not buy much in Clapham. Very established south London area with nice bars, restaurants, open space, good supply of quality houses and flats, easy access to the City. Would of thought £400k is more like it for an okay 2-bed there. A friend recently spent Almost £700k on a 2-bed there (a very, very nice one). Would look elsewhere - maybe somewhere like Tooting?
  7. Not surprised by this. They are what will probably limit any falls or even push prices a little further. Savings are returning nothing, shares a nightmare the past few years. BTL in a market where rents are rising makes a lot of sense. While BTL is still attractive people trying to get on the ladder will be up against these 'investors' competing for property at the lower end (which is where most of them buy). Doubt we will see it taxed properly which is what it should of been to begin with. Some reduction in available mortgages might help but not by much. In my view BTL is the biggest reas
  8. I have just sold one in London. Offer I accepted was 2.5% below asking (two identical offers).
  9. Yes, that one in particular is quite something. It is a garage! To turn it into a home is going to need a lot of cash. And when it is done it will still look onto a benefits estate - well, they will be looking onto you at least waiting for you to go out so they can rob/mug/rape/graffiti/piss-though-the-letterbox/beg-for-change-and-fags. Think I am becoming addicted to Property Bee - only discovered it yesterday. Should be at work instead of downing even more coffee and being nosey! http://www.rightmove.co.uk/property-for-sale/property-31180009.html 4-weeks. £65k drop. Wed Sep 14 09:23:06 2
  10. This caught my eye earlier: http://www.rightmove.co.uk/property-for-sale/find.html?locationIdentifier=OUTCODE^2310&minPrice=375000&maxPrice=400000&index=10 Thu Aug 18 21:18:28 2011 Price changed: from '£460,000' to '£384,995' Subtitle changed: 1 bedroom terraced Terraced house Tue Feb 8 20:29:53 2011 Price changed: from '£525,000' to '£460,000' Thu Aug 26 22:08:51 2010 Initial entry found. The property is in 'east' Greenwich - which for those who don't know is very different to 'west' Greenwich. This particular property is right in front of a horrid council bene
  11. True. That one is in a dirty stinking ghetto full of scum. Not all of it is like that though.
  12. Personally I would go East. Long-term I think it is a much better bet as it is where all the development is, better/newer transport links etc. Although it could get hit a bit harder if the prices do fall for a while - maybe that is a good thing? I can't see £350k buying a house in Finchley. Maybe a nice conversion flat though? Not all the flats in E14 are new build boxes: http://www.rightmove.co.uk/property-for-sale/property-34204433.html
  13. Interesting reading the above. Pretty much agree with the content of it - right now is probably quite a good time to buy if you can find a property at a fair price. Rents are rising in London and will continue to do so as there simply are not enough properties available. With the sales market slowing as people struggle to buy/move for whatever their reasons are the shortage is likey to get worse. Combined with prices falling a little, savings earning nothing and stocks doing badly, BTL is probably going to see a bit of a surge again at some point.
  14. Fixed rates benefit the lender far more than the borrower. Borrowers buy the product based on how they feel at the time, sometimes without much research. Big purchase like a house, worrying about what might happen, hearing that interest rates could rise. Fixing takes the fear away (for 3 or 5 years at least). The lenders is the experts. They have huge teams of people crunching all the numbers, massive resourses, access to data the buyer does not even know exists, an in-depth understanding of not just a local housing market but global capital markets. They offer fixed rates so they make money,
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