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Splurge

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About Splurge

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  1. Splurge

    Penge

    Or for similar money you could buy the following place close to Purley - a house ready to move in. A suburb which although further out (zone 6) - and the butt of Monty Python - has a fast, and more frequent train service to London Bridge and Victoria. http://www.rightmove.co.uk/property-for-sale/property-31471104.html
  2. Splurge

    Penge

    Surely that's some dippy sod in Foxtons erroneously transposing the figures. Look at the previous sales on that road. It must be Circa £265,000 asking price. Or it doesn't make any sense.
  3. Splurge

    Penge

    Some hike! Do you think that 'ask price' is part due it now be marketed by one of those commission hungry chain Estate Agents, who price with reference to other branches in more pricey areas and bring in buyers from those places? I am sure once that sort of agent sets up in an area there is a noticeable acceleration in prices. It does seem to be the case in my part of London. Instead of the property being marketed just locally the property is tapped into a much bigger purchaser audience and that drives up prices - because comparisons are being made too much more expensive areas.
  4. Splurge

    Kingston Upon Thames

    To clarify I am talking about the house on at 575
  5. Splurge

    Kingston Upon Thames

    I am looking at the photo and wondering is it really possible to open the front door without banging the sofa?
  6. Splurge

    Flippin Heck. Bermondsey

    Well is that a surprise given what it sold at in 2007.
  7. St Augustine's Vicarage Lynton Road Southwark SE1 5DP. on with Rightmove for 2,450,000. From the pictures it looks to have had some pretty ropey decorators in. And what's with the spots in the kitchen? Previously sold in May 2007 for 1,250,000. Does it come with planning permission to put up another Shard?
  8. Splurge

    From £800K To £950K Since Sunday

    She's quids in then. But it doesn't really explain to me why these areas which had a lot of social problems: high crime rates, poor schools are attracting the money flowing in. And what's more it is a similar situation in lots of American cities too. Personally although having lived in Stoke Newington, when young and carefree, I prefer bringing up a family further out in leafy suburbia.
  9. Splurge

    From £800K To £950K Since Sunday

    It is remarkable the growth in prices in areas like this that were once quite run-down. The bench-mark in Highbury/Stoke Newington seems to have shattered the £1 million mark pretty comprehensively. I find it fascinating that these areas are seeing such a sharp ramping, whereas outlying areas that once seen as more desirable are seeing lot shallower price inflation. Once upon a time everyone was moving out of these areas to greener suburbs. The desirability seems to have switched poles. Since the millennium prices in these once aspirational areas have doubled approximately, but in the gritty ( there's still a heck of lot of social housing around these parts) prices have gone up six-fold. I would never of thought it and I can't explain it!
  10. Splurge

    From £800K To £950K Since Sunday

    I am not sure I agree with you. I think it is probably buyers forced out of Highbury and the nicer side of Stoke Newington around Clissold Park where it has become even more eye-wateringly expensive. The area north of Stoke Newington station unless it has changed beyond recognition is quite grotty it is after all pretty much South Tottenham. Historically most of Stoke Newington was ough. But it is probably changed now that Reggie Kray isn't any longer stalking the manor. Maybe all the low hanging fruit has gone and people are now scavenging for the (s)crap that's left. But this is a working class terrace house priced it seems only to be afforded by a senior executives in the IT industry. What kind of houses are the ordinary folk going to live? Tents?
  11. Splurge

    Kingston Upon Thames

    That sort of price is delusional. You just have to look at historical price evidence for that road. Clearly from the appearance of the place, all this is, is some BTL landlord chance in his arm to try and make a killing. If it doesn't sell he'll just keep renting it out. Every so often he'll kite fly it hoping someone bite. I am seeing similar all over Rightmove. Anyone who takes this kind of bait is a fool.
  12. Splurge

    Wealth Not Income Driving Hpi

    did i write that. 'except able level' that is unacceptably dim.
  13. Splurge

    Wealth Not Income Driving Hpi

    it will find its way into the hands of the asset rich to be rented back to the priced out masses alexw This in a nutshell is what I feel will happen should we see any price fall velocity. Many people reckon that a fall in prices will make it more affordable for them to purchase the house they want as prices fall to a more except able level. But the reality is that unless you are someone with good reserves of cash it is going to be difficult to get finance in a falling market. Banks are not going to give credit on a free-fallling asset, except through pricing that risk through charging swinging interest. When large numbers of people are forced out by foreclosure, I don't see the generation behind them being the ones who take advantage of the buying opportunity of cheaper housing stock. What I see is a repeat of what has apparently in the USA post 2008 where 'Vampire Squid' investment funds have bought liquidated housing stock in huge tranches for rental. Even in this country we saw it on a smaller scale that in the recent past when mortgage availability has been scarce it has been mostly the cash/collateral rich BTL brigade who were able to take advantage and bag the, if I can use the term, 'bargains'.
  14. Splurge

    From £800K To £950K Since Sunday

    I don't see how Old Street has anything to do with prices in Stoke Newington. It's miles away. Maybe an influx of Hasidic " hot money" into Stamford Hill fuelled by a fear that Israel might contemplate handing back some settlements on the West Bank? Actually I don't have clue who has this kind of money. But I do know for sure that even Techies/ or most City workers, DINKYS or not, are unlikely to have an income that would allow them a mortgage of £1.7 million so I DOUBT PURCHASES AT THIS LEVEL ARE BEING FUNDED FROM GAINFUL EMPLOYMENT. As is being said on other threads, you can't really correlate what people do with what they can afford to buy. It is now more sourced from previous HPI or inherited family wealth. The wealth train has left the station. All future trains are cancelled. Unless this one derails.
  15. Splurge

    From £800K To £950K Since Sunday

    I saw this one for Stoke Newington on Rightmove too. Although I concede that it is a beautifully presented and desirable property (price apart) it appears to be more than double the price of anything else that has ever sold on the road. One wonders what it was bought for and much profit will be made if it achieves the asking price 1.7million on Allerton Road Stoke Newington? You can sort of see why 950k for the other house might be logical on that basis. Way, way, way above what I and 98% of people can afford (average weekly wage in Hackney under £700 per week) and incomprehensible pricing for an ordinary working class home or a somewhat larger middle class house.
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