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Splurge

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Everything posted by Splurge

  1. 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. 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. 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. To clarify I am talking about the house on at 575
  5. I am looking at the photo and wondering is it really possible to open the front door without banging the sofa?
  6. 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. 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. 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. 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. 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. did i write that. 'except able level' that is unacceptably dim.
  13. 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. 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. 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.
  16. I just street viewed onto the main road - what a dump! Yikes parking looks a nightmare. But if you are shelling out that much you'd probably only be able to afford a push-bike afterwards.
  17. Perfect family home the school around Stokey are brilliant.
  18. Yeah! what crash? Houses on this road were exchanging for under £300,000 in 2004. Things must be reaching the point where generational mortgages come to the market. Anyway you better get in quick, just calculate how much it could cost next Sunday at current price velocity.
  19. 'Saw from scrolling through topics that you were thinking of moving to Purley circa 2009 - 'The Webb estate'. If you made the move how have you found the area? My house won't be in the price bracket you were looking at, but it is in the same area and I dw just interested to hear an opinion on Purley/Coulsden.

    1. Splurge

      Splurge

      last sentence got meshed. What are your views of the area?

  20. I think that everyone finds their perfect compromise, but it does amaze me just how much people now are prepared to pay to be 'in town' in relation to the value they actually get out of it. And how much they're prepared to overlook to be in a so called be in a postcode beloved the 'Evening Standard' chattering class. What I see in a lot of these places that are going stratospheric is a superficial gentrification with the odd posh coffee shop, bistro pub and Pilates at the Church Hall etc, but scratch at that veneer and it scruffy over crowded inner London that is revealed. I still think the problems with the areas identified in the past are still what they were when people migrated out of them - that basically is that they're overcrowded areas.
  21. HPC Veteran I can get back from my office in the City to Surbiton in 30 minutes in the evening (5 mins tube, 15 mins train, 5 mins changing, 5 mins walking) which must be within 5 minutes of what it would take me to get back to any of these areas. The ticket costs more, but nowhere near enough to bridge the house price gap, so travel convenience isn't the reason, it is all down to fashionable vs unfashionable areas in my opinion. Made much the same decision myself. Zone 6+ , and under 30 mins to London Bridge. Night bus stop at the top of the road. In fact probably an easier commute than many places in inner London for where I want to go. Afforded myself a fairly spacious house on a big plot with room to expand without being right up to the boundary. It is a G band property (significantly lower in value than C/D band further in and there isn't the HPI growth potential but it is a nicer place to live than Holloway or Finsbury Park, or I imagine Brixton, Clapham. Plenty of nice places for me to chill out walking my dog, quiet but I can drink up town, schools are good, and it is around a 10 minute drive to a sizeable retail centre. People can sneer all they like, but I prefer suburbia to edgy inner city. I just don't understand - and it is an international phenomena is why moving into town is so in vogue? Were our grandparents who scrambled to get out of places like Fulham to find bliss in Worcester Park, Surbiton etc mad or is it the current generation who are flocking to buy cramped flats in these previously vacated areas who are mad?
  22. That newish fridge looks out of place in the Kitchen. Maybe it is there to help buyers visualise it as a home!
  23. I kiboshed the Kingston forum by making an ironical observation about a garage conversion, but prices there are not so bad when compared to that. One million for a shell of a pokey worker's cottage (88 sqm) in South Clapham - That's bonkers, isn't it ? Please tell me why the area is hot, and what elevates it in price over so many other neighbourhoods that have similar housing stock and not greatly disadvantaged in terms of transport connections to main employment centres of the Capital. In my ignorance I believed the area was dotted with sink estates (ditto Islington, Hoxton, etc) and that you ran a fair chance of being mugged or experiencing some other unpleasant occurrence. It seems that it must in fact be some Utopia where people are desperate to move to. Sorry if I am repeating but is it exceptionally desirable is buying here - ticks the boxes to raise a family ( tough that will be in a Shoebox size property) or is it more about return on investment?
  24. Wow!!!! I am really excited by this as I have a 100ft + Garden in Zone 6. I could squeeze a plethora of sheds like this on to the plot and become a tax exile in Monaco in 6 months. Hurray! Itwill give the street the appearance of a shanty town. But I shan't give a F... if it makes me money. Anyway what's wrong If people desire this sort of des res and I get minted providing it.
  25. A buyer should figure they're getting royally ripped off when they notice that the council tax band is C. It may've been tarted up but it hasn't become a G band value property.
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