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House Price Crash Forum


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Everything posted by JB1981

  1. The part on Croydon is true But getting beaten up by the local hoodies in Sutton - they are a bunch of pussies really, they might try it on if you are on your own, but if there is a big group of people or if your a big tough nasty looking geezer - they will not touch you, they maye you a bit of mouth if they are feeling brave but that's it
  2. Very few new builds in Sutton - not really much space anyway. Some small developments recently completed. I know Croydon has a lot of new builds going on - mainly as it is a designated 'regeneration' site by the government and property is still cheap there compared to other London Boroughs. Personally any money spent in Croydon is throwing good money after bad - it is beyond regeneration and will always be a dump
  3. Just another point to make regarding house prices not reducing in Sutton Surrey. Amidst the hullabaloo that was the Halifax figures where house prices dropped an average 2.5%, there was of course huge variations. Areas more susceptible to the crash, Wales, west Midlands etc. slumoed hugely, by up to 5%. Greater London on the other hand, increased by 1.6%
  4. Yeah probably. I knew there was one in Epsom but I think it has now closed down. I would not bother travelling far to go to a Chicagos, as they a laugh but they are all similar.
  5. I presume you mean Chicago Rock Cafe? It is now two nightclubs joined as one, Chicago Rock Cafe and New York New York Don't go there so often now but still a good laugh with a few people
  6. I used to be a binge drinker! I had a lot of fun, but never threatened or argued with anyone. I think bleak places apply to most of London, including Thorton Heath, Woolwich, Hackney, parts of Islington, Elephant and Castle etc. You have to look hard to find the nicer places to live. To be honest, I live in Sutton because everything is here, family, friends, good links to my work in the City, fairly pleasant to live in (for me). A long time in the future, I can't wait to get out and live somewhere like North Devon, Cumbria or Dorset. I have been to these places and never wanted to come back home
  7. I know from Croydon when there during the day or night I feel like I am about to get beaten up. I don't get that feeling in Sutton. Did you hear about the story about a boy getting stabbed over a Big Mac in the Croydon McDonalds recently? You never hear anything like that coming out of Sutton As for getting beaten up in Sutton, I have a lot of friends in Sutton, and in the last 10 years, one of them has been in a fight when he was started on, and he won (he is a gentle giant at 6ft 5, but not a guy you should really pick a fight on). Some people in Suton look threatening, but really they are a bunch of pussies. Just don't look at them and nothing happens I also dispute the better trains links. You can get to virtually anywhere from Sutton When I retire, I will want to move out of Sutton to the countryside. Until then, I am happy living in Sutton
  8. Sutton is not rough at all. I think your gardener is exaggerating just a tad. Is he talking from personal experience when comparing it to Beirut? It is not a fantastic place to live when compared to say, Cumbria, but it is a nice place to live when compared to Thornton Heath or Croydon. And what is wrong with a big B & Q - more choices!
  9. And? Thanks for the info. Not needed. This is a thread about Sutton Surrey. Elmbridge - never been there, don't know it, so I will not make any nasty comments about it
  10. Cheers. Long time ago now, scary. I am looking at SM2 but I find you get quite a bit more for your money in SM1. I also have good knowledge of the roads and which ones not to live down. I am also looking at other places like Carshalton (the nicer parts), Cheam, Ewell and Epsom (although out of the travelcard zones), Morden etc. Will probably stay in Sutton though, everything is here for me
  11. Either you are not talking about Sutton in Surrey/Greater London, or you have missed your latest appointment at the opticians. Starting to make Croydon look good -
  12. I agree - couple of examples in Sutton In 2003 a load of new 2-bed flats were built next to Rose Hill park (I think the road is Clevedon Way or something like that). The builders (Bellway) were selling them at £225k. In 2008, there are several on the market, for between £165k to £190k. This must be a drop of at least 35% in real terms. Also, I bought my flat for £140k in 2005. 6 months later, Barratts were trying to sell new build 2-bed flats at £280k, just 5 mins walk away from me, in a 12 floor tower block above a nightclub on the high street. 100% overpriced!
  13. Er no - I have got the overground to work everyday for 8 years and have been late about 5 times due to delays - i.e. snow etc. Plus I always get a seat. Worse than Croydon. Nothing to say but You obviously either live in Croydon and don't want to slate your own area or have no knowledge of Sutton and Croydon. How can an area with double the national crime rate, crap schools and dirty streets filled with litter (Croydon) be better than an area with a below national average crime rate, a selection of schools who are always high up the national league tables, plenty of green open spaces and relatively clean streets (Sutton)
  14. Er - this was a joke made by a comedian that has since stuck for no reason. Yeah sure, there are some easy girls in Sutton, but no more than any other place. And it is certainly nowhere near as bad as places like Essex, Northamptonshire, Blackpool etc. (and yes, I do know these areas). Anyway - whats wrong with a bit of fun - are you a prude/nun?
  15. I have lived in postcode SM1 all my life. How can I not be a local? I see no reason why a property price crash will be worse in Sutton than the early nineties. Yes I remember the last crash very well thank you. My situation is that my parents split up when I was 6, and my mother struggled with a part time job looking after me and paying the mortgage. We lived well below the poverty line from 1987 to 1999. She did not buy any new clothes from 1987 to 1995 for example. As for my dad, the last recession killed him. He committed suicide in 1993. Therefore I know about the hardship of this life and the last recession more than most, I may have been just a kid, yet I probably suffered more than most on this board. As for Sutton going downhill - what do you base this on. All the actual published research and indeed my experience from living there is that it is a much better place to live than the early 1990s
  16. It was a pointless response. Great he rents - good for them. They don't mention who they are, background information, whether they intend on buying in future, how much they think prices will fall, how long they have been renting/intend to rent for, so what was the point of this post. I was pointing out that if you rent waiting for a HPC of greater than 35% before you buy, the chances of that are minimal, hence whilst I said if you wait for something of that magnitude you will be waiting forever
  17. What about yourself JCPricewatcher. What is your situation?
  18. I know - I said it was an extreme example. If I did lose my job (heaven forbid), I have insurance to cover my mortgage for a year and savings for a rainy 365 days I hear what you say about not overstretching. My life plan (sad I know) is to be mortgage free by 45, then save for at least 10 years, hopefully saving £300k + as well as a pension plan (which I have already started, but only small payments to date (£150 per month) to live off. I don't think I could do that if I moved to a £400k house in South Sutton By then my kids would have grown up, and I would like to move to a bigger place somewhere else without taking out another mortgage. I have always been keen on parts of Epsom Downs, as well as Poole in Dorset, and North Devon. I love Cumbria and the Yorkshire Dales as well but too cold. And I never want to live abroad, it just does not appeal to me
  19. At the moment my mortgage is £675 per month, and to rent a similar property would be £800.00 per month plus. Me and the missus take home pay is now around £4,000.00, and after all Bills including going out and saving for holidays etc., we are left with around £1,750.00 per month. When we first moved in our take home pay was closer to £3,000.00 per month. We have no debts other than the mortgage, and the new kitchen and central heating we paid for out of savings we had built up since moving in. We have also saved over £25k since moving in. I have worked out that with the new mortgage and Bills etc, we would have around £2,750.00 per month outgoings when living in a house, so we would still save up £1,250.00 per month. This would go into a mixture of a pension plan, savings and overpaying the mortgage. I have planned to be mortgage free by 45, and then work and save for the next 10 years after that, and try to retire at around 55, and certainly no later than 60. I do not understand people who say property is a depreciating asset. My mother bought her house in 1980 for £20k. Even at the bottom of the market in 1995, she had it valued at £75k, nearly four times what she originally paid for it. It is now worth at least £250k, and even factoring in any crash etc, her house will be worth a hell of a lot more than what she paid for it. She is now of course mortgage (and therefore rent) free. In a more extreme case, my Gran paid £600.00 for a house in Raynes Park in 1957. It is now worth £325k! People who rent could be renting for life- where will they live if they have no or a low pension plan?
  20. I did buy, at the beginning of 2005! I bought a 2-bed flat (not a new-build). It is very nice, 2 mins from the high street, yet very quiet, down a small cul-de-sac, on the top (2nd) floor. It had new carpets and new bathroom, needed central heating and new kitchen, both now done. Had it valued recently at £190k, £50k over what I bought it for, but will put on market for £180k, and will probably accept anything over £165k. Last flat in our road sold for £178k in March 2007. I am on a fixed rate (4.99%) repayment mortgage until 2010. My mortgage is 1.8x mine and my GF salary combined. The payments take up 17% of our take home pay. We also have sizeable savings to move to a house and will have no problems in doing so. Do not feel sorry for me, I am very happy with my life! We have plenty of money, a nice place to live, and will soon move on (hopefully) to a decent sized house, will get married, have kids and hopefully live a long and fruitful life. I don't give a damn about house prices anyway, as I am not an investor and I am in a better financial position than most people I know. I just want a house to live in for the next 30 years, bring up a family, and then retire to the seaside. Say if I did buy, and house prices went up and down like anything for the next 30 years, I guarantee that in 30 years time, I will get at least what I have paid for the house. Also, a mate of mine recently sold his flat at £10k over the asking price in December 2007. It has also completed and he has now moved into a house. Like the title of this thread, here are very little signs that Sutton Surrey is crashing! Things are holding up here ok
  21. Thanks for sharing your life story with us. Very interesting. Not. Yawn
  22. Yes we will see. I am not Mr Smug, just realistic. As for Sutton being Chav Central - do not make me laugh! It has some of the best schools, transport links, green open spaces, sports facilities and shopping in London. As for Chav Central, I should know, I have lived there all my life, and Chav Central it certainly ain't! As for borrowing £160k, it is less than 2.4 times the combined salary of me and my GF. Therefore I feel a Bank will assess us at very low risk if we borrowed this amount
  23. This sounds like the parable of the lucky git. I don't blame you for being happy, God has smiled on you in the past! As for my toxic family commute, it's about 55 to 60 minutes. I don't like it, but been doing it for 8 years. Not really family toxic as I am only 26, have no kids, and a GF who works who gets home 10 mins before I do. I get home at 6pm from the City, and don't leave home in the morning until 8am, so not too bad. With my profession, I could easily set up my own business and work from home, but having seen the bad effect running your own business can have on people (I knew someone who died from a heart attack at around 50, and they were a successful millionaire! his mates said he worked too hard). I might reconsider in the future when I start producing children though.
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