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House Price Crash Forum


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About iguana

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  1. I've read that initially SAs came to Wimbledon because it was one of the whitest areas of London, which I think it still could be. Now it's so popular with Saffers that it's become a home from home. Immigrants do tend to prefer living in areas with high concentrations of their countryfellows. So Wimbledon is to (white) South Africans what New Malden is to Koreans.
  2. I pay less than £1200pm, but a house down the street had to repeatedly drop it's rental price 3 months ago and went for £1200pm. Another on the street was asking for £1350pm for the last 6 weeks to no avail, it's dropped to £1325 now but still has no takers. Obviously I don't have it under surveillance but as far as I can see they have not had one viewing. There is a house on Faraday asking for £1300pm for the last 3 weeks. The asking prices have no bearing on what they are actually renting for. A couple of my friends were looking for a new rental in Wimbledon recently and they were being bombarded with calls from letting agents after viewings who are telling them the rates are negotiable. In the end they bargained their old landlord down instead. A house in Poets, which isn't as nice an area as SPG, but the houses are bigger was asking for £395k in the Autumn, it was withdrawn and put up for let instead. Which means that it wasn't getting any interest at the asking price. And the average SPG house is too small to raise a family in. They are 2 up, 2 downs, with paper thin walls and extensions. Have you ever noticed that when people with babies go to visit their friends in these houses they leave the buggies outside because they can't fit them in? The area is nice, I enjoy living here, but is hardly anything special. They only ever became so popular because people were using the price rises to trade up to proper family homes. Now without price rises to fuel a "ladder" they lose that draw.
  3. And the fact that less than 18 months past peak there is one of these houses for auction with a guide of £325K? And that they only command £1200pm in rent. You have to remember that prices were so high because of a huge speculative bubble. They were utterly divorced from reality, the prices reached at peak are meaningless in terms of value. They need to be forgotten in terms of assessing actual value.
  4. This is quite an interesting SW19 property up for auction. 4/5 months ago there was a poster on here asking if £655k was a good price for one of these house. Granted the £655k house was extended at the rear and in the attic, but £330k will buy you a lot of extension. I walk past this house everyday and strongly suspect it's a repo. There does seem to be a bit of interest in it as I've seen some well heeled types eyeing it up. That said I think if anyone buys it for the guide price now they'll regret it in two years. I think it's real value is between £150-£190k as these rent for about £1200pm.
  5. There are other areas in London with good schools though. SW19 has plenty of really good schools, for example. I have a strategy for buying a house in London. I want to get a realistically priced house, and I would like it sooner rather than later. So I have a list of areas I'd like to live in and I keep an eye on all of them. That way I'm not just focused on one area to the point of missing out on other houses that could equally suit my needs.
  6. Mine was like that too. Back in February when there was still a huge amount of denial we put our place on the market. The EA gave me the valuation and then said that if I really wanted I could put it on a little higher for 2 weeks, but he'd rather start out lower. His relief when I said his valuation sounded right was palpable. In fact he was really surprised I'd agreed so easily. Then we had a laugh about all the over-priced houses on the market. He said they had actually turned away a lot of vendors as they were only interested in taking on properties they thought would sell. We had 15 viewings and 4 offers in two and a half weeks and sold within 2% of the asking price. I occasionally keep an eye on the old area and that agency is certainly leading the prices down.
  7. Agreed, our dog a few years ago ate poison, but for a week and a half was treated for internal injuries from a jagged bone, which we were told was seen on the x-ray. It wasn't until he died and they performed an autopsy that they discovered that he was dying of poisoning. They still gave us a 5 figure bill for all the treatment he never needed. :angry:
  8. It may have been arranged after the auction. Approaching bidders after the auction to work out a deal is quite common.
  9. I don't think you or your wife would like me as a friend then. I always buy the cheapest baby gifts I can find, as long as they are still nice. If I'm buying a present for a baby at home in Ireland I go to Matalan or Peacocks, if it's a present for an English baby I pick up something in Dunnes or Guineys (Irish supermarket and cheap clothing store) when I'm at home. That way I've gotten something inexpensive, but the parents will never have a clue how cheap I've managed to be.
  10. This is exactly what has happened. A huge amount of people will have bought things today that they would have bought anyway. I'd imagine a lot of people will have picked up christmas presents today instead of waiting til next week. Of course what this means is that M&S (and Debenhams) will have picked up these sales over other stores. But they have lost 20% of everything they would have gained anyway. They will have had people impulse buying today but people who might have shopped repeatedly over the coming 5 weeks may now have all they need. And won't be impulse buying throughout December.
  11. But the weather was foul. It was either freezing or pissing rain on most of the nights you'd expect fireworks. People may well have bought them and decided to hold off until Christmas/New Year before setting them off. Especially as thing involving fire don't work too well out in the rain.
  12. That's a flat, the property is just the 1st floor and attic. Where I live a 2 bed terrace, with a 3rd bed in the extended attic, sold for £721k last November. In the South Park Gardens area, just off the Broadway. They are now being marketed from between £555 - 675k. The two beds rent for around £1200pm, so still vastly overpriced.
  13. Got a link to either?
  14. And maybe again a third time. And even then £77k would still be a bit much for a flat above a shop in a rotten area.
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