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Purley - Webb Estate

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Hi All

Long term lurker and house price bear here finally decided to post for advice. I sold my last house in Aug 07 ( :P ) and have been sat with cash in the bank for the past 2 years. Circumstances are forcing me back into the market now (kids, school etc), although I think prices will decline further next year when Mr Osborne finally puts the governments cheque-book away.

I’m looking at the top (ish) end of the market in the Purley area (roughly £1.5m) and was hoping there are some Webb estate experts on the board. According to property bee, prices are all heading in one direction – we are looking at the three houses below …

South Border 1.75m

South Border B 1.75m

Promenade De Verdun 1.65m

They have all been reduced from asking prices of approximately £2m at the start of 2008. I’m tempted to go in at £1.3m which represents a 35% decline from peak on all three and see what happens. I have two questions:

1) Will Webb estate properties hold their premium over the surrounding area?

2) How low do people think these properties can go when inflation hits at the back end of 2010?

I'm also interested to hear people's general observations on the area.

Thanks for all of your help in advance.

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Fudge?

Eh? Thanks for the helpful advice!!

I'm thinking of waiting until the new year so will hold off for viewing these for now - I have a feeling they will be going no where. Still interested to hear peoples views?

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My father was brought up in one of the big houses in Rose Walk and my uncle had one of the houses on the green. We lived in Furze Lane (or at least my family did - we moved to Cumbria before I was born).

It has always been a very sought-after area, so in theory, houses should do well there. Having said that, it is not immune to the downturn in the financial industry, which is where I imagine a lot of people come from these days. And you have pointed out, there are a few reductions.

Of course, it's all completely kitsch. The village green has fake stocks in it. Should have been used for putting the bankers in IMHO.

As always, if you can afford it and want to live there, then put in your hardball offers.

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Hi All

Long term lurker and house price bear here finally decided to post for advice. I sold my last house in Aug 07 ( :P ) and have been sat with cash in the bank for the past 2 years. Circumstances are forcing me back into the market now (kids, school etc), although I think prices will decline further next year when Mr Osborne finally puts the governments cheque-book away.

I’m looking at the top (ish) end of the market in the Purley area (roughly £1.5m) and was hoping there are some Webb estate experts on the board. According to property bee, prices are all heading in one direction ��" we are looking at the three houses below …

South Border 1.75m

South Border B 1.75m

Promenade De Verdun 1.65m

They have all been reduced from asking prices of approximately £2m at the start of 2008. I’m tempted to go in at £1.3m which represents a 35% decline from peak on all three and see what happens. I have two questions:

1) Will Webb estate properties hold their premium over the surrounding area?

2) How low do people think these properties can go when inflation hits at the back end of 2010?

I'm also interested to hear people's general observations on the area.

Thanks for all of your help in advance.

I was born and bread locally, very lovely resi area and highly desirable. Purley has gone very downhill high Street wise and so has Croydon. The traffic is not getting any better, good schools available though. Rent for another two years not buy if you can.

A. Yes

B. Another 20% decline.

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In the map view, switch to Bird's Eye View. Look at the green in centre of the estate - some chav obviously drove all over the green and ripped the grass up. Nice.

Check the crime statistics - it seems like a target-rich environment.

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In the map view, switch to Bird's Eye View. Look at the green in centre of the estate - some chav obviously drove all over the green and ripped the grass up. Nice.

Check the crime statistics - it seems like a target-rich environment.

Thanks - not trying to put me off or anytthing! Crime can't be any worse than whee we currently are in West Kensington!

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Eh? Thanks for the helpful advice!!

Sorry, a bit cryptic... suggest PM a chap on here by the name of Fudge - I am sure he would be very happy to chat about this.

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Looks like one is still for sale , one is sold STC and the other has been withdrawn from the market - I'll give it another 6-12 months and then we'll see some real price falls. This is hardly super-prime territory.

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Ex-resident here too, although my old house used to form part of the Victorian red light district that served ther webb estate - according to the old woman next door anyway.

Given that the houses on the Webb estate are millionaire mansion like and have swimming pools and tennis courts one suspects that they will never be sold cheaply! I also suspect the average Webb estate resident doesn't go down the Farmers for a pint after work so isn't too bothered about the high street! For anyone who isn't familiar have a look round on google maps....

http://maps.google.co.uk/maps?ll=51.3389,-0.133488&spn=0.001749,0.00375&t=h&z=18

I always liked purley from a practical point of view - 24hr trains, 20mins into Victoria/London Bridge, Tesco sells everything. Statistically one of the safest wards in the country and I always felt safe too. Practicalities aside it's not ideal... traffic around the Purley cross was always bad tempered and jammed, the high street offers almost nothing and local facilities are pretty poor (there's an old swimming pool that may or may not close down at any time), not much green space within walking distance but lots if you drive/bike. State schools are not great and one of the reasons I eventually moved.

Property for the "average folk" is very reasonable and seems in demand. I bought a house in 2005 and sold it for a nice profit in 2009 after not spending a penny on it. Sold on day one too! This was on a starter graduate wage too. So personally I'm glad I didn't heed the advice of the all knowing folk on HPC but maybe I'm just lucky (or some kind of genius ;)!).

I think the CR post code helps keep prices down, look at what 1.5m gets you in Richmond or Kingston! If a big house was my cup of tea (it's not) I'd go for a Webb mansion in Croydon over a town house in the SW.

Edited by Orbital

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I think the CR post code helps keep prices down, look at what 1.5m gets you in Richmond or Kingston! If a big house was my cup of tea (it's not) I'd go for a Webb mansion in Croydon over a town house in the SW.

It is funny that you should post this today. I drove from Surbiton to Croydon and back last night, and was impressed with quite a number of the areas that would have fallen under CR or SM postcodes. I think that people just think of CR as West Croydon or Mitcham and ignore the fact that there are actually a lot of good areas in each as well.

I had a quick look at prices when I got back. For the same type of house, there appears to be a 10-20% price difference per postcode as you move east from TW to KT to SM to CR.

In practical terms, that means you can buy a house in a nice part of 'SM' (say South Sutton) for the same or less than an equivalent-sized house in a poor part of 'KT' (say Tolworth). This amazes me, as there is no logical reason for it. It can't even be 'snob value' as I doubt many snobs live in Tolworth!

When you compare 'TW' to 'CR', you could be looking at double the price or much more. The other problem with 'TW' (and to a lesser extent 'KT') is that the most sought after parts are truly astronomical - £600k+ for a small terrace in central Richmond compared to £250k for the same house on the outskirts of Twickenham.

I have lived in Surbiton for quite a few years and still enjoy the fast trains, the river, access to Hampton Court Park/Bushy Park and the fact that I can walk to Kingston without actually having to live somewhere so busy. For me, the extra price is worth it, but only because I only need to live in a flat. If I needed a house, I'd be going further east immediately!

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