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vanessa kensington

West London Going Bonkers

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In the last week, I have seen six houses go under offer in the £1m - £2m category in my local area, the W14, W6 and W12 postcodes of London.

I know for a fact (because the prospective buyer is a close friend of my husband's) that one of those properties (a four bed terrace townhouse in Brook Green, but towards Shepherd's Bush Green, not the smarter St Paul's) has gone under offer at £1.65m, which is 95% of the asking price. The house would have been lucky to achieve this price even at the peak of the 2007 market.

Today, a house in Hammersmith Grove, which was on the market at £1.65m for almost a year (its glass, steel, cheap wood veneer and cheaper uPVC interior renovation is totally at odds with the 1840s period of the house) has also gone under offer, and - according to the agent, who is no longer allowing viewings - at the asking price.

A neighbour has just sold his 600 square feet flat - gorgeous but a third floor walk-up in a street strewn with rubbish and dogshit, although close to both the tube and the Westfield - to a cash buyer at £365k, which again is what it would have fetched in 2007. .

Yet only last week, my husband's firm (one of Britain's largest law firms) announced 120 redundancies, the fourth wave of redundancies in the last 18 months, and a good friend - banker at one of the Japanese banks - also lost his job, along with the rest of his 22 strong team.

Anyone care to guess where this money is coming from, and whether it's going to run out??? I'm never going to be able to afford to have a child in this city at this rate, unless it sleeps in our bedroom until the day it goes to university.

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I agree Vanessa.

What are your thoughts on the Brook Green area? I am nervous about housebuying here as a recent excursion around the streets suggested an area on the downturn. Brackenbury and Brook Green seem crowded and with lots of large council estates in the back of Olympia, empty/closed pubs.

A sensible alternative might be Clapham? Between the Commons seems nicer with good housing stock for a young family around the 750k to 1M mark

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Yet only last week, my husband's firm (one of Britain's largest law firms) announced 120 redundancies, the fourth wave of redundancies in the last 18 months, and a good friend - banker at one of the Japanese banks - also lost his job, along with the rest of his 22 strong team.

I'm never going to be able to afford to have a child in this city at this rate, unless it sleeps in our bedroom until the day it goes to university.

Depends on what you want to buy. Million pound houses are out of my league and the majority of Londoners. BTW, we lived in a one bedroom flat when our first child was born for a few years. This was not great but the saying "cut your cloth according to your means" springs to mind. We were not about to put off starting a family for this reason or as we lived in rented accommodation. We still do and now have 2 children. Things will change, they always do and do not under any circumstances try and keep up with the Jones' It will end in tears. Just focus on your family's future over the longer term.

A sensible alternative might be Clapham? Between the Commons seems nicer with good housing stock for a young family around the 750k to 1M mark

You two exasperate me. A sensible alternative - 750k - 1M. :lol::lol: Not sensible in my view. You have been duped! Clapham is Clapham, not the EA's dreamt up description of 'between the commons.' Overpriced property..................for now.

P.s Please explain why 4 fairy cakes cost £5.00 on Northcote Road when I can buy them in Tooting for £2? Do you think it has anything to do with the sellers knowing idiots will buy them to prove they can?? The price is "ridiculous, just ridiculous" according to my better half!

Edited by Buffer Bear

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I agree Vanessa.

What are your thoughts on the Brook Green area? I am nervous about housebuying here as a recent excursion around the streets suggested an area on the downturn. Brackenbury and Brook Green seem crowded and with lots of large council estates in the back of Olympia, empty/closed pubs.

A sensible alternative might be Clapham? Between the Commons seems nicer with good housing stock for a young family around the 750k to 1M mark

These areas have always had a grotty element to them, there is enough crime and violence around them to keep these postcodes on the downturn for ever, ie lots of council flats which these days are only handed out to criminals and drug adicts. I worked around here for many years and regardless of any price rises there was never any real improvement. Good for Ken high st etc though and getting to the big parks up that way.

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[quote

P.s Please explain why 4 fairy cakes cost £5.00 on Northcote Road when I can buy them in Tooting for £2? Do you think it has anything to do with the sellers knowing idiots will buy them to prove they can?? The price is "ridiculous, just ridiculous" according to my better half!

This explains a lot. Muffins which are £1 for four in Tescos, sell at £1.89 each on the Motorways. I have often wondered just who bought them. Obviously it is insecure people wanting to flash their cash.

Perhaps we shoiuld have a new category of personality disorder... The Pathetics.

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Anyone care to guess where this money is coming from, and whether it's going to run out???

A wild guess would be the city.

Is the money going to run out ?? No.

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I'm never going to be able to afford to have a child in this city at this rate, unless it sleeps in our bedroom until the day it goes to university.

what's wrong with the sofa ?

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A sensible alternative might be Clapham? Between the Commons seems nicer with good housing stock for a young family around the 750k to 1M mark

Oh noes what an awesome idea! I am pregnant with our first child and *obviously* the child needs its own bedroom, a spare for friends, a playroom and a study. Our combined household income is <50k. Please to have a 1 mill quid house for a young family?

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Anyone care to guess where this money is coming from, and whether it's going to run out??? I'm never going to be able to afford to have a child in this city at this rate, unless it sleeps in our bedroom until the day it goes to university.

Probably money from overseas - the collapse of the pound has made London seem cheap. For example wealthy Italians have been buying big in London, especially West London. Much of that money is of slghtly dubious origin <_<

http://flarenetwork.org/blog/2009/12/28/the-british-connection-italian-mafia-finds-uk-good-for-business/

Its all part of the accellerating process of locals being priced out of more and more areas of London. Its no longer the favoured spots in the boroughs of K&C and Westminster presumably its moving further west now. With the new US embassy being built in Nine Elms! those coveted bits of Clapham Common, Battersea,Wandsworth are next in line

Perhaps the money will run out from abroad when the pound rises (or the euro collapses) or when the authorities no longer turn a blind eye to its origin :rolleyes:

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In the last week, I have seen six houses go under offer in the £1m - £2m category in my local area, the W14, W6 and W12 postcodes of London.

I know for a fact (because the prospective buyer is a close friend of my husband's) that one of those properties (a four bed terrace townhouse in Brook Green, but towards Shepherd's Bush Green, not the smarter St Paul's) has gone under offer at £1.65m, which is 95% of the asking price. The house would have been lucky to achieve this price even at the peak of the 2007 market.

Today, a house in Hammersmith Grove, which was on the market at £1.65m for almost a year (its glass, steel, cheap wood veneer and cheaper uPVC interior renovation is totally at odds with the 1840s period of the house) has also gone under offer, and - according to the agent, who is no longer allowing viewings - at the asking price.

A neighbour has just sold his 600 square feet flat - gorgeous but a third floor walk-up in a street strewn with rubbish and dogshit, although close to both the tube and the Westfield - to a cash buyer at £365k, which again is what it would have fetched in 2007. .

Yet only last week, my husband's firm (one of Britain's largest law firms) announced 120 redundancies, the fourth wave of redundancies in the last 18 months, and a good friend - banker at one of the Japanese banks - also lost his job, along with the rest of his 22 strong team.

Anyone care to guess where this money is coming from, and whether it's going to run out??? I'm never going to be able to afford to have a child in this city at this rate, unless it sleeps in our bedroom until the day it goes to university.

What's the point of living in London if you can't afford to have a house or a family?

Move out and even though you'll get paid less you'll have a higher standard of living and a better quality of life.

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What's the point of living in London if you can't afford to have a house or a family?

Move out and even though you'll get paid less you'll have a higher standard of living and a better quality of life.

But everywhere else is so dull and provincial. What would I do with all that spare time and money?

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When properties were selling at 2007 prices the world economy collapsed.

People buying houses at 2007 prices will cause themselves to collapse.

People really do believe house prices will just keep going up forever.

I suggest, and I dunno how many people on here will agree with me :lol:, they will go down down down.

There are some stupid people out there. Does mean you have to join in.

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When properties were selling at 2007 prices the world economy collapsed.

People buying houses at 2007 prices will cause themselves to collapse.

People really do believe house prices will just keep going up forever.

I suggest, and I dunno how many people on here will agree with me :lol:, they will go down down down.

There are some stupid people out there. Does mean you have to join in.

To be fair, it was US houses selling at 2007 prices that sparked the problems. Difference is, the Americans have allowed their home prices to fall.. we seem to prefer the idea of a Japanese style depression.

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This explains a lot. Muffins which are £1 for four in Tescos, sell at £1.89 each on the Motorways. I have often wondered just who bought them. Obviously it is insecure people wanting to flash their cash.

I can better that.

My local Tesco has a rack of Krispy Kreme doughnuts at 99p each, or by walking a half dozen aisles down the shop you can buy them from the Tesco bakery at 30p for four.

tim

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