Sevenoaks

[Bobajobbob]

I am currently looking for a house in Sevenoaks and have discovered that there is practically nothing on the market in the size/budget I am looking for. Is this simply symptomatic of the current conditions or is this normal for this part of the world?

[Tim Miller]

I am currently looking for a house in Sevenoaks and have discovered that there is practically nothing on the market in the size/budget I am looking for. Is this simply symptomatic of the current conditions or is this normal for this part of the world?

If your smart you will rent for a couple of years!

[Patient FTB]

My wife and I were looking to rent or buy in the Sevenoaks area but the quantity and quality of available houses seems to be really low at present.

Following a couple of months spent viewing houses we have made an offer on a rental place which is currently proceeding. The quality of rental places we saw was shocking and nice places in this part of the world seem to be snapped up very quickly. If you are interested in renting you need to check the market frequently and be prepared to move very quickly. Similar to the London market in that respect.

In relation to houses for sale, people in this area seem to be in complete denial and houses are typically on the market at 2007 peak prices or higher. Some of the valuations are absolutely laughable.

Where does it go from here? Not sure, but I decided that I'm out of the game for the time being. If houses come down in price I will consider buying in this area. If not, I'm perfectly happy to rent the house we have found for the next 10-15 years. I always expected to leave the UK and buy a place overseas at some point. Had expected to own a place in the UK first, but I'm getting used to the idea of skipping that step and never owning a house in the UK. C'est la vie.

[Tim Miller]

My wife and I were looking to rent or buy in the Sevenoaks area but the quantity and quality of available houses seems to be really low at present.

Following a couple of months spent viewing houses we have made an offer on a rental place which is currently proceeding. The quality of rental places we saw was shocking and nice places in this part of the world seem to be snapped up very quickly. If you are interested in renting you need to check the market frequently and be prepared to move very quickly. Similar to the London market in that respect.

In relation to houses for sale, people in this area seem to be in complete denial and houses are typically on the market at 2007 peak prices or higher. Some of the valuations are absolutely laughable.

Where does it go from here? Not sure, but I decided that I'm out of the game for the time being. If houses come down in price I will consider buying in this area. If not, I'm perfectly happy to rent the house we have found for the next 10-15 years. I always expected to leave the UK and buy a place overseas at some point. Had expected to own a place in the UK first, but I'm getting used to the idea of skipping that step and never owning a house in the UK. C'est la vie.

I know Sevenoaks reasonably well, I lived in Godstone (West of you, past Westerham and Oxted) for many, many years and owned a commercial property in Sevenoaks. It is a nice area, however we (or rather you as I live abroad now) should let the Spring / Summer bounce run it's course and reality hit again. For what it is worth I see at least another 20% drop coming. I was in property investments, still have friends in it, all are crapping themselves who are locked in. I can understand that people think the worst is over, best buy when we are back to forced sales. Good luck what ever you decide to do.

[LandOfConfusion]

In relation to houses for sale, people in this area seem to be in complete denial and houses are typically on the market at 2007 peak prices or higher. Some of the valuations are absolutely laughable.

I live near Sevenoaks and my neighbour is selling. So far and after 6 months on the market he's had no interest whatsoever. Nothing. But then I suppose that's what happens when you put your 3 bed semi on the market for 8x 'average' national wage (10x local average).

Edited November 4, 2009 by LandOfConfusion

[Patient FTB]

I live near Sevenoaks and my neighbour is selling. So far and after 6 months on the market he's had no interest whatsoever. Nothing. But then I suppose that's what happens when you put your 3 bed semi on the market for 8x 'average' national wage (10x local average).

I've lived in the area for a couple of years now and many of the houses on the market when I moved to the area have been on and off a couple of times with different agents, different asking prices. No takers because the asking prices are a joke.

3 bed house in our village came onto the market at over £600k. Been on the market ages and has now been reduced to the bargain price of £599k.

4 bed bungalow just up the road on the market for £630k.

The above are not exceptions. These are pretty average asking prices in this area. Hence nothing is selling. A serious reality check is needed.

[Bobajobbob]

If your smart you will rent for a couple of years!

This is very much an option but even on the rental side there is not a great deal to choose from. I would agree with all the posters that the prices are ridiculous for the few houses on the market but perhaps not so scary as we are moving from London where prices are equally stupid. We have managed to sell (fingers crossed) in London in this mini boom and from a purely financial perspective I would prefer to rent for a year and see what happens however when you factor in the kids and the hassle of moving and the equity that we will have in any house we buy I would also be comfortable buying just as long as it was a house I really wanted to live in.

[Bobajobbob]

My wife and I were looking to rent or buy in the Sevenoaks area but the quantity and quality of available houses seems to be really low at present.

Following a couple of months spent viewing houses we have made an offer on a rental place which is currently proceeding. The quality of rental places we saw was shocking and nice places in this part of the world seem to be snapped up very quickly. If you are interested in renting you need to check the market frequently and be prepared to move very quickly. Similar to the London market in that respect.

In relation to houses for sale, people in this area seem to be in complete denial and houses are typically on the market at 2007 peak prices or higher. Some of the valuations are absolutely laughable.

Where does it go from here? Not sure, but I decided that I'm out of the game for the time being. If houses come down in price I will consider buying in this area. If not, I'm perfectly happy to rent the house we have found for the next 10-15 years. I always expected to leave the UK and buy a place overseas at some point. Had expected to own a place in the UK first, but I'm getting used to the idea of skipping that step and never owning a house in the UK. C'est la vie.

What sort of price range are you looking in if that isn't too rude a question?

[Tim Miller]

This is very much an option but even on the rental side there is not a great deal to choose from. I would agree with all the posters that the prices are ridiculous for the few houses on the market but perhaps not so scary as we are moving from London where prices are equally stupid. We have managed to sell (fingers crossed) in London in this mini boom and from a purely financial perspective I would prefer to rent for a year and see what happens however when you factor in the kids and the hassle of moving and the equity that we will have in any house we buy I would also be comfortable buying just as long as it was a house I really wanted to live in.

I can understand your thoughts, kids change everything, you could sell the kids into slavery..............just a thought.

I think the advantage of renting is you get to know the area better and the agents.

[Patient FTB]

What sort of price range are you looking in if that isn't too rude a question?

Was looking to pay up to £400k for a 3/4 bedroom place with a bit of a garden. Wanted more for my money than is available so have opted to rent instead.

You are absolutely right with your assessment of the quality of rental stock at the moment. Unless you are willing to overpay many of the places are not up to much. I think we got lucky with the place we have found but it took us a couple of months watching the market to get it. Nice family houses aren't on the rental market for long in this area.

[Mikhail Liebenstein]

And what is wrong is Maidstone, I am sure Sibley can show you the ropes.

[Bobajobbob]

I can understand your thoughts, kids change everything, you could sell the kids into slavery..............just a thought.

I think the advantage of renting is you get to know the area better and the agents.

Kids would make lousy slaves, lazy little sods. You are absolutely right on your second point. I don't know for sure but I get the impression that this is a destination for a lot of people leaving London with their families just as we are. Accordingly the agents and sellers can price their places on the high side without shocking the prospective buyers too much and when there is very little on the market it is nigh on impossible to get a benchmark for relative value.

My only worries about renting really are that we will be more likely to compromise on the house and thus the positive impact of the move out of town may be a bit disappointing. The other worry is having a serious chunk of change to invest in the current environment. Funny though that may seem it could be quite stressful preserving its value.

[Bobajobbob]

And what is wrong is Maidstone, I am sure Sibley can show you the ropes.

Dunno never heard of it.

[Tim Miller]

Dunno never heard of it.

Maidstone is the epicentre of HPI according to Sibley, do keep up!

[Tim Miller]

Kids would make lousy slaves, lazy little sods. You are absolutely right on your second point. I don't know for sure but I get the impression that this is a destination for a lot of people leaving London with their families just as we are. Accordingly the agents and sellers can price their places on the high side without shocking the prospective buyers too much and when there is very little on the market it is nigh on impossible to get a benchmark for relative value.

My only worries about renting really are that we will be more likely to compromise on the house and thus the positive impact of the move out of town may be a bit disappointing. The other worry is having a serious chunk of change to invest in the current environment. Funny though that may seem it could be quite stressful preserving its value.

It is indeed very tricky, the brain says rent the heart says buy. I think the point is what you first wrote, houses and sellers expectations are vastly too high, a reality check is needed and is predicted to come. By waiting I would hope vendors will be glad to accept and offer of perhaps -10 to 15 % where at the moment they want to only accept -5%. Give it a year or two and there will hopefully albeit sadly more forced sellers at reduced prices as well. I would like to think in 18 months you could save 20%. The trouble is the area you are looking at has in my opinion gone up more than others not so far away. 30 years ago Tunbridge wells / Sevenoaks etc was up to 30% cheaper than where I grew up in Warlingham Surrey, now I think it is at least the same if not more. Just look at how may quality up market estate agents are in these towns now.

Regarding the kids, I would recommend adoption if they get in the way of buying a house, you could then go for less bedrooms, quality not quantity...................just another thought. Mention it in passing so to speak next time they play up.

[skomer]

It is indeed very tricky, the brain says rent the heart says buy. I think the point is what you first wrote, houses and sellers expectations are vastly too high, a reality check is needed and is predicted to come. By waiting I would hope vendors will be glad to accept and offer of perhaps -10 to 15 % where at the moment they want to only accept -5%. Give it a year or two and there will hopefully albeit sadly more forced sellers at reduced prices as well. I would like to think in 18 months you could save 20%. The trouble is the area you are looking at has in my opinion gone up more than others not so far away. 30 years ago Tunbridge wells / Sevenoaks etc was up to 30% cheaper than where I grew up in Warlingham Surrey, now I think it is at least the same if not more. Just look at how may quality up market estate agents are in these towns now.

Regarding the kids, I would recommend adoption if they get in the way of buying a house, you could then go for less bedrooms, quality not quantity...................just another thought. Mention it in passing so to speak next time they play up.

I suspect the big magnet Sevenoaks/Tun Wells/Tonbridge has for professionals working in the City & Canary Wharf is the local authority schools plus the good links into Central London these days. Kent has retained it's grammar schools, Surrey hasn't. Though I'm not sure what the locals think about the extra competition for places!

Also Woldingham is a bit too close to Croydon for comfort 30 years ago it was one of the more expensive boroughs in London these days its one of the cheapest

[Patient FTB]

My only worries about renting really are that we will be more likely to compromise on the house and thus the positive impact of the move out of town may be a bit disappointing.

Depending on your budget, you may have to compromise just as much if you are buying. I have been surprised at how little £500k gets you in this area.

We are in the process of agreeing rental terms on a 3 bed detached cottage with large garden on a quiet lane with the nearest house 200 metres away. Just what we were looking for and it is going to cost us far less to rent than it would to buy the place. From where I am it feels like we would have compromised on the house far more had we bought.

What are you in the market for?

[Bobajobbob]

I suspect the big magnet Sevenoaks/Tun Wells/Tonbridge has for professionals working in the City & Canary Wharf is the local authority schools plus the good links into Central London these days. Kent has retained it's grammar schools, Surrey hasn't. Though I'm not sure what the locals think about the extra competition for places!

Also Woldingham is a bit too close to Croydon for comfort 30 years ago it was one of the more expensive boroughs in London these days its one of the cheapest

That pretty much nails our reason for heading this way rather than the more predictable commuter towns in surrey, hertfordshire etc. Only 30 minutes into London and both public and private schools are very good. On top of this the countryside is beautiful, the coast not far away and there are some great roads for motorbiking

[Bobajobbob]

Depending on your budget, you may have to compromise just as much if you are buying. I have been surprised at how little £500k gets you in this area.

We are in the process of agreeing rental terms on a 3 bed detached cottage with large garden on a quiet lane with the nearest house 200 metres away. Just what we were looking for and it is going to cost us far less to rent than it would to buy the place. From where I am it feels like we would have compromised on the house far more had we bought.

What are you in the market for?

In the perfect world a detached 5 bedder with a big garden. In this perfect world we'd head a few miles out of sevenoaks where you can get an awful lot for your money but given that we both need to commute at least for the next few years we need to be within a short hop of the station so actually in Sevenoaks proper. Budget is a million or so which sounds a lot but doesn't appear to buy so much when you limit your search area.

[Patient FTB]

In the perfect world a detached 5 bedder with a big garden. In this perfect world we'd head a few miles out of sevenoaks where you can get an awful lot for your money but given that we both need to commute at least for the next few years we need to be within a short hop of the station so actually in Sevenoaks proper. Budget is a million or so which sounds a lot but doesn't appear to buy so much when you limit your search area.

Wow - big budget. I can understand why you would be nervous playing with that kind of money. It could be very easy to buy a place and realise you could have got it for £200k less if the market slips back.

You shouldn't have too much of a problem getting what you want within your budget when properties are put back on the market over the next 6-12 months. Over the past year or so I've seen plenty of places fitting your description - just don't seem to be many around at the moment.

Sevenoaks is fine, but I'd look a few miles outside personally. Some nice countryside around these parts (particularly nice in the autumn), but Sevenoaks itself is pretty unremarkable. Anywhere else in the country (without a 30 min train ride to London) and you wouldn't give it a second look.

[Bobajobbob]

Wow - big budget. I can understand why you would be nervous playing with that kind of money. It could be very easy to buy a place and realise you could have got it for £200k less if the market slips back.

You shouldn't have too much of a problem getting what you want within your budget when properties are put back on the market over the next 6-12 months. Over the past year or so I've seen plenty of places fitting your description - just don't seem to be many around at the moment.

Sevenoaks is fine, but I'd look a few miles outside personally. Some nice countryside around these parts (particularly nice in the autumn), but Sevenoaks itself is pretty unremarkable. Anywhere else in the country (without a 30 min train ride to London) and you wouldn't give it a second look.

We are pretty much mortgage free at the moment and have been lucky with the London market thus the budget. If we didn't require the link to London we wouldn't be anywhere near Kent. Oxfordshire and Hampshire are my old stomping grounds but as long as I have to work in London I'm not prepared to waste my life on trains. The move is really very much about the kids and giving them more space and decent schools with the option of grammar school down the road so we don't have to commit to penury sending them private. I'd hope that 5 years down the road we can break the link to London, head out further or abroad and really find a big old gaff with some land. Just hard to give up London salaries at the moment and seems churlish not to take them and save as much as we can while we can.

Having said that Sevenoaks seems to have a lot going for it. High street isn't too depressing, Knole Park is beautiful, housing stock is for the most part good from what I've seen, architecture isn't too post war depressing, Tbridge Wells is a short drive for better shopping, Gatwick not too far for flying, Brand Hatch not too far for racing, Dover not too far for France. But then I guess you already know that.

[jethrotull]

Sevenoaks is the only place in Kent under 45 minutes to London with a decent High Street. Pantiles is OK, but with the new timetable the journey to CST is getting slower. Be careful though, as apart from a few smart places you're in the Medway towns unique culture.

What amazed me is that prices in Sevenoaks are now outstripping Surrey. Tandrige Borough is suffering from being too near Croydon and Gatwick, and is losing out.

I used to commute in from Hampshire, but it was the 20 minutes from Waterloo to the office in the City that finished me off. I'd rather be further West, but I can't stand ever going on the Tube again. I just can't face the tube any more. What worries me is that I am so old now I can't stand all the way on the train anymore. Standing for 50 minutes is impossible when you're my age.

I went to Knole Park on Saturday. It was lovely.

[worried1]

What amazed me is that prices in Sevenoaks are now outstripping Surrey. Tandrige Borough is suffering from being too near Croydon and Gatwick, and is losing out.

Do you think that being close to Croydon makes that much difference? I know it is a hole, but surely if you are a few miles away it would just not make any difference. I live a mile away from Kingston upon Thames. I realise it is not anything as bad as Croydon, but it still a big town with problem nightclubs and traffic. Being just one mile away, I hardly get any of these downsides and I think it actually adds to the house prices here.

As commuter towns go, I think that Sevenoaks is one of the very best. For years, the prices were cheaper than equivalent towns, mainly because it is in Kent rather than Surrey. As mentioned earlier, this is actually an advantage because of the better state schools.

The important difference between Sevenoaks and the Surrey commuter towns (Esher, Weybridge etc) is the train service that connects to Cannon Street and London Bridge rather than just Waterloo. The travel on the unreliable Waterloo & City line adds a significant amount of time to the overall commute.

I think Sevenoaks is a bit more down to earth than a lot of the other towns as well (obviously this will appeal to some more than others). It has the feeling of a proper town centre, rather than a group of bars and restaurants surrounded by loads of private roads. There is a Wetherspoons pub and a Subway, perhaps not good things, but shows it is quite a balanced place - I doubt that you'd ever see those in Esher!

The massive influx of footballers and bankers into Weybridge, Esher and Cobham leave that area at risk of becoming the 'new Essex', and I think a lot more people will consider Sevenoaks as a better alternative.

[Patient FTB]

Do you think that being close to Croydon makes that much difference? I know it is a hole, but surely if you are a few miles away it would just not make any difference. I live a mile away from Kingston upon Thames. I realise it is not anything as bad as Croydon, but it still a big town with problem nightclubs and traffic. Being just one mile away, I hardly get any of these downsides and I think it actually adds to the house prices here.

As commuter towns go, I think that Sevenoaks is one of the very best. For years, the prices were cheaper than equivalent towns, mainly because it is in Kent rather than Surrey. As mentioned earlier, this is actually an advantage because of the better state schools.

The important difference between Sevenoaks and the Surrey commuter towns (Esher, Weybridge etc) is the train service that connects to Cannon Street and London Bridge rather than just Waterloo. The travel on the unreliable Waterloo & City line adds a significant amount of time to the overall commute.

I think Sevenoaks is a bit more down to earth than a lot of the other towns as well (obviously this will appeal to some more than others). It has the feeling of a proper town centre, rather than a group of bars and restaurants surrounded by loads of private roads. There is a Wetherspoons pub and a Subway, perhaps not good things, but shows it is quite a balanced place - I doubt that you'd ever see those in Esher!

The massive influx of footballers and bankers into Weybridge, Esher and Cobham leave that area at risk of becoming the 'new Essex', and I think a lot more people will consider Sevenoaks as a better alternative.

Sevenoaks has fantastic rail links into the City and the West End. It is near some excellent state schools, however the ones in Sevenoaks itself are lousy. It is surrounded by some lovely countryside. That is all.

The high street is a rag-tag collection of estate agents and out-dated retailers. Food shopping is dominated by the large out of town Sainsburys and Tesco. I have been amazed at the lack of high quality independent retailers in the town, though I do like the bookshop.

For me Sevenoaks represents the best compromise with access to London and some lovely countryside. Further down the trainline into Kent (Tonbridge, Tunbridge Wells etc.) feels considerably more provincial and detached from the cultural offerings of London.

If i had sufficient cash to live in a desirable part of London, I would. If I was able to secure well paid work in a more attractive rural part of the UK (or world), I would. Hopefully one day soon I will.

[worried1]

For me Sevenoaks represents the best compromise with access to London and some lovely countryside. Further down the trainline into Kent (Tonbridge, Tunbridge Wells etc.) feels considerably more provincial and detached from the cultural offerings of London.

I agree. That is the reason it will stay relatively expensive. Most people aspire either to living in London or the out in the sticks, but end up living in a suburb and find the nicest one they can.

The High Street is poor, but this does stop the town getting clogged up with visiting shoppers like Tunbridge Wells or Guildford. In actual fact, Sevenoaks High Street compares quite well with the likes of Weybridge and Esher.