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Zone 2 Slavebox, £295,000 = £840/sq Foot

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Sorry to post another stupidly priced property but this is 50% over the current bubble valuation, and probably 200% overvalued :blink:

£100k for one room is still way overvalued.

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Sorry to post another stupidly priced property but this is 50% over the current bubble valuation, and probably 200% overvalued :blink:

http://www.rightmove.co.uk/property-for-sale/property-30094997.html

I lived on that street for about a year a while back. Hampstead is a ridiculously nice area - it's one of the most desirable neighbourhoods not just in London but probably anywhere in the world. I'd easily pay 150k for this, maybe even 200k but I'm the sort of person who doesn't need space - for me location is everything. But 300k really is taking the pi55. You'd probably find that sort of price per sq ft in the sought after areas of Manhattan as well. It's what happens when so much silly banker money distorts the market (the City loves Hampstead).

I just can't see tiny studios breaking the 300k barrier though, even in the best areas and even if the stupid bonuses continue. At best the price won't go anywhere for a veeeeeery long time. Which is why I don't understand what causes a supposedly smart City type to think that this could be a wise investment. Someone looking for a pied a terre could spend a lot less by renting. But with the type of money those parasites earn this is probably just one year's bonus for an "average" vampire squid employee so these petty calculations don't come into play.

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'wonderful first time buy, or pied a terre.Studio Room'

Ok whats a 'pied a terre' ? A stupid ****?

a potato of course.

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Sorry to post another stupidly priced property but this is 50% over the current bubble valuation, and probably 200% overvalued :blink:

http://www.rightmove.co.uk/property-for-sale/property-30094997.html

IT's a very expensive box. People who buy this sort of thing think they are well off, getting up at 5.30 to rush into the city and trade metals or equities! Nice area, but even so, the world is most probably mad.

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Yeah, a couple and a young child living in a studio.

But near a good school for the child, in a respectable postcode. His and hers, BMW and Golf in the drive.

Welcome to 21st century Britain.

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TBH it doesn't look overpriced compared to the rest of the street.

It's a decent sized studio that could easily be converted into a one bed flat and the last "real" flat in the street sold for 820K at the bottom of the crash!

And in 2007 one sold for 2.5 mil!

Just becasue you wouldn't pay that much (per square foot) to live there, doesn't make it wrong that others do

tim

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TBH it doesn't look overpriced compared to the rest of the street.

It's a decent sized studio that could easily be converted into a one bed flat and the last "real" flat in the street sold for 820K at the bottom of the crash!

And in 2007 one sold for 2.5 mil!

Just becasue you wouldn't pay that much (per square foot) to live there, doesn't make it wrong that others do

tim

How could it be coverted into a 1 bed flat , and don't say put the kitchen in the living room and make the present kitchen the bedroom it's far to small .

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TBH it doesn't look overpriced compared to the rest of the street.

It's a decent sized studio that could easily be converted into a one bed flat and the last "real" flat in the street sold for 820K at the bottom of the crash!

And in 2007 one sold for 2.5 mil!

Just becasue you wouldn't pay that much (per square foot) to live there, doesn't make it wrong that others do

tim

They weren't paying that much to live there, they were paying that much for an investment they believed they could sell for more in a few years' time. The figures you are quoting have almost nothing to do with how much carpet and brick they were buying and which shops and schools were nearby. That's what a bubble is.

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I lived on that street for about a year a while back. Hampstead is a ridiculously nice area - it's one of the most desirable neighbourhoods not just in London but probably anywhere in the world. I'd easily pay 150k for this, maybe even 200k but I'm the sort of person who doesn't need space - for me location is everything. But 300k really is taking the pi55. You'd probably find that sort of price per sq ft in the sought after areas of Manhattan as well. It's what happens when so much silly banker money distorts the market (the City loves Hampstead).

Agreed. It is a nice area, I looked to rent there briefly (but my offer was beaten by a pair of students, who were prepared to take a full 12 month AST fully paid up-front) so know it quite well. In retrospect, it was probably a good thing, as the amount of money I would have been paying would have been excessive.

However, the banker markets for 'pieds-a-terre' have distorted the price just as much more central. I know some consultants at central London hospitals - and in terms of prestige there are several central London hospitals with outstanding international reputation. However, there is a problem with working there - it's a contractual obligation to live within 15 minutes commute (in case of emergency). However, on the NHS consultant salary of £70k, it's financially infeasible to buy/rent anything other than a studio flat within the required area. And if you have family, where you need to maintain a family home in a different area, then it simply isn't achievable.

One thing I had noticed in London, is that consultant staff seem obsessed with doing private work at weekends and evenings - in reality it seems that it is the only way they can continue in their NHS job - the NHS salary alone doesn't provide the salary required to meet the contractual obligations!

Edited by ChumpusRex

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Agreed. It is a nice area, I looked to rent there briefly (but my offer was beaten by a pair of students, who were prepared to take a full 12 month AST fully paid up-front) so know it quite well. In retrospect, it was probably a good thing, as the amount of money I would have been paying would have been excessive.

However, the banker markets for 'pieds-a-terre' have distorted the price just as much more central. I know some consultants at central London hospitals - and in terms of prestige there are several central London hospitals with outstanding international reputation. However, there is a problem with working there - it's a contractual obligation to live within 15 minutes commute (in case of emergency). However, on the NHS consultant salary of £70k, it's financially infeasible to buy/rent anything other than a studio flat within the required area. And if you have family, where you need to maintain a family home in a different area, then it simply isn't achievable.

One thing I had noticed in London, is that consultant staff seem obsessed with doing private work at weekends and evenings - in reality it seems that it is the only way they can continue in their NHS job - the NHS salary alone doesn't provide the salary required to meet the contractual obligations!

For heaven sake , £70k a year and priced out , its amazing i think all London is going to unaffordable for anyone but the megga rich the way things are going.

Even areas that were not worthy of pis--ng in 20 years back are going to be for millionairs only soon.

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You know the area then Tim?

Can you post your information please as I can't believe people paying that, for THAT! :o

Erm, it's London, it's one of London's more expensive areas. And it's a 1 bed studio for 300K. I KNOW it's over priced but it ISN'T unusual. This is London prices, nothing more ridiculas about this place than any other in London at the minute.

Our flat is in a cheap(er) area of London, its overpriced and under spaced, it is 'valued' at circa 260K and with the money we could afford to buy a family home in Sheffield.

It's crap. It's London prices. It's worng. But it's happening.

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  • 261 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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