Jump to content
House Price Crash Forum

Recommended Posts

October update 4-bed

SW12: available/STC

Aug: 30/15

Sep: 32/16

Oct: 43/13

Nov: 32/16

B01 785,000 Pentney,

aspire

Aug:STC

B02 735,000 Pentney, new registration

aspire

Aug: STC Oct: new reigistration

B03 729,950 Haverhill

Jacksons

Aug: STC Oct:sold or withdrawn

B04 699,950 Hydethorpe

aspire

Aug: STC, Nov: SoldoW

B05 600,000 Hydethorpe

D&G

"for development or investment"

Oct: withdrawn (or sold), probably now A09

B06 769,950 Scholars

Jacksons

Simple but nicely decorated (magnolia).

Sep: new Oct: STC

B07 749,950 Scholars

KFH

Looks a little dated, but freshly painted (white). Pebble dash exterior.

Sep: new, Oct: new price 699,950, Nov: STC

B08 769,950 Pentney

Jacksons

Oct: new and STC

B09 725,000 Hydethorpe

aspire

Nov: new

Summary of November action: one sold, one STC, one new on market.

It does look as if things are still slowly moving. I'm sure there have been periods in the past when there was less action, although that is just a subjective opinion.

Link to post
Share on other sites
  • Replies 286
  • Created
  • Last Reply

Top Posters In This Topic

November rentals SW12: 3-beds: 4-beds: available/LA

Oct: 12/4

Nov: 12/4, 30/1

(I've added 4 beds, as the numbers of 3 beds might be too low for a good sample size)

Hydefarm (3 and 4-beds)

480 Scholars ,3, Andrews, (since Aug)

625 Hydethorpe (4-bed), Green (since Oct)

500 Hydethorpe, 3, aspire, new Nov

600 Hydethorpe, 4, Jacksons, new Nov. This is the same property as A06, on sale as a thre bed house for 649,950.

Back of envelope maths

to rent 52*600=32,200

to buy 649,950 *5% = 32,498 (+maintenance etc)

Bit disappointed with that comparison, as it suggests prices not so massively overvalued as I assumed. However 600 is pretty much at the top of the rang to be asking for a rental. They seem to vary quite widely from under 400, to 600, for pretty much the same looking houses. Obviously the actual mortgage rate will make a very significant difference.

Link to post
Share on other sites
  • 2 weeks later...

Can anyone tell the difference between:

1) http://www.rightmove.co.uk/property-for-sale/property-17543730.html

£1,095,000

A stunning six bedroomed detached house boasting spacious and modern living over three floors with generous open-plan living spaces, integrated sound systems, garden and off-street parking.

date event

Friday, December 03, 2010 5:57:51 AM

2) http://www.rightmove.co.uk/property-for-sale/property-28237882.html?premiumA=true

£1,095,000

6 bedroom detached house for sale

date event

Wednesday, November 24, 2010 10:20:23 PM

* Status changed: from 'New Listing' to 'Available'

Monday, October 25, 2010 5:53:53 PM

* Status changed: from 'Available' to 'New Listing' [Found by n/a]

Saturday, October 23, 2010 4:48:34 PM

* Brief Description changed: BIG IS BEAUTIFUL A spacious & contemporary six 6 bedroom house arranged over three 3 floors, which has been finished to an exceptional exceptionally high standard throughout. The property also comprises three offers open plan living 3 bathrooms (two (2 ensuite), two further w.c's. & 2 WCs and a self contained games room. [Found by n/a]

Wednesday, October 20, 2010 6:56:34 AM

3) http://www.rightmove.co.uk/property-for-sale/property-15474408.html

£1,095,000

7 bedroom detached house for sale

History

date event

Saturday, April 24, 2010 8:51:02 AM

4) http://www.rightmove.co.uk/property-to-rent/property-30792698.html

To rent £5.5k pcm

5 bedroom detached house to rent

History

date event

Tuesday, August 17, 2010 12:12:39 PM

* Initial entry found. [Found by n/a]

Fairly desperate to list it 4 times on Rightmove?

If it's not selling, what can we do ... I know let's add another estate agent

Link to post
Share on other sites
  • 1 month later...

No crash here.

http://www.globrix.com/property-details/29836550-pentney_road-london-sw12-3_bed-terraced_house

On for £645k, needs "a lot" (£100k?) of work doing on it ... not been updated in 30+ years - no loft conversion, no kitchen extension &c.

Estate agent: Cheeky offer (sub £600k) rejected, expects to sell at close to asking.

So price = £645k + £100k work + £ for any nasty surprises.

Highest ever price in this road ... £800k for a similar, converted/done up house.

So pretty much peak price.

Link to post
Share on other sites
  • 4 weeks later...

I've been house hunting in Balham for the past few weeks, and I can say that the market seems extremely bouyant, with lots of buyers looking. Every week I try to book Saturday appointments, by Tuesday or Wednesday some of the agents are already all fully booked up. Boom times returning? I think so.

Properties have also been selling really quickly, especially the HydeFarm ones with the Henry Cavendish School and the Telferscot School roads arounds flying off the shelfs. I've been looking at 2-bedroom maisonettes there - have seen myself that they're going for asking price mainly or in one case above, with many bidders. And these are 70sqm ground floor maisonettes, with a small 2nd bedroom, being priced at £425k!! Its literally at the peak prices and in some cases exceeded already.

Too many buyers, not enough sellers, and first time buyers getting desperate; not a good combination as they are offering silly amounts of money to desperately secure any half-decent property.

Edited by Boon
Link to post
Share on other sites

I've been house hunting in Balham for the past few weeks, and I can say that the market seems extremely bouyant, with lots of buyers looking. Every week I try to book Saturday appointments, by Tuesday or Wednesday some of the agents are already all fully booked up. Boom times returning? I think so.

Properties have also been selling really quickly, especially the HydeFarm ones with the Henry Cavendish School and the Telferscot School roads arounds flying off the shelfs. I've been looking at 2-bedroom maisonettes there - have seen myself that they're going for asking price mainly or in one case above, with many bidders. And these are 70sqm ground floor maisonettes, with a small 2nd bedroom, being priced at £425k!! Its literally at the peak prices and in some cases exceeded already.

Too many buyers, not enough sellers, and first time buyers getting desperate; not a good combination as they are offering silly amounts of money to desperately secure any half-decent property.

I'm seeing stalemate in Balham other than places in good school catchment area or really well presented. If Saturdays are booked up it is because agencies reduced their staff over a very quiet few months and haven't bolstered up Saturday staff yet ready for Spring interest. Agents of course also like to create a feel that all is busy and bouyant. It is the time of year when bonus holders come out to play so there will be some movement but I'd be amazed if it's the start of any new boom. If you go into housprices.co.uk and put in sw12 in sold prices you see the number of registered sales in SW12 - it's getting smaller and smaller by the month. December will get some more sales added, go back to October and you only see 47 sales for the whole of SW12 as opposed to 66 in Oct 2007

Need small stakes back with their analysis!

Edited by TeddyBear
Link to post
Share on other sites

I know the area well. 1 MILL for that is completely insane.

Definitely. That is one of the drabest roads, as lots of cars going through it, and the buildings opposite are rundown as all are investor-owned and rented out (because they face the tracks at the back).

Link to post
Share on other sites

Feb 2011 update

3-bed

SW12: available/STC

Aug: 38/21

Sep: 37/19

Oct: 42/17

Nov: 38/15

2011

Feb: 31/20

A01 715,000 Haverhill new registration aspire

very good condition, extra bathroom so must have loft extension, kitchen appears to be extended

Aug:STC, Oct: new registration, Feb: no change

A02 699,950 Scholars Jacksons

good condition, kitchen extended sideways

Aug: STC, Nov: Sold (or withdrawn)

A03 695,000 Haverhill James Pendleton

good condition

Aug: STC, Oct: available, Nov: STC, Feb: Sold

A04 649,950 Haverhill Jacksons

Average condition, small kitchen

Aug: STC Oct: available, Nov: EA changed to KFH, STC, Sold (busy month)

A05 649,950 Haverhill James Pendleton

good condition, nice kitchen

Aug STC Oct: sold or removed

A06 649,950 Hydethorpe KFH

average condition

Aug: STC, Feb:sold

A07 630,000 Haverhill KFH

cheap looking refurb

Aug:STC Oct: sold or withdrawn

A08 609,950 Hydethorpe , relisting bushells

average - good condition

Aug: available Sep: new price 599,950 Oct: new price 575,000 Feb: STC

A09 600,000 Hydethorpe iSold.com

no picture. I suspect this is a relisting of B05

Oct: available

A10649,950 Hydethorpe James Pembleton

frilly decoration, small conservatory

Nov: New

A11 645,000 Pentney Andrews

Archway in kitchen, kitchen needs updating

Feb: New, STC

So, in the three months to end of Feb, 2 properties sold, and only one new property which is already STC. The numbers do seem to indicate fewer properties on the market.

Link to post
Share on other sites

[Feb 2011 update 4-bed

SW12: available/STC

Aug: 30/15

Sep: 32/16

Oct: 43/13

Nov: 32/16

2011

Feb: 22/20

B01 785,000 Pentney aspire

Aug:STC

B02 735,000 Pentney, new registration aspire

Aug: STC Oct: new reigistration, Feb: Sold

B03 729,950 Haverhill Jacksons

Aug: STC Oct:sold or withdrawn

B04 699,950 Hydethorpe aspire

Aug: STC, Nov: SoldoW

B05 600,000 Hydethorpe D&G

"for development or investment"

Oct: withdrawn (or sold), probably now A09

B06 769,950 Scholars Jacksons

Simple but nicely decorated (magnolia).

Sep: new Oct: STC

B07 749,950 Scholars KFH

Looks a little dated, but freshly painted (white). Pebble dash exterior.

Sep: new, Oct: new price 699,950, Nov: STC, Feb: Sold

B08 769,950 Pentney Jacksons

Oct: new and STC, Feb: Sold

B09 725,000 Hydethorpe aspire

Nov: new

B10 769,950 Hydethorpe Jacksons

Feb: New

B11 765,000 Scholars Aspire

Feb: New

B12 749,950 Pentney Aspire

Feb: New

Summary 3 months to end Feb 2011. Three sold, three new on market.

Feb 2011 rentals SW12: 3-beds: 4-beds: available/LA

Oct: 12/4

Nov: 12/4, 30/1

Feb: 13/7, 14/6

Link to post
Share on other sites

I've been looking for a while now, and the whole Balham/Clapham area is quite frustrating. It seems that anything good is getting snapped up quickly. Though less desirable properties seem to be hanging around on the market. From what a few agents have been telling me, many of the houses are getting offers (I estimate around 10-15% below asking, but the sellers are hanging out for better offers).

As someone pointed out, seems to be too many buyers and not enough desperate sellers :(...

Link to post
Share on other sites

I've been looking for a while now, and the whole Balham/Clapham area is quite frustrating. It seems that anything good is getting snapped up quickly. Though less desirable properties seem to be hanging around on the market. From what a few agents have been telling me, many of the houses are getting offers (I estimate around 10-15% below asking, but the sellers are hanging out for better offers).

As someone pointed out, seems to be too many buyers and not enough desperate sellers :(...

Am also looking in Clapham / Wandsworth Town / Earlsfield area, having moved away two years ago.

I get the feeling these people think they live in Chelsea with some of the prices I keep seeing.

Link to post
Share on other sites

Am also looking in Clapham / Wandsworth Town / Earlsfield area, having moved away two years ago.

I get the feeling these people think they live in Chelsea with some of the prices I keep seeing.

:lol: I do see what you mean! However, the prices in Chelsea are even higher! :o

Unfortunately needs must, and I'm reaching the point where I'm thinking f**k it, I can't be done with waiting another xxx years to see whether a crash happens or rates stay low and my deposit gets eroded away by inflation (and looking like the BOE will do the latter!)

Link to post
Share on other sites

jcpricewatcher:

Complete agree with your sentiment, although I've only been looking at Balham for slightly less than 2 months. I've been bidding for some properties but been outbid by, apparently, 2-3 other buyers interested, with most of them going for asking price and then some going to sealed bids and above asking. Compared to prices paid within the past year, the prices being paid now are almost 5% higher than the highest in 2010.

I agree about the complete lack of stock. I'm reluctant to be sucked into chasing properties and sealed bids to secure, but every additional afternoon of property viewing is a waste of time and also the missus is getting quite emotionally frustrated about losing out on properties that she likes.

I know that in 6 months time, the combination of higher base rates plus the threat of further increases will drive many of those with low equity to sell, as although they signed up on good 2/3 year fixed rates a few years ago, they're now stuck on variable. However, that will also mean that mortgage rates for me will go up in 6 months time (I've seen ING's 2 year fixed go from 2.89% to 3.05% to 3.49% in just under two months).

A rock and a hard place.... why couldn't the missus settle for areas like Streatham, Forest Hill, or Tooting Bec :)

Link to post
Share on other sites

For anyone looking, just thought I would share what I know in terms of pricing in the area at the moment.

It seems very much that 2011 pricing is now at least 5% above that for 2010 for the Hyde Farm estate. Lots of interested buyers - although only for properties that have no unusual quirks in them. For example, I know of two properties with shortish leases (85/87 years) that have been on the market for some time at £399k, so-so condition for both but otherwise pretty standard flats.

And then there are flats/maisonettes advertised at £415k-£425k, no different in layout size than the two short leases above, selling for above £400k. These properties, in the middle of 2010, would have sold for closer to £380k.

It doesn't seem to be a lack of supply... lots of Hyde Farm properties coming up all the time. I think its a matter of demand though. The good ones only stay on the market for about a week before they go under offer. Is the demand sustained or is it a temporary blip at the moment? Who knows.

Link to post
Share on other sites

To the extent that it wasn't already, the 'Nightingale Triangle' [ghastly estate agent's name, in general I mean much of the area to the west of Balham high road] seems to be becoming colonised by bankers.

Regrettably this does mean rising prices.

I'm seeing asking prices that are easily 20% or more higher than 2007/2008 selling prices. Hard to see: (a) how many are selling, and (B) how much for. I suspect that the answers are (a) not all that many; and (B) for quite a long way below asking but still a lot of money.

Link to post
Share on other sites

jcpricewatcher:

Complete agree with your sentiment, although I've only been looking at Balham for slightly less than 2 months. I've been bidding for some properties but been outbid by, apparently, 2-3 other buyers interested, with most of them going for asking price and then some going to sealed bids and above asking. Compared to prices paid within the past year, the prices being paid now are almost 5% higher than the highest in 2010.

I agree about the complete lack of stock. I'm reluctant to be sucked into chasing properties and sealed bids to secure, but every additional afternoon of property viewing is a waste of time and also the missus is getting quite emotionally frustrated about losing out on properties that she likes.

...

A rock and a hard place.... why couldn't the missus settle for areas like Streatham, Forest Hill, or Tooting Bec :)

I know what you mean. I've just been gazzumped on a property and lost my mortgage fee (fortunately only a drop in the ocean compared to everything else). In the end the house went (well, is going) to a cash buyer without a mortgage who ended up bidding at around 50-60k over my originally accepted amount (which was almost asking price). They tried to stick with my offer on principal but in the end large amounts of money made them succumb to he higher bidder. (I guess most people would do the same?)

It just seems that people are scrabbling for all the decent properties at the moment. I notice all the ones I don't like are still on the market - why can't everyone else just like those ones?! :D

Link to post
Share on other sites

To the extent that it wasn't already, the 'Nightingale Triangle' [ghastly estate agent's name, in general I mean much of the area to the west of Balham high road] seems to be becoming colonised by bankers.

Regrettably this does mean rising prices.

I'm seeing asking prices that are easily 20% or more higher than 2007/2008 selling prices. Hard to see: (a) how many are selling, and (B) how much for. I suspect that the answers are (a) not all that many; and (B) for quite a long way below asking but still a lot of money.

I'm an increasing frustrated buyer and my personal experience of the area is..

a) All the good ones. But none of the ones with problems (eg bad location, bad size or strange layout)

B) close to or over asking price for the good ones. The bad ones get offered about 10-20% under asking but the vendor simply doesn't accept and they languish on the market, though many are tenanted or lived in by the owners.

Problem is even if they hurry up with interest rate rises, it'll cause price drops as desperate sellers try to dispose of what are generally the bad ones. But unfortunately it seems the good stuff is still pretty bouyant and seems most get sold to cash buyers (no mortgage). The vendors end up picking them in preference to people with mortgages. Bad for me, but understandable.

Some people say the middle east problems are causing a lot of people to buy property assets in London at the moment since they're safer than Libyan, Egyptian etc investments :(

Link to post
Share on other sites

The whole house-buying system is flawed and gives the seller the advantage. The buyers have to pay all the mortgage fees, survey fees, lawyer fees, etc and just pray that the seller doesn't pull out, demand more, or sell to a gazumping buyer.

I can't believe that a cash buyer came in £50k over your price - which was almost asking price. You can't blame the seller - any seller would accept a higher offer, especially if it was that much.

The problem with London is that it is doing rather well (compared to the rest of the UK), there's lots of cheap credit for people with good credit scores (lots of Londoners), there's lots of foreign money being pumped in. And there's limited stock as most people still have jobs and quite big chunks of equity in their homes.

Jcpricewatcher: what types of properties are you seeking in Balham? I myself am looking for 2 beds... hope we're not competing against one another :P

Link to post
Share on other sites

The whole house-buying system is flawed and gives the seller the advantage. The buyers have to pay all the mortgage fees, survey fees, lawyer fees, etc and just pray that the seller doesn't pull out, demand more, or sell to a gazumping buyer.

I can't believe that a cash buyer came in £50k over your price - which was almost asking price. You can't blame the seller - any seller would accept a higher offer, especially if it was that much.

The problem with London is that it is doing rather well (compared to the rest of the UK), there's lots of cheap credit for people with good credit scores (lots of Londoners), there's lots of foreign money being pumped in. And there's limited stock as most people still have jobs and quite big chunks of equity in their homes.

Jcpricewatcher: what types of properties are you seeking in Balham? I myself am looking for 2 beds... hope we're not competing against one another :P

Yes, but the system can also work to advantage of the buyer if the seller is desperate and the buyer has a lot of other options. A couple of years back I heard of a few instances of gazundering where the buyer would demand the seller dropped the price in order to exchange contracts. Their rationale was that the house prices were falling and as a consequence they didn't want to pay as much anymore.

I don't blame the seller. Am more annoyed by the buyer who insisted on bidding on an under offer property. But at the end of the day, that's life and eventually there will be other houses!

I'm looking for 4 beds, so don't worry, and I don't intend to buy two 2 beds and convert them either :lol:

Link to post
Share on other sites

I have had an offer accepted for a property which had quite a long and protracted negotiation, and am happy with the property itself and the price.

I was going to use a building surveyor that a friend had used a few years ago and wholly recommended - but found out that the surveyor had stopped doing residential surveys (moved on to other things).

I aws wondering if anyone on this thread knows any local surveyors who they can recommend for a building survey? If forum rules don't allow posting details in posts, do PM me directly.

Link to post
Share on other sites

The problem with Balham, and this is never likely to change, is it really does have a shortage of stock. The actual SW12 area is pretty tiny, and even if you drag bits of SW17 and SW2 into the blast radius it's still a small area.

My partner and I have been looking for about 5 months 500k budget looking for a ground floor 2 bed maisonette.

Problem is quality 2 beds are in very short supply because the owners want more than 500k for them and not many people are going to buy a 2bed over 500k with stamp. So what you have left are either poor quality (650-750 sq ft low ceiling, 3-4 flat) conversions, or on busy streets or...well over valued (i.e. £499k).

Buyers aren't accepting it, (and as of February there's about 45-50 active buyers, KFH accidentally reply all'd :)) but when one quality property does come on, and there's been about 5 in 5 months, there's a massive fist fight to get it. So as a poster mentioned above it's mostly become a standoff. There was a flurry of instructions during term break, but it hasn't been sustained, so by the time we hit April stock is going to be non-existent.

Personally, I'm considering jumping the maisonette step, buy under 250k stamp out in the sticks (YBS have a 2.99% 2 yr fix at 25%) and come back in two years for a house instead. Hopefully in doing so, jumping the 'next steppers' sitting pretty in the SW12 maisonettes on their 0% SVRs.

Edited by Aaron James
Link to post
Share on other sites

Not sure the shortage of stock is going to be a problem for long ... seen 300-310 houses/flats in my area SW12 xxx + 1/2 mile, now up to 350+ in the last 3 weeks. 200 not UO/SSTC, which means 150 UO/SSTC (good at maths I am ...). I would guess there are lot of dupes (eg house on Kings Avenue is on with 3 agents to sell and 4 (!) to rent), but definitely an increase in supply.

V interesting that KFH have 50 people on their books ... there are a lot of 2/3 bed maisonettes (Weir Rd, Radbourne Rd, bits of Cavendish) that are on at 375-400, and then a lot on at 450-500. I would guess (like a lot have said) that we're at peak prices + 10pc *for things that sell*. The point is that a lot isn't selling though.

My fave bellweather property is this one, nice gated development just of Hydethorpe, close to v good local school and on at £545k. Small for the area, and not much outside space, but a nice little house. I think BigPig had the details but I believe this was on at well over £600k to begin with ... so it's down a long way and obviously not much interest. If you can stretch to £500k for a maisonette, then you could do worse than this ... after waiting for another 6 months / £50-100k discount!

http://www.rightmove.co.uk/property-for-sale/property-32353703.html?premiumA=true

History

date event

Thursday, March 10, 2011 3:56:45 AM

* Price changed: from '£565,000' to '£545,950'

Sunday, February 27, 2011 12:38:28 PM

* Price changed: from '£575,000' to '£565,000'

Thursday, February 17, 2011 7:18:21 PM

* Title changed: Balham, London, SW12

Thursday, February 03, 2011 12:33:24 PM

* Status changed: from 'Available' to 'Premium Listing'

Tuesday, February 01, 2011 7:52:37 AM

* Initial entry found.

The house prices site (http://www.houseprices.co.uk/e.php?q=margaret+rutherford+place) shows that these px are still well above 3Y

Sale Date

Price

Type

Tenure

New Build

Map

Address

Current Value Estimate

Property for Sale

1

26/03/2008

£596,000

Ter.

F

No

Map

1, Margaret Rutherford Place, London, Greater London, SW12 0JR

Get FREE current value estimate

Property for sale near SW12 0JR

2

26/03/2008

£441,000

Ter.

F

No

Map

5, Margaret Rutherford Place, London, Greater London, SW12 0JR

Get FREE current value estimate

Property for sale near SW12 0JR

3

20/03/2008

£490,000

Ter.

F

No

Map

4, Margaret Rutherford Place, London, Greater London, SW12 0JR

Get FREE current value estimate

Property for sale near SW12 0JR

4

20/03/2008

£535,000

Ter.

F

No

Map

3, Margaret Rutherford Place, London, Greater London, SW12 0JR

Get FREE current value estimate

Property for sale near SW12 0JR

5

20/03/2008

£490,000

Ter.

F

No

Map

6, Margaret Rutherford Place, London, Greater London, SW12 0JR

Get FREE current value estimate

Property for sale near SW12 0JR

6

20/03/2008

£535,000

Ter.

F

No

Map

2, Margaret Rutherford Place, London, Greater London, SW12 0JR

Get FREE current value estimate

Property for sale near SW12 0J

Link to post
Share on other sites

And people want a lot of cash for places that need a lot of work:

1) Madness like this (500 sq ft) going on & under offer quickly @ around £240k:

http://www.rightmove.co.uk/property-for-sale/property-32251481.html

2) Needs a lot of work and looks oddly spooky in the pix:

http://www.rightmove.co.uk/property-for-sale/property-29325319.html

3) The estate agent told me this one (unmod for 30Y) was priced @ £800k highest px ever paid on this road less £100k work (*) less £50k profit for us = £650k price. Mad. I went round for a second viewing with a builder friend who said more like £150k. They've taken the pix off now, but trust me it was nasty. But fair play to the EA, he got an offer over £600k within a few weeks.

http://www.rightmove.co.uk/property-for-sale/property-29325373.html

Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
  • Recently Browsing   0 members

    No registered users viewing this page.





×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.