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darwin

Kensal Rise Flipper

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http://www.rightmove.co.uk/property-for-sale/property-32956235.html

Sale Date Address Type Tenure Price Paid
23 Jul 2010 34,Hanover Road, London, Greater London NW10 3DS Terraced Freehold £575,000

In July 2010, paid £575,000.

March 2011, wants £980,000.

You can see the unmodernised version on Streetview here, behind the tree on the left hand side.

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http://www.rightmove.co.uk/property-for-sale/property-32956235.html

In July 2010, paid £575,000.

March 2011, wants £980,000.

You can see the unmodernised version on Streetview here, behind the tree on the left hand side.

Someone will almost certainly buy it tho. Here's a similar story in my neck of the woods.

18 The Crescent, Maidenhead, SL6. I spotted this being marketed when I moved to Maidenhead in December 2009, but at £450,000 was more than I was ready to part with.

Was surprised when it showed up on the LR at £290,000 and after brief discussions with someone in the know, potential purchasers' surveys apparently kept showing up problems with possible movement (the crack in the arch above the front door certainly seemed to suggest that). So it was sold, apparently to a builder who clearly wasted no time in getting the place spruced up and sticking it back on the market at £550,000. And as of last week it's "under offer".

Clearly somebody doesn't do even the most basic of research. If it was leasehold, I assume this would come to light when the solicitor does their searches, but as it's freehold, would it necessarily come up?

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Someone will almost certainly buy it tho. Here's a similar story in my neck of the woods.

18 The Crescent, Maidenhead, SL6. I spotted this being marketed when I moved to Maidenhead in December 2009, but at £450,000 was more than I was ready to part with.

Was surprised when it showed up on the LR at £290,000 and after brief discussions with someone in the know, potential purchasers' surveys apparently kept showing up problems with possible movement (the crack in the arch above the front door certainly seemed to suggest that). So it was sold, apparently to a builder who clearly wasted no time in getting the place spruced up and sticking it back on the market at £550,000. And as of last week it's "under offer".

Clearly somebody doesn't do even the most basic of research. If it was leasehold, I assume this would come to light when the solicitor does their searches, but as it's freehold, would it necessarily come up?

You may well be right. "Under Offer" is a heck of a long way from "Sold", though. If that property has had subsidence problems the insurance company would flag this up, I think, regardless of whether it's freehold or leasehold.

About the Kensal Rise house: I had forgotten to add that the vendor is setting what would be a record price, if it did sell for £980,000. £849,950 is the highest in this street to date.

In January 2010 Rightmove showed 388 properties for sale in NW10. Compare that with 661 for sale in January 2011, a 70% increase in properties coming to the market this year. It'll be interesting to see if it does sell, in this economic climate.

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You may well be right. "Under Offer" is a heck of a long way from "Sold", though. If that property has had subsidence problems the insurance company would flag this up, I think, regardless of whether it's freehold or leasehold.

True. In fact, I think it was "under offer" two or three times before it sold last time. The obvious difference then was that the people who pulled out had all had surveys done and while they showed up subsidence / movement, the insurers for the then owner disputed this. Hence the massive reduction when it did actually sell. The person who bought it didn't have a survey done because he presumably didn't want one. And this works in his favour now he's selling it as I assume he's not legally obliged to declare any possible movement because according to what he had done, there arguably isn't any.

Still, you'd think someone spending that much money on a house might be interested in what it might have sold for in the last 10 years and if they were, that a massive price jump like that might set alarm bells ringing.

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Thanks for this - more ammo for my arsenal.

Not making this up, but I grew up on Hanover Road. Moved to Ealing when I was about 11 - I'm 25 now and living elsewhere. Its funny that some property developer has bought this house and flipped it - considering the area isn't that nice - I mean its ok, but its not amazing.

My parents are always bitching about the money I "waste" on rent. I got so sick of them doing it that I fired up the lappy and drew an area on rightmove on Hanover Road. My dad nearly had an aneurysm. I'll show him this soon.

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Price aside though, I think it looks quite nice no? Might want to put up some curtains though.

It's been very skilfully presented, that's for sure.

I think they did a great job with the garden, but the kitchen is a bit on the basic side. The cabinets just look cheap. Also, they haven't created any cupboard or wardrobe space in the bedrooms so it seems they've cut corners that way too. I guess all the furniture is on loan, which is why they haven't bothered with curtains or blinds. It's pretty obvious no one lives there.

Nice try, though.

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Thanks for this - more ammo for my arsenal.

Not making this up, but I grew up on Hanover Road. Moved to Ealing when I was about 11 - I'm 25 now and living elsewhere. Its funny that some property developer has bought this house and flipped it - considering the area isn't that nice - I mean its ok, but its not amazing.

My parents are always bitching about the money I "waste" on rent. I got so sick of them doing it that I fired up the lappy and drew an area on rightmove on Hanover Road. My dad nearly had an aneurysm. I'll show him this soon.

A lot of people who lived in flats in Notting Hill migrated up that way when they needed more space. I know several people who did that when kids became part of the equation. That's what probably drove the prices up in that area.

So many properties are coming back onto the market now though.

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A lot of people who lived in flats in Notting Hill migrated up that way when they needed more space. I know several people who did that when kids became part of the equation. That's what probably drove the prices up in that area.

So many properties are coming back onto the market now though.

The prices are mental. What families out there can seriously afford to buy a house priced like this?!?

My parents sold their 3 bed house on Hanover Road in 1997 for £120,000. Wonder what it would fetch now

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  • 284 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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