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Snugglybear

A Tale Of One Street

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A street with which I'm familiar, as I walk along it fairly regularly.

Over the course of a few weeks, five houses came up for sale in this street. The first thing I thought was, what the heck's going on here? The second was, let's watch on Rightmove with Property Bee.

Well, one has sold at auction for £138,000. Apparently an old lady lived there, so presumably it needed updating, possibly badly.

One looks as if it's been taken off the market, as the For Sale sign has gone and it's not on Rightmove any more, and I haven't seen a Sold sign. I don't think I missed it, although I don't go along the street every day, as they tend to stay up a while.

That leaves three.

http://www.rightmove.co.uk/property-for-sale/property-30363490.html

Not in tip-top nick, and they're asking £179,950.

http://www.rightmove.co.uk/property-for-sale/property-33918404.html

Nicely done out, and they're asking £194,950.

And finally

http://www.rightmove.co.uk/property-for-sale/property-18561471.html

Again, nicely done out, and they're asking £204,950.

In the case of this third one, I distinctly remembered seeing a Sold sign, and there it is on Property Bee, 17th June Sold STC, 28th July For Sale. Also on Property Bee at the same time that it went back on sale, the description was changed from 4 bed to 3 bed, the 4th bedroom is now a loft room. I bet the loft room doesn't comply with the Building Regs for attic bedrooms, and I bet that became obvious in a valuation / survey. I further bet that the lender wasn't lending that much on a 3 bed terrace, even if the prospective buyer still wanted the house.

But note they haven't lowered the price, despite the change in the description, and despite the fact that a very similar house is available not many doors down on the same side of the same street for £10,000 less. It even has the same leaded light between the kitchen and the dining room.

Incidentally, I've checked nethouseprices, and the most anyone has paid for a house in the four streets of identical houses in the area, including this street, is £180,000. And even that's overpriced in my opinion. It's a nice area to live in, but they are only terraces.

Oh, and I would never use a loft room as a bedroom if it didn't comply with the Building Regs. Not since the death of a bloke in just such a room in a house in the same area of Cardiff, when a fire broke out in the bedroom below.

I just wonder what planet some people are living on.

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The house sold for 138,000 has set the price level in the street.

Even if it needed doing up it probably did not need 66K worth of doing up. Also, you can do it up for less, do it up in the way you wish and know that it was done the way you want - feel confident about it.

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Nice idea for a thread, and good links and info.

My only concern is that the residents might read this and march down the street to burn the cardboard box you're living in.

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Nice idea for a thread, and good links and info.

My only concern is that the residents might read this and march down the street to burn the cardboard box you're living in.

Or offer to buy it as a BTL :blink:

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A street with which I'm familiar, as I walk along it fairly regularly.

Over the course of a few weeks, five houses came up for sale in this street. The first thing I thought was, what the heck's going on here? The second was, let's watch on Rightmove with Property Bee.

Well, one has sold at auction for £138,000. Apparently an old lady lived there, so presumably it needed updating, possibly badly.

One looks as if it's been taken off the market, as the For Sale sign has gone and it's not on Rightmove any more, and I haven't seen a Sold sign. I don't think I missed it, although I don't go along the street every day, as they tend to stay up a while.

That leaves three.

http://www.rightmove...y-30363490.html

Not in tip-top nick, and they're asking £179,950.

http://www.rightmove...y-33918404.html

Nicely done out, and they're asking £194,950.

And finally

http://www.rightmove...y-18561471.html

Again, nicely done out, and they're asking £204,950.

In the case of this third one, I distinctly remembered seeing a Sold sign, and there it is on Property Bee, 17th June Sold STC, 28th July For Sale. Also on Property Bee at the same time that it went back on sale, the description was changed from 4 bed to 3 bed, the 4th bedroom is now a loft room. I bet the loft room doesn't comply with the Building Regs for attic bedrooms, and I bet that became obvious in a valuation / survey. I further bet that the lender wasn't lending that much on a 3 bed terrace, even if the prospective buyer still wanted the house.

But note they haven't lowered the price, despite the change in the description, and despite the fact that a very similar house is available not many doors down on the same side of the same street for £10,000 less. It even has the same leaded light between the kitchen and the dining room.

Incidentally, I've checked nethouseprices, and the most anyone has paid for a house in the four streets of identical houses in the area, including this street, is £180,000. And even that's overpriced in my opinion. It's a nice area to live in, but they are only terraces.

Oh, and I would never use a loft room as a bedroom if it didn't comply with the Building Regs. Not since the death of a bloke in just such a room in a house in the same area of Cardiff, when a fire broke out in the bedroom below.

I just wonder what planet some people are living on.

The one with the highest price is end of terrace => semi-detatched. That's always going to add something to the price/value.

But overall - Good Grief. 180k+ for any of these! What in the world is anyone thinking that these are long term sustainable prices? In 1978, a friend bought a house very similar to these - not quite the same area of Cardiff, but close, for about 12k, as I recall. At that time, starting salary for new graduates entering a "graduate type" of job was about 3k. i.e. house is approximately 4 * salary. The math doesn't quite add up now, does it!

**********

edited to remove USD signs

Edited by bearishonhouses

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Nice idea for a thread, and good links and info.

My only concern is that the residents might read this and march down the street to burn the cardboard box you're living in.

Ah, but my cardboard box isn't sited on this street! And sometimes, my cardboard box is even a crate, so there!

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  • 336 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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