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WageslaveX14

Overpriced House Of The Week

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I initially thought it said £410,000, and I thought to myself, "hmmm, that looks OK; not particularly pretty but a decent size in a decent location."

Then I spotted the extra zero.

Yeah I thought it looked quite nice and then I saw the price.

£4 million. For a house. In a built up area.

Takes Kite-flying to a whole new level.

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Bankers. No need for a mortgage, and they are competing with each other for this type of house. Still a surprise to see this particular example up for this much, when you look at what £2m can buy you in the area.

Chelsea and Kensington,Sw1, possibly Paddington, but Sw18, where the he'll is that?

Barnes? Putney?

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In the house's favour at least I don't get claustrophobia from looking at the pics.

The kitchen looks like something out of a US sitcom.

36266_309103_IMG_01_0000_max_620x414.jpg

But 4 million squid for a semi? Wouldn't it be cheaper to buy a house in Birmingham and a helicopter for the commute?

It seems wedged into it's little plot though - I'm guessing you won't be able to open the bathroom window without ramming the frame into next door.

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That is the usual EA 'mistake' that bumps up the average prices, but it can't be a typo in this case.

The house appears to have been made from 2 standard semis. I guess that the price of each of the semis would probably be around £1m in this area, but you'd normally lose money by combining 2 houses, so I am not sure why they think it is worth over twice as much.

It reminds me of this one I saw advertised earlier in the week:

http://www.foxtons.co.uk/search?bedrooms_from=0&keyword_type=area&keyword_value=Harrow%20Weald&location_ids=921&property_id=782909&search_form=keyword&search_type=SS&submit_type=search

That interior is so disgusting it's scary.

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There's a lot of Jesus in that house...

Looking at the horror of the interior decor, if you were going to be able to tolerate living in it, I reckon it'd be a prerequisite to believe in the after life and a higher reward in heaven. ;)

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In the house's favour at least I don't get claustrophobia from looking at the pics.

Wide angle lens.

It is an extended corner plot house. the rooms arent very big but it does have slighly higher than normal ceilings.

The door was on the wrong side of the front, so they have moved it to the side of the house, to balance the entrance hall into the middle of house. An interesting way of doing this, most people just leave the entrance on the front of the house and it normally means downstairs doesnt have a central entrance hall and so some of the rooms can only be entered through other rooms.

Still i wouldnt pay more than 2.5 mill for that.

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Ah, I get it. You're not being ripped off as long as you're only being ripped off a little less than other people nearby. Very sensible.

I do think houseprice is high, and question the massive jump over the past years are really justified.

I can obviously b!tch and whine like the rest of you, but that's not much use is there?. end of the day the market dictates what the 'fair' price is.

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<br />I am getting fatigued from all the 'to QE or not to QE' worries, so I thought I would post this ludicrously overpriced house, which just came up on a Rightmove search: <a href='http://www.rightmove...y-31268728.html</a><br /><br />The price would have to be cut by about 85-90% before that looked good value.<br /><br />Can anyone find a worse deal?<br />
<br /><br /><br /><br /><br />Oh dear, a £4.1M prison!  Take a look at all the windows/doors, they've all got bars fitted (bar the conservatory).

Oh, my bad. I think they're faux georgion pane windows actually.

Edited by bomberbrown

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end of the day the market dictates what the 'fair' price is.

Absolutely. So lets end SMI and get interest rates to where the BoE's remit would have them, ie 2% above the current rate of inflation.

Lets see how the housing market looks then...

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In the house's favour at least I don't get claustrophobia from looking at the pics.

The kitchen looks like something out of a US sitcom.

What are you talking about Willis ?

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Absolutely. So lets end SMI and get interest rates to where the BoE's remit would have them, ie 2% above the current rate of inflation.

Lets see how the housing market looks then...

Unfortunately that's the hypothetical market hoping to be. Not the market we are in. And it won't change (i.e. ir going up etc) in the short-mid term. For reasons i do not need to re-iterate again...

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Unfortunately that's the hypothetical market hoping to be. Not the market we are in. And it won't change (i.e. ir going up etc) in the short-mid term. For reasons i do not need to re-iterate again...

The market we are in is one of low transactions and houses sitting on the market not selling. Or as its otherwise know there is NO market at the moment

It will change probably more mid term, but change it will!

The house is horrible, its not in a desirable part of london therefore 410k is still overpriced and not reasonable at all its just that people are hearing such large numbers all the time that they become the norm.

Edited by Rozza

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No, that's pretty sh**t.

You might as well buy this:

http://www.rightmove...y-29193653.html

and one of these:

http://www.sloanehel...wned_detail/163

then commute to work.

Well, the house might make sense but that 44 is due a complete rebuild in a couple of years so while it might make sense to a flight school it probably wouldn't to a private owner.:rolleyes:

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The market we are in is one of low transactions and houses sitting on the market not selling. Or as its otherwise know there is NO market at the moment

It will change probably more mid term, but change it will!

The house is horrible, its not in a desirable part of london therefore 410k is still overpriced and not reasonable at all its just that people are hearing such large numbers all the time that they become the norm.

True, transaction level is low, but there aren't enough distressed sellers, so price is holding up well. Really bad news for some of us having the deposit and wanting to buy in the short term.

re: overpriced, i am not even going to argue with you anymore mate. show me a property in London that's not overpriced? Can't find one? Then what's your point... live the the reality and get used to the fact that houseprices are overpriced... only the financially uber-elite will be able to afford their own home in the future.. rest of us can just rent till our body turns to carcass...

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I know that area well, it's nice and middle class but it's not bloody Mayfair. I'd say that house is probably more than 3x overpriced. There are some magnificent Victorian semi-detached mansions with 6 bedrooms and big gardens a little closer to Wandsworth that sell for less than 1.5 million.

:lol::lol::lol::lol::lol::lol:

What a complete rip off! I knew the road sounded familiar, some of my school friends grew up there but they didn't have any money. At first I thought it was one of those houses close to Wandsworth Common but I double checked the location and its up the road from Wandsworth prison and close to the cemetery and a busy road! I thought under this crazy house price inflation that houses in that area might be around the million mark but if people really insist on paying £4million for a house near to a dual carriageway and a prison, then please do be my guest.

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Chelsea and Kensington,Sw1, possibly Paddington, but Sw18, where the he'll is that?

Barnes? Putney?

That particular bit is Earlsfield, my good man. And if you don't understand why you shouldn't pay a massive premium for living near a prison and a cemetery, then I can't help you! :D

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:lol::lol::lol::lol::lol::lol:

What a complete rip off! I knew the road sounded familiar, some of my school friends grew up there but they didn't have any money. At first I thought it was one of those houses close to Wandsworth Common but I double checked the location and its up the road from Wandsworth prison and close to the cemetery and a busy road! I thought under this crazy house price inflation that houses in that area might be around the million mark but if people really insist on paying £4million for a house near to a dual carriageway and a prison, then please do be my guest.

not for 4mil, but i'd be happily paying half a mil, and flip it for ~1.2mil in a heart beat.

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not for 4mil, but i'd be happily paying half a mil, and flip it for ~1.2mil in a heart beat.

I had to check house prices, to see how 'out there' this asking price was.

Turns out, it's pretty much in the right ballpark, bizarrely :o :angry: :

Sale Date Property Price

14/12/2010 35, Lyford Road, London, Greater London, SW18 3LU Freehold semi-detached house £4,750,000

10/12/2010 70, Lyford Road, London, Greater London, SW18 3JW Freehold detached house £3,425,000

21/12/2006 7, Lyford Road, London, Greater London, SW18 3LU Freehold new build detached house £2,925,000

04/04/2011 26, Lyford Road, London, Greater London, SW18 3LT Freehold detached house £2,700,000

06/01/2010 34, Lyford Road, London, Greater London, SW18 3LT Freehold semi-detached house £2,500,000

28/02/2011 76, Lyford Road, London, Greater London, SW18 3JW Freehold detached house £2,500,000

29/07/2005 44, Lyford Road, London, Greater London, SW18 3LS Freehold semi-detached house £2,350,000

12/05/2006 70, Lyford Road, London, Greater London, SW18 3JW Freehold detached house £2,175,000

25/07/2007 18, Lyford Road, London, Greater London, SW18 3LG Freehold semi-detached house £1,848,000

05/03/2009 48, Lyford Road, London, Greater London, SW18 3LS Freehold semi-detached house £1,625,000

How can that house EVER be worth that sort of money????

Edited by lorna1999

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Wide angle lens.

Tis true, but it's definitely roomier than the sort of house I normally look at on Rightmove.

15028_46Toyne_IMG_04_0000_max_620x414.jpg

Either that sink is 15 feet tall or someone's been playing with their 21 mm lens.

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Tis true, but it's definitely roomier than the sort of house I normally look at on Rightmove.

15028_46Toyne_IMG_04_0000_max_620x414.jpg

Either that sink is 15 feet tall or someone's been playing with their 21 mm lens.

That loo might be fine for a bloke wanting a pee, but if anyone sits down, where do their thighs go? :blink:

Is it a refurb, or does someone currently live there? and do they have more than one loo??

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Is it a refurb, or does someone currently live there? and do they have more than one loo??

It's this place (link)

A slim terrace, so almost certainly that's the only loo (unless there's an outside one). Looks like it's been done up a bit, at least in the kitchen/bathroom.

£109,950. In my opinion, half that would seem fair.

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It's this place (link)

A slim terrace, so almost certainly that's the only loo (unless there's an outside one). Looks like it's been done up a bit, at least in the kitchen/bathroom.

£109,950. In my opinion, half that would seem fair.

Looking at it another way, you could buy that whole road, and the one behind, for the price of the OP's house in Wandsworth...

It is stoopid, either way.

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That interior is so disgusting it's scary.

However I view that property, whether it is with Foxton's rather naff panning or as a slideshow set to fast, it makes me feel physically sick.

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