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Is Prime London Crashing? - Merged Threads

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On ‎11‎/‎02‎/‎2019 at 11:41, Smiley George said:

This, unfortunately vendors and EA's still think this is okay - https://www.rightmove.co.uk/property-for-sale/property-79332566.html

WTF is that price! 

I was looking at a 3 bedroom detached with garage, solar, 20 minutes from Euston etc for 525k, not sure if that sold or was taken off the market.  I made an offer on a 3 bedroom end terrace with garage, that went for 400k I think but had a 30 year old interior.  High prices but seem cheap compared to elsewhere.  I just want to buy something with good public transport links I can use my oyster card or somewhere transport isn't required so I can ride my bike; simplify my life because I hate car ownership or trains that have to stop 20 times before my destination.  

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Having a day off and watched HUTH today (S22, E22) with a ‘no brainer’ in Fulham. 

Worst house on the best street. £550k guide for a 3 bed terrace. Okay, no roof and empty for many years so it needs full renovation. 

Bidding kicks off at £600k, yep why mess around with the guide...leaps with a few bids quickly past a £1m and mummy buys it for her son to rent from them (nice). £1.285m. 

They spend £310k (not bad with attic) doing it up over 3 years and it stands then at £1.6m...hoping for a £2m valuation. 

Mhmm, not sure about the frontage with an awful attic and the heritage London bricks have been painted grey. Farrow and Ball I guess....but those bricks were it’s best feature. More money than sense I guess  

 3 years later we revisit the place done up in 2018. Two valuations come in at £1.4m..

BBC iplayer link

https://www.bbc.co.uk/programmes/b0b8lp1m

 

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On 2/8/2019 at 11:54 AM, Pop321 said:

...Bidding kicks off at £600k, yep why mess around with the guide...leaps with a few bids quickly past a £1m and mummy buys it for her son to rent from them (nice). £1.285m. 

They spend £310k (not bad with attic) doing it up over 3 years and it stands then at £1.6m...hoping for a £2m valuation. 

Mhmm, not sure about the frontage with an awful attic and the heritage London bricks have been painted grey. Farrow and Ball I guess....but those bricks were it’s best feature. More money than sense I guess  

3 years later we revisit the place done up in 2018. Two valuations come in at £1.4m....wait, don’t laugh yet. 

That loft conversion looks terrible.  As does the kitchen.  On the market at £1.4m since October... anyone following the London market will know that reductions will soon follow.  A couple of £50k reductions to £1.3m might start to attract some low-ball offers.  Can easily see them losing half a million on this, factoring in building costs, legal fees, stamp duty.

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Best thing with the greatest fool is that they realise they are the greater fool until it’s far too late. 

that slow burning realisation that they were not actually savvy smart people but instead greedy bloody morons, and loosing several lifetimes worth of work of money in one big hit. 

sadly most win the gamble, but at least there is some risk to our corrupt housing market 

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Asking prices for London homes rose this month as owners tested a fragile market before the spring selling season.

Values gained 3.4 percent from January to 614,182 pounds ($788,000), property-website Rightmove said in a report published Monday. The seasonal boost still left asking prices in the capital 2.1 percent lower than a year earlier.

https://www.bloomberg.com/news/articles/2019-02-18/london-homeowners-test-the-waters-in-brexit-hit-housing-market

 

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http://www.chiswickw4.com/default.asp?section=property&page=stats1902.htm

Not strictly prime central London but close enough I'd hope to be posted on this thread: Chiswick prices (London W4) continue to fall. Some choice quotes include:

"The average price of a flat fell to £550,302 down by 15.9%."

"Once again, no sales of flats were reported in Berkeley's Chiswick Gate development."

I've said it before, I'll say it again: there's a forest of new-build flats coming to market in West London now. As to the price? Timberrrrrr!

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1 hour ago, hurlerontheditch said:

Asking prices for London homes rose this month as owners tested a fragile market before the spring selling season.

Values gained 3.4 percent from January to 614,182 pounds ($788,000), property-website Rightmove said in a report published Monday. The seasonal boost still left asking prices in the capital 2.1 percent lower than a year earlier.

https://www.bloomberg.com/news/articles/2019-02-18/london-homeowners-test-the-waters-in-brexit-hit-housing-market

 

What a waste of cyber space, do these people get paid for this fluff?

Can't work out whether he has an agenda and is being deliberately misleading, or is just can't be arsed to do some proper journalism. What is an Editor-at-large anyway?

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