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curious1

Another One To Watch... Bedsit In Se London Was On For 1/2 Million....

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I just came across this travesty...

http://www.rightmove.co.uk/property-for-sale/property-46782896.html

So, it's a 1 bed, bedsit (albeit large) with no view, no external space, and it's bang up against a railway line (hence the high windows).... and it was first listed at HALF A MILLION POUNDS!

Now dropped by 70k, but I can see this one falling further.... a lot further....

Insanity!

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yea, sorry, I took a bit of artistic license on the thread title...

.. but it is a single space (living and sleeping not seperated); I guess most bedsits don't have a mezzanine.

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This is round the corner from me. I'm not generally a big fan of kitchen/living room combos but the space of that ground floor of 40sqm I could live with and the upstairs is also a spacious 35sqm as well. The down side would be the railway line directly on one side and the very busy A215 Norwood road on the other.

No idea what the service change is, but I reckon a fair price (2001 - 2004) would be in the region of £130k - £150k and at that I would consider it.

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SE London has has more insane HPI than anywhere else in the past year or so. I don't know Herne Hill, but it looks relatively central and this is actually quite a big flat (despite being effectively a bedsit!).

What really amazes me are ones like this:

http://www.zoopla.co.uk/for-sale/details/34314455

This is a lot further out, average size, average condition in an area that has not really 'up and come'. This would have been sub-£200k a couple of years ago, and now it is suddenly £450k. I know this is Foxtons, but there are plenty of examples with other agents in the area showing similar 'rises'.

Edited by worried1

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In order to understand this madness you need to understand the London property buyer's mindset. Places like Brockley are, for some unknown reason, popular with the meedja/Nathan Barley/Hoxton overspill set. Add to that it is, as Kevin McCloud would no doubt say, 'a great space' and has that loft-living feel that urban professionals love.


At some point in the past (sometime between about 1960 and 1990) this kind of place became desirable as the middle classes were pushed further and further out of their traditional heartlands (ie, places with a 'W' in the postcode). Novelist Michael Frayne writes about this in his 1967 book 'Towards the End of the Morning'.


The surface 'gentrification' of slum quarters of London, and the pride of its middle class residents in living in them, is one of the greatest social about-faces of the 20th century, in my opinion.


I can easily see a couple of gay dinkies (dual income no kids) willing to fork out cash for this.

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I'll call Doc Brown and you fire up the flux capacitor......

Sorry, but the flux capacitor depends on Russian imports, and in the current trade climate . .

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