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Will!

Does The Overground Really Make A Difference?

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One of my younger sisters bought a 2 bedroom flat in Peckham Rye for £250k several years ago. (Despite me giving her the HPC talk.) Shortly afterwards the Overground arrived and prices have gone up since then by about 25%. I'm not sure how much of this is just an effect of loose monetary policy, but does anyone think that the Overground makes a difference?

There was always an overland train service on which Oyster cards could be used, but does a place appearing on the tube map suddenly make it exist in the minds of would-be buyers who otherwise would never have considered it?

Edited by Will!

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i read an article in the economist a couple of years back about how HPI inflation along the london overground lines had outstripped HPI which was not.

personally, i think it does. i think people new to london will generally go by whats on tube map.

i was considering buying in edmonton before that comes online next year but i just can't bring myself to do it

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One of my younger sisters bought a 2 bedroom flat in Peckham Rye for £250k several years ago. (Despite me giving her the HPC talk.) Shortly afterwards the Overground arrived and prices have gone up since then by about 25%. I'm not sure how much of this is just an effect of loose monetary policy, but does anyone think that the Overground makes a difference?

There was always an overland train service on which Oyster cards could be used, but does a place appearing on the tube map suddenly make it exist in the minds of would-be buyers who otherwise would never have considered it?

It does mean newer, bigger, more frequent, more reliable trains.

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One of my younger sisters bought a 2 bedroom flat in Peckham Rye for £250k several years ago. (Despite me giving her the HPC talk.) Shortly afterwards the Overground arrived and prices have gone up since then by about 25%. I'm not sure how much of this is just an effect of loose monetary policy, but does anyone think that the Overground makes a difference?

There was always an overland train service on which Oyster cards could be used, but does a place appearing on the tube map suddenly make it exist in the minds of would-be buyers who otherwise would never have considered it?

When is she planning to sell, to realise these gains?

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i read an article in the economist a couple of years back about how HPI inflation along the london overground lines had outstripped HPI which was not.

Interesting. I'll have to look that up, thanks.

When is she planning to sell, to realise these gains?

Not anytime soon. The flat's greatest value is the utility value of not having to deal with any of Peckham's Rachmanesque landlords.

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If that flat has 'only' gone up 25% in a few years, it looks as though the Overground is actually having a negative effect! If you have a look at some of the other SE London threads, there are examples of 100% increases in a year that have actually sold.

In reality, I think it does add value for the simple reason that there is such a fervor to buy houses at the moment that people will take any small excuse to make an investment.

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Edmonton - do you know the place well ? I am intrigued what will happen when London Overground take over the train service in May but the Meredian Water scheme is of real interest, that part of the Lea Valley corridor could not be grimmer, so anything must be an improvement.

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that part of the Lea Valley corridor could not be grimmer, so anything must be an improvement.

Here's a game I can play: Falcon Street Alley, Deepdale. What have you got?

5046920414_50b15bdd33_z.jpg

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The Lea Valley is mostly industrial . Desolate train stations, knackered warehouses and industrial estates scattered amongst marsh land. Some buildings are squatted on a mass scale and there are regular invasions of car parks by travellers . The sewage works add aroma and sometimes the stench is eye watering. The north circuar road at its widest runs through it and over it by virtue of a flyover.

Its a different scene to ten foots with old mattresses and tatt. Its sometimes seen as the New Jersey of London. Deepdale photo does look desperate - can't compete with that residential mess.

Edited by chicker

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I went for a train driving job at London Overground (which I failed to get in a rather infuriating fashion), and while I was waiting for my interview I read the company magazine, which boasted that the Overground was responsible for increasing house prices in surrounding areas. Brockley is another example of where prices have gone absolutely mental.

In fairness in my experience the Overground is great, lots of fast, reliable trains. Wish I'd cottoned on to using it sooner.

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