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Sw London - Gone Crazy


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Just looking at rightmove and came across this listing

http://www.rightmove.co.uk/property-for-sale/property-52637191.html

Words actually fail me.

Early viewing is highly recommended due to the property being realistically priced.

The whole thing smacks of absolute desperation to me. Another buy-to-let investor trying to bail out quietly before the inevitable freefall in prices?

My prediction is that it will sit on Rightmove waiting for a spring bounce that will never happen, and will quietly be withdrawn over the summer.

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Posting the link? Just to share my shock at it. I've been watching prices go crazy in this area but this is, imo obviously, just out and out certifiable crazy.

The prices in London are crazy full stop, I agree that the property is marketed at a crazy price but in comparison to other properties it's very cheap. Half a mile up the road in Balham 2 beds go for 750-800K so in comparison that shoebox is a bargain!

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  • 4 weeks later...

I have just seen on Rightmove one of the minute 2 bed cottages in Coteford St, SW 17, up for sale for £575K. It is 48.4 sq m!

The EA blurb actually says, suitable for those looking to upsize! We looked at one of these when my daughter was looking in the area - they are TINY.

Not far away in Salterford Road there are 3 bed Edwardian maisonettes with small gardens, 80 sq m, for around the same price.

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  • 8 months later...
  • 1 year later...
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  • 11 months later...

First time for ages, have just had a nose at an old search area - 2 bed flats/maisonettes in Sw17. 

Prices definitely down - saw a couple - OK, needing major renovation - but priced at £375k ish, when not long ago even those would have been more like £425k, , if not more.  Though there's   still a major doer-upper that must have been on the market for 2 years now, still wanting £450k.  And that one started at not far off £600k, which was crazy even at the peak, given the amount of work needed. 

 

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