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Wandsworth - How Far Will It Tumble?

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How big do people think the crash is going to be in Wandsworth?

Stagnation, 10%, 20%, 40%?

What are your predictions and why?

I hope TTRTR sees this! :)

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I hope TTRTR sees this! :)

:lol: LBW won't fall, it's different this time.

As these figures were produced by a VI, it is unlikely that they have been adjusted for inflation. Therefore, the positive figures for Wandsworth should really be negative. I can assure you that Wandsworth experienced significant falls in the last correction.

Chart previously posted by zzg113. Is he ever returning?

Edited by Buffer Bear

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It might be argued that parts of Wandsworth being reasonably affluent and pleasant, populated by professionals - many of them bankers, (pun intended) - with large, desirable homes, in a well-run borough, with good schools, in London etc etc might not crash as hard as say the rougher parts of Liverpool or Newcastle or even the capital.

For my own 2p, I live on the Magdalen Estate, close to Wandsworth Common. I've seen a couple of depressing-looking For Sale boards up for a long time, but not in the posher streets, and the houses have looked like they need work. I had some EAs value my place as I was and still am considering STR. With no work done to it at all, its price appears to have increased by as much as 10% in the three months up to Xmas. This cannot be right and there is a lot of variation in valuation price between agents (Foxtons appear to put it at about double what everyone else does), but even the same agent who valued it in Sept said it was worth more come Dec. The price does seem to have crept up.

When I questioned her as to why, she trotted out several reasons - City bonuses, Sipps (little did she know) and the basic that demand is currently greater than supply. So there appears to have been a rally of sorts. A temporary one though, I have no doubt.

I would expect between 10 and 20% drops myself, factoring in inflation maybe a little more. But if there is inflation, the actual price might not even drop that much, though value will.

I don't know. What do others think?

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Guest Winners and Losers

'Soft Landing'

It might be argued that parts of Wandsworth being reasonably affluent and pleasant, populated by professionals - many of them bankers, (pun intended) - with large, desirable homes, in a well-run borough, with good schools, in London etc etc might not crash as hard as say the rougher parts of Liverpool or Newcastle or even the capital.

For my own 2p, I live on the Magdalen Estate, close to Wandsworth Common. I've seen a couple of depressing-looking For Sale boards up for a long time, but not in the posher streets, and the houses have looked like they need work. I had some EAs value my place as I was and still am considering STR. With no work done to it at all, its price appears to have increased by as much as 10% in the three months up to Xmas. This cannot be right and there is a lot of variation in valuation price between agents (Foxtons appear to put it at about double what everyone else does), but even the same agent who valued it in Sept said it was worth more come Dec. The price does seem to have crept up.

When I questioned her as to why, she trotted out several reasons - City bonuses, Sipps (little did she know) and the basic that demand is currently greater than supply. So there appears to have been a rally of sorts. A temporary one though, I have no doubt.

I would expect between 10 and 20% drops myself, factoring in inflation maybe a little more. But if there is inflation, the actual price might not even drop that much, though value will.

I don't know. What do others think?

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On findaproperty.co.uk there seems to be a load of new properties added. In SW18 there are more for sale than for rent. Lot's of the flats for sale look unoccupied and recently done up! My guess is that outer places and some less popular places in Wandsworth will have a long way to fall. Places along Garrratt Lane from Wandworth-Earlsfield-Tooting look suspect at the moment.

In 2002 we sold our small 1-bed flat in Garratt Lane for £130k (asking price £135k). Now asking price for a similar spec flat is £145k - that's £10k on the asking price over 4 years!!

Findaproperty.co.uk is invaluable for London searches.

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LBW is unlikely to experience a softlanding, just like last time. Houses on my road (SW12) are starting to fall (nethouseprices.com) compared to early last year. Houses which were fetching between 460k - 500k 2004/2005 (early part) are now selling for 410- 420k and they are all similar. In 1997/8, they sold for 160k -180k.

Sale Date Price Type Tenure

12/10/2005 £415,000 Ter. F/H

04/08/2005 £355,000 Ter. F/H This needed complete refurbishment

28/07/2005 £410,000 Ter. F/H

18/07/2005 £420,000 Ter. F/H

24/06/2005 £464,000 Ter. F/H

25/02/2005 £461,000 Ter. F/H

17/09/2004 £475,000 Ter. F/H

20/08/2004 £460,000 Ter. F/H

28/06/2004 £450,000 Ter. F/H

26/05/2004 £422,000 Ter. F/H This needed some work

20/05/2004 £494,000 Ter. F/H

01/04/2004 £475,000 Ter. FH

Edited by Buffer Bear

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I am SW18. For me it has stagnated since late 2003 with a few types of property bucking the trend (eg large family houses etc). Over last 12 months I have seen selected reductions and would say on average prices are no higher or below 2004 prices (when achieved). The exceptions will sell here at very high prices given the money around but the average is starting a down trend - although this is now a prime borough, will always be desirable and falls here will be some of the lowest in the country in my opinion. 15% by late 2007 at a guess. Our neighbours just took their off the market after 5 months - wanted big price but no offers.

The swathe of new 2/3 bd flats by the river is causing a glut and they are seriously in trouble - pity the guys who bought some of the first developments in 2003/4 - they will see BIG falls.

Edited by Tempest

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If one calculates the difference between 2004/2005 house prices on my road, the percentage drop is 9%, so only another 6% to go in Balham? I know it is only one example but I can tell you the prices of 2005 are the new trend and set to go lower. There will be no soft landing no matter how desirable Wandsworth currently is. All that will happen is that the well paid professions will simply go back to living in the old desirable areas such as Chelsea etc which is where they used to live before being priced out.

Edited by Buffer Bear

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On findaproperty.co.uk there seems to be a load of new properties added. In SW18 there are more for sale than for rent. Lot's of the flats for sale look unoccupied and recently done up! My guess is that outer places and some less popular places in Wandsworth will have a long way to fall. Places along Garrratt Lane from Wandworth-Earlsfield-Tooting look suspect at the moment.

In 2002 we sold our small 1-bed flat in Garratt Lane for £130k (asking price £135k). Now asking price for a similar spec flat is £145k - that's £10k on the asking price over 4 years!!

Findaproperty.co.uk is invaluable for London searches.

A quick update:

What the hell has been happening in SW18 over the last 2 years?? Noticing that 1 bed flats and there are lot's of them are for sale at 250k. 2 and 3 bed flats on busy Garratt Lane are up for as much as 330k!!

I'm calling the top right now.

Out of interest does anyone think Earlsfield will remain a popular spot in a crash??

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Wandsworth has seen phenomenal gains this past year.

Earlsfield in particular. John Wrigglesworth was talking about E. in the property podcast - http://commoditywatch.podbean.com/2007/07/...or-pear-shaped/

But I think we have seen the top too.

See this thread - http://www.housepricecrash.co.uk/forum/ind...ing's+afoot

I lived in Balham 87 to 89. Visited friends off and on since.

You know the bubble has hit the top when people have bidding wars over flats in Balham.

When the tide went out last time it was desperate - half the shops in Balham were shut down for most of the nineties - the tube station in Balham didn't have any adverts, nobody was willing to pay for them.

Prices tanked.

People don't choose to live in Balham if they can afford places like Putney.

The people who bought flats in the south of Wandsworth for £300k will have many happy days pottering up and down the grim depths of the Northern Line rueing there rashness.

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Out of interest does anyone think Earlsfield will remain a popular spot in a crash??

Yes Earlsfield will remain popular with the following:

Families - there is a stock of 4/5 bedroom houses, with garden's and sometimes drives. Some good local and private schools. Wandsworth common not too far away the journey to town from Earlsfield train station is better that the tube. Houses now seen to be sold to either city types or couples who have sold up other properties to purchase a house. Some of the smaller victorian terraces are also owned by families that appear to either own countriy cottages or spend most weekends away from home. Aeroplanes quieter than Putney.

Speculators - buy the houses in grottier parts and turn them into flats - some of the Victorian Houses while looking like two storeys from the front have thre storeys at the back plus large lofts and cellars that can also be converted - the builders seem to be able to turn these houses into three flats and appear to be still at it if the skips are anything to go by. Hoping this might end with the crash.

Young professionals - especially south africans seem to either be renting or buying up all the flats. Wandsworth Town centre is not that far with a good cinema and Waitrose. As above good links to the city by train Waterloo only 16 minutes away then the drain to bank. I suspect if there is still work in London this will continue however if there is a downturn they may be the first to go - especially as most seem to be employed in those boom type jobs finance, marketing etc.

Garratt Lane is pretty grotty with a couple of average restaurants and maybe two good pubs.

Don't get me wrong I'd like to see a crash but I believe the % drops in Earlsfield will be lower than Balham and Tooting.

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Wandsworth may tumble in as much as it all may tumble BUT relative to elsewhere in London Wandsworth will only go up. I viewed a house on Tonsley Hill round Xmas on market for 685 - the agent told me it went for 690 - I didnt believe him - its now on land registry - house for sale there now at 750 with Savills - on nearby Bramford road 3 bed for 850 - Tonsley Place 1.1 Mil with Cound

It is as has been said good for Waterloo/City/CW, theres the common, theres good schools, nice pubs, restaurants etc. & the town centre is being revamped with the brewery project. Putney one side, Battersea the other & Chelsea over the river. Now may be a bad time to buy anywahere but long term Wandsworth is a sound bet

I do wonder about the ever bigger flats by the river though...

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How big do people think the crash is going to be in Wandsworth?

Stagnation, 10%, 20%, 40%?

What are your predictions and why?

Not specifically for Wandsworth but in general I see prices falling back to their 2000 levels which is the mid point of the upwave. So the amount of drop will depend on how far they have risen since then. In the areas I am knowledgable about this ranges from 50-100% i.e. a fall of 33 - 50%...

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Wandsworth may tumble in as much as it all may tumble BUT relative to elsewhere in London Wandsworth will only go up. I viewed a house on Tonsley Hill round Xmas on market for 685 - the agent told me it went for 690 - I didnt believe him - its now on land registry - house for sale there now at 750 with Savills - on nearby Bramford road 3 bed for 850 - Tonsley Place 1.1 Mil with Cound

It is as has been said good for Waterloo/City/CW, theres the common, theres good schools, nice pubs, restaurants etc. & the town centre is being revamped with the brewery project. Putney one side, Battersea the other & Chelsea over the river. Now may be a bad time to buy anywahere but long term Wandsworth is a sound bet

I do wonder about the ever bigger flats by the river though...

I don't agree. Wandsworth is a typical suburb and one of those areas that prospers when prices rise in more desirable areas; and falls back sharply when the opposite happens. I remember it well from the last crash. We got out just in time! Given the rout on city jobs I expect to see a harder landing this time round.

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I don't agree. Wandsworth is a typical suburb and one of those areas that prospers when prices rise in more desirable areas; and falls back sharply when the opposite happens. I remember it well from the last crash. We got out just in time! Given the rout on city jobs I expect to see a harder landing this time round.

Maybe - but it could be that the 'more desirable areas' won't fall - they are not subject to libor

In any case Wandsworth is not the suburb it was last time round

It has gentrified beyond recognition like much of SW Ldn

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Jeez - this must be one of the most off-the mark threads of last year. We realised an extra 30% by selling in 07 rather than 06. Will prices go down? Who knows, but I reckon my chances of being able to by back in if required are slighter than the odds of prices keeping on going up.

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LBW is unlikely to experience a softlanding, just like last time. Houses on my road (SW12) are starting to fall (nethouseprices.com) compared to early last year. Houses which were fetching between 460k - 500k 2004/2005 (early part) are now selling for 410- 420k and they are all similar. In 1997/8, they sold for 160k -180k.

Sale Date Price Type Tenure

12/10/2005 £415,000 Ter. F/H

04/08/2005 £355,000 Ter. F/H This needed complete refurbishment

28/07/2005 £410,000 Ter. F/H

18/07/2005 £420,000 Ter. F/H

24/06/2005 £464,000 Ter. F/H

25/02/2005 £461,000 Ter. F/H

17/09/2004 £475,000 Ter. F/H

20/08/2004 £460,000 Ter. F/H

28/06/2004 £450,000 Ter. F/H

26/05/2004 £422,000 Ter. F/H This needed some work

20/05/2004 £494,000 Ter. F/H

01/04/2004 £475,000 Ter. FH

How wrong I was!!

If one calculates the difference between 2004/2005 house prices on my road, the percentage drop is 9%, so only another 6% to go in Balham? I know it is only one example but I can tell you the prices of 2005 are the new trend and set to go lower. There will be no soft landing no matter how desirable Wandsworth currently is. All that will happen is that the well paid professions will simply go back to living in the old desirable areas such as Chelsea etc which is where they used to live before being priced out.

How wrong I was

I lived in Balham 87 to 89. Visited friends off and on since.

You know the bubble has hit the top when people have bidding wars over flats in Balham.

When the tide went out last time it was desperate - half the shops in Balham were shut down for most of the nineties - the tube station in Balham didn't have any adverts, nobody was willing to pay for them.

Prices tanked.

People don't choose to live in Balham if they can afford places like Putney.

The people who bought flats in the south of Wandsworth for £300k will have many happy days pottering up and down the grim depths of the Northern Line rueing there rashness.

This is likely to happen again, it is just running a little late

I don't agree. Wandsworth is a typical suburb and one of those areas that prospers when prices rise in more desirable areas; and falls back sharply when the opposite happens. I remember it well from the last crash. We got out just in time! Given the rout on city jobs I expect to see a harder landing this time round.

As above. I still haven't learnt that I should not make predictions!!! The above houses on my road now come on with an asking price of 750k :unsure::blink::(:o:huh: This bubble is simply unprecedented. Will it happen again??

Edited by Buffer Bear

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Everybody was wrong - not a single person or organisation predicted anything near this

No one predicted SW15/16/17/18 house prices would go up 50% in the best part of 18 months - from already the heavily inflated prices of 2005.

I reckon you could have easily got 1000 to 1 in the bookies back in 2005 if you'd have backed a 50% rise.

A painful experience for those 2005 Wandsworth STRs

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Isn't Wandsworth full of people who are waiting to cash in their terraced houses and buy big detached houses in Devon, Dorset, Norfolk and suchlike? If a lot of rural aspirationalists decide now is the time to make the move, prices will plummet.

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2007-07-31 39 Dempster Road, Wandsworth, London, Greater London, SW18 1AS £880,000

2006-12-21 10 Dempster Road, Wandsworth, London, Greater London, SW18 1AT £760,000

2006-12-19 11 Dempster Road, Wandsworth, London, Greater London, SW18 1AS £825,000

2006-11-10 27 Dempster Road, Wandsworth, London, Greater London, SW18 1AS £920,000

three bed houses in the tonsleys are going for 900 grand - albeit with converted lofts and sidereturns - thats still only about 1500 square feet

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Crazy increases in Wandsworth indeed.

I bought a new-build 1000sq ft flat there in March for 600K and have just got an offer for it for 700K. That's almost 20% increase in 6 months. Seems a bit silly to sell a place so soon after buying it but I can't take the heat any more. I'm going to bank the 70K difference and move into rental accommodations I think. If anyone thinks I'm making a mistake, please let me know ASAP! This can't keep going on, can it?

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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