Beaconsfield And Gerrards Cross

[eternalnomad]

Hi everyone,

we are in the early stages of a possible move to the west London area.

Can anyone advise the state of current market in the Gerrards Cross / Beaconsfield / Stoke Poges area (even anecdotal)

thanks in advance

EternalNomad

[whiterabbit]

Hi everyone,

we are in the early stages of a possible move to the west London area.

Can anyone advise the state of current market in the Gerrards Cross / Beaconsfield / Stoke Poges area (even anecdotal)

thanks in advance

EternalNomad

Still good and not dropping especially in the nice villages. I do however see a lot more on the market in the 400-650 range but no panic yet.

[eternalnomad]

Still good and not dropping especially in the nice villages. I do however see a lot more on the market in the 400-650 range but no panic yet.

thanks for feedback.

It looks like we will be renting then and wait for the prices to tumble (which they will)

[whiterabbit]

thanks for feedback.

It looks like we will be renting then and wait for the prices to tumble (which they will)

Depending on what price range you are in I am not sure they will ever tumble in this area. Lots and lots of very rich people who own outright and buy in cash. Also a lot of people with young kids trying to move in for the schools. It is probably one of the most resilient areas in the SE.

[eternalnomad]

Depending on what price range you are in I am not sure they will ever tumble in this area. Lots and lots of very rich people who own outright and buy in cash. Also a lot of people with young kids trying to move in for the schools. It is probably one of the most resilient areas in the SE.

Hi whiterabbit.

£800K ish area

you are right about the area - I had another drive around there yesterday and I concur that it is very nice, has good schools and probably will be one of the last place to tumble....but tumble it will....just perhaps a later than most other areas.

Arguably I am one of those "rich" (whatever that means) people you refer to and would be making my purchase outright in cash - but one reason I am relatively "rich" is because I am not stupid enough to buy at the top of this bubble however attractive the area.

Would you say that Amersham is in a similar league in terms of resilience (although it doesnt seem as exclusive as Gerrards Cross or Beaconsfield) - I was there last night and it seemed quite a nice place to live.

thanks

Edited January 24, 2006 by eternalnomad

[whiterabbit]

Hi whiterabbit.

£800K ish area

you are right about the area - I had another drive around there yesterday and I concur that it is very nice, has good schools and probably will be one of the last place to tumble....but tumble it will....just perhaps a later than most other areas.

Arguably I am one of those "rich" (whatever that means) people you refer to and would be making my purchase outright in cash - but one reason I am relatively "rich" is because I am not stupid enough to buy at the top of this bubble however attractive the area.

Would you say that Amersham is in a similar league in terms of resilience (although it doesnt seem as exclusive as Gerrards Cross or Beaconsfield) - I was there last night and it seemed quite a nice place to live.

thanks

Yes Amersham is nice especially old town although a few idiots drunk now and again, most everything is good in the whole area other than a few bits of Chesham. I live in Chorleywood which I like and the Chalfonts are also good. Personally I would buy in one of the villages as long as walking to the train isn't important.

So I suppose what I am saying is yes the whole area will hold up well. As a matter of interest most things over about 750 sell almost immediatly in Chorleywood, Loudwater, Chenies etc so I think there is still a lot of demand. Lots and lots of people getting out of London for a better quality of life...............

By the way I don't consider someone rich with a 800k house and most people I know earning 80k plus are still not well off and cannot afford a nice house in this area. Its when they inherit money etc that they move in and thats why it has resilience.

[Tempest]

Yes Amersham is nice especially old town although a few idiots drunk now and again, most everything is good in the whole area other than a few bits of Chesham. I live in Chorleywood which I like and the Chalfonts are also good. Personally I would buy in one of the villages as long as walking to the train isn't important.

So I suppose what I am saying is yes the whole area will hold up well. As a matter of interest most things over about 750 sell almost immediatly in Chorleywood, Loudwater, Chenies etc so I think there is still a lot of demand. Lots and lots of people getting out of London for a better quality of life...............

By the way I don't consider someone rich with a 800k house and most people I know earning 80k plus are still not well off and cannot afford a nice house in this area. Its when they inherit money etc that they move in and thats why it has resilience.

I have seen target houses in Beaconsfield move down a little from >£800k to £750k and sell quite quickly.

I am looking at this area but want to pay no more than £700k for a big high quality 5 bed. I think we will get there but I agree they won't tumble as far as other areas.

Don't forget that buyers here are often London sellers so if London prices move down these prices cannot hold up indefinitely.

[enworb]

I agree that houses in Gerrards Cross will sustain their current values, because similar to those buying in Wentworth, money is often not an issue. The lifestyle that the buyers want is available and so they will pay handsomely for it.

I don't know for sure, but i'd guess Gerrards Cross doesn't have a high turnover of house sales because it has always been out of the buying range of the majority of us. And so, they have probably been passed doen the generations as an inheritence.

Certainly a place to consider if I win the lottery, although for that sort of money I would prefer the Carabbean and to live off of the difference.

[whiterabbit]

I agree that houses in Gerrards Cross will sustain their current values, because similar to those buying in Wentworth, money is often not an issue. The lifestyle that the buyers want is available and so they will pay handsomely for it.

I don't know for sure, but i'd guess Gerrards Cross doesn't have a high turnover of house sales because it has always been out of the buying range of the majority of us. And so, they have probably been passed doen the generations as an inheritence.

Certainly a place to consider if I win the lottery, although for that sort of money I would prefer the Carabbean and to live off of the difference.

You know as a matter of interest I work with loads of Americans and wealthy Brtis etc who have houses in the UK and one of the main overlooked reasons is council tax or property tax. Example in the US or a lot of the Carribean tax is based on house value. Examples being in Gerrads Cross a 1 million pound house pays about 1800 a year tax. A similar value house in most of the US would cost about 10k to 15k a year. This makes the UK very attractive in retirement especially combined with the healthcare issue and very cheap flights.

[gone west]

You know as a matter of interest I work with loads of Americans and wealthy Brtis etc who have houses in the UK and one of the main overlooked reasons is council tax or property tax. Example in the US or a lot of the Carribean tax is based on house value. Examples being in Gerrads Cross a 1 million pound house pays about 1800 a year tax. A similar value house in most of the US would cost about 10k to 15k a year. This makes the UK very attractive in retirement especially combined with the healthcare issue and very cheap flights.

Shut your mouth! I don't want everyone to know my plan!

[Tempest]

Asking prices of big houses in Gerrards Cross and south Bucks coming down in leaps and bounds in the new year!

Here is a house I saw on Knight Frank's website late last year:

http://www.knightfrank.co.uk/WS1010372 A cool £1,000,000. Doesn't actually look horrifically bad value (relatively speaking!!) given the rest of the market around there but still toppy.

Problem is, only last month it was £1,250,000... So only a 20% drop in asking price on the month then. See this link for the cached evidence from google.

http://72.14.207.104/search?q=cache:TsjRYb...uk&ct=clnk&cd=2

I am going to show the wife to help my arguments for delaying our purchase in this neck of the woods a bit longer. Problem is she may start to get ideas above her station about what we can afford.

[gone west]

Looks a cracking house Tempest. 2.5 acres bordering a park. Superb! I have seen a lot worse for that money.

[eternalnomad]

Asking prices of big houses in Gerrards Cross and south Bucks coming down in leaps and bounds in the new year!

Here is a house I saw on Knight Frank's website late last year:

http://www.knightfrank.co.uk/WS1010372 A cool £1,000,000. Doesn't actually look horrifically bad value (relatively speaking!!) given the rest of the market around there but still toppy.

Problem is, only last month it was £1,250,000... So only a 20% drop in asking price on the month then. See this link for the cached evidence from google.

http://72.14.207.104/search?q=cache:TsjRYb...uk&ct=clnk&cd=2

I am going to show the wife to help my arguments for delaying our purchase in this neck of the woods a bit longer. Problem is she may start to get ideas above her station about what we can afford.

Tempest - you are a star for finding this evidence and like yourself I will strengthen my argument with the wife to move into rented first once we sell

It looks like a lovely house and when it drops another 20% (which it will) we could well be bidding against each other to see who can buy it for the least amount possible

[Tempest]

Tempest - you are a star for finding this evidence and like yourself I will strengthen my argument with the wife to move into rented first once we sell

It looks like a lovely house and when it drops another 20% (which it will) we could well be bidding against each other to see who can buy it for the least amount possible

I think there will be other properties on the go at reduced prices by then! Enough to go around.

Seriously though, £250,000 off is a saving of at least £500,000 of lifetime cash over the life of a 25 yr mortgage and more like a £750,000 saving if you factor in what the £250,000 could return in investment (ie lost opportunity cost of the mortage payment otherwise used to meet that £250k principal). Thats enough future income "saved" to buy a second house abroad in 15 yrs and the rest.

If I tell my wife we are 3/4 of a million punds better off as a result of waiting she should come my way...

As the 600k houses drop to 500k etc the 800k+ ones will drop down too. I'd say sometime during 2007 for me to look at buying in Bucks - maybe back end of the year. I am not planning to call the bottom just get something not far off the trend line.

For what its worth I bet you could buy the house above now for £900k. Looks like a developer number.

[whiterabbit]

I think there will be other properties on the go at reduced prices by then! Enough to go around.

Seriously though, £250,000 off is a saving of at least £500,000 of lifetime cash over the life of a 25 yr mortgage and more like a £750,000 saving if you factor in what the £250,000 could return in investment (ie lost opportunity cost of the mortage payment otherwise used to meet that £250k principal). Thats enough future income "saved" to buy a second house abroad in 15 yrs and the rest.

If I tell my wife we are 3/4 of a million punds better off as a result of waiting she should come my way...

As the 600k houses drop to 500k etc the 800k+ ones will drop down too. I'd say sometime during 2007 for me to look at buying in Bucks - maybe back end of the year. I am not planning to call the bottom just get something not far off the trend line.

For what its worth I bet you could buy the house above now for £900k. Looks like a developer number.

I hope you are right and stuff does fall however not convinced yet.

[ajh]

Yes Amersham is nice especially old town although a few idiots drunk now and again, most everything is good in the whole area other than a few bits of Chesham. I live in Chorleywood which I like and the Chalfonts are also good. Personally I would buy in one of the villages as long as walking to the train isn't important.

So I suppose what I am saying is yes the whole area will hold up well. As a matter of interest most things over about 750 sell almost immediatly in Chorleywood, Loudwater, Chenies etc so I think there is still a lot of demand. Lots and lots of people getting out of London for a better quality of life...............

By the way I don't consider someone rich with a 800k house and most people I know earning 80k plus are still not well off and cannot afford a nice house in this area. Its when they inherit money etc that they move in and thats why it has resilience.

Interesting. Chesham is the first place I can actually remember living, back in 1961 when I was 5 and a bit. A long time ago . . .

But I digress.

As far as I am concerned, anyone who can pay 800K GBP cash for a house is rich by any sensible definition. They are well inside the top one-thousandth of the world's population, and inside the top one or two percent in the UK. Similarly, people with 80K GBP incomes are simply lying (and perhaps even to themselves) whenever they argue they are "not well off". They are earning 3 times the national average.