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Ealing same price as Pimlico


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Some great bear food recently  but this was the quote of the week for me. This article was posted in a couple of other threads but I think this quote deserves a bit more attention. How long are they going to continue this insanity and fraud? This deserves to be pinned to the front door of every London estate agent. 

“Prices have really risen steeply over the past five or six years to the point that a two-bedroom new build in Ealing costs the same as one in Pimlico,” said Alex Jerram, a broker at Dauntons. “You cannot justify asking the same price for a property in greater London as one in central London. If sellers really need to sell, they have to reduce prices.”

https://www.bloomberg.com/news/articles/2017-03-01/these-are-the-places-in-london-where-house-prices-are-falling

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The power of Crossrail!

The Chinese were also apparently buying up Shenfield - the end of the Crossrail line in Essex. No one of course pointed out that no one in their right mind would take Crossrail to go to central London from Shenfield as it takes more than twice as long as the Greater Anglia fast trains and will stop at about 15 places on the way including such glamorous locations such as Ilford and Romford.

 

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On 04/03/2017 at 6:21 AM, AvoidDebt said:

Some great bear food recently  but this was the quote of the week for me. This article was posted in a couple of other threads but I think this quote deserves a bit more attention. How long are they going to continue this insanity and fraud? This deserves to be pinned to the front door of every London estate agent. 

“Prices have really risen steeply over the past five or six years to the point that a two-bedroom new build in Ealing costs the same as one in Pimlico,” said Alex Jerram, a broker at Dauntons. “You cannot justify asking the same price for a property in greater London as one in central London. If sellers really need to sell, they have to reduce prices.”

https://www.bloomberg.com/news/articles/2017-03-01/these-are-the-places-in-london-where-house-prices-are-falling

Who in their right mind would pay the same for Ealing as Pimlico?

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On ‎04‎/‎03‎/‎2017 at 6:21 AM, AvoidDebt said:

Some great bear food recently  but this was the quote of the week for me. This article was posted in a couple of other threads but I think this quote deserves a bit more attention. How long are they going to continue this insanity and fraud? This deserves to be pinned to the front door of every London estate agent. 

“Prices have really risen steeply over the past five or six years to the point that a two-bedroom new build in Ealing costs the same as one in Pimlico,” said Alex Jerram, a broker at Dauntons. “You cannot justify asking the same price for a property in greater London as one in central London. If sellers really need to sell, they have to reduce prices.”

https://www.bloomberg.com/news/articles/2017-03-01/these-are-the-places-in-london-where-house-prices-are-falling

 

I expect that was a bit of an edge example that he has chosen there - a top-end luxury development in Ealing, versus a run of the mill one in Pimlico.

At the same time, I don't necessarily agree that central London has to be more expensive than greater London. I was in Walworth last week, (just over a mile walk from the City) and the prices of most of the conversion flats were comfortably cheaper than where I live in Surbiton, and would be much cheaper than the same type in Ealing or Richmond.

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  • 5 weeks later...

Pimlico is prime central london (Between Chelsea and Westminster, and by the river).. as nice as Ealing is.. there's a big difference between the two.. hence why Ealing is so over-valued, mainly by new builds which are sold off plan to far east investors.

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  • 2 months later...
On 06/04/2017 at 5:34 PM, Mr Foster said:

Pimlico is prime central london (Between Chelsea and Westminster, and by the river).. as nice as Ealing is.. there's a big difference between the two.. hence why Ealing is so over-valued, mainly by new builds which are sold off plan to far east investors.

Value is what people are willing to pay to live in an area.

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