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Been lurking on this site for a very long time (almost 10 years I think) and I've found it a great source of information to explain the madness we've witnessed in the last 10 years. 

I've been looking at this corner of South West London, and couldn't find a thread to track it specifically - so here goes. 

Been renting in this area since 2010, pretty much straight after landing my first decently paid job in London. It was a relatively undiscovered part, living in the shadows of its more famous cousin (Wimbledon) though has gone absolutely mental in terms of rental and sale prices ever since the Help To Buy scheme came in. Prices have effectively doubled since about 2011 onwards in some areas and they still seem to represent some semblance of value, when you compare it to nearby Wimbledon. 

Have been tracking it for the last 12 months and the froth seems to blowing off finally after a period of relentless price rises. Housing stock is generally 1930s 'Blay' style housing, with 2 pockets dominating. One is what's called the Apostles - 12 parallel streets within 0.5m of the station which are filled with rows of really narrow terraced houses, that are very popular with commuters and young families (though strangely are not in the catchment areas for any schools).

The other area and what we're looking in is the streets off Grand Drive, that runs for about 1 mile from the station before you hit Cannon Hill Common.

Anyway, just thought I'd say hi after all this time and see if anyone else is looking in the same area or has any information. Estate agents are still in ramping mode as there's rumours of Crossrail2 coming through this area - which will no doubt take prices even higher from where they are!

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Not sure what's going on with this one - seems to have increased from £775k to £795k after it didn't sell?

4 bedroom end of terrace house for sale -  £795,000

http://www.rightmove.co.uk/property-for-sale/property-65707400.html

07/08/2017,
  • Brief Description changed: Chain Free Home Looking For Additional Space? - Guide Price From £775,000 To £825,000 A substantial, four bedroom, family Located to the sought after cul de sac location. This spacious, beautifully presented property has tremendous scope. rear of a peaceful Cul De Sac, this 4 bedroom End Of Terrace home with exceptional credentials in benefits from attached double garage to side and wider then average garden offering excellent extension potential.
  • Price changed: Guide Price £775,000 £795,000
  • Title changed: Meadway, Raynes Park, London, SW20
15/05/2017,
  • Brief Description changed: Chain Free Home - Guide Price From £800,000 £775,000 To £830,000 £825,000 A substantial, four bedroom, family home with exceptional credentials in the sought after cul de sac location. This spacious, beautifully presented property has tremendous scope.  
  • Price changed: Guide Price £800,000 £775,000  
  • Subtitle changed: 4 bedroom terraced end of terrace house  
24/04/2017,
  • Brief Description changed: Chain Free Home - Guide Price From £800,000 £800,000 To £830,000 £830,000 A substantial, four bedroom, family home with exceptional credentials in the sought after cul de sac location. This spacious, beautifully presented property has tremendous scope.  
21/04/2017,
  • Brief Description changed: Chain Free Home - Guide Price From £800,000 £800,000 To £830,000 £830,000 A substantial, four bedroom, family home with exceptional credentials in the sought after cul de sac location. This spacious, beautifully presented property has tremendous scope.  
13/04/2017,
  • Brief Description changed: Chain Free Home - Guide Price From £800,000 £800,000 To £830,000 £830,000 A substantial, four bedroom, family home with exceptional credentials in the sought after cul de sac location. This spacious, beautifully presented property has tremendous scope.  
10/04/2017,
  • Brief Description changed: Chain Free Home - Guide Price From £800,000 £800,000 To £830,000 £830,000 A substantial, four bedroom, family home with exceptional credentials in the sought after cul de sac location. This spacious, beautifully presented property has tremendous scope.  
  • Brief Description changed: Chain Free Home - Guide Price From £800,000 £800,000 To £830,000 £830,000 A substantial, four bedroom, family home with exceptional credentials in the sought after cul de sac location. This spacious, beautifully presented property has tremendous scope.  
09/04/2017,
  • Brief Description changed: Chain Free Home - Guide Price From £800,000 £800,000 To £830,000 £830,000 A substantial, four bedroom, family home with exceptional credentials in the sought after cul de sac location. This spacious, beautifully presented property has tremendous scope.  
08/04/2017,
  • Initial entry found. 
 
   
 

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Another one that's taken a 10% drop within a month but still no sale. Original price was pure kit flying by the looks of it.

4 bedroom terraced house for sale -  £675,000

http://www.rightmove.co.uk/property-for-sale/property-66605894.html

17/07/2017,
  • Title changed: Springfield Avenue, London Wimbledon  
05/06/2017,
  • Price changed: from '£750,000' to '£675,000' 
24/05/2017,
  • Initial entry found. 

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One more that's had a 50k drop within a month - though it was through Foxtons, who always overprice in the hope of finding a fool that will pay asking.

3 bedroom house for sale - £649,950

http://www.rightmove.co.uk/property-for-sale/property-60097060.html

12/06/2017,
  • Price changed: from '£699,950' to '£649,950' 
26/05/2017,
  • Initial entry found. 

 

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Another with a 50k drop in less than 6 weeks!

4 bedroom end of terrace house for sale - £700,000

http://www.rightmove.co.uk/property-for-sale/property-49415742.html

8/29/2017, 5:46:47 PM
  • Price changed: Offers in Excess of £725,000 £700,000
8/10/2017, 12:52:04 AM
  • Price changed: £750,000 Offers in Excess of £725,000
7/19/2017, 2:23:07 PM
  • Initial entry found. 

 

I know someone who offered above what the latest asking price is, when it first came on to the market in July and was rejected outright! 

Not sure whether this is sellers being more realistic and dropping fast and furiously, or merely a case of chasing the market down?

 

 

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Some more anecdotal evidence from my personal experience - the market seems frozen and there is very little to no stock coming on.

Anything reasonably priced (1 in 25 properties) goes SSTC within a week, though there are still plenty of people who're trying for a 100% increase on the prices paid back in 2011-2012. In most cases, there isn't even any structural work done to warrant the increase, apart from a cosmetic tart up internally. 

 

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On 10/08/2017 at 0:57 AM, OttoMattik said:


Not sure what's going on with this one - seems to have increased from £775k to £795k after it didn't sell?

4 bedroom end of terrace house for sale -  £795,000

http://www.rightmove.co.uk/property-for-sale/property-65707400.html

07/08/2017,
  • Brief Description changed: Chain Free Home Looking For Additional Space? - Guide Price From £775,000 To £825,000 A substantial, four bedroom, family Located to the sought after cul de sac location. This spacious, beautifully presented property has tremendous scope. rear of a peaceful Cul De Sac, this 4 bedroom End Of Terrace home with exceptional credentials in benefits from attached double garage to side and wider then average garden offering excellent extension potential.
  • Price changed: Guide Price £775,000 £795,000
  • Title changed: Meadway, Raynes Park, London, SW20
15/05/2017,
  • Brief Description changed: Chain Free Home - Guide Price From £800,000 £775,000 To £830,000 £825,000 A substantial, four bedroom, family home with exceptional credentials in the sought after cul de sac location. This spacious, beautifully presented property has tremendous scope.  
  • Price changed: Guide Price £800,000 £775,000  
  • Subtitle changed: 4 bedroom terraced end of terrace house  
24/04/2017,
  • Brief Description changed: Chain Free Home - Guide Price From £800,000 £800,000 To £830,000 £830,000 A substantial, four bedroom, family home with exceptional credentials in the sought after cul de sac location. This spacious, beautifully presented property has tremendous scope.  
21/04/2017,
  • Brief Description changed: Chain Free Home - Guide Price From £800,000 £800,000 To £830,000 £830,000 A substantial, four bedroom, family home with exceptional credentials in the sought after cul de sac location. This spacious, beautifully presented property has tremendous scope.  
13/04/2017,
  • Brief Description changed: Chain Free Home - Guide Price From £800,000 £800,000 To £830,000 £830,000 A substantial, four bedroom, family home with exceptional credentials in the sought after cul de sac location. This spacious, beautifully presented property has tremendous scope.  
10/04/2017,
  • Brief Description changed: Chain Free Home - Guide Price From £800,000 £800,000 To £830,000 £830,000 A substantial, four bedroom, family home with exceptional credentials in the sought after cul de sac location. This spacious, beautifully presented property has tremendous scope.  
  • Brief Description changed: Chain Free Home - Guide Price From £800,000 £800,000 To £830,000 £830,000 A substantial, four bedroom, family home with exceptional credentials in the sought after cul de sac location. This spacious, beautifully presented property has tremendous scope.  
09/04/2017,
  • Brief Description changed: Chain Free Home - Guide Price From £800,000 £800,000 To £830,000 £830,000 A substantial, four bedroom, family home with exceptional credentials in the sought after cul de sac location. This spacious, beautifully presented property has tremendous scope.  
08/04/2017,
  • Initial entry found. 
 
   
 

Well, this one went SSTC finally. Will be tracking to see if it actually completes.

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I don't quite get the Apostles in Raynes Park. I think they're just trendy roads and the actual stock has been improved by redecorating and extending, but they're small and nothing special. A few years back you could rent there for under £1500 pm for a three bed house, yet they were selling for north of £650k. Didn't make sense. I lost interest in the area at that time.

Btw, on the subject of Wimbledon area I do think prices are dropping slightly in Wimbledon and perhaps surrounding. Certainly I'm seeing a lot of reductions on rightmove and lots of SSTC coming back on the market in the areas I follow.

But what is going on with this place's last sold price?

https://houseprices.io/?q=47+hartfield+crescent%2C+sw

 

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21 hours ago, dugsbody said:

I don't quite get the Apostles in Raynes Park. I think they're just trendy roads and the actual stock has been improved by redecorating and extending, but they're small and nothing special. A few years back you could rent there for under £1500 pm for a three bed house, yet they were selling for north of £650k. Didn't make sense. I lost interest in the area at that time.

 

 

I have seen that quite a lot during this bubble. The asking prices rocket due to speculation, but the rents go up much more slowly because renters aren't interested in competing in the same way as they haven't got so much to gain.

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21 hours ago, dugsbody said:

I don't quite get the Apostles in Raynes Park. I think they're just trendy roads and the actual stock has been improved by redecorating and extending, but they're small and nothing special. A few years back you could rent there for under £1500 pm for a three bed house, yet they were selling for north of £650k. Didn't make sense. I lost interest in the area at that time.

Btw, on the subject of Wimbledon area I do think prices are dropping slightly in Wimbledon and perhaps surrounding. Certainly I'm seeing a lot of reductions on rightmove and lots of SSTC coming back on the market in the areas I follow.

But what is going on with this place's last sold price?

https://houseprices.io/?q=47+hartfield+crescent%2C+sw

 

That is strange. It is too low to be a divorce sale.

I wonder if it has been split into flats and they are doing something sneaky with the freehold. That or maybe there is a garage on the site that they have sold separately?

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Just as a perspective from someone who rattles past Raynes Park on the fast line every weekday morning: I don't quite get the draw of Reynes Park and other more bland (apologies, just my opinion) looking outer suburbs. 

The value to be paid for property does not come close to what you can get outside the M25, it all looks a bit tatty and unspecial, the red SW trains are so slow the commute is hardly much faster (albeit cheaper!) than a white/blue SW fast line trains, theres a lack of real greenery (country parks, hills, farms) like you start to get from Woking onwards further down the mainline, the schools dont look any better. 

Is being within touch of outer London really so worth the rent/buy premium and the cramped lifestyle - is living in a  bland inactive  corner of London (to which you still have to travel to get anywhere) of any benefit beyond extra routes home after midnight?  Maybe the london nitelife is still accessible by taxi at night, maybe the place has a wonderful urban community and vibe i havent detected from views of the trainline, but what does living a few miles inside outer london offer that living a few miles outside cannot?

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On 02/09/2017 at 10:59 AM, dugsbody said:

I don't quite get the Apostles in Raynes Park. I think they're just trendy roads and the actual stock has been improved by redecorating and extending, but they're small and nothing special. A few years back you could rent there for under £1500 pm for a three bed house, yet they were selling for north of £650k. Didn't make sense. I lost interest in the area at that time.

Btw, on the subject of Wimbledon area I do think prices are dropping slightly in Wimbledon and perhaps surrounding. Certainly I'm seeing a lot of reductions on rightmove and lots of SSTC coming back on the market in the areas I follow.

But what is going on with this place's last sold price?

https://houseprices.io/?q=47+hartfield+crescent%2C+sw

 

I agree - we've looked around at the Apostles houses but they're all very narrow and the only way to get a third bedroom out of them is to go up into the loft by extending. No provision for off street parking and really tiny gardens. Good for young / new families but not really enough space to grow into - and they don't fall into the catchment area for either Wimbledon Chase Primary or West Wimbledon Primary (both ranked Outstanding).

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41 minutes ago, Does Commute Abit said:

Just as a perspective from someone who rattles past Raynes Park on the fast line every weekday morning: I don't quite get the draw of Reynes Park and other more bland (apologies, just my opinion) looking outer suburbs. 

The value to be paid for property does not come close to what you can get outside the M25, it all looks a bit tatty and unspecial, the red SW trains are so slow the commute is hardly much faster (albeit cheaper!) than a white/blue SW fast line trains, theres a lack of real greenery (country parks, hills, farms) like you start to get from Woking onwards further down the mainline, the schools dont look any better. 

Is being within touch of outer London really so worth the rent/buy premium and the cramped lifestyle - is living in a  bland inactive  corner of London (to which you still have to travel to get anywhere) of any benefit beyond extra routes home after midnight?  Maybe the london nitelife is still accessible by taxi at night, maybe the place has a wonderful urban community and vibe i havent detected from views of the trainline, but what does living a few miles inside outer london offer that living a few miles outside cannot?

 

I can't, hand over heart, defend Raynes Park for being a little bland. It was one of the first areas I rented in when I moved to London, and to be fair - that was one of the qualities I liked about it. Not too busy but close enough to Wimbledon (1.5m or 30m walking) to be in the centre of a very vibrant and busy town centre. Really good train service with SW Trains (now South Western) with service into Waterloo every 8-10m, even on weekends. Good access to the A3 if you want to venture out of London towards the Surrey Hills.

Both the missus and I are past the age where we really stay out past midnight, so the lack of all night tube/train service doesn't really make or break the decision for us. On the one or two occasions where we would stay out (say Xmas parties) - an Uber from Waterloo won't break the bank. Looked into moving further out and commuting, but I really don't see much value in areas further out on the trainline. Guildford, Woking, Teddington, Twickenham - you don't really get a lot more for your money (using £ per sq ft)  but once you leave the London zone region, you then become reliant on the train companies and their absolute ripoff pricing. 

Schools wise - Wimbledon and Merton are generally quite well catered, as long as you pick the right road to live on. Catchment areas for some of the best schools are tiny and the prices shoot up to eye watering levels, which actually makes private schooling more cost effective if you have only 1 or 2 children.

 

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On 9/3/2017 at 10:05 PM, OttoMattik said:

 

I can't, hand over heart, defend Raynes Park for being a little bland. It was one of the first areas I rented in when I moved to London, and to be fair - that was one of the qualities I liked about it. Not too busy but close enough to Wimbledon (1.5m or 30m walking) to be in the centre of a very vibrant and busy town centre. Really good train service with SW Trains (now South Western) with service into Waterloo every 8-10m, even on weekends. Good access to the A3 if you want to venture out of London towards the Surrey Hills.

Both the missus and I are past the age where we really stay out past midnight, so the lack of all night tube/train service doesn't really make or break the decision for us. On the one or two occasions where we would stay out (say Xmas parties) - an Uber from Waterloo won't break the bank. Looked into moving further out and commuting, but I really don't see much value in areas further out on the trainline. Guildford, Woking, Teddington, Twickenham - you don't really get a lot more for your money (using £ per sq ft)  but once you leave the London zone region, you then become reliant on the train companies and their absolute ripoff pricing. 

Schools wise - Wimbledon and Merton are generally quite well catered, as long as you pick the right road to live on. Catchment areas for some of the best schools are tiny and the prices shoot up to eye watering levels, which actually makes private schooling more cost effective if you have only 1 or 2 children.

 

I'm a bit further out in Surbiton, but this is exactly how I feel about it. If you compare the £ per square foot in the less fashionable areas of outer London like Surbiton and Raynes Park to places much further out, I don't see it as being that much different as long as the comparison is like for like.

Of course, the average price in, say, Guildford is cheaper than Raynes Park, but if you compare the nice roads a few minutes walk from the station in both areas, I doubt the difference would be very significant at all. If you are happy living a couple of miles away from the station, then I am sure you'd get much more for your money a few miles out of Guildford, but that type of area would be extremely quiet and boring which might not suit everyone as much as the relative blandness of Raynes Park/Surbiton.

I don't know Raynes Park or the Apostles, but it sounds a bit like the 'river roads' area of Surbiton. Small Victorian houses there sell for about £800k compared to more like £550-£600k in most of the rest of the area. 1930s semis are about £1.2m compared to £750-£800k elsewhere. This is purely because people that live there can walk to the river, the station or Waitrose in about 5 minutes. Nothing exceptional, but people seem happy to pay for that convenience. 

A lot of it is based on how fashionable an area is. I could buy in the 'best' part of Surbiton for a similar price to the worst part of Richmond simply because Richmond is more fashionable as an area. This makes no sense to me at all (although I'd be happy to live in the nice part of Richmond if I could afford it). I always look at the individual part of an area I am living in rather than the surrounds.

The one real downside of Surbiton and Raynes Park is that the trains are increasingly full before they arrive at these stations because of higher passenger numbers further out. It certainly isn't at Earlsfield levels yet, and it is still possible to pick certain trains that you know are going to be quieter, but it is certainly something that concerns me for the future.

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