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doomwatch

Clapham South

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Noticed in the last 2-3 months the same old to-let signs. Lying empty.

Now seeing loads of stuff for sale. Some shifting, some not.

In Nightingale triangle, looks like all the BTLs are cashing in. On my road

alone there has been about 5 places sold in the last month & now the place

next door is having an extreme make-over on the garden (which is a tip), so

I'm guessing the land lord is making moves.

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Guest Winners and Losers

Noticed in the last 2-3 months the same old to-let signs. Lying empty.

Now seeing loads of stuff for sale. Some shifting, some not.

In Nightingale triangle, looks like all the BTLs are cashing in. On my road

alone there has been about 5 places sold in the last month & now the place

next door is having an extreme make-over on the garden (which is a tip), so

I'm guessing the land lord is making moves.

I can hear TTRTR coming. :unsure:

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Similar is happening in Greenwich, only problem is they are being snapped up. Admittedly there are the same old undesirable properties that don't sell and pig headed owners will not reduce but the market is definately buoyant. Properties that have been on the market and not sold are also increasing asking prices.

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Guest Winners and Losers

I've seen him polishing his for sale signs & putting new plants by the door.

:lol::lol:

Is he cute? :unsure:

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If this 3 bed with f00k all garden goes for 700K I'm emmigrating from this sh1t hole run by morons at

every level. Pushing their luck ? Nice chav tastic flooring for 700k !!! ...

http://buckleysonline.webdadi.biz/details....55-855C02C123A2

However (ducks for cover), its a good area and has off street parking and a garage (very unusual for round there)... not such an overpriced sh1thole, then, although the nasty spiral staircase is truly awful. And you're right about the floor.

Like the name of the agent though... very droll and probably very appropriate.

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More clutching at straws by the doom-mongers who are desperately looking around for any bit of bad news, no matter how trivial, that will cause a property crash.

This pointless thread just goes to prove the desperation and frustration of the doom-mongers who are completely baffled as to why the housing boom is still continuing and are too blinkered by their own views to understand what is keeping the property market going.

The property bears have lost and the property bulls have won.

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More clutching at straws by the doom-mongers who are desperately looking around for any bit of bad news, no matter how trivial, that will cause a property crash.

This pointless thread just goes to prove the desperation and frustration of the doom-mongers who are completely baffled as to why the housing boom is still continuing and are too blinkered by their own views to understand what is keeping the property market going.

The property bears have lost and the property bulls have won.

It's hardly any more pointless than you spouting the same old drivel again and again. Change the record you *****. Or pull that umbrella out of your backside and give your **** a chance.

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More clutching at straws by the doom-mongers who are desperately looking around for any bit of bad news, no matter how trivial, that will cause a property crash.

This pointless thread just goes to prove the desperation and frustration of the doom-mongers who are completely baffled as to why the housing boom is still continuing and are too blinkered by their own views to understand what is keeping the property market going.

The property bears have lost and the property bulls have won.

Not really. Just walked past another this morning round the corner from Majestic wine. Been empty and on the market with a D & G "FOR SALE" sign for the last 2 months. Guess what, this morning another EA sign appear with "TO LET". You're talking sh1t.

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Guest Fiddlesticks

...and you've still got an umbrella stuck up your @rse :lol:

Ahhh, the shrewd weighing of data, the insightful analysis!

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I was in Putney last night for a wedding reception and stayed over in Wandsworth.

The reason I’m telling you this is because I took the opportunity to have a look around the Northwest side of Wandsworth Common, and take walk down memory lane. If I was vaguely was aware that peeps were paying some eye watering prices for fairly run of the mill 4 to5 bed Victorian terraces in the roads around the common, then I guess that I was pretty amazed to find that these properties were coming under offer for circa £775K or better – for the avoidance of doubt I’m specifically talking about the area comprising Melody and Cicada Roads?

Nothing exceptional about any of these properties you might think? But hang on:

http://www.findaproperty.com/agent.aspx?ag...prop&pid=599293

http://www.findaproperty.com/agent.aspx?ag...prop&pid=637362

While I’m not suggesting that these are representative of whatever properties maybe available on the market locally, I guess you also have to accept that the pricing is probably not too far out? Anyway, the point I want to make is that I bought in one of these roads in circa 1982 for £39,500 – and OK, it was an executor’s sale and so the house need a lot of work doing to it – but, even then you’ll note that that price would only just exceed (by £8,300) the cost of the stamp on the cheaper of the two properties!

I’m kinda of left wondering what sort of HPC you think you’re going to need to bring these prices back into the range of affordability?

Cheers

KF

Edited by KentishFella

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I was in Putney last night for a wedding reception and stayed over in Wandsworth.

The reason I’m telling you this is because I took the opportunity to have a look around the Northwest side of Wandsworth Common, and take walk down memory lane. If I was vaguely was aware that peeps were paying some eye watering prices for fairly run of the mill 4 to5 bed Victorian terraces in the roads around the common, then I guess that I was pretty amazed to find that these properties were coming under offer for circa £775K or better – for the avoidance of doubt I’m specifically talking about the area comprising Melody and Cicada Roads?

Nothing exceptional about any of these properties you might think? But hang on:

http://www.findaproperty.com/agent.aspx?ag...prop&pid=599293

http://www.findaproperty.com/agent.aspx?ag...prop&pid=637362

While I’m not suggesting that these are representative of whatever properties maybe available on the market locally, I guess you also have to accept that the pricing is probably not too far out? Anyway, the point I want to make is that I bought in one of these roads in circa 1982 for £39,500 – and OK, it was an executor’s sale and so the house need a lot of work doing to it – but, even then you’ll note that that price would only just exceed (by £8,300) the cost of the stamp on the cheaper of the two properties!

I’m kinda of left wondering what sort of HPC you think you’re going to need to bring these prices back into the range of affordability?

Cheers

KF

Affordable for who? People are buying them, therefore they're affordable. That's the problem.

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Affordable for who? People are buying them, therefore they're affordable. That's the problem.

I am fairly sure that london property will prove fairly resilient. There seems to be a massive shortage of 4ish bedroom houses at every price point (i.e. in expensive and less expensive areas). There are more people working in finance than ever before with the resulting uplift in associated industries like law. I know a lot of 30 something couples earning 250k plus between them and for them a £1.25M is not just affordable, for a lot of them it doesn't even require a mortgage. I'm not talking about some rich elite, just 'normal' professionals who have been working hard for 15 years. There were record city bonuses last year which put Kensington and Chelsea up 15/20% at least, and m&a activity is high again this year. There are also have a lot of rich international buyers, who are price insensitive.

However, the rest of the economy seems a bit dodgy, so can't see how £450k house in provinces is affordable, except in areas where there are a lot of retirees paying cash and obviously all the BTL's are a bit silly. If there are no first time buyers then the will be a drag down in values from the cheapest end.

In short, expensive stuff is cheap...cheap stuff is expensive!

Edited by niceandpolite

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I am fairly sure that london property will prove fairly resilient. There seems to be a massive shortage of 4ish bedroom houses at every price point (i.e. in expensive and less expensive areas). There are more people working in finance than ever before with the resulting uplift in associated industries like law. I know a lot of 30 something couples earning 250k plus between them and for them a £1.25M is not just affordable, for a lot of them it doesn't even require a mortgage. I'm not talking about some rich elite, just 'normal' professionals who have been working hard for 15 years. There were record city bonuses last year which put Kensington and Chelsea up 15/20% at least, and m&a activity is high again this year. There are also have a lot of rich international buyers, who are price insensitive.

However, the rest of the economy seems a bit dodgy, so can't see how £450k house in provinces is affordable, except in areas where there are a lot of retirees paying cash and obviously all the BTL's are a bit silly. If there are no first time buyers then the will be a drag down in values from the cheapest end.

In short, expensive stuff is cheap...cheap stuff is expensive!

I absolutely agree. I don't see the properties in Wandsworth the poster was talking about dropping because people are paying the prices. Those properties would be £550k in Balham, £500 in Crystal Palace, £450 in Croydon and so on, but £1.5m in Chelsea. Just as there are properties at every price point, so there are buyers.

I don't see a drag at the moment at the cheapest end either. Was talking to a friend the other day who'd bought a 1 bed, approx 450sq ft in Tooting Bec aug 2004, c.£170k. Did the usual bathroom / kitchen tart up, and they're exchanging at £225k next week. By anyone's definition, 1 bed 450sq ft is a very modest FTB and yet it's selling at 10x "average" earnings.

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I absolutely agree. I don't see the properties in Wandsworth the poster was talking about dropping because people are paying the prices. Those properties would be £550k in Balham, £500 in Crystal Palace, £450 in Croydon and so on, but £1.5m in Chelsea. Just as there are properties at every price point, so there are buyers.

I don't see a drag at the moment at the cheapest end either. Was talking to a friend the other day who'd bought a 1 bed, approx 450sq ft in Tooting Bec aug 2004, c.£170k. Did the usual bathroom / kitchen tart up, and they're exchanging at £225k next week. By anyone's definition, 1 bed 450sq ft is a very modest FTB and yet it's selling at 10x "average" earnings.

Thirded

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Now dropped to £675K. Booming eh ?

Loads of signs going up now as those who MEW'd to the country & tried to greed it

as landlords realise it's all over and try to cash in ahead of the drop.

However (ducks for cover), its a good area and has off street parking and a garage (very unusual for round there)... not such an overpriced sh1thole, then, although the nasty spiral staircase is truly awful. And you're right about the floor.

Like the name of the agent though... very droll and probably very appropriate.

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More clutching at straws by the doom-mongers who are desperately looking around for any bit of bad news, no matter how trivial, that will cause a property crash.

This pointless thread just goes to prove the desperation and frustration of the doom-mongers who are completely baffled as to why the housing boom is still continuing and are too blinkered by their own views to understand what is keeping the property market going.

The property bears have lost and the property bulls have won.

Yes, of course... if you say so.

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Yes, of course... if you say so.

Well, I think we are saying so!

Wandsworth has been established residential area for at least thirty years and the qulaity of the housing stock is high. It has always been relatively expensive. The affordability issue is simply irrelevant IMO sand to help you put this into context I understand that more than 3000 people received bonuses in excess of £1 million last year and the the average bonus awarded to partners at KPMG exceeded £500,000. The idea of paying circa £2 million for a house in these circumstances doesn't really seem that far fetched on this basis does it? If you don't believe me why not look around at the asking prices for property in and around the "Toastrack", when I suggest that you'll be able to judge this for yourself?

HTH

KF

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Well, I think we are saying so!

Wandsworth has been established residential area for at least thirty years and the qulaity of the housing stock is high. It has always been relatively expensive. The affordability issue is simply irrelevant IMO sand to help you put this into context I understand that more than 3000 people received bonuses in excess of £1 million last year and the the average bonus awarded to partners at KPMG exceeded £500,000. The idea of paying circa £2 million for a house in these circumstances doesn't really seem that far fetched on this basis does it? If you don't believe me why not look around at the asking prices for property in and around the "Toastrack", when I suggest that you'll be able to judge this for yourself?

HTH

KF

Really KF. So why are all the MEW to the country amateur BTLs all clambering to cash in. Lots of signs, nothing selling, asking prices

dropping weekly. Get the picture ?

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Really KF. So why are all the MEW to the country amateur BTLs all clambering to cash in. Lots of signs, nothing selling, asking prices

dropping weekly. Get the picture ?

Sorry, what is Mew? My ignorance.

Anyway, prices crack on in central london. The central theme is affodability. People earn loads in central london so prices aren't wrong. There must be differences is different parts of the UK market; by common sense there isn't one view for the whole market. BTL new developments in less prosperous parts of the uk must be more vulnerable to the current indebtedness of the population. It will take a sustained downturn in financial services and the fashionability of the capital to foreigners to crash ken/chelsea/wandsworth. No one talks about houses in Belgravia, do they? That's because they've become super rich foreigner bulletproof. Chelsea heading that way, therefore professionals moving to clapham.

I repeat my view that there will be a stretch: £2m up even more; £200k houses, particularly provincial, flat or down.

Just my view, look at my posting name, and no abuse please, doomwatch!!

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In short, expensive stuff is cheap...cheap stuff is expensive!

Nice and polite - this makes perfect sense to me.

Wasn't there a Nationwide (or maybe Halifax?) report out about a year ago, pointing out that the gap between London prices and rest of the UK was the narrowest it had been for years? This might have suggested that London was undervalued and the rest of the UK overvalued.

The London market has been rising strongly for a year following 3 years when nothing much happened and the market in the rest of the UK carried on rising. A recovering equity market and the bonuses/employment that go with it helped the London market recover.

If you look at recent RICS reports in detail you'll see very weak markets in eg. the Midlands and a very strong market in London. The London housing market seems to have been quite dependent on city fortunes for quite some time now.

I'm not sure that a 25bp interest rate rise is enough to calm the London market given the support from very tight City employment and Clapham South seems quite popular with City workers because of the Northern Line.

Edited by geranium

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Really KF. So why are all the MEW to the country amateur BTLs all clambering to cash in. Lots of signs, nothing selling, asking prices

dropping weekly. Get the picture ?

So, Doomwatch,

Sorry, but NO I don't get the picture. I don't live in Wandsworth anymore, but my guess is that the market for quality housing stock in this area will remain solid for years to come. Never forget that housing is a positional good and - like it or not - that a quality address will remain and probably become increasing important as the years go by. So, the relative price of property in Wandsworth will inevitably go up in my opinion!

But, I then suspect that you're not really living in Wandsworth – inevitably (dear god why do we have to pretend about these things) - and that you no doubt have other ideas? Why don’t you take this opportunity to entertain us by telling us more about them?

Cheers

KF

Edited by KentishFella

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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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