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bobthe~

House Prices Will Never Fall By More Than 10% In Esher

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I thought this was worth airing on the main forum before relegation to the anecdotals.

We are STR'd in sunny Esher where we have been told house prices only went down 10% in GC1 and so are immune from the downturn.

Mrs Bob got a call from an EA, who knows we are STR'd but wanted to let us know about this property

It was originally overpriced pretty much a year ago at 975k and has today been reduced to 800k.

Turns out the mortgage company has told the vendor that unless they get an offer this week, they will foreclose.

We have been told this, so presumably the final price will be waaay below even the 800k. Mrs Bob even thought we could give a cheeky offer of 720, which is after all only 10% off the asking price, but I don't fancy the location, and even worse, don't want to be saddled with that kind of debt for the next 20 years. This is a time for strong nerves at the tilde household :)

It was recently 850k and had no interest there either.

Now I don't think the asking price was ever realistic, but it would have sold in the summer for around 875 easy if the vendor had been less greedy.

Oh, and I suppose technically it is Thames Ditton not Esher, but it is close.

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esher- chelsea football club country- i worked there briefly a few yrs ago- and you need money to live there- i dont think it would suffer too much of a downturn.

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Exactly.

Lets keep an eye on it. Watch them get foreclosed and enjoy it at auction.

That would be a fun day. 400K reserve? :rolleyes:

Where did £975k come from anyway? Pulled from an EA's butt?

Notwithstanding imminent falls this looks like a £600K house to me, changing hands for £560Kish. To be £975K it would have had to be £400K in '99, or are we supposed to believe that the more up market the house, the bigger the multiplier in the recent madness?

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I thought this was worth airing on the main forum before relegation to the anecdotals.

We are STR'd in sunny Esher where we have been told house prices only went down 10% in GC1 and so are immune from the downturn.

Mrs Bob got a call from an EA, who knows we are STR'd but wanted to let us know about this property

It was originally overpriced pretty much a year ago at 975k and has today been reduced to 800k.

Turns out the mortgage company has told the vendor that unless they get an offer this week, they will foreclose.

We have been told this, so presumably the final price will be waaay below even the 800k. Mrs Bob even thought we could give a cheeky offer of 720, which is after all only 10% off the asking price, but I don't fancy the location, and even worse, don't want to be saddled with that kind of debt for the next 20 years. This is a time for strong nerves at the tilde household :)

It was recently 850k and had no interest there either.

Now I don't think the asking price was ever realistic, but it would have sold in the summer for around 875 easy if the vendor had been less greedy.

Oh, and I suppose technically it is Thames Ditton not Esher, but it is close.

Hello Bobthe....

If that is correct regarding just a possible -10% . then that is slightly dissapointing. I suppose when the time is right there will be some forced gems and as you have just demonstrated. The clever money is unfortunately smooching up to the blood sucking agents.

My problem is convincing Mrs Dosh to hold her nerve when she sees more significant falls in the near future

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I thought this was worth airing on the main forum before relegation to the anecdotals.

We are STR'd in sunny Esher where we have been told house prices only went down 10% in GC1 and so are immune from the downturn.

Mrs Bob got a call from an EA, who knows we are STR'd but wanted to let us know about this property

It was originally overpriced pretty much a year ago at 975k and has today been reduced to 800k.

Turns out the mortgage company has told the vendor that unless they get an offer this week, they will foreclose.

We have been told this, so presumably the final price will be waaay below even the 800k. Mrs Bob even thought we could give a cheeky offer of 720, which is after all only 10% off the asking price, but I don't fancy the location, and even worse, don't want to be saddled with that kind of debt for the next 20 years. This is a time for strong nerves at the tilde household :)

It was recently 850k and had no interest there either.

Now I don't think the asking price was ever realistic, but it would have sold in the summer for around 875 easy if the vendor had been less greedy.

Oh, and I suppose technically it is Thames Ditton not Esher, but it is close.

Is it East of the Scilly Isles then?

My grandparents really wanted to move from Hounslow to Esher about 30 years ago but couldn't afford it and made do with Teddington instead.

I used to work in Esher a couple of years ago and, considering the population is around 5 - 10,000, it has all the amenities you could ask for and more (I could only afford a house share in Surbiton :( ).

It will still crash but I believe it does maintain some insulation due to its desirability. Having said that, as a substantial proportion of the home owners are investment bankers then surely if the city falls, Esher falls with it :unsure:

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I thought this was worth airing on the main forum before relegation to the anecdotals.

We are STR'd in sunny Esher where we have been told house prices only went down 10% in GC1 and so are immune from the downturn.

Mrs Bob got a call from an EA, who knows we are STR'd but wanted to let us know about this property

It was originally overpriced pretty much a year ago at 975k and has today been reduced to 800k.

Turns out the mortgage company has told the vendor that unless they get an offer this week, they will foreclose.

We have been told this, so presumably the final price will be waaay below even the 800k. Mrs Bob even thought we could give a cheeky offer of 720, which is after all only 10% off the asking price, but I don't fancy the location, and even worse, don't want to be saddled with that kind of debt for the next 20 years. This is a time for strong nerves at the tilde household :)

It was recently 850k and had no interest there either.

Now I don't think the asking price was ever realistic, but it would have sold in the summer for around 875 easy if the vendor had been less greedy.

Oh, and I suppose technically it is Thames Ditton not Esher, but it is close.

Last time round I lived in one of the prettiest villages in the Chilterns. Half way between Marlow and Henley, far enough away from the M40 not to hear, close enough to be on it in 12 minutes or so.

A place very much in the immune category like Esher.

Prices in that village fell about 40%.

If you do buy it for 800k, please take 32k out of the bank and wipe your bottom on it before handing it over to Messrs Brown and Darling. "We're here to relieve of the burden of too much money."

Edited by Lets' get it right

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esher- chelsea football club country- i worked there briefly a few yrs ago- and you need money to live there- i dont think it would suffer too much of a downturn.

Well the chelsea players have been told by avram that they don't need a pad in Esher any more. Mourinho told them they needed to be 5 miles or so from the training ground in Cobham and so they all moved here.

Joe Cole has moved out for a start and I hear the others are going as well.

You do need money to live in Esher, and unfortunately when it runs out you need to sell the house for what you can get. :(

Quite a few of our ex-neighbours worked in industries servicing the consumer boom, advertising, consultancy, not to mention hedge fund managers. :ph34r:

There are still some out and out wealthy people here, but they aren't going to be trying to buy the sort of houses we would look for, at, as you have all said, around 400k. Spare cash then for a few villas in Spain, Florida and err.....Bulgaria? :lol:

I think 400 is a bit low for round here even on post crash prices.

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Last time round I lived in one of the prettiest villages in the Chilterns. Half way between Marlow and Henley, far enough away from the M40 not to hear, close enough to be on it in 12 minutes or so.

A place very much in the immune category like Esher.

Prices in that village fell about 40%.

If you do buy it for 800k, please take 32k out of the bank and wipe your bottom on it before handing it over to Messrs Brown and Darling. "We're here to relieve of the burden of too much money."

No chance, we are renting for anouther year at least, not least because I want to have lots of cash in the bank (well NS&I) before my job market goes teats up. IT Contractor - Financial Services Industry, couldn't be worse really.

Esher had a real spurt of HPI between mid-05 to May-07 putting a lot of houses out of our reach. They are back in reach now, but we would still be committing suicide buying anything for 800. Assuming we could now get a mortgage of that humongous size.

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No chance, we are renting for anouther year at least, not least because I want to have lots of cash in the bank (well NS&I) before my job market goes teats up. IT Contractor - Financial Services Industry, couldn't be worse really.

Esher had a real spurt of HPI between mid-05 to May-07 putting a lot of houses out of our reach. They are back in reach now, but we would still be committing suicide buying anything for 800. Assuming we could now get a mortgage of that humongous size.

I looked up your 800k example, also showing as you said with Gas Pees for 850k and also with Hawes and co at 815k. They must be really desparate to shift that one.

Would really suit us but about 150k from where I would feel comfortable, area suits as well as in the catchment area and en-route to Teddington (Work).

At present STR in (Hook Posh part of Chessington, Honest). Cheaper rent and like yourself, leaves me in a good place to save like hell.

Get there one day :unsure:

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Well the chelsea players have been told by avram that they don't need a pad in Esher any more. Mourinho told them they needed to be 5 miles or so from the training ground in Cobham and so they all moved here.

Joe Cole has moved out for a start and I hear the others are going as well.

You do need money to live in Esher, and unfortunately when it runs out you need to sell the house for what you can get. :(

Quite a few of our ex-neighbours worked in industries servicing the consumer boom, advertising, consultancy, not to mention hedge fund managers. :ph34r:

There are still some out and out wealthy people here, but they aren't going to be trying to buy the sort of houses we would look for, at, as you have all said, around 400k. Spare cash then for a few villas in Spain, Florida and err.....Bulgaria? :lol:

I think 400 is a bit low for round here even on post crash prices.

i see- well at least you'll still have chris tarrant- i was only working for a couple of weeks and i saw him every day pretty much in waitrose- i guess thats cos its the only supermarket there

i agree 400k in esher wont happen- 650-750 me thinks

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I looked up your 800k example, also showing as you said with Gas Pees for 850k and also with Hawes and co at 815k. They must be really desparate to shift that one.

Would really suit us but about 150k from where I would feel comfortable, area suits as well as in the catchment area and en-route to Teddington (Work).

At present STR in (Hook Posh part of Chessington, Honest). Cheaper rent and like yourself, leaves me in a good place to save like hell.

Get there one day :unsure:

No such thing. ;)

Chessington isn't that bad. Is it?:unsure:

This house as mentioned, will be at auction as a repo if there is no offer this week. Could pick it up for the 650k then if you want to. :)

Actually that would be the sort of ceiling price we could pay. It looks such a difference from anywhere else, we might be tempted to go to the auction. Surely there won't be more than 1 distressed seller in Esher in the next few years? :lol:

Although having said that, there will be someone willing to pay, thinking they are getting a bargain at 750.

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i see- well at least you'll still have chris tarrant- i was only working for a couple of weeks and i saw him every day pretty much in waitrose- i guess thats cos its the only supermarket there

i agree 400k in esher wont happen- 650-750 me thinks

Did he keep the house after Ingrid went for his nuts, used to see him lots but not for a while.

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No such thing. ;)

Chessington isn't that bad. Is it?:unsure:

This house as mentioned, will be at auction as a repo if there is no offer this week. Could pick it up for the 650k then if you want to. :)

Actually that would be the sort of ceiling price we could pay. It looks such a difference from anywhere else, we might be tempted to go to the auction. Surely there won't be more than 1 distressed seller in Esher in the next few years? :lol:

Although having said that, there will be someone willing to pay, thinking they are getting a bargain at 750.

It`s amazing really, Chessington over the years had an awful reputation but I have owned 3 houses over the last 14 years in and around the area and I am honestly bemused by the comments. I think the rep came from the old days of it being well known for just a Zoo ????. I moved from Fulham and Hook/Chessington was one area that was cheap enough for me to buy at 3x salary all those years ago.

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i see- well at least you'll still have chris tarrant- i was only working for a couple of weeks and i saw him every day pretty much in waitrose- i guess thats cos its the only supermarket there

i agree 400k in esher wont happen- 650-750 me thinks

Never seen Tarrant in waitrose, we must go at the wrong times.

Seen David "Kid" Jensen a few times though.

Gets the train at Esher quite a lot. Or his Doppelganger does.

I don't think he calls himself Kid any more either. :)

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Well I've pinned down the location it is Embercourt Road, Thames Ditton

Property is 2428 Sq FT, so reasonably big, though I consider 3000 Sq Ft large. It also seems to be on a main road.

Prices in the area are here .

So looks like £825k would have been achieveable last year without much effort. But I guess its a different story now. I'm going for a guess of £750k at moment, though the eventual buyer may then live to regret even paying that price.

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Never seen Tarrant in waitrose, we must go at the wrong times.

Seen David "Kid" Jensen a few times though.

Gets the train at Esher quite a lot. Or his Doppelganger does.

I don't think he calls himself Kid any more either. :)

I never saw Tarrant either although I did get rather annoyed in Nat West one day when both cashiers decided to serve John Terry. :angry:

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Well I've pinned down the location it is Embercourt Road, Thames Ditton

Property is 2428 Sq FT, so reasonably big, though I consider 3000 Sq Ft large. It also seems to be on a main road.

Prices in the area are here .

So looks like £825k would have been achieveable last year without much effort. But I guess its a different story now. I'm going for a guess of £750k at moment, though the eventual buyer may then live to regret even paying that price.

It is a busy road, and is a cut through when hampton court way is blocked, but that is really only in rush hour. after that quite quiet, but still not what we would want. The other side of the roundabout is nicer and there is a big Edwardian house on for 1.3 mill (IIRC). Still priced in the Summer's market though.

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Well I've pinned down the location it is Embercourt Road, Thames Ditton

Property is 2428 Sq FT, so reasonably big, though I consider 3000 Sq Ft large. It also seems to be on a main road.

Prices in the area are here .

Looks like £825k would have been achieveable last year without much effort. But I guess its a different story now. I'm going for a guess of £750k at moment, though the eventual buyer may then live to regret even paying that price.

Not sure of the house number, but it may be number 51. It doesn't say the number on the [url="http://212.50.188.108/cgi-win/vebra.cgi?details1?src=agent&PropertyCode=1241002/EMBER/13780/2" agents webpage [/url] , but if you right click on the picture and choose properties the jpg name is ember51.jpg. The other houses seem to follow a similar format.

Interestingly, if this is the right number, then there is no land reg entry that I can find.

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Not sure of the house number, but it may be number 51. It doesn't say the number on the [url="http://212.50.188.108/cgi-win/vebra.cgi?details1?src=agent&PropertyCode=1241002/EMBER/13780/2" agents webpage [/url] , but if you right click on the picture and choose properties the jpg name is ember51.jpg. The other houses seem to follow a similar format.

Interestingly, if this is the right number, then there is no land reg entry that I can find.

Had already asked Mrs Bob and she thinks it is 51 as well. They must have been there since before 2000, when their records began, although she thinks they may well have splinked all their equity on the improvements. 2 kitchens is greedy if you ask me. Also Mrs Bob says one is at the front of the house and that is something we don't like.

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Live in the Elmbridge myself with Claygate & Thames Ditton my target areas.

Despite many of the arguments put forward for the high end of the market (whatever that is in Elmbridge in reality - £1m+) weathering housing crashes better than less beknighted areas, I for one think that all classes will be hit equally within reason this time.

The £750/850k 4-bed+ houses were £400-550k a few years ago.

There is only so many people earning 150k+ per annum especially when the P45's get handed out in the big smoke and housing revisits its millstone/leper status. The margins will make the market as always.

How long I will be able to placate my wife is one question, along with whether I will be swept up in the collateral damage of the UK Plc meltdown being the other.

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Live in the Elmbridge myself with Claygate & Thames Ditton my target areas.

Despite many of the arguments put forward for the high end of the market (whatever that is in Elmbridge in reality - £1m+) weathering housing crashes better than less beknighted areas, I for one think that all classes will be hit equally within reason this time.

The £750/850k 4-bed+ houses were £400-550k a few years ago.

There is only so many people earning 150k+ per annum especially when the P45's get handed out in the big smoke and housing revisits its millstone/leper status. The margins will make the market as always.

How long I will be able to placate my wife is one question, along with whether I will be swept up in the collateral damage of the UK Plc meltdown being the other.

Just out of curiosity, how long ago were the 4-bed+ houses available at 400-550k ?

edited cos it all went wrong

Edited by boshdadosh

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based on houses we have viewed in the last 6-8 months...

2003/4/ depending on how insane the asking price is they are asking for now.

There has even been some 2005 ones shooting from 4/500k to 7/800k in that period in some circumstances.

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  • 293 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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