worried1 Posted April 29, 2015 Share Posted April 29, 2015 I have largely given up hope now. That looks stupidly overpriced to me for an extended semi in Berrylands, but the rest of outer London has gone utterly mad and makes it look more reasonable. I can't link on the forum unfortunately, but people are asking similar money for similar houses in places like Beckenham and Enfield, so I guess why not Berrylands? What worries me is what does this mean for prices in Surbiton itself. Will the next house in The Mall be £1.3m?! My original hope was that the general election might at least cause a bit of a stutter in the market, but it seems to be going up faster than ever. Every house that I have noticed coming on to the market in the centre of Surbiton sells within a weekend. Flats are a bit slower, but the supply of those is ridiculous. The main concern for me is the lack of housing policies being talked about for the election. The policies that have been unveiled are all there to further prop up the market rather than deal with the problems. - Cameron's 'Right To Buy' extension and Labour's £300k stamp duty holiday. What is required is a plan to limit mortgage finance, raise interest rates and raise supply (in that order). No one is even talking about the first two and the longer they leave them, the less able they will be to ever do it without causing a complete crash. Quote Link to comment Share on other sites More sharing options...
iamnumerate Posted April 29, 2015 Share Posted April 29, 2015 There's never a good time to buy, according to this forum I'm here because on this thread there are some users with good knowledge re local areas. It's actually a BTL I'm after. I bought my flat three years ago and I'm happy with it, it is an ex-council flat but it's very big, good layout, lots of natural light, in a low rise brick building that is very well insulated, which cannot be said about many new built blocks (my partner does energy audits for living). I'm a foreigner - of beloved Eastern European flavour - and I couldn't care less about the stigma associated with ex-council flats. I do care about how quiet, clean, and safe the area is, and also about the resale value. London prices are insane, but they were like that two years ago, and five, and ten years ago and so on. Capital appreciation is also decent long term, and areas like Teddington, Hampton, Richmond, Kingston - while not recession proof - are good from that perspective. Have a good weekend everyone! The problem is not the stigma it is that you might get hit with large maintenance bills from the council. It can be a lottery which I hope you don't lose. (Speaking as a former owner of an ex council property who managed to move freehold). Quote Link to comment Share on other sites More sharing options...
aytri Posted April 30, 2015 Share Posted April 30, 2015 So what do we think this is worth? http://www.rightmove.co.uk/property-for-sale/property-49742119.html Quote Link to comment Share on other sites More sharing options...
aytri Posted April 30, 2015 Share Posted April 30, 2015 500k Crazy isn't it. I wonder what it will actually sell for... Quote Link to comment Share on other sites More sharing options...
longgone Posted May 1, 2015 Share Posted May 1, 2015 So what do we think this is worth? http://www.rightmove.co.uk/property-for-sale/property-49742119.html more than this piece of crap 800k for a f*cking sh*t hole like that http://www.zoopla.co.uk/for-sale/details/36701698?tmad=c&tmcampid=35&utm_campaign=buy-alert&utm_content=contact-type-listing&utm_medium=email&utm_source=alert#ZJy3iLYzdZsOYsWe.97 Quote Link to comment Share on other sites More sharing options...
worried1 Posted May 1, 2015 Share Posted May 1, 2015 I'd expect both of those to be waiting a long time to attract that money. The second one has been on and off the market for quite some time now. The problem for them is that the London money that is causing the real bubble in this area is only going into certain parts. I was talking to somebody yesterday who told me that he had offered on a 2up-2down+loft in Cleaveland Road that went on the market for £775k last week. Sealed bids - his was £825k and he still didn't get it! Madness. London incomers are interested in that part of the area, otherwise they will go a few stops down the track and get a better house. I'd much rather spend £900k on a detached house in Walton than I would live in a semi in Berrylands and I think a lot of the London movers agree. Quote Link to comment Share on other sites More sharing options...
longgone Posted May 1, 2015 Share Posted May 1, 2015 I'd expect both of those to be waiting a long time to attract that money. The second one has been on and off the market for quite some time now. The problem for them is that the London money that is causing the real bubble in this area is only going into certain parts. I was talking to somebody yesterday who told me that he had offered on a 2up-2down+loft in Cleaveland Road that went on the market for £775k last week. Sealed bids - his was £825k and he still didn't get it! Madness. London incomers are interested in that part of the area, otherwise they will go a few stops down the track and get a better house. I'd much rather spend £900k on a detached house in Walton than I would live in a semi in Berrylands and I think a lot of the London movers agree. are they actually getting anything better in cleaveland road for best part of 900k than they can get anywhere else ?? any kind of financial reset and those crumbling victorian places are going to have 50% wiped off surely ?? Quote Link to comment Share on other sites More sharing options...
aytri Posted May 1, 2015 Share Posted May 1, 2015 my god! that's like 350Ks worth tops! You're forgetting, it's in "Southborough" Quote Link to comment Share on other sites More sharing options...
aytri Posted May 1, 2015 Share Posted May 1, 2015 http://www.zoopla.co.uk/for-sale/details/36675606?tmad=c&tmcampid=35&utm_campaign=buy-alert&utm_content=contact-type-listing&utm_medium=email&utm_source=alert#ztaVqmIchBFPtjqr.97 400k overpriced ?? I made a low offer on this one. Rejected, as the vendor is expecting offers in excess of the asking price hahahaha. The sad thing is, someone will probably pay it. Quote Link to comment Share on other sites More sharing options...
worried1 Posted May 1, 2015 Share Posted May 1, 2015 Cleaveland Road is bubble-on-bubble-on-bubble territory now. That is the part of Surbiton that London incomers want to live in and it is just about the only road in that part of town where you can still buy a house of any type for less than £1m. It has always been premium priced compared to the rest of the area because of it's location, but now the prices have just gone too far I think. When you look at the sold prices on Zoopla, these houses seem to have been selling for between £400 and £550k from 2011 to 2013 and then it suddenly explodes. There were 6 sales in 2014, and the road goes from a c.£500k road to a c.£675k one in the course of a few months. Then in 2015 a house sells for £815k - a full 20% higher than the highest ever in the road. The problem is that people don't seem to care about how much they spend anymore, so £815k now becomes the baseline for the road, even though only one house has ever sold above £680k! That's how the pyramid scheme works and people are still falling over themselves to get into it. Quote Link to comment Share on other sites More sharing options...
MarkWeston Posted May 1, 2015 Share Posted May 1, 2015 I made a low offer on this one. Rejected, as the vendor is expecting offers in excess of the asking price hahahaha. The sad thing is, someone will probably pay it. I know this is a very personal question, so feel free to just tell me no, but I'm always intrigued by who is buying these sort of places and how they afford it. I am a single earner but on a pretty good salary in London. I am late 30s and have saved for quite a long time and I could never afford something like that. Without giving any personal information away, perhaps you could hint at your situation. Like, offering as a couple, joint mortgage, industries you work in, high/low salaries, are you a second stepper (lot of equity from previous place), etc. It's just quite amazing how many people there are around who can actually afford to pay these prices. I mean no offence by any of this but I think it would enlighten a few of us. (I realise you aren't paying that price, but if you can offer on something like that it is still interesting) Quote Link to comment Share on other sites More sharing options...
aytri Posted May 1, 2015 Share Posted May 1, 2015 I know this is a very personal question, so feel free to just tell me no, but I'm always intrigued by who is buying these sort of places and how they afford it. I am a single earner but on a pretty good salary in London. I am late 30s and have saved for quite a long time and I could never afford something like that. Without giving any personal information away, perhaps you could hint at your situation. Like, offering as a couple, joint mortgage, industries you work in, high/low salaries, are you a second stepper (lot of equity from previous place), etc. It's just quite amazing how many people there are around who can actually afford to pay these prices. I mean no offence by any of this but I think it would enlighten a few of us. (I realise you aren't paying that price, but if you can offer on something like that it is still interesting) Without giving too much away, we're offering as a couple - joint mortgage - both working in the City. Selling our flat, buying a family house. Quote Link to comment Share on other sites More sharing options...
MarkWeston Posted May 1, 2015 Share Posted May 1, 2015 Without giving too much away, we're offering as a couple - joint mortgage - both working in the City. Selling our flat, buying a family house. Thank you. Quote Link to comment Share on other sites More sharing options...
longgone Posted May 1, 2015 Share Posted May 1, 2015 You're forgetting, it's in "Southborough" looks like two neighbors made a pack to stick a small "shed" sorry house i mean, between two garages ! might as well buy two flat`s and keep some change left over for that kind of money Quote Link to comment Share on other sites More sharing options...
longgone Posted May 1, 2015 Share Posted May 1, 2015 I made a low offer on this one. Rejected, as the vendor is expecting offers in excess of the asking price hahahaha. The sad thing is, someone will probably pay it. what made you offer on it ? you can buy a detached place near esher station for around the same kind of money Quote Link to comment Share on other sites More sharing options...
aytri Posted May 1, 2015 Share Posted May 1, 2015 looks like two neighbors made a pack to stick a small "shed" sorry house i mean, between two garages ! might as well buy two flat`s and keep some change left over for that kind of money People really do buy into that whole "Southborough" thing - that one was priced as if it were in Woodlands Road! Quote Link to comment Share on other sites More sharing options...
aytri Posted May 1, 2015 Share Posted May 1, 2015 what made you offer on it ? you can buy a detached place near esher station for around the same kind of money I like Surbiton. I really don't like Esher. It was a nice house - just stupidly priced. Quote Link to comment Share on other sites More sharing options...
longgone Posted May 1, 2015 Share Posted May 1, 2015 http://www.zoopla.co.uk/for-sale/details/36183298?search_identifier=55a69fdd893a27ba72f46fcac2e96633#gmQ1FqjZiAIRMbjk.97 prefer something like this myself Quote Link to comment Share on other sites More sharing options...
worried1 Posted May 1, 2015 Share Posted May 1, 2015 Parts of Southborough are quite lovely, like perfect suburbia in many ways. I'd feel very much like a poor relation living in a house like that in that area, though! Quote Link to comment Share on other sites More sharing options...
aytri Posted May 1, 2015 Share Posted May 1, 2015 http://www.zoopla.co.uk/for-sale/details/36183298?search_identifier=55a69fdd893a27ba72f46fcac2e96633#gmQ1FqjZiAIRMbjk.97 prefer something like this myself Each to their own. Quote Link to comment Share on other sites More sharing options...
worried1 Posted May 1, 2015 Share Posted May 1, 2015 It is quite amazing that a house like that in Cobham is almost the same price as a Berrylands semi. How did that happen? Quote Link to comment Share on other sites More sharing options...
aytri Posted May 1, 2015 Share Posted May 1, 2015 Parts of Southborough are quite lovely, like perfect suburbia in many ways. I'd feel very much like a poor relation living in a house like that in that area, though! Hailsham Close ain't Southborough, no matter what the EAs say. Quote Link to comment Share on other sites More sharing options...
longgone Posted May 1, 2015 Share Posted May 1, 2015 It is quite amazing that a house like that in Cobham is almost the same price as a Berrylands semi. How did that happen? because the lemmings see one go for that everyone else pays and of course the locality to the station , the semi has some fancy wallpaper too personally i would forget about surbiton and buy that in cobham for nearly 1m quid , at least it looks like 1m quid , knock down garage make kitchen 30x40 extra bedroom bathroom sell for 1.6m buy surbiton make nothing or lose Quote Link to comment Share on other sites More sharing options...
worried1 Posted May 1, 2015 Share Posted May 1, 2015 Isn't it just off Corkran Road? I'd always considered that Southborough, but I don't know that part of town that well to be fair. Quote Link to comment Share on other sites More sharing options...
aytri Posted May 1, 2015 Share Posted May 1, 2015 Isn't it just off Corkran Road? I'd always considered that Southborough, but I don't know that part of town that well to be fair. It is, but so is Lovelace Road and that ain't Southborough either. Corkran Road/Ashcombe Avenue/Langley Avenue/Woodlands Road/Southborough Close is true Southborough. The surrounding roads could be generously described as "Southborough borders" at best. Quote Link to comment Share on other sites More sharing options...
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