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Kingston Upon Thames


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16 minutes ago, quine said:

We looked at this flat the last time it was on the market (2013/2014).  Gorgeous flat, lots of space (awkward to get up to the outside space) however the mutual hallway and stairway and maintenance of those areas were a disgrace. The service charges were large so goodness knows what they were doing with the cash.

Right. And that is why I bought a house in a slightly more out-of-the-way area than a flat in a nicer area. I may have preferred living in a flat in a better area but I just could not be bothered dealing with communal issues, awkward freeholders, fees, etc.

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22 hours ago, longgone said:

yep looks quite nice although the decor is not exactly up to date. 

It’s a shame for the seller that the advisory ban on house sales has come in. This would look so much more attractive now to buyers from outside the area because Portsmouth Road is reduced from a busy arterial road to one that has hardly any traffic.

When it gets back to normal, that would be one of the big downsides of this flat.

 

 

Edited by worried1
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  • 2 weeks later...

These great opportunities are now on the market.

£1,000 per sqft to live right on the Kingston one-way system with the added bonus of spending the first few years surrounded by noisy building work as well as they redevelop all of the surrounding sites that they had let fall into neglect to get planning permission in the first place. Nice.

https://www.rightmove.co.uk/property-for-sale/property-91155110.html

There's no Help to Buy, shared ownership or any other cheats at this level, so how are the going to sell them?

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8 minutes ago, worried1 said:

These great opportunities are now on the market.

£1,000 per sqft to live right on the Kingston one-way system with the added bonus of spending the first few years surrounded by noisy building work as well as they redevelop all of the surrounding sites that they had let fall into neglect to get planning permission in the first place. Nice.

https://www.rightmove.co.uk/property-for-sale/property-91155110.html

There's no Help to Buy, shared ownership or any other cheats at this level, so how are the going to sell them?

chelsea prices 

beyond a joke now. 

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All these threads on airbnb doing the rounds prompted me to have a look in Kingston at how many properties there actually are listed.

Within the Kingston / Hampton Wick area my scan showed almost 200.  I honestly couldn't believe it - I expected airbnb to be much more a PCL problem.

I'm expecting a flurry of new rental / sales listings once estate agents can actually get out of their lockdown.

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On 06/04/2020 at 17:07, naturals said:

All these threads on airbnb doing the rounds prompted me to have a look in Kingston at how many properties there actually are listed.

Within the Kingston / Hampton Wick area my scan showed almost 200.  I honestly couldn't believe it - I expected airbnb to be much more a PCL problem.

I'm expecting a flurry of new rental / sales listings once estate agents can actually get out of their lockdown.

I’d have expected the same. I know Airbnb is a massive problem in central London and Edinburgh but I didn’t think it would be in Kingston.

There can’t be that many tourists, but I suppose there are quite a lot of visiting friends/relatives that Kingston residents can’t put up because they live in small flats.

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On 20/04/2020 at 17:16, naturals said:

Stolen from another thread, Kingston has several of the most mortgaged up postcodes in the country.

https://www.theguardian.com/money/2013/dec/17/london-quarter-mortgage-loans

That's interesting. KT4 is Worcester Park I think which is one of the cheaper parts of the borough, so I wouldn't have expected that. KT2 sure, and KT11 covers Cobham and Oxshott, so anything goes there.

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This one keeps getting reduced, but still seems too expensive:

https://www.rightmove.co.uk/property-for-sale/property-55973970.html

 

If I recall correctly, it was bought cheaply at auction and then refurbished. The trouble is that there are plenty of detached houses around Thames Ditton and Hinchley Wood for this type of money and I'd expect most people to prefer them.

Semis go for silly money in the Surbiton river roads, but that is because there are so few detached houses available there and people are buying for station access etc. I think that if people are looking at TD, they are more likely to be looking for their 'forever home'.

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A classic Foxtons entry today:

https://www.rightmove.co.uk/property-for-sale/property-70262469.html

A flat in a nice looking house in one of the better roads in Surbiton, share of freehold, a reasonable size too. The problem is that £620k is real premium money for a a flat (apart from the new builds with the HTB 'discount' of course).

I don't think this is anything like premium:

Lower Ground Floor

Only a communal garden

No parking

Unbalanced - kitchen too big, bedrooms too small

Needs a bit of TLC

 

The main thing is that this flat would have gone on the market for £500-£525k pre-CV19 (not saying it is worth that, but that's where asking prices seemed to be)

Where has the extra £100k come from?

Edited by worried1
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Easy to see the mentality.

A 2-bed on the same road sold for £500k in 2016, and this one is bigger. Therefore add on some extra premium for the extra space and 3 years price growth. 

Seen it so many times ie this.. The most funny examples are where a flat on a road gets sold at a real kite-flyer price and then everyone else tries to get it as well.

Edited by simon2
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On 07/05/2020 at 15:27, worried1 said:

A classic Foxtons entry today:

https://www.rightmove.co.uk/property-for-sale/property-70262469.html

A flat in a nice looking house in one of the better roads in Surbiton, share of freehold, a reasonable size too. The problem is that £620k is real premium money for a a flat (apart from the new builds with the HTB 'discount' of course).

I don't think this is anything like premium:

Lower Ground Floor

Only a communal garden

No parking

Unbalanced - kitchen too big, bedrooms too small

Needs a bit of TLC

 

The main thing is that this flat would have gone on the market for £500-£525k pre-CV19 (not saying it is worth that, but that's where asking prices seemed to be)

Where has the extra £100k come from?

always nice to see the EA`s have one last crack of the whip before chitholes like these are un sellable over 250k 

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On 09/05/2020 at 09:39, longgone said:

always nice to see the EA`s have one last crack of the whip before chitholes like these are un sellable over 250k 

Indeed, it looks like they are all at it:

Here is an 800 sqft flat that the EA thinks is worth more because they've squeezed 3 bedrooms in:

https://www.rightmove.co.uk/property-for-sale/property-70493979.html

This is right on a traffic light controlled crossroads, so you've got a lot of car noise all day and night. It's not too bad an area now, but is quite a long walk from anything useful given the busy location.

I remember when all of these large houses set around this crossroads were owned by a Poliidh buy who rented them out on the cheap as halfway houses and dodgy 'hotels'. A few years later and it is £635k for a flat there!

 

This one is perhaps a little bit better:

https://www.rightmove.co.uk/property-for-sale/property-91162040.html

A better location, and quite a good size, but still lower ground floor, no parking, no garden for £650k!

 

The EAs must think that CV19 has put a lot more money in people's pockets!

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56 minutes ago, worried1 said:

no garden for £650k!

If Covid has taught most people anything, it's that any property without a garden / large balcony is basically a prison.  I can't see a world in which properties sans outdoor space listed before the outbreak don't see a 10% haircut in the next couple of weeks.

As someone currently looking for a rental 2 bed in Kingston, I reckon ~60% of flats in our (reasonably generous) budget have no outdoor space.  For such a leafy suburb, a lot of developers seem to have totally overlooked the importance of this.

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3 hours ago, worried1 said:

Indeed, it looks like they are all at it:

Here is an 800 sqft flat that the EA thinks is worth more because they've squeezed 3 bedrooms in:

https://www.rightmove.co.uk/property-for-sale/property-70493979.html

This is right on a traffic light controlled crossroads, so you've got a lot of car noise all day and night. It's not too bad an area now, but is quite a long walk from anything useful given the busy location.

I remember when all of these large houses set around this crossroads were owned by a Poliidh buy who rented them out on the cheap as halfway houses and dodgy 'hotels'. A few years later and it is £635k for a flat there!

 

This one is perhaps a little bit better:

https://www.rightmove.co.uk/property-for-sale/property-91162040.html

A better location, and quite a good size, but still lower ground floor, no parking, no garden for £650k!

 

The EAs must think that CV19 has put a lot more money in people's pockets!

if you want to spend that kind of money to live in a flat at least live near the tube. 

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18 hours ago, naturals said:

If Covid has taught most people anything, it's that any property without a garden / large balcony is basically a prison.  I can't see a world in which properties sans outdoor space listed before the outbreak don't see a 10% haircut in the next couple of weeks.

As someone currently looking for a rental 2 bed in Kingston, I reckon ~60% of flats in our (reasonably generous) budget have no outdoor space.  For such a leafy suburb, a lot of developers seem to have totally overlooked the importance of this.

I agree. I was thinking that areas like this might see a more general haircut as people wise-up to the new way of living.

If people aren't going to be required to go into a London-based office as often going forward, then why not buy a bigger house somewhere a bit further down the train line?

If pubs, restaurants and cinemas don't fully re-open or have to close again for a second virus wave, what's the benefit of living in an area with more of them?

The whole idea of suburbia is that it ticks a lot of boxes for a lot of people, even if it is often derided for doing so. If those boxes change, then what keeps people here and the prices so high?

 

Either way, I definitely agree on the outside space point. So many developers have been allowed to be too greedy in Kingston, and we've ended up with a lot of new flats with no private outside space at all and more still with tiny balconies overlooking the one-way system

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26 minutes ago, longgone said:

a 25% off offer as being sprouted by the media is back to pre HTB levels. 

someone just wasted a lot of years earning money to pay down made up money for nothing. 

https://www.rightmove.co.uk/property-for-sale/property-88428647.html

 

Damn, is that really still classed as Surbiton?  Right off one of the busiest roads in London; if you're lucky the abandoned pub at the back might not be redeveloped into dozens of flats overlooking your garden.

Looks like it was last sold in 2002 for £139,000.  5.26% rate of return.  If they accept 300k that becomes 4.27%.  Hardly dinner party conversation worthy gainzzz.

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4 hours ago, naturals said:

Damn, is that really still classed as Surbiton?  Right off one of the busiest roads in London; if you're lucky the abandoned pub at the back might not be redeveloped into dozens of flats overlooking your garden.

Looks like it was last sold in 2002 for £139,000.  5.26% rate of return.  If they accept 300k that becomes 4.27%.  Hardly dinner party conversation worthy gainzzz.

If it's KT5 or KT6 it is Surbiton as far as EAs are concerned. If you were to look at the street sign, I'm sure it would have Tolworth in the bottom corner of course!

The relatively poor return shows that buyers don't believe them though - these areas just haven't gone up as much as the better parts.

That said, the flattening of prices since 2014-15 means that annualised gains don't look nearly as exciting as they would have done over that period. 

This type of thing looks to have been going for about £220k in 2002, and they are asking £800k now, so about 7.5% annual growth not adjusted for inflation if they get that price.

https://www.rightmove.co.uk/property-for-sale/property-93010013.html

7.5% isn't bad for sitting around doing nothing of course, but the real speculation money is made by buying and selling at the right time - these were probably going up by twice that for certain parts of that period.

 

 

Edited by worried1
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