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ronpember

Friend Of Mine In Old Coulsdon, Surrey

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A friend of mine who sold his place in Old Coulsdon, Surrey (in the London Borough of Croydon) last September, caught up with the EA who ran the transaction recently and asked him how much his place was worth now. He sold for £280 and was told that his place would be worth £250 now (if he was lucky). So say he received £275 after all the deal costs and that he sold today for £250 (£245 after fees etc) with a completion in September 2008, then he’s already £30k better off by having done what he did. But assuming he placed the cash in an account yielding 5% net per annum then that £275 would now be c.£289 – so in fact £44000 to the good. But then strip out the rent he must be paying on his 2 bed flat in Purley (£900 per year??) and he is still up a cool £33k - £2750 per month. Well played that man. So two anecdotes there – salutary STR story and evidence that suburban Surrey has taken a hit to the tune of 10% over a period of 10 months.

Oh and renting is dead money you know!

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Lovely alliteration there - no Croydonians in today?

Yes, I'm from LB of Croydon. My sister lives in Coulsdon, still! and I was brought up there.

Funny I never hardly hear mention of that place.

I probably wouldn't recognise it now

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Yes, I'm from LB of Croydon. My sister lives in Coulsdon, still! and I was brought up there.

Funny I never hardly hear mention of that place.

I probably wouldn't recognise it now

I sold a place near Reigate in August. We spoke to our selling agent recently and he says it worth £50k less now - it was half million house.

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I sold a place near Reigate in August. We spoke to our selling agent recently and he says it worth £50k less now - it was half million house.

Yes, I know the area well. I was born in Redhill.

My Grandfather's house, bought in 1960s cost £6k I think. My parents moved away from the area in the 1980's

because they couldn't afford to live there any more, and nor could I.

Well done, selling up at the right time! I did too, but I think it was luck, rather than planning.

I've made far worse decisions in my life.

Many people "congratulate" themselves when stuff works out, and then blame somebody else when it does not!

I don't have that attitude. Only "Governments" can do that, because they are always gone in a few years!

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Sold in South Croydon in July 07 for £270K. Place next door came on at 295K in Feb 08 and is now on at £235k. I reckon it will end up probably going for £220K. We also looked at a place in West Coulsdon back in August 07 which was on for £349K a similar property is now on for £299K and I reckon in todays market they will be lucky if they get £250K for it. From checking on Property Bee Over the last Month or so, I reckon no more than 10 3+ bed properties priced at below £400k have gone under offer in CR8 and CR5.

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  • 396 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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