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bobthe~

Flippin' In Esher

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Cranleigh Road in Esher is a road I walk the dog down and one that we might be interested in living in after this is all over.

2 houses were sold recently in this road.

One, no. 13, is a 3 bedder needing work which was on for 750k and eventually sold for 700. The new owners are doing an extension and from looking at the plans are making some big changes.

No.3 was a small 4 bed house that we got sent the details for. It was on for 725 and then 700 and then we thought had gone off the market, but in fact was sold in April for 681k, a really crap discount that only someone who has no idea of risk and an unshakeable belief in proeprty as a long term investment would pay. There is a skip outside and lots of white paint inside.

One on the other side of the road is also being renovated, number 10. This is a bigger house than 3, but probably about the same size as 13.

In fact these are the last 3 houses to sell on this road

1 18/04/2008 £681,000 Det. F No Map 3, Cranleigh Road, Esher, Surrey, KT10 8DF

2 20/12/2007 £700,000 Det. F No Map 13, Cranleigh Road, Esher, Surrey, KT10 8DF

3 15/08/2006 £662,500 Det. F No Map 10, Cranleigh Road, Esher, Surrey, KT10 8DF

I wonder whether any of these are going to come a cropper any time soon.

I could obviously be misjudging good people. After all, number 10 has been owned for a couple of years and didn't look that nice, so they may just be making their house as good as it can be for their own purposes.

We shall see.

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No. 3 looks like its refurb is complete as it is now on for rent at 2500 per month.

So, 30k per year, less fees, on an investment of 681k, which has very little upside for the next 2 years.

Even if there were no agent fees, that would be 4.4% return, which is very poor for property.

Mind you, there is another house on for the same rent on Ember Lane where the buyer paid 870k. So relatively this guy has got a bargain.

Assuming he gets someone to rent at that price (unlikely).

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Thanks Bob,

Could be all sorts of different things. Someone cash rich buying up for the longterm or family in that area?

Do you know the agents well enough to ask?

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Cranleigh Road in Esher is a road I walk the dog down and one that we might be interested in living in after this is all over.

2 houses were sold recently in this road.

One, no. 13, is a 3 bedder needing work which was on for 750k and eventually sold for 700. The new owners are doing an extension and from looking at the plans are making some big changes.

No.3 was a small 4 bed house that we got sent the details for. It was on for 725 and then 700 and then we thought had gone off the market, but in fact was sold in April for 681k, a really crap discount that only someone who has no idea of risk and an unshakeable belief in proeprty as a long term investment would pay. There is a skip outside and lots of white paint inside.

One on the other side of the road is also being renovated, number 10. This is a bigger house than 3, but probably about the same size as 13.

In fact these are the last 3 houses to sell on this road

1 18/04/2008 £681,000 Det. F No Map 3, Cranleigh Road, Esher, Surrey, KT10 8DF

2 20/12/2007 £700,000 Det. F No Map 13, Cranleigh Road, Esher, Surrey, KT10 8DF

3 15/08/2006 £662,500 Det. F No Map 10, Cranleigh Road, Esher, Surrey, KT10 8DF

I wonder whether any of these are going to come a cropper any time soon.

I could obviously be misjudging good people. After all, number 10 has been owned for a couple of years and didn't look that nice, so they may just be making their house as good as it can be for their own purposes.

We shall see.

Bob, good position. Not far from the station and if you like the GGs, Sandown Park is not far away.

Edited by mikelivingstone

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Thanks Bob,

Could be all sorts of different things. Someone cash rich buying up for the longterm or family in that area?

Do you know the agents well enough to ask?

Hi Flopsy.

We don't know the agents at all, other than one I used to do a saturday job with more years ago than I care to remember, but I haven't spoken to him for 8 years. :)

It could be of course, but they didn't really get a good deal compared to other houses round this way, which are certainly dropping and not selling.

It does make me wonder whether people who are optimistic about property in the long term consider that any price is good enough because "it always goes up". Similar I suspect to the time vs timing debate that rages in the main forum regularly.

How is your househunting going anyway? Are you still looking for a flat round the Elmbridge area?

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Bob, good position. Not far from the station and if you like the GGs, Sandown Park is not far away.

Indeed. Mrs Bob and Bob Jr went to Sandown last week to see Girls Aloud. I managed to make my excuses and went to a pub in town to see some previous colleagues.

We are quite close to this location already, and our previous house is round this area too.

Not so good, as Bobbins mentioned on the elmbridge thread, if you want to put your children through the local education system (state), and not too handy to walk to any local shops, but we like it.

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No. 3 looks like its refurb is complete as it is now on for rent at 2500 per month.

So, 30k per year, less fees, on an investment of 681k, which has very little upside for the next 2 years.

Even if there were no agent fees, that would be 4.4% return, which is very poor for property.

Mind you, there is another house on for the same rent on Ember Lane where the buyer paid 870k. So relatively this guy has got a bargain.

Assuming he gets someone to rent at that price (unlikely).

Assuming they don't get:

1. Voids

2. Massive damage

3. Renters leaving without paying.

4. Interest rate increases

5. Renters don't have kids and move.

6. Fall sick, can't work and get their property auctioned off.

Ad infinitum.......

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Thanks Bobthe~,

We have given up for now but still watching Propertybee to see what is happening.

Some familiar flats appearing on the market (in developments we looked at in 2005/6/7). Still overpriced. Some very delusionary people out there and probably desperate. We just count ourselves as lucky not to be in the same boat.

Can you see prices returning to the 2002 levels?

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Assuming they don't get:

1. Voids

2. Massive damage

3. Renters leaving without paying.

4. Interest rate increases

5. Renters don't have kids and move.

6. Fall sick, can't work and get their property auctioned off.

Ad infinitum.......

Not in EeeeShaaaah Darling. ;)

But you are absolutely right. I posted on the main forum in one of the threads that we know of a couple who are renting out their house because they had to move. They are now stuck with it being empty and a 5k mortgage to pay on top of their current mortgage. Financial suicide, and joining the queue to be repossessed, which just pushes prices down even more.

Flopsy, I have no idea. I think it depends on so many things that might or might not happen in the City for one thing.

However, although the past is no guide, loads of flats were built and they will probably be hit the hardest. you might find that you can afford a nice bungalow by the time we finish. Assuming you want the garden to keep up with. :)

I am just trying to keep an eye on how things progress through the Bee as well. Couldn't really trust an EA to give an answer when his/her living depends on it, but might have to become friends with them later next year.

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  • 395 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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